Friday, December 13, 2019

Survey Millennials say they need a salary of $80k to feel happy

Survey Millennials say they need a salary of $80k to feel happySurvey Millennials say they need a salary of $80k to feel happyNew research from TD Ameritrade shows that according to Millennials, they need an average salary of $80,000 each year to feel happy.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 happyIts clear that respondents have different financial requirements for happiness - heres how they weighed inLess 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%Heres a bit more context in 2016, Millennials said they needed an average yearly income of at least $51,000 to feel happy.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.When Millennials think theyll earn the most moneyAll signs point to middle age20s 8%30s 27%40s 39%50s 15%60s or 70s 4%I dont 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 dont. Among those that do, heres whyI 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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