Here’s what each generation said they need to earn annually, as well as the net worth required, to achieve happiness:
A 2023 study coauthored by another Nobel Prize recipient Daniel Kahneman found that happiness can improve with higher earnings of up to $500,000 a year, supporting the millennial survey respondents’ predictions.
“In the simplest terms, this suggests that for most people larger incomes are associated with greater happiness,” Matthew Killingsworth, a senior fellow at Penn’s Wharton School and coauthor of the study, said.
The latest economic data could make Americans’ financial happiness goals more achievable.
The Federal Reserve has also pressed pause on its interest rate hikes given the promising inflation data, and the central bank no longer forecasts a recession as the year comes to a close.
The latest Survey of Consumer Finances from the Federal Reserve, however, had a glimmer of hope for millennials when it comes to net worth.
The original article contains 613 words, the summary contains 152 words. Saved 75%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Here’s what each generation said they need to earn annually, as well as the net worth required, to achieve happiness:
A 2023 study coauthored by another Nobel Prize recipient Daniel Kahneman found that happiness can improve with higher earnings of up to $500,000 a year, supporting the millennial survey respondents’ predictions.
“In the simplest terms, this suggests that for most people larger incomes are associated with greater happiness,” Matthew Killingsworth, a senior fellow at Penn’s Wharton School and coauthor of the study, said.
The latest economic data could make Americans’ financial happiness goals more achievable.
The Federal Reserve has also pressed pause on its interest rate hikes given the promising inflation data, and the central bank no longer forecasts a recession as the year comes to a close.
The latest Survey of Consumer Finances from the Federal Reserve, however, had a glimmer of hope for millennials when it comes to net worth.
The original article contains 613 words, the summary contains 152 words. Saved 75%. I’m a bot and I’m open source!