A survey of 2,200 Americans shows Gen Z thinks you need $587,000 a year to be successful, while baby boomers say $99,000. The gap comes down to what each generation grew up with: boomers had rising home equity and stable jobs, Gen Z faces student debt, housing costs, and social media pressure.
How much money do you need to be, well, winning at life in the United States? Baby boomers thought that number was $99,000 a year, and Gen Z, they say that number is $587,000 a year. What? These numbers are both crazy. Let's break it down. This particular study asked 2,200 adult Americans how much money it takes to be, well, successful. So what's up with Gen Z, the young people, and baby boomers, well, being so off the mark? Well, it all comes down to perspective bias. Basically, the way you see the world is determined by the circumstances in which you grew up. Baby boomers, they're either retired or many of them are, well, off with lots of wealth from highly increased housing prices and savings. Then there's Gen Z. There's crazy house prices, spiraling rent, student loans, COVID, and, well, politics and the social media has been pretty wild for the last decade. So to them, they don't feel safe unless they've got a mountain of cash to fall back on. And when a company tells them to pay their dues, what they hear is put your future in our hands, which is a big nope for Gen Z. And that's why they're job hopping faster than ever. And it's changing the business world completely. Want to know more? Check out the full video here.
