Charles Schwab’s annual survey of 1,000 Americans aged 21 to 75 asking how much money it takes to feel rich is showing the impact of the pandemic, down from $2.4 million for the past three years now to a cool $2 million. Money just doesn’t have the value it used to.
What does it take to feel happy? More than money if you’re a Boomer or Millennial. People from those generations are rating a good relationship as having a higher value than respondents in the past. Gen X wants cash. Gen X and Millennials don’t rate careers as high and Boomers have lost interest, and Millennials are the only to put a higher premium on health. What Boomers put the highest premium on is lifestyle.
How much does it take to feel comfortable? That has dropped also, from $934,000 in January to $655,000 now.
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