Money can buy happiness. This is what six out of 10 Americans said in a new survey, saying that they need to achieve a certain level of wealth in order to be joyful in life.
Some people across the world consider money as the root of all evil. However, for others who can't afford what they want and need, money is certainly something that can bring they happiness.
Now, Empower, an American financial services provider, conducted a new survey to see how much money Americans need in order to be happy. Here's what the poll revealed.
Money Can Buy Happiness: 6 in 10 Americans Believe So
According to CBS News' latest report, Empower's survey revealed that Americans have a certain amount of money in their mind that they think can bring them happiness.
As of writing, the median household income in the United States is around $74,000 per year. However, surveyees said that they need to earn at least $294,000 annually to achieve happiness.
"When it comes to salary, Americans say they need $284,167 per year to be happy," said Empower via its official website.
The Colorado-based financial company added that men's estimates are higher compared to women's; males want to have a $381,000 annual income while women said they only need $183,000.
When it comes to generations, here's the annual salary Americans believe can bring them a joyful life:
- Millennials: $525,000
- Gen X: $130,000
- Gen Z: $128,000
- Boomers: $124,000
Meanwhile, Americans also shared how much money they want to be in their bank just to be happy:
- Gen Z: $487,711
- Gen X: $1,213,759
- Boomers: $999,945
- Millennials: $1,699,571
- Men: $1,488,327
- Women: $880,950
- Average: $1,187,938
Other Financial-Related Things That Can Bring Happiness
Aside from achieving a certain level of wealth and an annual salary, Americans also shared other financial-related things that can make them happy.
These include not financially relying on anyone (87%). Meanwhile, 87% of surveyees also said that they would be happy if their current money could allow them to withstand unexpected financial needs.
Around 84% of participating Americans said that they will be joyful if they can take care of their loved ones financially.
All these details clearly show that money is not the main thing that makes many Americans happy. Instead, it's the things they can do for their family, loved ones, and themselves that put a smile on their faces.
