Does happiness have a price? For a majority of Americans, the answer is yes — but it doesn’t come cheap.
About 6 in 10 of Americans believe money can buy happiness, according to a new poll from financial services firm Empower. Yet to achieve happiness through financial means, most people say they’d need a significant raise, as well as a big chunk of money in the bank.
Median household income in the U.S. stands at about $74,000 annually, but respondents told Empower that they’d need to earn roughly $284,000 each year to achieve happiness.
And as for wealth, Americans said they’d need even more in the bank to feel content: $1.2 million, to be exact, the poll found. Many people are wealthier than they were a few years ago, thanks to the rise in real estate and stock market values, yet the median net worth of U.S. households stood at $192,900 in 2022, according to the Federal Reserve.
If you can make a good wage for several years before you apply, SSDI will go up and won’t be such a low average. Unfortunately, I was disabled after only a few years in the workforce and the most I made, even with a degree, was $15/hr. I wasn’t making enough for long enough to get more than the $914 (the SSI limit). That’s the best advice I can give. If you get SSDI, you’re also allowed to get married without losing benefits. Those on SSI, if married, the income the spouse makes is considered your income and is taken out of your SSI.