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Are Gen Z Spoiled and Entitled, or Just Realistic About Finances?
They define financial success as a multi-million-dollar net worth
There have been a lot of social media posts recently about how delusional Gen Z are when it comes to finances, with one much-shared post stating one particular statistic.
The stat was pulled from a survey conducted by Empower and reported in Fortune, and the soundbite being widely posted (and ridiculed) is this:
Gen Zers on average believe an annual salary of $587,797 and net worth of $9.47 million are needed when they envision “financial success.”
Older generations have different views, with Gen X defining financial success as an annual salary of $212,321 along with a net worth of $5.3 million, while Boomers put those numbers at a seemingly modest $99,874 and $1.05 million.
Unsurprisingly the Boomers are (once again) up in arms at what they see as the greed, delusion, and entitlement of youth. But once again it’s probably a simple case of the Zoomers and the Boomers misunderstanding each other.
Gen Z may or may not aspire to these kinds of salaries and this kind of net worth. I’m sure some of them do. However, it’s also possible that they are simply being realistic, given the current cost of living…
