Generations differ in life goals, but work-life balance a priority for all: report

The top three specific goals were to spend quality time with family and friends, save money and improve physical fitness. Paying off debt, travelling and reducing their environmental impact also made it into the top ten.

All cohorts placed a high value on work-life balance, with over nine-tenths of respondents (91%) saying it is essential to happiness. Less than half (49%) of respondents overall said they were committed to career advancement, although for Gen Z, that rises to 79%. Canadians also prioritize personal well-being, with 91% saying they value a healthy lifestyle and 85% doing fitness activities regularly.

While 68% of Canadians said they made progress to their ambition in the last year, only 58% were somewhat satisfied with the pace of progress and 6% even said they moved further away from their goals.

Younger people are more likely to say they’ve made progress towards their goals than older people, with 81% of Gen Z saying they moved closer compared to 61% of Boomers.

Despite that disparity, both Gen Z and Boomers were more satisfied with their progress (79% and 78%, respectively) than other cohorts. Millennials and Gen X were the least satisfied at 73% and 71%, respectively.

Gen Z are more likely than Boomers to set larger and more ambitious goals, want to achieve goals in the short-term and impress others, and prize material possessions.

“This highlights a potential influence of social perceptions and material success on their ambitions,” the report said.

While 44% of Gen Z say money doesn’t impact ambition, 64% said financial constraints were a barrier to achieving their goals and 42% felt blocked by environmental factors like the economy.

Nearly nine in 10 (89%) Millennials said they prioritize financial independence. As they grow in their careers, 71% want to achieve leadership roles at work.

Millennials want to save money, spend quality time with family and friends, and reduce stress, according to the report. “These priorities reflect their desire for financial security and a balanced lifestyle amidst career and family responsibilities.”

Although 45% of Millennials care about material possessions, four-fifths said they wanted to travel, indicating a greater desire for experiences.

Gen X reported moderate progress and satisfaction in health and financial stability as they balance between career and family demands.

Over four-fifths (85%) of Gen X emphasized their family’s financial security. At the same time, 78% said they valued continuous learning and personal development.

“This highlights their adaptability and commitment to personal and professional growth,” the report said.

Boomers valued a healthy lifestyle (93%) more than any other generation and 82% wanted to have strong personal relationships.

“Their ambitions reflect a shift towards sustaining health and enjoying quality time with loved ones,” the report said.

The survey by Ipsos in October 2024 involved 2,500 English and French speaking Canadian adults weighted by age, gender, region and education to reflect the country’s population.