A CNN Money survey found the “magic number” that would make Americans happy financially is less than $100,000.
And it turns out many Americans don’t think they need a CEO paycheck to be happy, or even six figures.
When asked how much would do the trick, just over half of people surveyed in CNNMoney’s American Dream poll said it would take less than $100,000.
Nearly a quarter of the people who took the poll, conducted by ORC International, said between $50,000 and $74,999 would work.
On the high end of the scale, 23% said they’d need between $100,000 and $199,999.
Certified financial planner Mari Adam of Boca Raton, Fla., works with a couple – a welder and a nurse – whose joint income is less than $75,000. But, Adam said, “They’re very happy with what they have. And the irony is they have more saved than some people who make two or three times more than they do.”
Where you live will also play a role in your ability to make the most of what you earn, since cost of living and taxes can vary greatly. That’s why a $100,000 paycheck in New York City won’t go nearly as far as the same salary in Austin, Texas.
*Also see http://www.cnn.com/.element/widget/video/videoapi/html/1.2.9/iframeclient.html?debug=false&frameId=cnnvideo_10ec9faa&type=iframe_client§ion=affiliates&cvpContext=van&cvpProfile=van&width=100%25&height=100%25&adsection=cnn.com_vanaffiliates_watermanbroadcasting_wbbh&autostart=false&network=cnn&video=business%2F2014%2F06%2F05%2Fnr-kosik-price-of-americans-happiness.cnn&profile=van&context=wbbh&thumb=http%3A%2F%2Fi2.cdn.turner.com%2Fcnn%2Fdam%2Fassets%2F140408171549-hand-of-money-tablet-large.jpg&apiVersion=1.2.9#
Learn more here http://finance.yahoo.com/news/much-earn-happy-080600545.html
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