https://themessenger.com/news/millennials-say-over-500k-would-buy-happiness-report?utm_source=onsite&utm_medium=latest_newsEach generation has a different idea of the cost of happiness. For millennials, more than $500,000 annually would be the key.
In a survey conducted by The Harris Poll, 2,034 Americans ages 18 and older were asked about the secrets to financial happiness. Financial services company Empower released the results Monday, which determined
the average person believes having $1.2 million is needed to attain financial happiness.The average person would need a salary of about $284,164 every year to be happy, according to the survey, but the results did vary by generation.
Boomers said they needed the least amount of money, asking for an annual salary of $124,000 and a net worth of $999,945. They were followed by Gen Z, who sought a $128,000 salary and a net worth of $487,711.
Gen X respondents said they wanted a $130,000 salary and a net worth of $1,213,759, per the survey. Millennials said they needed the most, asking for $525,000 annually and a net worth of $1,699,571.
Women reported needing less than half of what men said they would need, asking for an annual salary of $183,000 compared to $381,000 for men.
Some researchers say millennials are not wrong. Nobel Prize recipient Daniel Kahneman co-authored a 2023 study that found that earning up to $500,000 a year can improve a person's happiness.
Comments
About 6%, if this site is correct: https://dqydj.com/household-income-percentile-calculator/
"The Wall Street Journal recently shared research on how much money people need to make to be happy:
In the survey, most people said it would take a pretty significant pay bump to deliver contentment. The respondents, who had a median salary of $65,000 a year, said a median of $95,000 would make them happy and less stressed. The highest earners, with a median income of $250,000, gave a median response of $350,000.
RE: Chart
It’s tragic because it shows contentment is basically impossible to find. Regardless of how much you make, you’ll always want more. The goalposts just keep moving."
Many people find it difficult to avoid the hedonic treadmill.