How Much Money You Should Have Saved As A 'Nest Egg' By Age 30, According To A Gen Z, Millennial And Boomer Woman

You won't believe how much Gen Z thinks you should save.

baby boomer, millennial and gen z women @401ok / TikTok

There are generational differences in how we perceive money, and it's more evident than you may think.

In an exploration of differing financial perspectives on savings, the TikTok account @401ok recently posted a series of interviews with three women, each from a different generation. A baby boomer, a millennial, and a Gen Z woman all gave us a window into their varying views on their financial goals in saving money, and it demonstrates a big difference between the generations.


They each explain how much you should have saved as a "nest egg" by the age of 30.

In one video, all three of them were posed the same, simple question, but it provoked strikingly diverse responses. "How much should you save by the age of 30?"



RELATED: Waitress Reveals The Difference Between How 'Boomers' And 'Gen Zs' Leave Their Tables After Eating At Restaurants


For the baby boomer, the answer was fairly straightforward. "Ideally, by the age of 30, you should have at least $100,000 in the bank," she said. 

Her response embodies the typical baby boomer's attitude toward prudent savings and financial stability. This generation, having experienced economic growth and stability, strongly emphasizes having a hefty 'nest egg' by this age.

In sharp contrast, the millennial's response reflected her generation's financial struggles. "I think it would be nice to have maybe like $5000 saved," she said. 

millennial woman's answer to how much you should have saved by 30 tiktokPhoto: TikTok via @401ok


Her statement echoed the reality of many millennials who graduated during the economic recession of 2008. The beginning of their financial journey was filled with instability, which undoubtedly affected one's mindset on how much wealth they could accumulate and save.

The Generation Z respondent provided an ambiguous, albeit optimistic, perspective. "Probably like $60,000. Like $250,000," she said.

Further, she added, "I always heard growing up that it should be about like 20% of a payment for a house." Her response illustrates Gen Z's more optimistic view of their financial futures compared to millennials.

Interestingly, the millennial woman brought attention to a key variable often overlooked in discussions about personal finances. She pointed to the significant role location and cost of living play in a person's ability to save. "It's really not a fair question because where do you live?" she asked.


RELATED: Woman Buys Exact Same Walmart Groceries 2 Years Later & They Cost 50% More

The video sparked a flood of comments from viewers, many of whom expressed their struggles with saving. 

Some highlighted the harsh realities faced by many when trying to build up a substantial savings account.

how much to have saved by 30 tiktok commentsPhoto: TikTok via @401ok


"I can't get past 8k something always comes up," one person wrote. 

"I'm 27 and nowhere near 100k. Every time I saved past 5k, an emergency popped up and drained my savings," another added.

There were also some who called attention to the impact of the housing crisis on millennials' financial views. 

"This really shows the financial trauma Millennials have gone through," one person commented. 

"The millennial is still scarred from graduating in 2008 during the housing & financial system collapse," another added.

So, do each of these woman's views really reflect how their corresponding generation handles saving money?

According to Finder's Consumer Confidence Index, Gen Z sets aside an impressive average of $857 per month. In stark contrast, their Millennial counterparts manage to squirrel away a comparatively modest $294 each month. These numbers reflect the Gen Z woman's nest egg goal of $250,000, while the millennial would be happy with just $5,000.


On top of that, a 2022 report from the Transamerica Center for Retirement Studies finds that baby boomers save $673 on average per month. Again, this number makes sense with the baby boomer's view of saving less money than Gen Z.

According to North Bay Business Report, a 2022 survey found that both Milliennials and Gen Zers "don’t see a point in saving until things return to normal" in our post-pandemic world.

“In the last two years, some people had more cash because they weren’t going out, they weren’t going on vacation,” Rita Assaf, Fidelity’s vice president of retirement products, told CNBC Make It. “But especially with the market being choppy and [high] inflation, I think this group is just thinking, ‘Why should I build up a retirement plan right now?’”


In addition to pandemic-related economic setbacks, younger generations are also struggling with student debt, inflation and stagnant wages, making it that much harder to realistically have $100,000 in savings as proposed by the Boomer woman.

RELATED: Boomers Are Going Back To College For Just $10 A Credit Meanwhile Young People Are Straddled With Debt From Outrageous Fees

Ethan Cotler is a writer and frequent contributor to YourTango living in Boston. His writing covers entertainment, news, and human interest stories.