Study: Generation Z Says $587,000 Is The MINIMUM SALARY To Be "Financially Successful"
Alexa
I don't have a hard copy of the study but I think the graph does just fine. And before I even hear the inflation train leave the station, let me just be clear that $587,800 is a lot of fucking money. We're talking about Minimum Salary To Be Financially Successful. That's an extremely specific prompt to get to almost $600,000 a year.
But maybe you youngsters are better thinking bigger? Maybe $600k is fucking nothing? At that level you're rich enough to be the poorest guy in the room. It's a nice room but everyone's judging you for being in it. So up your perception to like $5M annually if you want to be unrealistic assholes. That would be the most appropriate starting point.
Another thing - do we blame social media/influencers or cryptocurrency for such a preposterous study? Who gets the lion's share of the blame on this one? Because I can understand the influencer/streamer model normalizing millionaire lifestyles amongst wholly unremarkable teenagers. But at the same time I think crypto's a notably better path to generational wealth with Gen Z and that has to be accounted for in this study.
Ultimately I have no fucking clue other than to say this is another damning piece of evidence in the collective millennial disdain for the younger generation. I'm personally more agnostic, but as a whole, I can comfortably say that my generation hates your fucking guts inside and out. Mostly because we've taken it up the ass, hard, on several occasions only to learn that Baby Boomers NEVER retire. They just die, but that's a different blog.
For now I'm just curious if you guys agree that $600,000 is a high starting point for financial success? Or do the older guys think that's totally reasonable and I should be more concerned about inflation?
Personally I always said $100K was successful and actually now I would take that down to like $45K if you're a coach or doing something awesome. But then probably closer to $200K if you hate your job. Anything in between that can be a measure of the relationship between how much you like what you're doing for a paycheck. And after that, I think you need to hire a money manager and take your shit seriously, which also means no coaching JV football.
So to recap, loosely :
1. Up to $45,000 = you better love your job
2. $45-$200k = how much do you hate your job
3. $200k+ = you can own shit
4. $600K = you have a liberal arts degree from Miami (OHIO)
What's your scale?