- cross-posted to:
- personalfinance@lemmy.ml
- submitted@lemmygrad.ml
Source: https://www.empower.com/the-currency/money/research-financial-happiness
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Pretty close but it's actually this https://www.empower.com/the-currency/money/research-financial-happiness
Which I'm sure is extremely reliable and thorough
here's what they say, anyhow:
Show
okay so some dork between the ages of 30 and 40 or so responded to an online survey asking how much they need to be happy and said a billion dollars or something like that
If the paragraph is true, then no. The 95% CI with +/- 2.9% means the data isn't heavily skewed by a few outliers.
+/- 2.9 percentage points not percent. which means it applies to the "72% of millenials say" part, that they're 95% confident that the true proportion of millenials that say so is between 69% and 75%. it does not mean that they're 95% confident that the true average salary needed for millenials to be happy is $526k +/- $16k.
Ah, I think you're right. I read that very poorly, boo.
Sorry team, thanks for the correction.
- Not in housing market, hasn't had to contemplate buying a house
- Knows exactly how much buying a house will cost and is currently paying high rent
- Is near paying off a house they bought much cheaper
- Has long since paid off a house or two
I buy my avocados for my avocado toast directly from Mexican cartels just to give boomers an extra dose of the fear.
Millennials know the secret. Whenever anyone asks you "how much," you think of a number and triple it. If your answer doesn't make the other person literally gag, then you aren't asking for enough.
Its literally the only answer that makes sense. "How much would I have to make per year to be happy? How about a million dollars, fuck you"
The first word that comes to mind when people think about financial happiness is freedom, followed by security and relief,
... isn’t just about reaching a far-out net worth – it’s achieved by addressing money milestones like being able to pay bills on time (67%), living debt free (65%), affording everyday luxuries without worry (54%), and owning a home (45%)...
73% of Americans saying they’re experiencing financial stress
Most Americans believe that money can buy happiness, but it amounts to more than net worth: 71% of Americans believe that “having more money would solve most of my problems” and 59% of Americans say money can buy happiness – though just 17% say financial happiness is reaching a certain net worth. Most associate happiness with on-time bill payment (67%) and a debt-free status (65%). For 44% of Americans, including 58% of Gen Z and 55% of Millennials and Gen X, financial happiness means having a good work/life balance.
A majority say contentment is not having to rely on anyone else financially (87%), being able to withstand unexpected financial needs (87%), and the ability to financially take care of loved ones (84%).
It seems like "happiness" as defined by this article is: not being stressed out by financial issues, being able to absorb unexpected financial emergencies, and having some pocket money to occasionally spend on things that aren't really necessary but its just nice to be able to indulge in occasionally.
It seems like "happiness" as defined by this article is: not being stressed out by financial issues, being able to absorb unexpected financial emergencies, and having some pocket money to occasionally spend on things that aren't really necessary but its just nice to be able to indulge in occasionally.
Yeah that's happiness to me, I'd kill to live a life like this.
Millenial levels are so elevated because they need to buy all those avocados for avocado toast
124k/yr when a boomer was my age is like double what the Millennial is asking for. Gen Z is only asking for enough money to service their student loan and pay rent.
Wow all of these numbers are so high, are people actually getting paid this much??
- Gen Z is split between naive and climate doomers who know they won't need a retirement.
- Millennials are copium artists so they included arable land and solar panels to their estimates
- Gen X has accepted that they're going to work until they die
- Boomers got to expend while time costs like inflation were hitting the not-yet-conceived; $124k at that age is the equivalent to $526k or more for the common millennial
Millennials probably just live in the city
you really can't be materially comfortable living in a US city unless you make a few hundred thousand
half of zoomers are under 18 so their opinion on money doesn't count
"Yes."
