Gen Z Sets Financial Success Bar at $600,000 Annual Salary

A new survey reveals stark generational differences in income and net worth expectations, with younger Americans aiming significantly higher than older cohorts.

A survey by Empower finds the average American believes a $270,000 annual salary defines financial success, over three times the median household income of $80,610.
Gen Z respondents, aged 18 to 27, set the highest bar, estimating $587,797 as the salary needed for financial success, compared to $180,865 for millennials and $99,874 for baby boomers.
Generational disparities extend to net worth expectations, with Gen Z aiming for $9.5 million, while boomers are content with $1 million.
Despite high financial aspirations, 71% of Gen Z believes they can achieve financial success within their lifetime, the most optimistic of any generation surveyed.
Economic challenges, including inflation and income instability, are cited as barriers to success, though hard work remains a key factor for achieving financial goals across all age groups.