Nearly half of Americans would rather give up their future financial security than their smartphones or other possessions, says a survey by Voya Financial released Friday.
The survey of 1,018 adults by Voya’s Annuities and Individual Life businesses shows that 45 percent of Americans would be willing to risk their financial security to keep some of their most-valued items, such as smartphones, cars or vacations.
Differences exist between the generations. The survey shows baby boomers are more attached to their smartphones than millennials, and although they are younger, millennials are the least willing of all generations to give up their financial security in exchange for possessions.
Fifty-six percent of millennials say they value financial security above smartphones, cars or vacations, while 53 percent of Gen Xers and 50 percent of boomers agree.
Voya says financial planners can help all generations balance these conflicting desires.