Gen Z has big goals for financial success, believing it takes a salary nearly nine* times the national average, according to new Empower research.

But there’s more to the success story.

Just 27% rank wealth as the highest benchmark for prosperity. Rather, most Americans say happiness (59%) is the most important measure — being able to spend money on the things and experiences that bring the most joy.

— The Editors 

🐢 Slow and steady wins (big): Footwear brands like Hoka, On, Ugg, and Birkenstock are proving that “slow and steady” isn’t just a saying. With a distribution strategy aimed at building demand (Birkenstock only ships 75%* of the stock retailers request), these brands are reaching luxury-level profit margins as high as 60%. This rivals high-end giants like LVMH (68.8%).* Empower Personal Dashboard^TM data shows that Americans spent an average of $723 on clothing/shoes in November.

🏙️ Blueprint for success: Historic corner shops in urban areas* like Seattle and Chicago are getting a glow-up, transforming into cozy homes. It's all part of a trend toward walkable, livable neighborhoods. With Empower’s latest study showing 52% of Americans believe owning a home is a key to financial freedom, these flips show a fresh way to live the dream.

📞 Granny’s got game: Meet Daisy,* the AI-powered grandma who is protecting consumers against phone fraudsters by keeping them on the line for endless chats about her cat and knitting, preventing them from calling more people. The talkative chatbot was created by British mobile phone company O2. Phone scams in the U.S. resulted in over $25 billion* in losses last year. Daisy shows that success sometimes means playing defense. AI has also helped the U.S. Treasury Department sift through data and recover $1 billion* of fraud in fiscal 2024.

💰 Holiday hustle pays off: Retailers like Walmart* and Gap* are raising their earnings forecasts as shoppers hit the stores. An estimated 197 million people shopped online or in stores from Thanksgiving to Cyber Monday this year, 14 million* more than projected. Online sales during this period were $41.1 billion, up 8.2% from 2023. Empower data shows that 37% of Americans spend more than intended on gifts during the holidays.

Money on the move

The stock market is wrapping up a successful 2024 with impressive gains. The S&P 500^® is up over 25%* year-to-date, fueled by strong corporate earnings and steady consumer confidence. Cryptocurrency is also garnering attention, with Bitcoin topping $100,000* in December, the first time it has reached six figures.

Empower data shows that 44% of Americans planned to invest in stocks in 2024, while 25% were investing in index funds/exchange-traded funds (ETFs), 18% were investing in cryptocurrency, and 17% were including bonds in their portfolio.

Hiring heats up

Employers are ramping up hiring across industries. Since early 2024, recruiter job postings are up 76%* in electronics manufacturing, and 45% in pharmaceuticals, hospitality, and tourism. This is often a sign that broader hiring is on the horizon. Another indicator is that in November, 227,000* jobs were added in the U.S., bouncing back from October with only 36,000 job gains. One way to find a new job is through networking, as Empower research shows that 55% of Americans credit strong networks as the key to financial success. 

Demure and in demand

Dictionary.com’s Word of the Year, demure,* proves that staying cool and composed never goes out of style. Since a creator’s viral “very demure, very mindful” video — watched over 54 million* times — there’s been a 1,200% spike in online usage of the word. And with monetization* already in play, it shows even quiet confidence can be a power move, with the highest paid influencers on social media making over $245,000* per video. 

Wickedly successful

The film adaptation of “Wicked” isn’t just defying gravity, it’s defying box office sales expectations. Bringing in over $360 million* globally, it’s already the highest-grossing Broadway musical adaption ever. (Sorry, “Grease.”) And it’s not the only blockbuster grabbing headlines. Disney’s “Moana 2” and “Gladiator II” are gearing up to take 2024 by storm, with a record $425 million* combined box office for Thanksgiving weekend for all three movies.

Empower Personal Dashboard^TM data shows that Americans spent an average of $301 on entertainment in November.