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Why it's no surprise that Gen Z thinks it needs $500,000 a year to succeed

The article from MSN discusses a recent survey by Bankrate which found that Generation Z believes they need an annual income of $500,000 to feel financially successful. This figure starkly contrasts with the perceptions of older generations, who believe a much lower income is sufficient for success. The article explores several reasons behind Gen Z's high expectations: the rising cost of living, significant student loan debts, and the influence of social media showcasing lavish lifestyles. Additionally, economic factors like inflation and the gig economy's instability contribute to their financial aspirations. The piece also touches on how Gen Z's entry into the workforce during economic downturns and their exposure to financial education might shape these expectations, suggesting that while their goals might seem unrealistic to others, they reflect the economic realities and pressures faced by this generation.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/why-it-s-no-surprise-that-gen-z-thinks-it-needs-500-000-a-year-to-succeed/ar-AA1w5exV ]