People need $100,000 salary to stop money worries

An old saying goes, "Money can't buy happiness". A new  report from the USA suggests this may be true. The financial planning experts Edelman Financial Engines conducted a survey on people's attitudes towards money. 

They found that nearly six in ten people needed to earn at least $100,000 a year to stop worrying about money. Around 50 per cent of the people in the survey said they would need an annual salary of $200,000 to feel happy and safe. The researchers also found that only 12 per cent of Americans think they are wealthy. Surprisingly, the researchers reported that just 33 per cent of millionaires in the study said they felt financially secure.

The Edelman report is called "Everyday Wealth in America". Researchers asked more than 3,000 adults over the age of 30 about their money worries. Half of those in the survey were "rich". They had wealth between $500,000 and $3 million. Isabel Barrow, director of financial planning, said: "What we are noticing is that many Americans, even those who are affluent, aren't feeling very confident about their financial situation." She added: "When I was getting out of college, it was a dream to say you could make $100,000". However, the report said that such a salary today simply means a stable lifestyle. It said $100,000 was no longer a sign of financial success and wealth.

Source : BreakingNewsEnglish

Comprehension

What did the survey from Edelman Financial Engines explore?
According to the survey, what annual salary do nearly six in ten people need to stop worrying about money?
How many people in the survey said they needed $200,000 a year to feel happy and secure?
What percentage of Americans think they are wealthy, according to the report?
What surprising fact did the survey reveal about millionaires?
How many adults participated in the survey, and what was their age group?
What did Isabel Barrow say about how people's attitudes toward earning $100,000 have changed?
What does the report say about the current meaning of earning $100,000?

Discussion

Do you agree with the idea that money can’t buy happiness? Why or why not?
Why do you think even millionaires can feel financially insecure?
How has the value of earning $100,000 changed over time, according to the report?
What role do you think financial planning plays in people feeling secure or insecure about money?
Do you think it is possible for people to feel happy and secure with less money? Why or why not?
In your opinion, what is more important for happiness: financial security or personal well-being?
Why might people with wealth between $500,000 and $3 million still feel unsure about their financial situation?
How does this report challenge traditional ideas of financial success?
What other factors, besides money, do you think contribute to feeling happy and safe?
How do you think societal expectations influence people’s views on what constitutes financial success?

Vocabulary

Affluent – Having a great deal of wealth.
Wealthy – Rich; having lots of money or valuable possessions.
Financially secure – Feeling confident that you have enough money for your needs.
Confident – Feeling certain and assured.
Stable – Not likely to change; steady.
Annual salary – The amount of money a person earns in a year.
Afford – Have enough money to pay for something.
Financial planning – The process of managing money and investments to meet life goals.
Affluence – The state of having a lot of money or material wealth.
Financial success – Having enough money to live comfortably and achieve personal goals.