While 2.5 kids, a dog and a white picket fence may have been the ideal life for many in the past, millennials have a different idea of success and happiness, a new survey suggests.

Online banking company Varo Money surveyed 1,110 millennials to gauge their perceptions about their current and future finances, as well as their financial goals. They found that many millennials — defined in the survey as those aged 23 to 38 — envision a different type of prosperity than their parents.

When asked to describe the top characteristics of the traditional American Dream, the largest percentage of survey respondents (46%) cited owning a home, followed by financial security/peace of mind (36%) and a steady job with retirement benefits (34%).

However, most respondents said their version of the American Dream was starkly different, with neither homeownership nor a steady job among the top three characteristics named. Instead, the top description of what survey researchers termed the “New American Dream” was financial security/peace of mind, with 42% of respondents citing that quality.

Feeling happy was the second-most-cited characteristic of the New American Dream, with 36% of respondents choosing it, followed by 33% who named having the freedom to focus on individual wishes and needs.

But while the millennials polled were clear about how they wanted their future lives to look, many weren’t optimistic that they would be able to realize their visions. Nearly half — 47% — said it would be impossible to achieve this New American Dream.

They also weren’t too confident about following in their parents’ footsteps and achieving the traditional version either. More than half of survey respondents (54%) said they believed their parents had achieved the traditional American Dream, but 37% said it would be impossible for them to do the same.

Not only did survey respondents recognize that their values were different from those of their parents, but they also had their own ideas about why younger adults tended to view financial success from a different lens.

Nearly half (47%) of respondents said changing social norms led to the shift in priorities among generations. However, many believed economic hardships and technological advances also played a role. Approximately 43% said student debt contributed to the change in values, 43% cited a tougher job market, 39% said the impact of technology played a role, and 16% said climate change was a factor.

A majority of respondents (54%) also reported experiencing anxiety over financial pressure, while only 5% of millennials said they have no money problems.

Everyone has their own vision of happiness, and money may or may not play a role in it. For example, many employees would give up receiving a higher salary if they could find more meaningful work.

However, having some level of financial stability gives you the freedom to pursue other ideals. There are a number of strategies you can use to get there, including finding ways to save money more effectively.