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Wednesday, May 02, 2007

Teens think six figure salaries are coming

Courtesy of docuticker, a survey of teen financial knowledge shows that, on average, teens expect to earn six-figures ($145,000) when they grow up. I'd call that silly, but my dad likes to tell the story about he hoped to make $7000 a year when he was young. Thanks to inflation, he's far exceeded his goal.

Inflation could help today's teen meet their aspirations, too. With the help of average annual inflation of 3%, a teen would only need to make $51,000 in today's dollars to hit $145,000. Of course, that still exceeds the average American wage by $11,000.

Adulthood might prove a rough awakening.

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