Here's how much money Americans would need to make to be happy |
Americans say it would take a lot of money — upward of $230,000 a year — to feel secure, and even more — $483,000 — to feel rich, according to a recent Bankrate survey. But new data shows they could find happiness earning far less. A salary of $94,696, on average, would make Americans happy, according to a survey from Moneyzine.com. In states where the cost of living is higher, survey respondents said they'd need to earn more to feel content. Residents of 17 notoriously pricey states said they'd need more than $100,000. Here are the top five states where residents say they'd need to earn the most, along with the median annual salary in that state. 1. New York Average salary needed to be happy: $288,543 Median annual salary: $52,478 2. Hawaii Average salary needed to be happy: $200,978 Median annual salary: $48,568 3. Maryland Average salary needed to be happy: $145,833 Median annual salary: $51,418 4. New Jersey Average salary needed to be happy: $139,286 Median annual salary: $51,085 5. Massachusetts Average salary needed to be happy: $139,167 Median annual salary: $58,448 |
Money Tip of the Week: Avoid these 3 common financial mistakes Financial planners don't expect their clients to be perfect at managing money. If they were, they wouldn't seek help from an expert. But certain behaviors are red flags, the pros say, or signals that someone is prone to making major financial mistakes. Here are three poor financial tendencies advisors say are common and worth watching out for. 1. Don't live beyond your means. If you're spending more than you're pulling in, either because you're not on top of your budget or because you're trying to keep up with appearances, you're likely racking up credit card debt and hurting yourself financially, experts say. 2. Don't get too emotional about money. "A lot of individuals carry a lot of guilt that they don't manage [their finances] perfectly themselves," Annette VanderLinde, chief client officer at Liberty Wealth Advisors, tells CNBC Make It. "Sometimes that negative emotion can be a hurdle to just moving forward seeking out help." 3. Don't avoid your financial reality. Technology has made money management easier, but it can also allow you to ignore what's going on, say, by letting digital credit card bills and bank statements go unread. Financial pros recommend doing a routine inventory to keep track of your accounts and make sure you still have access. |
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Next Gen Investing: ChatGPT can match the top 1% of creative human thinkers, says new study |
Sure, artificial intelligence chatbot ChatGPT, can crunch data faster than any human ever could, but it can't match people creatively, right? Welp, new evidence is emerging that maybe it can. When put to the test against real people, the viral chatbot scored in the top percentile for original creative thinking, according to a new study by the University of Montana. Researchers administered the Torrance Tests of Creative Thinking, an oft-used creativity test, to the ChatGPT engine. At the same time, they collected responses from 24 University of Montana students. Those scores were compared with 2,700 students nationally who took the TTCT. The TTCT asks test-takers to provide written responses to pictures or verbal prompts. For example, they might be shown a product and asked about ways to improve it. All responses were scored by the Scholastic Testing Service, which wasn't aware that AI answers were submitted. The AI responses were as creative as the responses from the most creative real people who took the test, according to researchers. ChatGPT even outperformed a majority of students nationally. "We had all been exploring with ChatGPT, and we noticed it had been doing some interesting things that we didn't expect," Erik Guzik, study author and a professor at Montana's College of Business, told ScienceDaily.com. "That's when we decided to put it to the test to see how creative it really is." Guzik doesn't expect AI to replace human ingenuity. Instead, he hopes it will help drive innovation among the next generation of business leaders. "One of the definitions of entrepreneurship I love is that to be an entrepreneur is to think differently. So, AI may help us apply the world of creative thinking to business and the process of innovation, and that's just fascinating to me." |
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Worth the Money: $80 slip-on shoes |
I'm always looking for shoes I can walk forever in, and that proposition gets even trickier during the sweaty, squelchy NYC summers. Additional requirements: They can't be boring or old lady-ish, and they can't cost a zillion dollars. Bonus points if I can wear them to work. A few weeks ago, I discovered UIN Footwear and spent $80 on these colorful slip-ons. Now that I've taken tens of thousands of steps in them, I can report that they're cute, lightweight and a pleasure to wear. They don't scuff easily, and they don't cause blisters. Totally worth the money! I might even buy another pair. — Ester Bloom, Deputy Managing Editor |
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