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Americans on average say they need to earn more than $186,000 a year to live comfortably, according to a recent Bankrate survey<\/a>, down 20% from a year ago.<\/p>\n Different demographic groups had different income thresholds, but they all declined\u2014except for one. Gen Z respondents said they need to make $200,000 a year to feel comfortable or financially secure, up 3.6% from Bankrate\u2019s 2023 survey<\/a>.<\/p>\n Meanwhile, every other age group lowered their income thresholds. And when looking across different gender and racial\/ethnic groups as well as Americans with kids or without, income thresholds also fell (with Gen Z and the other age cohorts included in those groups too). <\/p>\n Gen Z was also an outlier on what it would take to feel rich. On average, Americans said they need to earn $520,000 a year to reach that status, up 7.7% from a year earlier. <\/p>\n Income thresholds for most demographic groups saw comparable single-digit percentage increases, while Gen X\u2019s saw a slight dip. But Gen Z\u2019s was up a whopping 20.7% to $461,000.<\/p>\n The changes in what Americans think they need to earn to come as they also report feeling more financial insecurity. In fact, while the level of income for living comfortably dropped, it\u2019s still more than double the average full-time income of $79,000.<\/p>\n The latest Bankrate survey said 25% say they are completely financially secure, down from 28% in 2023, while 75% were not completely financially secure, up from 72% in 2023.<\/p>\n \u201cMany Americans are stuck somewhere between continued sticker shock from elevated prices, a lack of income gains and a feeling that their hopes and dreams are out of touch with their financial capabilities,\u201d said Mark Hamrick, Bankrate\u2019s senior economic analyst, in the report.<\/p>\n The share of Gen Z respondents who felt financially secure saw a dip to 24% from 25%. But they were the most optimistic of the different age groups, with 64% saying they are not completely secure now but will be someday. That compares with 53% for millennials, 48% for Gen X<\/a>, and 26% for baby boomers.<\/p>\n That\u2019s despite the rising cost of living, heavy debt burdens, and the historically unaffordable U.S. housing market<\/a> that now requires a six-figure income<\/a> to afford a median-priced home. <\/p>\n Meanwhile, separate surveys have found that Gen Z and millennials are increasingly suffering from \u201cmoney dysmorphia<\/a>\u201d that has skewed how they view themselves financially.<\/p>\n According to an\u00a0Intuit Credit Karma survey<\/a> in January, 45% of Gen Zers and millennials are obsessed with the idea of being rich, with 48% of Gen Zers and 59% of millennials feeling behind financially.\u00a0\u00a0<\/p>\n \u201cMoney dysmorphia is kind of like today\u2019s version of keeping up with the Joneses,\u201d Courtney Alev, a consumer financial advocate at Credit Karma, wrote in the report. \u201cA lot of people are examining their finances and comparing themselves to their peers, people on social media, and even celebrities, which is bringing up feelings of inadequacy.\u201d\u00a0<\/p>\n<\/div>\n\nSubscribe to the Fortune Next to Lead newsletter to get weekly strategies on how to make it to the corner office. Sign up for free<\/a>.<\/div>\n