Latest news with #GenX
Yahoo
5 hours ago
- Business
- Yahoo
Net Worth for Gen X: Are You Poor, Middle Class, Upper Middle Class or Rich?
As a generational cohort, annual incomes among Gen X in the United States are all over the map, especially when compared to the older baby boomers or the younger generations of millennials and Gen Z. The gap between wealthy and poor Gen Xers (those born from 1965 to 1980) throughout American households shows quite the discrepancy in savings account levels, credit card debt and work-life balance. Be Aware: For You: What does set Gen X apart, aside from possibly being the last people to benefit from Social Security, is the gap between how much they want to save and how much they have saved. That gap lays out stark differences in their income levels — let's explore further below. With Gen X next up on the retirement chopping block, many non-retired Gen Xers and financial experts alike believe it will take between $1 and $1.5 million in savings to retire comfortably. This is unfortunate as the average savings for someone of this generation is only $150,000. Gen X, seemingly more so than baby boomers and millennials, has been forced to contend with skyrocketing costs of living, expensive education attainment and even upper-income households living paycheck to paycheck. For those living in a middle-class household with only about 10% of the recommended savings in the bank, this could mean severe delays in retirement planning or a huge downshift in lifestyle expectations. Find Out: It's not that all Gen Xers are struggling to meet their savings goals. The median net worth of Americans between the ages of 45 and 54 is $247,000, according to Federal Reserve data. Those between the ages of 55 and 64 have a median net worth of $364,000. One thing those figures tell you is that a lot of Gen Xers are worth much more than the median and a lot are worth much less. To get an idea of the typical earnings for a Gen Xer, a good place to start is the U.S. Bureau of Labor Statistics data. Here is what the BLS's latest report found: The median weekly earnings for all 119.2 million full-time wage and salary workers in the U.S. were $1,139 in 2024, or $59,228 a year. The median weekly earnings for men ages 45 to 54 were $1,442 a week or $79,984 a year. The median weekly earnings for women ages 45 to 54 were $1,156 a week or $60,112 a year. If you are a Gen Xer and your annual income ranges between about $60,000 and $80,000, you're probably somewhere in the middle-income category of American society. Defining 'upper-middle class' is a little trickier because there is no set measurement everyone agrees on. As USA Today reported, the upper-middle class is often defined as the top 15% to 20% of earners. However, some financial experts say those percentages should be lower. Whether you have lived in middle-income households or consider yourself part of the American upper-middle class, your social class may not get you as far as you think. Here are some income estimates from the Pew Research Center: Lower class: Incomes at or below $30,000 Lower-middle class: Incomes between $30,001 and $58,020 Middle class: Incomes between $58,021 and $94,000 Upper-middle class: Incomes between $94,001 and $153,000 Upper class: Incomes greater than $153,000 Top 1%: Incomes of at least $600,000 Those categories do a good job of giving you a general idea of where Gen X and others fall on the income scale, but they don't capture what it means to be 'poor' or 'rich.' Earning $30,000 a year makes you poor in some areas and lower-middle in others. Similarly, earning $153,000 a year does not really make you 'rich,' no matter where you live. The U.S. federal poverty level for 2025 can also be a good range of where your income will land you in the long term. Here are some estimates: 1-person household: $15,650 2-person household: $21,150 3-person household: $26,650 4-person household: $32,150 Each additional person after eight: Add $5,500 As for being rich, it depends on where you live. As GOBankingRates last reported, the income needed to be in the top 5% of earners ranges from a low of $308,523 a year in Mississippi to a high of $562,886 a year in New Jersey. Again, these figures apply to all generations, including Gen X. The bottom line is that, unlike for previous generations like boomers or even the silent generation, simple ingredients of the American dream such as affordable higher levels of education and real estate, along with retiring at a reasonable age, seem to now be allusive for Gen X. They are the first wave in the attack against the middle class. Each generation has its own relationship with money and it seems to present like the following: Boomers: It's all about the money. Gen X: Is it all about the money? Millennials: Where is the money? Gen Z: What is money? More From GOBankingRates 10 Genius Things Warren Buffett Says To Do With Your Money 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on Net Worth for Gen X: Are You Poor, Middle Class, Upper Middle Class or Rich? Sign in to access your portfolio
West Australian
a day ago
- West Australian
WA Day: Young Aussies pen love letter to west coast as new survey shows Perth is better than OK
If Western Australia were a person, Gen Zers would be writing it love letters. From the white-sand beaches and sunsets over the ocean, to the laid-back lifestyle and small-town vibes, young Australians are smitten — and they want the rest of the country to know it. New research released ahead of WA Day on Monday has providing a glowing endorsement of the golden State's irresistible pull, finding that more than nine in 10 WA residents would convince someone to make the move west. The inaugural Kleenheat All-In On WA survey showed that while 98 per cent of Gen Zers and millennials would convince someone to relocate here, there's no shortage of love for the State among the older generation, with 94 per cent of baby boomers saying they also wouldn't hesitate to encourage loved ones to move. According to the data, almost three-quarters of baby boomer and Gen X residents consider WA beaches among the best in the world, while 90 per cent of millennials and Gen Zers agree that WA offers easy access to some of the best hiking and camping spots in the country. Ninety-one per cent of us also agree that natural landmarks including Rottnest Island, Ningaloo Reef and the Bungle Bungles make WA one of the most scenic States in Australia. 'For me, I could not fathom living anywhere else in the world,' City Beach business owner Sophie Langer told The West Australian. 'I tell my family and my friends pretty much every day how lucky I think we are to live in WA — dead set, I'm not exaggerating.' The born-and-raised Perth local said she regularly travelled to other Australian States but that none came close. 'For me it is the beaches. We've got the beast beaches in the country, one thousand per cent,' Ms Langer, the owner of City Beach coffee window Fred's, said. 'Then there's the people. I don't think the people in cities like Melbourne and Sydney are as friendly. Everyone's just wanting to go from A to B, whereas here it just feels a bit more community-vibes and everyone's willing to be friends with everyone and says hi to everyone.' The 24-year-old spends most afternoons sitting on the sand at City Beach, her favourite place on earth, watching the water. 'I love Perth so much, I never want to leave,' she said, describing the small-town charm with the perks that come with living in a major city as 'really special'. 'It is very untouched. It feels like it's our own sort of sacred place.' Speaking to the Iona Presentation College graduate would be enough to convince even the most hesitant to move west — she radiated love for WA, every word she used to talk about her beloved home State sounding less like a description and more like a love song. 'Margaret River, Yallingup, Dunsborough, the Kimberley, Broome, honestly the whole State is incredible. We are so fortunate,' she said. Her close friend Brianna Goldsworthy couldn't have agreed with the glowing review more, adding that her own love for the State centered around the healthy, active lifestyle so many West Aussies lived by. 'You can be up before 7am and by that time most people have already done their exercise, have gone for their walk, have had their coffee. Everyone sort of shares those values here,' the 24-year-old from Wembley Downs said. 'Then there's the amazing sunsets over the ocean . . . the beautiful walks, and of course the really great coffee.' Ms Goldsworthy, who is studying a masters in dietetics, also joked about how small WA felt despite it being the biggest State in the country. 'You definitely can account to bump into at least one person. It's rare if you don't see someone you know when you're out and about,' she said, laughing. 'And you can hop in your car and drive a few hours and then you're in a completely different environment, camping, wineries, beaches, forest walks.' Fifty per cent of residents like Ms Goldsworthy and Ms Langer have never even considered leaving WA, with the majority crediting the weather and climate as their biggest reason for staying. Ninety-five per cent of millennials also said WA was a great place to raise children, and more than 80 per cent of all WA residents surveyed agreed the State offered strong career opportunities, with it also being the top reason people have moved west. One of those individuals is New Zealand man Daniel Gray, who moved to Perth just over a year ago and is now in the process of trying to convince his Melbourne-based girlfriend to make the move. 'She loves the beach and lives about two hours away from one at the moment, so that's the biggest thing I say when trying to get her out her,' he said on Friday. The 24-year-old plumber moved to WA for the work opportunities and spends his time off-site surfing and camping. 'I love the lifestyle here, and everything's a bit more affordable, a bit more laid back,' Mr Gray said. 'It's really good — anyone thinking about moving here should just do it.' Kleenheat's head of natural gas and electricity Rick Newnham said the report not only showed how much WA had to offer people of every generation, 'but has highlighted an underlying sense of pride in things that are unique to our State'. Committee of Perth chief executive Paula Rogers said her heart 'bursts with pride when I heard about the recently released survey WA is better than OK which highlights our younger residents are leading the love for Perth and WA'. 'When I saw the results, I thought 'yes, yes, yes, finally some positive celebration of what we have here in Perth'.' The survey results were released in the lead-up to WA Day celebrations on Monday, when residents and visitors are expected to descend on Fremantle to show their love for the State. The Port City's free community event will showcase dragon dancers, unicorn stilt walkers and Latin music among the multicultural melting pot of entertainment that will transform Fremantle Fishing Boat Harbour and Bathers Beach into a long-weekend holiday hot spot. While Premier Roger Cook lauded WA's beautiful beaches and sense of community, State opposition leader Basil Zempilas praised the unique WA lifestyle. He will be spending most of his time over the long weekend at the WA Netball Championships at the Matthews' Netball Centre. 'My oldest daughter Ava is playing, and I'll be watching her compete while also spending time on the scorer's bench,' he said. 'There is something very West Australian about combining family and sport while enjoying the WA Day long weekend.'
Perth Now
a day ago
- Perth Now
Why most Gen Z-ers think you should move to WA
If Western Australia were a person, Gen Zers would be writing it love letters. From the white-sand beaches and sunsets over the ocean, to the laid-back lifestyle and small-town vibes, young Australians are smitten — and they want the rest of the country to know it. New research released ahead of WA Day on Monday has providing a glowing endorsement of the golden State's irresistible pull, finding that more than nine in 10 WA residents would convince someone to make the move west. The inaugural Kleenheat All-In On WA survey showed that while 98 per cent of Gen Zers and millennials would convince someone to relocate here, there's no shortage of love for the State among the older generation, with 94 per cent of baby boomers saying they also wouldn't hesitate to encourage loved ones to move. According to the data, almost three-quarters of baby boomer and Gen X residents consider WA beaches among the best in the world, while 90 per cent of millennials and Gen Zers agree that WA offers easy access to some of the best hiking and camping spots in the country. Ninety-one per cent of us also agree that natural landmarks including Rottnest Island, Ningaloo Reef and the Bungle Bungles make WA one of the most scenic States in Australia. 'For me, I could not fathom living anywhere else in the world,' City Beach business owner Sophie Langer told The West Australian. 'I tell my family and my friends pretty much every day how lucky I think we are to live in WA — dead set, I'm not exaggerating.' The born-and-raised Perth local said she regularly travelled to other Australian States but that none came close. 'For me it is the beaches. We've got the beast beaches in the country, one thousand per cent,' Ms Langer, the owner of City Beach coffee window Fred's, said. 'Then there's the people. I don't think the people in cities like Melbourne and Sydney are as friendly. Everyone's just wanting to go from A to B, whereas here it just feels a bit more community-vibes and everyone's willing to be friends with everyone and says hi to everyone.' The 24-year-old spends most afternoons sitting on the sand at City Beach, her favourite place on earth, watching the water. 'I love Perth so much, I never want to leave,' she said, describing the small-town charm with the perks that come with living in a major city as 'really special'. 'It is very untouched. It feels like it's our own sort of sacred place.' Speaking to the Iona Presentation College graduate would be enough to convince even the most hesitant to move west — she radiated love for WA, every word she used to talk about her beloved home State sounding less like a description and more like a love song. 'Margaret River, Yallingup, Dunsborough, the Kimberley, Broome, honestly the whole State is incredible. We are so fortunate,' she said. WA residents Brianna Goldsworthy 24 and Sophie Langer 24 at Scarborough Beach. Credit: Jackson Flindell / The West Aust Her close friend Brianna Goldsworthy couldn't have agreed with the glowing review more, adding that her own love for the State centered around the healthy, active lifestyle so many West Aussies lived by. 'You can be up before 7am and by that time most people have already done their exercise, have gone for their walk, have had their coffee. Everyone sort of shares those values here,' the 24-year-old from Wembley Downs said. 'Then there's the amazing sunsets over the ocean . . . the beautiful walks, and of course the really great coffee.' Ms Goldsworthy, who is studying a masters in dietetics, also joked about how small WA felt despite it being the biggest State in the country. 'You definitely can account to bump into at least one person. It's rare if you don't see someone you know when you're out and about,' she said, laughing. 'And you can hop in your car and drive a few hours and then you're in a completely different environment, camping, wineries, beaches, forest walks.' Fifty per cent of residents like Ms Goldsworthy and Ms Langer have never even considered leaving WA, with the majority crediting the weather and climate as their biggest reason for staying. Ninety-five per cent of millennials also said WA was a great place to raise children, and more than 80 per cent of all WA residents surveyed agreed the State offered strong career opportunities, with it also being the top reason people have moved west. Daniel Gray, 24. Credit: Jackson Flindell / The West Australian One of those individuals is New Zealand man Daniel Gray, who moved to Perth just over a year ago and is now in the process of trying to convince his Melbourne-based girlfriend to make the move. 'She loves the beach and lives about two hours away from one at the moment, so that's the biggest thing I say when trying to get her out her,' he said on Friday. The 24-year-old plumber moved to WA for the work opportunities and spends his time off-site surfing and camping. 'I love the lifestyle here, and everything's a bit more affordable, a bit more laid back,' Mr Gray said. 'It's really good — anyone thinking about moving here should just do it.' Kleenheat's head of natural gas and electricity Rick Newnham said the report not only showed how much WA had to offer people of every generation, 'but has highlighted an underlying sense of pride in things that are unique to our State'. Committee of Perth chief executive Paula Rogers said her heart 'bursts with pride when I heard about the recently released survey WA is better than OK which highlights our younger residents are leading the love for Perth and WA'. 'When I saw the results, I thought 'yes, yes, yes, finally some positive celebration of what we have here in Perth'.' The survey results were released in the lead-up to WA Day celebrations on Monday, when residents and visitors are expected to descend on Fremantle to show their love for the State. The Port City's free community event will showcase dragon dancers, unicorn stilt walkers and Latin music among the multicultural melting pot of entertainment that will transform Fremantle Fishing Boat Harbour and Bathers Beach into a long-weekend holiday hot spot. While Premier Roger Cook lauded WA's beautiful beaches and sense of community, State opposition leader Basil Zempilas praised the unique WA lifestyle. He will be spending most of his time over the long weekend at the WA Netball Championships at the Matthews' Netball Centre. 'My oldest daughter Ava is playing, and I'll be watching her compete while also spending time on the scorer's bench,' he said. 'There is something very West Australian about combining family and sport while enjoying the WA Day long weekend.'
News18
a day ago
- Health
- News18
83 Percent Of Indian Consumers Read Nutrition Labels Before Buying Snacks: Study
Last Updated: More than 60 per cent of people, especially in Delhi and Ahmedabad, consider choosing foods that have high nutritional content, reveals a study. A recent global study commissioned by Wonderful Pistachios, in collaboration with the research consultancy Material, has found that 83 per cent of Indian consumers read nutrition labels before buying snacks. The study observed that Millennials and Gen X are inclining towards conscious eating. More than 60 percent of people, especially in Delhi and Ahmedabad, consider choosing foods that have high nutritional content, reveals a study. The study, which surveyed 2,415 consumers across six cities, is a part of a global survey covering over 12,400 respondents across 10 countries. It also discovered that 58 per cent of urban Indian consumers choose snacks based on nutrition rather than taste, which is higher than the global average of 52 per cent. The research also showed a rising preference for healthy, protein-rich, and plant-based diets. According to the study, 86 per cent of people are looking for foods high in protein, and 69 per cent of them think plant-based proteins are just as effective as those from meat, which is far higher than the global average of 55 per cent. The study further revealed that one of the primary factors influencing these decisions is the desire for natural, heart-healthy snacks that provide energy and protein instead of just satisfying cravings. Particularly, nuts have been increasingly popular, as 86 per cent of Indians have bought them in the last six months, as compared to 79 per cent globally. He further said, 'This shift underscores the role foods like California pistachios can play in supporting healthier lifestyles through simple, wholesome snacking options." First Published: May 30, 2025, 16:42 IST
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Business Standard
a day ago
- Business
- Business Standard
Resale homes slide to 2% buyer interest as 67% choose under-construction
A majority 72% of homebuyers earning between ₹10 lakh and ₹50 lakh per year now prefer under-construction properties, signaling renewed confidence in developers and flexible payment plans, as per a recent study conducted by Knight Frank India, a real estate consultancy firm. Even among those earning less than ₹10 lakh, under-construction homes remain popular at 62%, though a growing 19% are opting for ready-to-move-in units to sidestep delivery risks and gain immediate possession. Across all income levels, resale homes are the least favored—proving that for today's buyers, new is not just better, it's smarter. The preference is particularly strong in emerging metros like Pune (81%), Ahmedabad (79%), Hyderabad (78%), and Bengaluru (71%), where a wave of new project launches is meeting rising urban demand. Even among the country's traditionally risk-averse segments—such as Gen X and Baby Boomers—under-construction homes remain the top choice. Ready-to-move-in homes are the second most popular, attracting 17% of buyers who value immediate possession and the added perk of avoiding GST on completed units. Demand for these properties is higher in MMR (33%) and Kolkata (24%), where execution risk and inventory dynamics make immediate delivery more attractive. Pre-launch properties, often linked with speculative buying, captured 14% of buyer interest, with NCR leading the trend. Here, a surprising 39% of buyers are comfortable with early-stage investments, reflecting confidence in the region's aggressive development pipeline. Resale market takes a hit The resale market, however, has hit a significant low—with just 2% of respondents considering it a viable option. Buyers cited concerns over maintenance issues, outdated amenities, and limited financing options as key deterrents. Meanwhile, younger buyers like Gen Z (73%) and Millennials (68%) are more open to waiting for delivery in exchange for customization and future upside. In contrast, buyers earning below ₹10 lakh show a more balanced outlook, with 19% choosing ready-to-move-in homes to avoid delays and gain stability. The study, which interviewed 1,629 buyers from India's top eight cities, highlights demand driven especially by millennials (82%) and high-income earners with annual incomes above Rs 5 million (91%). The report, titled Beyond Bricks: The Pulse of Home Buying, revealed the strongest ownership intent in Chennai (86%), Ahmedabad (83%), and the Mumbai Metropolitan Region (85%), where growing disposable incomes and urban expansion fuel purchase ambitions. Kolkata (80%) and Hyderabad (81%) also show high preference for owning homes, primarily driven by a desire for long-term stability. In contrast, Delhi-NCR (74%) and Bengaluru (73%) report relatively lower ownership sentiment, largely due to high property prices and a sizeable young, migrant workforce favoring rentals. Ownership sentiment includes both current owners (46% overall) and renters planning to buy soon (34%). High earners and millennials dominate the homebuying intent, whereas Gen Z (71%) and lower-income groups earning under INR 1 million (72%) show more cautious optimism, reflecting affordability challenges and lifestyle flexibility needs. A significant 37% of buyers are motivated by the desire to upgrade their current living situation, while 32% are first-time buyers looking for end-use homes. Apartments remain the most preferred residential choice across all demographics, though wealthier buyers show greater interest in independent houses and villas for added privacy and space. Investment driven purchases highest in Bengaluru and Mumbai Investment-driven purchases are more prominent in Bengaluru (40%) and Mumbai Metropolitan Region (34%), while end-use buying dominates Chennai (51%), Ahmedabad (48%), and Delhi-NCR (42%). The latter cities also see greater enthusiasm for under-construction and pre-launch projects, which offer modern amenities and pricing flexibility. Key Purchase Influencers: Location Leads as the Top Factor, Followed Closely by Affordability and Property Size Healthcare leads as priority when selecting a home When selecting a home, Indian buyers place high importance on proximity to healthcare facilities (58%), shopping outlets (53%), and access to public transport (40%). Surprisingly, amenities like fitness centers and community clubs rank lower, likely because modern projects increasingly include these features as standard.
