The Numbers Behind Financial Success
The survey revealed that the average American believes a yearly salary of just over $270,000 is enough to achieve financial success. However, generational perspectives vary widely:
- Gen Z (born 1997–2012) feels they need nearly $600,000 annually to reach financial success.
- Boomers (born before 1964) estimate they can achieve success with salaries just under $100,000 a year.
| Generation | Birth Years | Minimum Annual Salary | Minimum Net Worth |
|---|---|---|---|
| Boomers | 1946–1964 | $100,000 | $1,049,172 |
| Gen X | 1965–1980 | $212,000 | $5,295,072 |
| Millennials | 1981–1996 | $181,000 | $5,638,205 |
| Gen Z | 1997–2012 | $588,000 | $9,469,847 |
| Actual Average U.S. Salary | $63,975 | $1,060,700 |
The average salary in the U.S. is $63,795, according to the latest data from the Social Security Administration.
Interestingly, from a net worth perspective, Gen Z believes a $9.5 million net worth is indicative of financial success—a figure that is nine times the average net worth in the country.
Out of Reach for Many
According to the survey, 47% of Americans believe they’ll never achieve the level of financial success they desire. Only 37% of respondents consider themselves financially successful right now, with men (42%) being more likely than women (33%) to feel this way.
In addition, just 50% of Americans believe they are or will be better off financially than their parents.
Credit: Visual Capitalist
