Gen Z thinks they need almost $9.5 million to be financially successful after anxiously watching their parents unretire

12 comments

1. Probably accurate.

2. Wonder if there is a degree in The Climate Wars I should get?

3. I think a lot of people are really bad at estimating income/money.

   If you made 100k/year post tax (approx 160k) and worked from 22 to 62, you would have made a total of 4 million. This article is saying on top of that, to retire for approx 20 years you would need more than double that in half the time. Not to mention generally when you retire your mortgage is paid off which is your largest expense.

4. 9.5 million to retire? I get it if it means retiring into luxury, but no way you need 9.5 million to retire.

5. Nah Gen Z are just out of touch with reality.

   They have been brainwashed with social media basically their entire lives.

6. 15% of average salary toward savings and investments over a full career is enough to sustain the average American.

   If that gets a person to maxxing out tax advantaged accounts, that person will be set up nicely.

7. Breaking news: Gen Z identified as the smartest book smarts but most naive and out of touch in street smarts

8. LOL no.

9. I mean… factoring in likely not having Social Security or Medicare, inflation, having some buffer to account for market downturns… 9.5 is a safe number.

   Still not going to be extravagant though.

10. Well them having a livable wage ain’t gonna happen now that most voted for trump. Economy is gonna be fucked the next four years. 

11. Oddly specific number. Not that I’m saying it’s too high/low, just…oddly specific.

12. Maybe so in 40 years

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