Gen Z are already more bullish than millennials about early retirement—and many think they can quit work for good with just $500,000

Retirement may be a long way away for Gen Z and millennials, but they’re already ambitiously planning the seven-figure sum they’ll need to be able to kick their feet up and retire one day—and an optimistic cluster are hoping that’s much sooner than usual.

That’s because a 2024 YouGov survey revealed that for millennials, the magic number to quit working for good is somewhere between $1 million and $2 million.

Meanwhile, the majority of Gen Zers (37%) estimate they’d be able to comfortably live on around $500,000 to $1 million in their old age, or in some cases, even before even hitting middle age.

14% of the youngest generation of workers aim to retire in their 40s—double the number of millennials who expect to retire between the ages of 40 and 50. 

But with an estimated life expectancy of around 100 years old, frugal Gen Zers will need to make do with their pot sum of half a million for a staggering 60 years.

Most millennials realistically think they’ll retire between 51 and 60 years old.

That’s still shy of the actual age workers in the U.S. generally retire (at Read Entire Article