Does happiness have a price? For a majority of Americans, the answer is yes — but it doesn’t come cheap.

About 6 in 10 of Americans believe money can buy happiness, according to a new poll from financial services firm Empower. Yet to achieve happiness through financial means, most people say they’d need a significant raise, as well as a big chunk of money in the bank.

Median household income in the U.S. stands at about $74,000 annually, but respondents told Empower that they’d need to earn roughly $284,000 each year to achieve happiness.

And as for wealth, Americans said they’d need even more in the bank to feel content: $1.2 million, to be exact, the poll found. Many people are wealthier than they were a few years ago, thanks to the rise in real estate and stock market values, yet the median net worth of U.S. households stood at $192,900 in 2022, according to the Federal Reserve.

  • LemmyIsFantastic@lemmy.world
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    11 months ago

    Seems about right. I hope to retire with 2.5M in the bank. It’ll give a pretty significant income unless I live into my late 90s.

    • themeatbridge@lemm.ee
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      11 months ago

      I’m hoping to send my kids to college in the next 15 years, so I don’t ever expect to retire.