Teens think they'll earn 90k/yr by age 30

[Sherlock]

Recent high school grads surveyed, and here are the results:

-On average, they expect to be earning nearly $91,000 annually 10 years from now – that’s roughly three times the average income of 25 to 29 years-olds with post-secondary degrees, according to 2006 Census data from Statistics Canada.
-Nearly three-quarters expect to own a home in the next 10 years. According to estimates from Statistics Canada, only about 42 per cent of 25 to 29-year-olds are homeowners.
- Almost half of those with a student loan say they plan to have it paid off in five years.

http://www.moneyville.ca/blog/post/1...year-by-age-30

Realistic expectations, or are these teens crazy?

[KaeJS]

1&3 are crazy.

2 is not. Its easy to get a home.

[mind_business]

They're unrealistic, but so was I when I was their age. When I got my first job I remember expecting a 20% increase in my first year LOL.

[DanFo]

I did it so why can't they?? Realistic....probably not for most, but I bet they can get close to it if they chose the right career path with a little luck on the side.

[mind_business]

It's easy to get a home, but difficult to own one. I don't consider a home to be 'owned' until the bank has been paid off.

[jcgd]

Many tradespeople can hit those number with hard work. You can get up to around $75k for a regular work week in Canada. When you get into the specialized stuff, like elevator techs, you can make some extraordinary dough for someone without much schooling. $90-130k isn't unheard of.

Just saying, but I agree that it's crazy that so many kids think they will do so well. The number that gets me is that apparently 42% have houses. That is way too many.

[emperor]

#1 100% If they work a trade in Northern Alberta 10 years from now and the oil industry is still going.

#2 and #3 depends on if they become a crack addict that buys a jacked up truck, a pair of million dollar sunglasses and a straight brimmed hat.

[Plugging Along]

I have to admit that I don't see anything wrong with it. These are the expectations (actually higher) that my siblings have instilled in my neices and nephews. I have similiar expectations of my kids (except they aren't even in grade school yet).

I realize that not all, if that many at all will acheive those goals. I don't think it's unreasonable, as all the kids in our family were able to acheive the said above. That was growing up in a lower income immigrant family, with students loans, etc.

I see nothing with aiming high, but also developing strategies and a clear plan to get to those goals. I see people who aim really high, but it's unrealistic as they don't have a plan, or their plan is not reality, I see people who aim too low, and get what they aim for, but not much more. I think with some of these teens, they need a reality check or someone to help them work out a plan.

[crazyjackcsa]

I have more problems with a study that expects straight answers from high school students.

I know if I was filling it out at that age, I'd try to skew the results high or low. Heck, I probably still would.

At the same time, I'm sure you'd get even crazier numbers if you asked grade schoolers. Those crazy kids don't know nuttin'!

[Dmoney]

I think it's great to aspire to succeed, but most of these kids are out of touch with reality. Under 12% of all workers in Canada make over $75,000 according to stats canada, in 2009. Barely 5% make over $100K.

This is all working Canadians, aged 15-65+. People with set careers who have moved up the corporate ladder.

I'm aiming to make 6 figures before I turn 30, and I'm 2/3 of the way there with over 7 years to go. Unfortunately, the rest of my cohort is mostly still unemployed, pouring coffees or putting in the hours and not getting the reward.