Millennials want a lot more than everyone else
Published in · 4 min read · Nov 26, 2023
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There’s been a somewhat ridiculous article going around saying that millennials think they need to make over $500K annually to feel happy. Granted, the question itself is pretty subjective: everyone has a different definition of what it means to feel happy — the more materialistic your definition of happiness, the more it will cost to get there.
Still $500K is a ridiculously high amount. And this is not even household income, which implies 2 earners — this is a single person’s pre-tax salary. Less than 1% of people make that much or more.
Versus their peers, millennials seem to have an unrealistic relationship with money, here are what different generations say they need to feel happy and secure (the article’s results are based on a survey conducted by Empower, a 401k provider):
- Gen Z: $128,084
- Millennial: $525,947
- Gen X: $130,344
- Boomer: $124,165
- Everyone: $284,167
Millennials’ salary desires stick out like a sore thumb relative to everyone else’s. But before we jump to the conclusion that millennials are out of touch, we should think about why they want so much money. To me, this…
