A recent survey of 2,000 employed Americans reveals that only 31% believe they have achieved financial success, with millennials leading at 34%—the highest among all generations. In contrast, just 27% of baby boomers feel they have “made it” financially, and among those who haven’t, only a third are optimistic about ever reaching that milestone.

External factors significantly impact these perceptions. Respondents cite presidential elections (46%), interest rate fluctuations (45%), and the job market (42%) as influential elements affecting their financial goals. Additionally, 79% acknowledge that their definition of financial success has evolved over time, with the average net worth considered sufficient to “make it” being approximately $234,000. 

Achieving this benchmark is challenging due to modern obstacles such as the high cost of living (42%) and inflation (26%). Notably, nearly half of baby boomers (48%) and Gen X respondents (47%) identify the elevated cost of living as a significant barrier, whereas younger generations like Gen Z (28%) and millennials (30%) are more concerned about inflation.

Read the full report here: https://studyfinds.org/financially-made-it/