What Is Your Minnesota Salary Sweet Spot?
WHAT IS YOUR DREAM SALARY?
Don't we all have dreams of not having financial problems? A spouse loses a job, and all of a sudden, things become impossibly unmanagable. Maybe you think you're getting a promotion when really, it's a financial step down?
They say money isn't the key to happiness, and that the more you have the more troubles and stress come along with it; but obviously there has to be a 'sweet' spot. The amount that is just right..where you can pay for the things you need; put a little money back for retirement; maybe save for a family trip each year. What does that amount look like?
MORE MONEY MORE STRESS?
According to the new study by LINKED IN, the higher the salary; the higher the stress. 68% of people making over $200,000 a year have high stress compared to people making less than $100,000. But there has to be a minimum? The amount that affords you a place to live, food to eat, and the basics that keep you from stressing out.
I've heard in recent years that $70,000 is the perfect amount right now to make in our economy; It's enough to figure out what is important to you, versus just being able to buy anything and everything.
THE SALARY SWEET SPOT
The study found that the actual sweet spot was between $50,000 to $75,000. The people who are in this range have the lowest stress and the highest job satisfaction. Maybe you'll never get that big promotion. But if you love what you do, and you are in the sweet spot...enjoy the life you have. Be cautious with your spending, and happiness should ensue.