People have different ways of gauging financial success, which are mainly affected by how each individual meets their needs. According to a 2024 survey by Empower, Americans need $270,000 to feel financially successful, but this amount changes by generation. Baby boomers are satisfied with $100,000, Generation X wants $212,000, Millennials say $181,000, Generation Z, which is the most confident, aiming for $588,000 , and they believe they can attain it, considering it is too high.
The survey shows that different generations see success in different ways, depending on the age group. As the older generation focuses more on stability and security, while the younger generation focuses more on their lifestyle and activities, owning a home, and personal freedom, these connect to what they perceive as success.
Research suggests that these ideas were influenced by upbringing, or how they grew up and their life experiences. Therefore. The differences will help us focus on what we need rather than comparing ourselves to others. A realistic goal, together with planning and saving, promotes confidence and peace of mind, no matter the generation.
© 2025 Mariah. All text in this article is original content (OC) written by the author.
Reference:
Empower. (2024, September 13-14). Secret to Success: Insights into Americans’ definitions of financial success [Online survey of U.S. adults]. Empower.
https://www.empower.com/the-currency/money/secret-success-research