Forget that old cliche that money can’t buy happiness, new research suggests that many Americans disagree and it turns out, they even know the amount of money they’d need to be happy. So what is this magic number? According to a survey from Cardrates.com, more than half (56%) of Americans say they’d be content having a liquid net worth of $200-thousand.
The financial advice site polled 786 employed U.S. adults about the salary they’d need to earn and how much they’d need in the bank to reach financial happiness and found:
- While $200-thousand is the sweet spot for a lot of folks, many would be happy with less and it varies depending on their current income.
- Two-thirds (66%) of those earning $40-thousand would be happy to have a $100-thousand salary, but only 39% of people who earn $150-thousand feel the same.
- Women tend to be slightly more content with lower worth levels than men, 33% of women would be content with a liquid net worth of $100-thousand, compared to 28% of men. While 57% of women would be content with a $200-thousand liquid net worth, compared to 53% of men.
- Millennials are more likely to prefer a higher salary, while Gen Z values having a higher net worth. Three-quarters of millennial respondents would be content making a $150-thousand salary, compared to 71% of Gen Z, while 84% of Gen Zers say they’d be content with a $1-million liquid net worth, compared to 81% of millennials.
- The $200-thousand price tag on happiness is a huge jump from 2010, when the number linked to American happiness was a $75-thousand salary.
Source: USA Today