The rise of the “wealth multitasker”

Americans see multiple paths to wealth — with investing (26%), career advancement (25%), and retirement savings (24%) all ranking nearly equally, according to new Empower research. And while 24% of Americans worry they're starting too late to build real wealth, nearly 30% feel optimistic about reaching financial milestones in their lifetime.

Key takeaways

• 40% say they're building wealth now in order to save for a comfortable retirement and close to a third say a top motivation is to achieve early financial independence (31%).  
• Close to 1 in 5 say they actively spread their efforts across multiple wealth-building strategies.
• Half (46%) believe rising costs and inflation will have the most significant impact on their wealth-building in the year ahead.
• Americans see multiple paths to wealth like investing (26%), career advancement (25%), and retirement savings (24%).
• Nearly 30% of Americans feel optimistic about reaching financial milestones in their lifetime.
• More than a quarter say the secret to building wealth is sticking to a financial plan (26%) and seeking financial guidance and knowledge (23%).

Americans balance multiple wealth-building strategies

Overall, Americans view the top pathways to long-term wealth building as a combination of retirement savings (24%), investing (27%) and career advancement (25%).  

Others prioritize moving money into high-yield savings accounts and CDs (22%) or investing in real estate (20%), showing the breadth of Americans' approaches to financial growth.

In the last five years, 15% say they've actively started diversifying across a range of wealth-building strategies. For some, this means pivoting from saving to strategic investing (18%), while others are opting to pay off debts before they think about growing their portfolios (22%).

One in 5 say they've become more conservative about financial growth due to market volatility over the past five years. And looking to the future, half of Americans (46%) believe rising costs and inflation will have the most significant impact on their wealth-building efforts in the year ahead. 

But while 24% of Americans worry they're starting too late to build real wealth, nearly 30% feel optimistic about reaching financial milestones in their lifetimes. 

Discipline is a top factor for wealth growth

For Americans, discipline and consistency (32%) are important factors for building wealth, over earning power (21%), luck (15%), and family support (12%). 

But there's more than one way to succeed: Other core factors for growth include living within your means (28%), sticking to a financial plan (26%), seeking financial guidance and knowledge (23%) and making smart investments (24%). Nearly a quarter believe that a positive mindset (23%) is as important as earning a high income (21%) when it comes to building wealth effectively. 

Together, these factors show that Americans value diverse, proactive approaches to growth instead of waiting on a windfall. Even as the "Great Wealth Transfer" looms, only 15% expect to receive a significant inheritance that helps them reach their financial goals.

Saving for a comfortable retirement

 Just under 40% say they're building wealth now in order to save for a comfortable retirement, and close to a third (31%) say a top motivation is to achieve early financial independence. 

One in 3 prefer to enjoy their money today instead of setting it aside for the future (30%). This number is even higher for Gen Z, 37% of whom would rather spend their money now and focus on building lasting wealth later. 

Diving deeper into retirement, people have split expectations: 24% expect to retire early, while 25% plan to continue working past 65 — a reminder that wealth-building timelines can vary.

Expectations aside, Americans agree that success today hinges less on picking the perfect strategy and more on discipline, diversification, and taking the long view. 

Additional findings: 

• Slow and steady: Young Americans are more likely to take a conservative approach to wealth building than their parents (30% of Gen Z vs. 10% of Gen X).
• Set it and forget it: Over 15% of Americans want to go hands-off and build wealth through automated investing.
• Playing catch-up: Over 1 in 4 Americans (26%) feel they're financially behind compared to previous generations.
• No pressure: Only 13% of Americans say they feel pressured to keep up with peers' wealth-building efforts.

Methodology:
Empower's "Wealth-Building Strategies" study is based on online survey responses from 1,223 Americans ages 18+ on July 16, 2025.