To most people, $100,000 is a lot of money.
But to many Millennials, it’s the minimum annual salary required to fund a happy life.
According to a recent “Millennials and Work” survey conducted by TD Ameritrade, 41 percent of Millennials say they need to earn $75,000 USD ($97,000 CDN) or more a year to be happy. What’s truly shocking is that this is a $30,000 increase compared to Millennials’ happiness threshold in 2016. What the hell happened? Did the price of avocados really jump that much?
Around a quarter of Millennials said that somewhere between $50,000 and $74,999 a year would make them happy, while 22 per cent believe they can achieve contentment earning just $25,000 a year.
There are plenty of variables, of course. Older Millennials – those over 30 – and those with kids say they need around $130,000 CDN to be happy. It should also be noted that the survey was conducted in the Unites States, where Millennials are twice as poor as Canadians of the same age bracket.
Considering it costs like a million dollars a day to live in our major cities, however, it wouldn’t come as a surprise if Canadian Millennials put an equally lofty price on happiness.
One major omission from the survey is how Millennials choose to spend their money. Someone spending their $25k a year on personally fulfilling endeavours is probably plenty happier than someone who commits their six-figure income to bottle service and a Benz.
On the bright side, at least we’re getting a hella good life for our money.