In 2010, Gallup published a study asking Americans what amount of income would make them happy. The answer was $75,000 (USD).
In a new study released this summer, Americans were asked what amount of money would make them feel content, as measured by their liquid net worth. 56% of Americans responded $200,000.
This amount would give them enough of a safety net, peace of mind, and presumably extra funds to pursue their interests and passions.
Millennial respondents said that they would be more content with a higher salary job, whereas Gen Z respondents preferred having a higher liquid net worth. The average salary in the United States at the end of 2023 was $59,384.
So what's our takeaway here?
As families grapple with the higher cost of living, it's getting harder and harder to maintain a financial cushion, and yet having that cushion helps alleviate stress, anxiety, and contributes to our overall happiness.
To maintain that cushion, we may need to change our spending habits. It's more than about dollars and cents. It's about happiness and common sense.
What's your happiness number? Leave a comment.
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