Jun 29, 2026
As you grow up, it’s easy to picture your life’s trajectory: finish high school, go to college, graduate, get a job and start living in the world on your own as an adult.
Unfortunately, this isn’t the reality for many Americans. According to Northwestern Mutual’s Planning & Progress study, the average age Americans say they achieved —or expect to achieve — financial independence is 37. This is approximately 20 years after the average American’s high school graduation.
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The study also found that 53% of millennials and 72% of Gen Z are not fully financially independent from their parents. But it’s not just younger generations that are feeling a strain on their financial independence, 22% of both Gen X and Boomers and older do not expect to become financially independent, ever.
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Despite these statistics, you don’t have to accept your fate of remaining financially dependent well into adulthood, and “moneymaxxing” could be the start of your journey to getting there.
What is moneymaxxing?
Anyone who spends even a few minutes on social media these days is likely to see the word “maxxing” floating around with other words like “looks”, “vibes” and “solo” preceding it. The latest, however, is moneymaxxing. And it could actually help your finances.
Moneymaxxing is a way of managing your money that maximizes the potential of every dollar through various methods. Here are some examples of moneymaxxing tactics:
- Move savings into accounts with the highest possible yield.
- Optimize where your money is allocated by thoroughly reviewing your investments.
- Use rewards programs to their fullest potential.
- Eliminate unnecessary spending on things like unused subscription services and non-essential shopping.
In a LinkedIn post, Certified Financial Planner and Chartered Professional Accountant Felicia Greenwald of Aventurine Planning wrote “Everyone’s talking about looksmaxxing… But moneymaxxing is a little less obvious. Not flashy. Just effective. Moneymaxxing isn’t necessarily about having more money. It’s about creating more options for your life.”
When Moneywise spoke with Greenwald over e-mail she added, “Moneymaxxing is gamifying saving money and squeezing out the most of everything you do, including credit card points, celebrating seeing your savings move up each day, and turning every day into adding more into the right accounts and making more money to fill those buckets up quickly.”
We asked Greenwald what moneymaxxing tactics people who are striving to be financially independent should start with, and she laid out three key steps:
“To really maximize moneymaxxing in this situation first: focus on high interest debt. If you have credit card debt, destroy it first. No savings account or stock market index fund will consistently beat the 20%+ interest rate [that you’re] racking up here. Second: Build a Frictionless Emergency Fund: open a High-Yield Savings Account (HYSA) and set up automatic monthly transfers. This creates a baseline of capital for when you eventually move out. And lastly: Exploit Tax-Advantaged Accounts: If you earn income, maximize your future self. Invest in your company’s 401k (at least up to the employer match — that’s free money) or open a Roth IRA. Time in the market is your greatest asset right now.The ultimate goal of moneymaxxing isn’t just hoarding cash, it’s optimizing every single dollar to buy your future independence.”
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Why you may want to start moneymaxxing as soon as possible
Besides the urge to feel more of an adult by not relying on others financially, Northwestern Mutual’s Planning & Progress study revealed a stark reality that further emphasizes why people need to maximize their money ASAP.
According to the study 43% of millennials don’t have a retirement account and 31% don’t have a savings account. The survey also found that 79% of Gen Zers and 66% of millennials don’t even have an emergency fund. Without any savings to your name, becoming financially independent will feel pretty impossible.
“People see savings as something that limits them, but saving creates more flexibility for options in the future. Someone young might not be sure they want to FIRE (Financial Independence, Retire Early) but will still save for a bougie futuremaxxed lifestyle” Greenwald told Moneywise.
Following the mindset of moneymaxxing can urge you to get your start by encouraging awareness of your finances, promoting intentional decision making and creating a momentum that inspires you more to reach your goals. Plus, the social component of people sharing their moneymaxxing journeys online can be a great motivator, too.
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Em Norton is a Content Specialist at moneywise.com. They have been with the company since 2022.
