Thursday, November 14, 2019
Survey Millennials say they need a salary of $80k to feel happy
Survey Millennials say they need a salary of $80k 'to feel happy' Survey Millennials say they need a salary of $80k 'to feel happy' New research from TD Ameritrade shows that according to Millennials, they need an average salary of $80,000 each year “to feel happy.â€But there are large disparities between what different groups want. Those younger than 30 said that this number was an average of $53,500, while those 30 and up said that it was an average of $101,500. But while the minimum average yearly income that men said they needed “to feel happy†was $118,000, this number was $58,500 for women.Head Solutions Group polled 1,519 Americans between the ages of 21 and 37 for TD Ameritrade.The least amount of money Millennials need annually “to feel happyâ€It’s clear that respondents have different financial requirements for happiness - here’s how they weighed in: “Less than $25,000 per year:†22% “$25,000 to $49,999 per year:†14% “$50,000 to $74,999 per year:†22% “$75,000 to $99,999 per year:†12% “$100,000 to $149,999 per year:†13% “$150,000 or more:†16% Here’s a bit more context: in 2016, Millennials said they needed an average yearly income of at least $51,000 “to feel happy.â€TD Ameritrade also noted this in the report: “averages exclude top and bottom 5% (i.e. exclude outliers) and have been rounded to the nearest $500.â€When Millennials think they’ll earn the most moneyAll signs point to middle age: 20s: 8% 30s: 27% 40s: 39% 50s: 15% 60s or 70s: 4% “I don’t know:†7% How many Millennials earn money on the side - and whyWhile 46% of employed Millennials say that they work a “side hustle,†54% say that they don’t. Among those that do, here’s why: “I need/want the additional income my side hustle provides:†43% “My side hustle is my passion/it is what I like to do:†31% “I use my side hustle to get experience in an area of work I want to do in the future:†22% “None of the above:†4%
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