If money doesn't grow on trees, then how come dollar bills are made of paper? Think about it! 🧐💵
If you had a real life money tree, how much would you want from it? 🌳 According to a new report, many Americans say money really *can* buy happiness. The price tag? A net worth of $1.2 million.
Here’s Five Fast Facts on what kind of money makes Americans happy:
- 💰 Because I'm Happy - According to a financial happiness report, 60% of Americans believe money can buy happiness and that achieving a specific net worth makes it happen.
- 🤑 Fat Stacks - The cost of just about everything is up, credit card debt is at a record high, and over half of Americans are living paycheck to paycheck. Taking all of that into consideration, Americans say they'd need to earn $284,167 per year to be happy.
- 🤸 New Money Club - The younger generations say they'd need even more. Millennials reported needing over $500,000 a year to keep the smiles coming. Both Gen Z and Millennials were also more likely to say money can buy happiness over older generations.
- 🩺 What's Up, Doc? - For all generations, retirement is often a huge roadblock when it comes to financing the future. Even those in "rich" professions, like doctors and lawyers, are reporting feeling less than financially comfortable these days, even when they have decent retirement savings.
- 🚀 Gimme Gimme More - Although most people in the report said $1.2 million would make them happy, wealthier individuals went a bougie step further. Over half of high net worth individuals said they'd need over $3 million. A third would be happy with $5 million. Wouldn't we all?
🔥Bottom line: At the risk of getting all Hallmark card sappy, it's important to remember that there's more to life than money. Yes, we all need (and deserve) enough to feel financially stable, but we don't need to keep up with the Joneses. Speaking of, have you finished your Christmas shopping? If not, check out this guide for tips on what to spend.
How much money would make YOU happy?
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