💼 What Does Financial Success Look Like Across Generations? 📊

The income threshold needed for self-defined financial success differs greatly across U.S. generations.

What drives these differences? Factors like rising housing costs, inflation, and varying financial priorities across life stages surely play a role.

In addition, as our standard of living improves, items that didn't exist or were considered optional by previous generations are seen as basic necessities by more recent generations.

And, while not in the data, I wonder how much one's financial expectations are driven simply by age: the younger one is, the more of their life is uncertain and the fewer data points one has to estimate what is needed to "make it". It makes sense to me that the generation with the least experience with real-world costs and how they fluctuate over time (with higher inflation) might have the highest requirements.

🔑 Key takeaway: While generational needs differ, understanding these financial thresholds is essential for individuals and policymakers striving to bridge generational wealth gaps.

💡 What do you think drives these differences?

For a detailed breakdown, explore the full article on Visual Capitalist: https://lnkd.in/gTExZ_2Y

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