Currency (2024)

FAQs

How to answer "Do you have money?"? ›

2 Answers. I do have is emphatic. (Like saying I really have money.) The short answer in most cases is just Yes, I do.

The study found that a person needs an average of $96,500 for sustainable comfort in a major U.S. city. It's even more expensive for families, who need to make an average combined income of about $235,000 to support two adults and two children without the pressure of living paycheck to paycheck.

Generally, $100,000 per year is a good goal for most people.

It's enough to live comfortably, take vacations, and not stress out about paying the bills.

The amount of R2 lakh per month should be enough for a comfortable middle-class life in a city in India. But then, our life does not stop at needs. There are wants and desires. You need more than R2 lakh a month for those looking for more comfort.

money, a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed; as currency, it circulates anonymously from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth.

The terms money and currency are often thought to mean the same thing. However, while related, they have different meanings. Money is a broader term that refers to an intangible system of value that makes the exchange of goods and services possible, now and in the future. Currency is simply one, tangible form of money.

This means the value of money today is not the same as it will be in the future. To account for this, experts suggest you multiply your desired retirement income by 25 times. So if you want to retire on $20,000 a year, you would need $500,000 saved to live comfortably and never have to work again.

According to IRS standards, a monthly income of approximately $45,000 qualifies someone as wealthy. However, if you're aiming for the top 1% as measured by the Economic Policy Institute (EPI), you'd need to earn about $68,277 monthly.

On average, Americans believe they should save up around $1.46 million before retiring, per Northwestern Mutual's 2024 Planning and Progress study.

Studies have shown that the impact of our annual income on our overall happiness isn't exponential for everyone. In fact, it plateaus around $100,000 for most people, which means a lower return on your happiness for every dollar you make beyond that point.

How much salary to be happy? ›

Just how much money do we need to earn to be happy nowadays? The answer is a bit more than the often cited $75,000 per year. In a 2023 paper published by the Proceedings of the National Academy of Sciences (PNAS) journal, key findings suggest that earnings up to $500,000 boost and buy overall happiness.

While you might need $10 million to fund your ideal life in perpetuity, saving that amount of money is not a realistic goal for the vast majority of us. If you had a take-home pay of $100,000 per year and invested half of that at 8% per year, it would still take you 36 years to save $10 million.

DON'T EXPLAIN OR MAKE EXCUSES. When you say no, don't offer explanations or excuses. Doing so only opens the door to a discussion and prompts your friend or family member to try to overcome your objections. Say, “I'm sorry, but I can't give you a loan.” When the person asks, “Why not?” just repeat your statement.

Whether you are an expert in a certain field or just someone who likes to share knowledge, you can now make money by answering questions online. Getting paid to answer questions is a great way to fill your pockets while helping others find answers to their queries. It is an easy job that can be done from your computer.