In mid-November, financial services company Empower released the results of a survey conducted by The Harris Poll in August that asked 2,034 Americans aged 18 and over if they think there is a price ot happiness. The average respondent said they think they need a $284,167 annual salary to be happy, and for millennials, that amount was much higher at $525,000.

Meanwhile, Gen Z said it would take a $128,000 salary for them to be happy, Gen X said they would be happy with $130,000, and boomers estimated the amount at $124,000.

While each person might have a different idea of the true price of happiness, there’s no argument that it’s a difficult time for many Americans — and millennials in particular — in the current economy.

Starting off with inflation: the US has made strides in its pandemic recovery, and the Federal Reserve is confident the country is moving in the right direction toward meeting the central bank’s 2% inflation target. Most recently, the Consumer Price Index, which measures inflation, increased 3.2% year-over-year in October, a decrease from the 3.7% reading a month prior.

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