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Why Gen Z's idea of 'financial success' is so vastly different than every other generation

A salary of nearly $600,000? Are they serious?

Photo credit: Canva

Gen Z's financial expectations are miles above the rest of us.

Have you ever thought about what threshold of income or net worth would make you feel successful financially? Not merely getting by or making ends meet, but like you've achieved a level of wealth that feels comfortable and secure? That number depends on a lot of factors, of course, depending on whether you have a family, the cost of living in your area and more. But as a survey of over 2,200 American adults shows, it also depends on your generation.

Averaging the numbers overall, Americans said a salary of $270,214 a year and a net worth north of $5.36 million would spell financial success for them, according to research from Empower. But those numbers are greatly skewed by the lofty ambitions of Gen Z, who say they'd need a whopping $587,797 a year salary to feel successful. Compared to Boomers with $99,874, Gen X with $212,321 and Millennials with $180,865, Gen Z's "financially successful" salary (as well as their response of $9.47 million for net worth) seems extraordinarily out of touch.

media.giphy.com

Keep in mind, these numbers come from Gen Zers who are 18 years and older, so it's not like it's skewed by a bunch of 13-year-olds who have zero concept of money management. But how did young adults end up having such high expectations of what financial success means?

Here are a few possibilities:

Gen Z has been bombarded with aspirational content their whole lives

Instagram, TikTok, YouTube—these social media platforms include countless accounts designed to make us drool over aesthetics. Luxury travel. Beautiful homes. Fashionistas flashing name brand everything. The kind of content that used to be confined to "Lifestyles of the Rich and Famous" (yes, I'm dating myself) has moved into the mainstream and is now portrayed as a normalized ideal.

For older generations, "financially successful" generally meant being able to afford a nice house in a nice neighborhood, two new cars, a vacation every year and a solid retirement plan. It meant being able to send your kids to college and pay for a beautiful wedding without going into debt. It meant not worrying about money, but it didn't mean being able to afford all manner of luxury. Perhaps Gen Z sees success differently due to what they've seen on social media—and due to being the most marketed to generation in the least traditional ways.

via GIPHY

Gen Z is influenced by influencers who've gotten rich young

In past generations, wealth came with age and experience. Sure, there have always been people born into generational wealth, but if we were talking $600,000 a year salaries, we'd be talking CEOs and hedge fund managers and heart surgeons other careers that take some time to build.

But Gen Zers see YouTube creators and Twitch streamers their own age making millions doing things they believe they can do themselves. That's got to skew your perception of what's possible and what's a reasonable amount of money you can expect to make. It's entirely possible that a lot of these young adults simply don't realize what a normal salary is. Considering the fact that their "financially successful" amount is nine times the 2023 national average yearly wage, there does seem to be a disconnect between their perception and reality.

Gen Z grew up hearing repeated messages of financial uncertainty

Gen Zers are familiar with financial crises. They just started coming along when 9/11 happened, and they were still little when the housing market crashed. They've grown up hearing their parents talk about financial upheaval and hearing politicians use the economy as a weaponized talking point. The COVID-19 pandemic threw even more economic uncertainty on an already teetery foundation, right when a lot of Gen Zers were just starting to make their own money. Toss in the bonkers cost of college tuition, unaffordable housing and post-pandemic inflation and it's not hard to see why young adults just starting out might be under the impression that they need a megaton of money to feel financially secure.

media.giphy.com

Oddly enough, they're quite confident that they'll get there

One might assume that these sky high Gen Z dreams of financial success would feel out of reach for these young folks, but according to Empower, 71% of Gen Z respondents said they expected to achieve financial success in their lifetimes—more than any other generation. Is that an admirable sense of optimism or the hubris of youth? Are they setting themselves up for success or disappointment with such expectations? Hard to say.

We live in unprecedented and unpredictable times, so anything is possible. And if you're going to have high expectations, you might as well have the confidence to match them. We olders might roll our eyes at Gen Z's standard being so much higher than our own, but maybe they're onto something. (After all, a good chunk of them seem to be getting by without driver's licenses, so who knows what else they're capable of.) Dreaming big has its merits, so more power to you, Gen Z. Only time will tell if reality has other plans.

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Joy

People born between 1954 and 1965 are thrilled to learn they're not boomers, but 'Gen Jones'

"Whaaat? There's a name for us? I have never felt like a real boomer—or Xer! I feel normal for once!"

Photo credits: Michelle Obama, Montclair Film, Georges Biard

Michelle Obama, Stephen Colbert and Michelle Yeoh are all Gen Jonesers.

The Silent Generation. Baby boomers. Gen X. Millennials. Gen Z. Gen Alpha. Social science and pop culture commentators have spent decades grouping and analyzing the different generations, assigning various qualities, habits and tendencies to each age group.

But some people don’t identify with their generation, or at least these particular categories of them. Those on the cusp between two generations often feel like neither aligns with who they are..

That’s where Generation Jones comes in.

Like the Xennials that straddle Gen X and millennials, Generation Jones are not quite boomers but not quite Gen X. For most of their lives, those born between 1954 and 1965 have been lumped in with the baby boomers, but culturally they’ve never quite fit. They were too young to be involved in the major civil rights, women’s liberation and Vietnam war movements of the 60s, instead witnessing those social upheavals through children’s eyes. But they were also too old to identify with the Gen X latchkey kid angst.

Jonathan Pontell is the television producer, director, and writer who named Generation Jones and explained what made them unique. “We fill the space between Woodstock and Lollapalooza, between the Paris student riots and the anti-globalisation protests, and between Dylan going electric and Nirvana going unplugged,” he wrote in Politico in 2009.

He also explained why Gen Jonesers make good leaders:

“What makes us Jonesers also makes us uniquely positioned to bring about a new era in international affairs. Our practical idealism was created by witnessing the often unrealistic idealism of the 1960s. And we weren’t engaged in that era’s ideological battles; we were children playing with toys while Boomers argued over issues. Our non-ideological pragmatism allows us to resolve intra-Boomer skirmishes and to bridge that volatile Boomer-GenXer divide. We can lead.”

Many Generation Jonesers have never felt like they had a generational home and are thrilled to learn they actually do have one. Check out how Upworthy readers responded with glee upon discovering they were a part of Gen Jones:

"Thank you! As a definite Gen Jones, I completely relate to this. To young to be a hippy, therefore was never a yuppy, but too old to be Gen X. Gen Jones works just fine."

"I have said for decades that I must be a transitional person into Gen X, because I don’t relate to boomers! I appreciate them, but I am not one of them. I am glad someone finally named my generation!"

"There are definite differences between people born in the 1940s/1950s and those of us born in the early 1960s. Most of us born in the early 1960s do not remember the JFK assassination and we were much too young to participate in Woodstock. The older Boomers were already established in their careers and as homeowners with families in the 1980s when we were in our 20s just starting out and ready to buy our first home. While the older Boomers experienced reasonable mortgage interest rates, the early 1960s Boomers faced mortgage interest rates averaging 14 percent in the 1980s which made it more difficult for us to buy our first home. We definitely need an additional group between Boomers and Gen X, and Generation Jones fits the bill."

"I was born 6 days before 1960…. I’ve felt out of touch with a lot of the boomer life descriptions, and not Gen X enough to fit in there. I’ll take Generation Jones."

"1957 here, with older siblings born before 1950. I definitely did not have the same experience growing up that they had. I feel I can identify a little with Boomers and a little with the Gen X experience, so there’s some overlap. (BTW, Gen X needs to stop claiming that they’re the first to have experienced all the things we grew up with. Kids, you didn’t invent drinking out of the garden hose or playing outside until the streetlights came on. Sheesh!) Glad to be a Joneser."

"Of course there is a difference between people raised in the 1950’s and people raised and coming of age in the 1960’s and 1970’s. Society changed a lot in those three decades."

"This is my generation but I never knew we had a name! The description fits perfectly."

Congrats on finding your people, Gen Jones. It's your time to shine.

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'Adults' are honestly confused by these 15 things the younger generations are into

Why do they love to record themselves crying?

via Anna Shvets/Pexels

Teens staring at a pink phone.

Every generation is different from the one that came before. It makes sense. Every group grows up in different economic, cultural, and technological circumstances, so of course they’re going to have different tastes and values.

It’s also natural for younger generations to rebel against their parents and create their own unique identities.

However, these days, with the rapid changes in technology and culture spurned on by the internet, for some older people (Baby Boomers, Gen X), the younger generations (Millenials, Gen Z, Gen Alpha) are downright confusing.

Further, Gen Z and Gen Alpha were raised during the pandemic, the #MeToo movement, and the murder of George Floyd, which have had an enormous impact on how they see the world.

To help the older folks who may be confused by “kids these days” feel less alone, a Redditor named 5h0gKur4C4ndl posed a question to the AskReddit subforum, “What is something about the newer generations that you can't seem to understand?” A lot of the responses were centered around the younger generations’ relationship to technology.

The older generations also seem concerned that younger kids are a lot more prudish than their parents and should learn how to lighten up and have some fun — a big role reversal from previous generational wars.

Here are 15 things about the younger generations that older people don’t understand.

​1. Recording yourself crying

"THIS IS THE ONE. I do not know how intense your desire for external validation has to be for you to be in the midst of crying and think 'Lights, camera, action baby let's make sure as many people see this as possible.'" — Thrillmouse

"People who record themselves crying are already weird but posting it on the internet is weirder. imagine clicking 'post' to every social media they have. do they seriously not look at what they're posting online?" — TryContent4093


2. Poor grammar

"The emails I get from my students aged 18-25 are such a mess of incoherent garbage, I can't tell if they are lazy or if it's an actual literacy issue. And I'm barely older than they are so if this is a generational gap, it happened quickly!" — NefariousSalmander

"It's a block of text with no capitalization or punctuation. Imagine receiving 6 consecutive one-line texts at once. If you can figure out where the periods should go then you can make sense of it, but it's all texting abbreviations and slang. Something like, 'yo mr y u slow fixin my grade I trned in the lab last class my dad gonna take my phone lmk.'" — Ceesa


3. Learned helplessness

"I'm a middle school teacher. My kids will routinely claim they can't do anything and then shut down and do nothing. And then... It's easy and they do it. So basically it's the degree of learned helplessness. They know to ask when I go over, but if there are twenty kids and I get to them last, they will do nothing (no phones, nothing!) for twenty minutes and act surprised I'm irritated they didn't grab a damn pencil from the freeeee pencils on my desk. And then act surprised they're behind on the assignment!" — Scarletuba


4. The internet is forever

"The lack of understanding that things put on the internet are public forever." — Leading_Screen_4216


5. No self-confidence

"37-year-old attending college for the first time here. They have negative confidence. They barely speak above a mumble, especially when answering a question from the teacher. Most of them would rather die than talk to someone they're interested in. It's like 90% of them are cripplingly introverted." — Intelligent-Mud1437

6. They need attention

"We were saying what we would do if we won the big lottery jackpot. The new 22-year-old hire said he’d become an influencer. Can you imagine winning a billion at 22 and that’s what you would do? Not start a business, travel the world, charity, sports, property… Learn something… but become an influencer… with a billion dollars. I mean, like, he’s gonna hire a marketing company to fabricate interest in his social media? He’s gonna spend money on stupid things to make people cringe or rage comment? With a billion dollars." — Covercall


7. Put your phone down

"Why do you want to watch 100% of a concert, that you paid good money for, through your phone lens?" — LeluWater

"I was yesterday in a Linkin Park cover band concert, a fuckin blast. There was that one guy, that spent every song recording HIS FACE 'singing' along. Not the band, his face. Please wake me up in 1995." — pls_tell_me

8. Phone at the movies

"Why do they go to the movies only to scroll through their phone the entire time?" — IAmASurgeonDoctorHan

"My wife does this. Not at the theater, but we'll be watching a movie or TV show, and she'll be glued to her phone. Then when she looks up she doesn't get what's going on and we have to pause while I explain what just happened and why." — Project2R

9. Paranoia

"I’m in my forties and I manage a small group of people who are in their 20s to early thirties. What I notice most is how anxious and fearful they seem to be. Everyone is out to get them. I often get approached by subordinates who want me to do something about a colleague who is doing them wrong in some way. After I gather more information, it almost always is a case of poor assumption about someone else’s intentions, coupled with a desire to jump to the worst-case scenario. If I ask them a series of probing questions about other possible interpretations they often admit they didn’t consider those possibilities." — Reasonable_Human55

10. Putting on heirs

"I don't understand why most of them want to look rich with expensive s**t and most of them act like they run businesses or something.They take pictures with cars that are not theirs for example. Dude chill, you're 16." — Honest_Math7760

"Because they are indoctrinated by social media that tells them they are a failed human if they don’t become a multi-millionaire entrepreneur." — Outrageous_Glove_467

11. The new Puritans

"This weird new Puritan wave they are riding on. We struggled for generations to free ourselves from oppressive dogmas, and now they are all-in on the whole: 'if you like anything even remotely non-wholesome, you should be arrested and burn in hell.' ... Constantly calling for bans on anything that upsets them, instead of learning how to avoid the things that upset them." — SleepyCera

"The prudishness is so weird to me. Hearing young people talk about body counts' and how you should be married with kids by the age of 25, or you’re past your prime is absolutely insane. Even my Christian grandparents weren’t as sexually conservative as this generation. The complete demonization of partying, drinking, and going out is weird too—like I can see being traumatized by fentanyl and the general lack of safety around drugs, but I did most of my socializing as a young person by going to concerts and nightlife events and meeting people, and they seem to just…not do anything social?" — Counterboudd

12. Can't handle stress

"The absolute lack of capacity to deal with any emotional stress or upheaval without turning into a gibbering mess. ...I had someone messing around in a lecture, playing with their phone and being disruptive. I stopped the lecture and told them to put it away and pay attention or leave. They looked SHOCKED to have been called out and sat there quietly for the next 10-15 minutes until suddenly going all 'deer in the headlights' when asked a question in relation to the topic and then running the full length of the lecture hall and out the room. I was informed the following day that the student had went to counseling services to complain that I had 'put unreasonable pressure on him by asking him questions in class, and set off his anxiety.'" — Indiana_Harris

13. White socks with sneakers

"How pulling up white socks with sneakers was the most unfashionable middle-aged American dad clothing in the entire world. To being fashionable." — Awkward_Moments

"Socks with sandals too. And mustaches. Kids today think dressing like a dorky dad thirty years ago is cool. I laugh at them all the time." — IDigRollingRockBeer

14. Watching video games

"Why they'd rather watch someone else play a video game than play it themselves. That was a punishment when I was a kid, not entertainment." — DeadDevilMonkey

15. External stimulation

"Will never understand the constant need for external stimulation. I’m quite happy just to ponder my own thoughts. I love flying, because it gives me several hours to think on shit without distraction. Ask young people to put down their phone? It’s as if you asked them to chop off their left hand." — Midnight_Poet


This article originally appeared on 4.9.24

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Dad challenges his Gen Z daughter to figure out 3 things about a U-haul truck

The look on her face when she sees the manual window.

@davidcsmalley/TikTok

But can she start it?

David C. Smalley, a comedian and podcaster, regularly gives us some generational humor by exposing his 19-year-old daughter Talissa to relics of the past. You know, things like CDs, phonebooks, remote controllers…feeling old yet?

Recently, Smalley challenged Talissa with navigating a standard U-Haul storage truck. She had to 1) unlock the door 2) roll down a window and 3) start the engine.

For those of us who grew up before the 90s, this might sound like the easiest challenge ever. But apparently, for Gen Z, it’s like being asked to maneuver a horse and buggy.

Despite growing up in a key fob generation, where simply pressing a button on a tiny remote controller could magically open doors, Talissa aced unlocking the door with a key.

Next, she was understandably baffled over the amount of physical labor required to simply roll down a window.

“Are you serious? They haven’t updated that?!” she exclaimed while doing the tedious hand-cranking move we all know so well. “Are you kidding me?! I would not do this every time.”

She definitely had a point on this one. Electronic windows have been the standard for decades. Is U-Haul just sentimental or what?

Having checked off two of the three tasks, Talissa then had to start the car—which proved to be the biggest challenge of all.

Looking on the center console, where she’s used to seeing the ignition button, Talissa found the airbag and radio (two foreign objects in their own right) but no way to start the car.

Finally…success! Talissa found the ignition hiding behind the steering wheel.

“I’m not going to make it explode, am I?” she joked as she turned the key and celebrated her victory.

Watch below. Hearing Talissa ask if the radio is a “fidget game” is entertainment in itself.

@davidcsmalley #daughterissues #daughterpod ♬ original sound - David C. Smalley

It’s always fun to see the ways in which different generations navigate the world through fashion, slang, entertainment, dating, food, the list goes on. But technology, which continues to evolve at a rapid rate, always feels like the biggest culture shock.

And unlike bell bottoms, outdated tech rarely makes a comeback. So once the more energy efficient, more convenient appliance becomes mainstream, its predecessor is forever obsolete. Unless of course you count the cool, hipster folks hanging onto vinyl for the superior sound quality.

Speaking of vinyl, Talissa was also previously challenged by Smalley to work a record player, to equal hilarity:

@davidcsmalley #daughterissues #daughterpod #genz #genx #recordplayers #vinyl #talissa ♬ original sound - David C. Smalley

Somehow, seeing how far we’ve come through the look of bafflement from the young ones is the only thing that never gets old.

Enjoy more fun interactions from Smalley and Talissa on TikTok.


This article originally appeared on 9.25.23

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