A recent poll has shed light on the stark differences in financial expectations and contentment between millennials and baby boomers.
According to the survey, millennials feel they need a whopping $525,000 a year to achieve a state of happiness, while their older counterparts, the baby boomers, are content with a much lower annual income of $124,000.
The findings raise questions about how generational factors influence perceptions of financial well-being and happiness.
The poll, conducted by a prominent research firm, delved into the financial aspirations and contentment levels of over 10,000 respondents from various age groups across the United States.
Millennials, who have grown up in an era marked by economic volatility and soaring living costs, appear to have higher financial expectations.
This generation’s desire for a substantial income may be attributed to factors such as student loan debt, the high cost of homeownership, and the pressure to achieve financial stability in a rapidly changing job market.
In contrast, baby boomers, who came of age during a different economic landscape, seem to have a more modest outlook when it comes to money and happiness.
Their lower financial threshold for contentment may be linked to a sense of financial security that was more attainable during their working years.
