January 22, 2025
The following is my personal commentary on a recent GV Wire article about Americans’ perceptions of financial success, published on January 19, 2025. If you’d like to read the full article, you can access it here.
In a recent BOK Financial study featured in GV Wire, I shared my perspective on what it means to “make it” financially in today’s America.
The study revealed that only 31% of Americans feel they’ve financially “made it,” with over half believing it’s harder to achieve financial success today than in their parents’ generation.
As I noted in the article, “The concept of ‘financially making it’ has evolved significantly over the years.
What once may have been defined by a stable job, owning a home, or raising a family now encompasses a wider range of milestones, from financial independence to personal fulfillment.”
Beyond Wealth Accumulation
This evolution reflects our changing society and highlights how personal values increasingly outweigh traditional benchmarks of success.
I’ve found that distinguishing between “making it” and merely accumulating assets is crucial—they’re not the same thing.
While the Schwab survey indicated Americans set the wealth threshold at $2 million, true financial success extends far beyond simple net worth figures.
Focusing on What Matters
In my practice at RGA Investment Advisors, I encourage clients to focus on what they can control: “Savings rates, spending habits, and long-term investment strategies.”
While staying informed about economic conditions matters, obsessively reacting to daily news often leads to poor, short-sighted decisions.
Personal Definitions of Success
Perhaps most importantly, I believe that “while useful to some extent, the concept of ‘making it’ can sometimes add undue pressure, as it’s inherently subjective and varies from person to person.”
Rather than chasing societal ideals of success, I encourage defining personal financial goals that align with your unique values and vision of a fulfilling life.
This excerpt reflects my contribution to an article originally published by GV Wire. For the complete story and additional insights from other financial experts, please visit the GV Wire website here.