Thursday, November 21, 2019

This generation (by far) cares the most about getting rich

This generation (by far) cares the most about getting richThis generation (by far) cares the most about getting richWhat is rich anyway?If you have to ask Senior Living surveyed over 1,000 people about wealth. According to respondents, being rich, on average, means an annual salary of $309,000 and a net worth of $2.3 million.So how much would we like to make if it cant be $309,000?Were a nation of strivers. Only 4.2% of respondents are OK with their current financial situation. A third would like to be rich, and 62% would be satisfied just having mora money. (Among men and women, 70% of women would like to have more money, versus 55% of men). More men than women would like to be rich.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreAmongst all respondents, almost half (49%) were actively working with the intent to be wealthy. Out of that, the biggest share was Millennials, at 57%. This makes sen se past data has shown that about half of Millennials think that theyll be millionaires at some point in their lives. Other studies have highlighted the importance they place on being rich.Only one in four Baby Boomers say rich is their goal, followed by 41% of Gen Xers.Of course, being rich isnt just your stockpile of money (81%). Its assets, stocks, and bonds (71%). Its inherited wealth. Its freedom from worry about what things cost (63%). Its being able to buy what you want (61%) and travel where you want (56%). (While most people take one vacation a year, respondents said that if they were rich, theyd take four.)And for a lucky 37%, its not having to work.Respondents said if they had real money, theyd also help their family out, and to a lesser extent, their friendsWhile money can buy your lesser-well-off family members some relief, respondents also felt that it could buy good health (51%). Half felt it could buy happiness.A wise 85% believed that there are other ways to be ric h that dont come in monetary form.

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