Gen Z wants to retire early, but they’re finding that the cards are stacked against them

Much like the precociously depressed Charlie Brown, Gen Z is looking at their career trajectory and feeling some grief—or "good grief" in particular. Wading into a more challenging economy than their parents, these junior employees are finding luck is just not in their favor when it comes to saving up enough money to leave the workforce.

Almost all (99%) of Gen Zers report they've faced hurdles in saving for a comfortable retirement, according to Charles Schwab’s annual 401(k) Participant Survey of 1,000 U.S. adults. That’s a 9% increase from last year.

Having had more time to save, other generations are also worried but not quite as much—88% of millennials, 91% of Gen Xers, and 86% of boomers say they’ve struggled to save for the light at the end of the retirement tunnel. Still, those percentages are quite high, indicating that retirement requires an ostrich-sized nest egg these days. Experts agree that $1 million is no longer enough to comfortably leave the workforce. 

Indeed, Gen Z says inflation is the biggest foe when it comes to saving for retirement (at 54%), followed by paying monthly expenses (35%) as well as unexpected ones (31%). With entry-level salaries and less time to build wealth, they can easily find themselves living paycheck to paycheck during times of economic volatility. They're also grappling with the return of student loan payments, a difficult housing market, and a world of increasing wealth inequality. Some have even taken on extra gigs in order to make ends meet. Many—alongside millennials—believe they’re “starting further behind financially” than other generations when they were the same age, per a survey from USA Today by the Harris Poll.

Everyone is feeling like they’re slipping behind, though; BlackRock’s 2023 Read on Retirement report shows that the number of employees who feel unsure they’ll be able to reach their ideal retirement lifestyle has more than doubled since 2021. But Gen Z is the most wary of them all, the report finds. 

Anxiety and obstacles be damned, though—the generation is still trying to make strides as much as they can. They're 32% more likely to invest in their employer’s retirement plans than their coworkers were when they were the same age, according to a report by Vanguard.

But if the economy continues to go in an expensive direction, Gen Z will likely have to save more than their parents and grandparents did and might have to buckle up for a longer career trajectory than they want. Most of them would like to retire at 61, Schwab’s report finds, compared to millennials who expect to retire at 64, Gen Xers at 65, and boomers at 68. It’s likely not a good sign for the youngest generation that boomers are finding that as they live longer, they’re more likely to work longer to cover their expenses.

“We’ve seen a bounce back in people returning to the workforce since the initial wave of pandemic resignations, mainly for economic reasons,” Andrew Schwedel, partner at Bain & Company, told Fortune. “In addition to increased inflation and a tapering of stimulus programs, people also have a need for greater income as they live longer.”

It’s the great retirement journey, Charlie Brown.

This story was originally featured on Fortune.com