Home » Business » 6 out of 10 Americans believe that “money can buy happiness.” Gen Z hopes to be wealthy, 17 million baht is good.

6 out of 10 Americans believe that “money can buy happiness.” Gen Z hopes to be wealthy, 17 million baht is good.

A survey from Empower found that 6 out of 10 Americans think money can buy happiness. Gen Z hopes to have 17 million baht in wealth and life will be better. But Millennials want to have 60 million baht in wealth so they can increase their own happiness.

Of course, having enough money in the bank reduces stress and increases overall happiness. The latest survey results from Empower financial service company It shows that High income is associated with increased levels of life satisfaction, and6 in 10 Americans also tend to agree that “Money buys happinesscan”

But when asked how much money do you need to make yourself happy? American people say Must have an average wealth of approximately 1.2 million dollars or approximately 42 million baht.

However, Millennials say that They need about $1.7 million in wealth to be happy, while Gen X needs $1.2 million. Boomers need less than $1 million to be happy.

Gen Z is different. By Empower it was found that Young people view an average wealth of $487,000 as enough to be financially happy.

  • The price of happiness for Millennials

Empower found that 72% of Millennials agree that money can buy more happiness than any other generation, and this generation is also the group with the highest annual salary. And they need 4 times more money than other generations to be happy.

The average amount of salary that each generation needs to create happiness and reduce stress.

Millennials want $525,947 (18 million baht)

Gen X wants $130,344 (4.6 million baht)

Gen Z wants $128,084 (4.5 million baht)

Baby boom needs $124,165 (4.4 million baht)

Respondents also said that An average annual income of $95,000 means less stress. But respondents currently have an average annual salary of $65,000 (2.3 million baht), meaning they would need to increase their salary by nearly 50% to meet the demand.

However, Empower found that You don’t have to spend a lot of money to improve people’s quality of life. Because just a lump sum of $25,000 makes 42% of Americans happier for 6 months. Meanwhile, $15,000 makes 32% of Americans happier. And 17% of Americans only need a $5,000 bonus to be happy.

  • The face of financial happiness

Even Americans say that one must have a high salary or have exceptionally valuable assets to be happy. But those things don’t actually make most Americans happy. But Empower found that That all expenses are paid on time and in full Makes 67% of Americans happy

Meanwhile, 65% of Americans view being debt-free as the greatest way to be financially happy, followed by 54% who agree that enjoying small, everyday luxuries makes them happy. financially, but only 17% say having a certain level of net worth is financially happy.

However, in general, 75% of Americans rate their overall happiness at 7 or higher out of 10, but money remains the biggest contributor to Americans’ happiness.

What makes Americans happiest (% of respondents)

1.Staying at home 80%

2. There is a relationship 72%

3.Workplace 68%

4.Financial goals 63%

5.Financial plan 62%

6. Financial independence 61%

7. Have a financial partner (consultant, etc.) 58%

8. Property ownership 58%

refer: CNBC

2023-11-26 08:00:00
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