Gen Zers in a survey said they need $200,000 a year to feel financially secure — more than any other generation

Americans under the age of 35 generally make around $60,000. Gen Zers in a survey said more than double that would make them feel secure.

• Americans, in a Bankrate survey, said that they need nearly $200,000 annually to feel financially secure.
• Gen Zers, who already tend to feel financially vulnerable, said they need the most to feel secure.
• Gen Z is also coming up against rising costs other generations didn't contend with.

Americans think they need a whole lot more money than they're making to feel comfortable, according to a new survey.

The latest survey from Bankrate, which polled 2,407 US adults from May 16 to 20, looks at how much Americans think they need to make to feel financially secure. And, on the whole, workers said they'll need nearly $200,000 annually — on average, $186,000 — just to feel comfortable.

But some generations said they'll need more than others to feel secure. Gen Z is particularly worried.

According to the survey, Gen Z respondents said a $200,000 annual salary would ensure their financial security. Millennials said they'd need $199,000, and for Gen Xers and baby boomers, their financial security targets were at $183,000 and $171,000, respectively.

The survey comes after 44% of Gen Zers said in a previous Business Insider survey they're feeling financially vulnerable;, and are the most stressed about saving money. According to the Survey of Consumer Finances, the median net worth of Americans under the age of 35 is $39,040, and their median income is $60,530.

While it's difficult to pinpoint an exact dollar amount that would ensure financial security for any generation, the latest responses are a sign of the continued impact of inflation and other economic stressors continuing to hit Americans particularly hard. The Consumer Price Index rose 3.3% year over year in May — a slight decrease from April's 3.4% reading — but despite the cooling, recent surveys have shown the economy and inflation are top concerns for Americans.

"We define 'financial security' as synonymous with 'living comfortably' — a subjective term for most Americans, no doubt, but in our research/talking with Americans individually, they all seem to arrive at similar definitions," Bankrate analyst Sarah Foster told BI. "Overwhelmingly, they say it's the financial state of not having to worry about money. Comfort is when one can cover their expenses/needs and occasional wants, while also saving for the future."

That seems to ring true for Gen Z, specifically. The Washington Post recently reported that the generation is doing worse than millennials regarding high housing costs and rising debt loads. According to the Post's analysis of data from the Bureau of Labor Statistics, Gen Zers are paying 31% more on housing, adjusted for inflation, than what people were paying a decade ago at the same age.

Additionally, according to a May TransUnion report viewed by BI, nearly 10% more Gen Zers are 60 or more days past due on their auto and credit card loans compared to millennials a decade ago.

"Gen Z consumers have seen their finances significantly impacted by the pandemic and its aftermath, even more so than the challenges faced by Millennials as a result of the Global Financial Crisis," Michele Raneri, vice president and head of US research and consulting at TransUnion, said in a statement alongside the May report.

To be sure, it's not all bad for Gen Z. TransUnion's latest Consumer Pulse Study found that Gen Z is "the most stable of any generation" in this year's second quarter, with 45% of them reporting wage increases over the past three months. They're also outpacing other generations with regard to retirement savings and homeownership, but even so, inflation remains at the back of their — and every other generation's — minds.

"Even if prices are up 5% and wages are up 5%, I feel really good about the 5% that I'm making, but it feels like someone just took that away from me in the form of inflation," Charlie Wise, senior vice president and head of global research and consulting at TransUnion, previously told BI. "And that's got people not just concerned but, in many cases, pretty upset."

Are you a Gen Zer worried about financial security? Contact these reporters at asheffey@businessinsider.com and jkaplan@businessinsider.com.