Breakdown of the dream income of $525,000

In a 2023 study, millennials said they needed to make $525,000 a 12 months to be completely satisfied. But $525,000 is well outside the median income of any generation, in any state. The actual percentage of the U.S. population making greater than $500,000 a 12 months is lower than 1%. There are definitely millennials who’ve reached this financial milestone, but blindly pursuing such a lofty goal, especially one which is realistically unattainable for many, could quickly seem daunting. A greater approach could be to think about your personal financial situation and run the numbers to find out how much you actually need to earn to succeed in your personal financial goals.