How Do You Know When You’ve Financially “Made It”?

It’s a question we’ve all asked ourselves at some point: how do you know when you’ve truly “made it” financially?

Is it when you’re debt-free, when you own a home, or maybe when you can afford to splurge on that dream vacation? Turns out, the answer is more complicated—and generational differences play a big role.

The Numbers on Financial Success

Less than 30% of adults believe they’ve hit the milestone of financial success, according to a recent study. However, optimism is still alive and well:

• Over 50% of people feel they’re on their way to making it.
• Millennials are the most confident, with 30% saying they’ve already “made it.”
• Baby boomers are less optimistic—only 27% feel they’ve reached financial success, and of those who haven’t, only a third believe they ever will.

But what does “making it” actually mean in dollars? The study found the average net worth considered necessary to achieve financial success is about $234,000.

Related: This Is How Much Money You Will Need To Retire!

Why Is It Harder to “Make It” Today?

Compared to previous generations, hitting financial milestones today feels tougher. Half of the respondents agreed it’s harder to achieve financial success now than when their parents were young. Some key barriers include:

• High cost of living (42%)
• Inflation (26%)
• Personal spending habits (7%)

And while the concept of financial success has evolved, the goals tied to it have shifted, too.

Old Milestones vs. New Goals

For past generations, “making it” often meant getting married (34%) or having children (40%). Today, people place more emphasis on milestones like:

• Owning a home (78%)
• Owning a vehicle (64%)
• Having a stable career (48%)
• Earning a college degree (30%)

It’s clear the priorities have changed, reflecting how the cost of living and cultural values have evolved over the years.

Generations and Their Spending Habits

Where you are in life also affects how you spend your money. According to the survey:

• Gen Z (27%) and millennials (31%) spend the most on family.
• Gen X (43%) and baby boomers (50%) prioritize retirement.
• Interestingly, Gen Z had the highest percentage (20%) of respondents who said they’re focused on using their money to buy things that bring them happiness.

Planning for retirement also starts later for younger generations, with Gen Z expecting to begin at around 41 years old and millennials at 46.

So, Have You “Made It”?

Financial success looks different for everyone. Whether it’s being able to afford a home, building a retirement fund, or simply buying things that make you happy, the path to “making it” is personal.

At the end of the day, financial success isn’t just about meeting a dollar figure or societal milestone—it’s about feeling secure and satisfied with where you are.