Advocate for financial empowerment, literacy, and independence. Advisory solutions and problem solving for businesses; risk management, business planning, building brand equity, capital raising and more.
There's outliers and then there's OUTLIERS!!! Everyone has a different definition of financial success. Salary is just one (clearly very important) piece. But there's a lot more to everyone's story. What I've found is people reach a level they thought in the past was successful and still don't feel made satisfied or whole or even secure at a fundamental level. Expenses go up just as fast as incomes do, sometimes at a much faster rate. It's not just what you make or even what you keep. It's how you view, control, and use the tools that having better salaries, more money, greater opportunities give us access to. The experiences we can have. The legacy we create. But if our entire concept of success is set at impossibly high hurdles, what are we setting ourselves up for, especially a generation coming up right now? We have to have a mindset of thankfulness, gratitude, and appreciation for what we have, at every level. It's light years ahead of previous generations despite all the challenges that need to be overcome. What do you think?
Where did this idea come from, fantasy land?
So we’ll said Ariel!
Great post Ariel Serber!!
I honestly don't think Gen Z is so far out of whack. When I was 18 if you told me I'd be making over 100k by the time I was 40 I would have thought 40 year old me had made it. Now living that reality I struggle to pay all my bills and still have money left over to save for retirement. I was lucky enough to get into the housing market just before it went insane. Gen Z doesn't even have the safety of equity, as they've been entirely priced out of the market. You people can make fun of Gen Z all you like, say they're living in a fantasy world, say they're financially illiterate. I think this is just the first generation to see what's actually going on and where we're headed. They are financially literate to understand that by the time they hit 40 500k is probably what they will need to realize the same quality of life their parents and grandparents enjoyed. The people I see making fun of Gen Z the most is boomers, the most entitled, lazy, self-centered generation in history. These are the guys that were given everything by the greatest and silent generation, cheap housing and cost of living, a well paying single earner job, a booming economy, then they pull the ladder up behind them.
Success, especially financial success, is such a nuanced and deeply personal concept. What resonates with me is your point about how people often reach a level they once deemed "successful" only to find it doesn’t deliver the satisfaction they expected. It highlights how fleeting the goalposts of "success" can be when tied purely to numbers. I believe the key lies in cultivating a sense of gratitude and purpose alongside financial goals. When we align our resources—money, time, and energy—with our values, we not only create meaningful experiences but also a legacy that goes beyond just accumulating wealth. It's about using those tools wisely to craft a life that feels rich in every sense. For the next generation especially, I think this shift in mindset—valuing progress over perfection and being present in the journey—could help redefine what true success looks like.
If you take out GenZ it drops to $164.4K, which is realistic. I think that I'd be asking a Gen Zer why they think they need to earn over a half million at between 28 and 12 years old.
It also depends WHERE you are in the world! In the NY and CA areas of the US, the cost of living is insane for anyone! Even if you can afford it you’re shaking your head all day every day. It’s not a sustainable way to live. At least here in NY - It makes sense the younger generation is shooting high. They don’t have much choice.
Advocate for financial empowerment, literacy, and independence. Advisory solutions and problem solving for businesses; risk management, business planning, building brand equity, capital raising and more.
3 个月Via this Axios piece https://www.axios.com/2024/11/22/boomers-gen-z-millennials-financial-success