Here's the average salary each generation says it needs to feel 'financially healthy.'

[SBFNews]

Here's the average salary each generation says it needs to feel 'financially healthy.' Gen Z requires a whopping $171K/year — but how do your own expectations compare?​

Serah Louis
April 11, 2023

As the global COVID-19 pandemic rages on, another “health” crisis has been plaguing the U.S.

Almost 4 in 10 Americans say they feel “financially unhealthy,” as prices remain high after a year of record-breaking inflation. However, how much you think you need to get financially well may depend more on what year you were born than how much is sitting in your bank account.

Gen Z says they require an average salary of $171,633 to feel financially healthy — the highest income compared to older generations — according to a survey from personal finance company Personal Capital and retirement plan provider Empower, conducted by The Harris Poll.

How much each generation needs to feel ‘financially healthy’​

Here’s how much each generation says they need to earn to feel comfortable:

• Gen Z: $171,633
• Millennials: $133,758
• Gen X: $112,222
• Baby boomers: $78,317

However, when it comes to how much savings these generations believe they need stashed away, the numbers drastically differ.

• Gen Z: $105,299
• Millennials: $349,784
• Gen X: $566,975
• Baby boomers: $764,999

Although Gen Z has the highest salary expectations to be financially healthy, they have the lowest expectations when it comes to how much they need in savings — and vice versa for boomers.

Paul Deer, vice president of advisory service at Personal Capital, theorized to CNBC that this might be connected to the housing market. Younger generations may feel they need a higher income to afford expensive mortgage rates and to plan for their retirement.

Source:https://finance.yahoo.com/news/heres-average-salary-generation-says-140000949.html

 

[laksaboy]

Why care so much? You won't take a penny to the grave. You could be happily minding your own business while walking on the streets, or jogging at a park, and your life gets snuffed out in an instant.

 

[Chase]

Uni fresh grads earning more than SOS these days, i should kill myself.
Then fresh grad SYT told me, "But uncle, you managed to your hdb at 1/3 of today's prices"

 

[Scrooball (clone)]

Gen Z better know how to bend over and suck a mean cock if they wanna be earning that kind of salary.