Landing your dream job on 29. I’ll buy my first home for 30. 35 will earn six figures.
Realistic or not, they are the ages that Americans attribute to some of the financial milestones of life, according to a new study from Empower, a retirement service provider.
Empower asked about 1,000 Americans to set target ages for six life milestones: saving for retirement, landing a dream job, earning six numbers, buying a home, no debt, and resigning.
The findings released in August are filled with regret. Almost half of respondents said they wanted to start saving faster. Almost a quarter said they felt behind reaching the money milestone. Many respondents said there is no set timeline to achieve large financial goals.
And some dates in the timeline are more dreamy than reality. Buy your first home at 30? These days, the average first time buyer has pushed 40.
USA Today has asked several experts to comment on the six milestones of the investigation. This is what they said.
Age to start saving for retirement: 27
If you start saving for retirement at any time in your 20s, your retirement planner says you are doing great things.
“I didn’t start personally until I was 29,” said Andrew Herzog, a certified financial planner in Plano, Texas. “Now, that’s definitely one of my regrets.”
But in a perfect world, 27 may be a little late to start saving for retirement.
“We’re taking away 10 years of savings, especially when we’re in the workforce at 16, 17, and 18,” said Catherine Collinson, CEO of Transamerica Center for Retirement Studies.
The good news is that young Americans are saving early for retirement. Transamerica’s research shows that a typical Gen Z worker began saving at 20. Millennials started with 26, Gen X 30, and Boomer 35.
And why wait until 20?
“We are pleased to announce that we are committed to providing a wide range of financial plans for our customers,” said Katherine Vallega, a certified financial planner in Winchester, Massachusetts.
Age to land your dream job: 29
According to a Labor Department report on Boomer Workers, the average American changes dozens of times between the ages of 18 and 56.
That data point suggests that most of us have not found a dream job by 29.
“We’re committed to providing a great opportunity to help you,” said Randy Brunns, a certified financial planner in Naperville, Illinois.
“If you set a deadline on something very personal, there’s a risk of discouraging people still on the way,” he said. “Imagine telling Colonel Sanders that he should have understood all that by the time he was 29. He didn’t start serving fried chicken until he was 40.”
Age to buy your first home: 30
First-time home buyers are getting older. The average first-time buyer was 38 years old in 2024. This is the highest age ever recorded by the National Association of Realtors.
Since 2020, home prices have skyrocketed dramatically. Mortgage rates are also rising, making homes more affordable for first-time buyers.
“It’s still possible to buy your first home for 30, but now it’s much more difficult than the previous generation,” said Daryl Fairweather, chief economist at Redfin.
Buying a house at age 30 was a realistic goal. According to the Association of Realtors, the average first buyers were 30 in 2010 and 33 in 2020.
But today, many young buyers are taking the price.
“Some people work by getting help from their families, choosing a condominium instead of their home, or choosing to live in an affordable neighborhood with income,” Fairweather said. “So, that’s still possible, but we need a lot of planning and support from friends and family.”
Age to win 6 numbers: 35
Many Americans don’t earn six figures. According to federal data, the average full-time American worker made about $1,200 a week in the second quarter of 2025, or about $62,500 a year.
For some workers, six-figure income is a realistic hope. People with a PhD or professional degree earn more than $100,000 a year on median salary. In addition, income tends to rise with age, reaching its peak around 50 years old.
Still, reaching six-figure salary by the mid-30s makes it “like more ambitious than realistic for most jobs,” says Ronnie Golden, an economist at Penn State’s Abington campus.
Debt-free age: 41
There are different types of debt, and not all are bad.
A financial advisor could raise an eyebrow at a $10,000 credit card balance at a 20% interest rate. But homeowners who grabbed a 3% mortgage in a low-interest year may still be bragging about it to their neighbors.
“Due to its use, the debt may serve a good purpose,” Herzog said. “If you can strategically use your debt, there’s no problem carrying it.”
Financial planners usually encourage consumers to work on reducing “bad” debt, particularly credit card debt.
In contrast, mortgages act as large piggy banks, with stocks rising with each payment.
“Some people prioritize paying off debts across other goals for psychological reasons. That’s fair. It makes me feel bad with a big number hanging in my head.” “But mathematically speaking, prioritizing debt over everything else may not always be the best strategy.”
Resignation age: 58
Resignation plans can change over time. Young Americans generally aim to retire early. The older Americans are scheduled to retire later. According to a 2025 Schwab survey, the average Gen Zer expects to retire at 62, while the average Gen Xer expects to wait until 66.
“The reality is, as people get older, they realize how much they need to save,” said Collinson of Transamerica.
Resignation experts said that with most measures 58 is a bit early to pack it up.
“To retire at age 58, you will need millions of dollars in your securities trading account, or a very low cost of living at retirement,” said Taube of Nerdwallet. “Perhaps both.”
