BUSINESS MATTERS
52% of Americans Say
There is A Secret to Success, According to New Study
Article by Rebecca Rickert, head of communications at Empower
Network Effect; and luck and circumstance (51%). The secret is to be a visionary (36%) - and then outwork everyone (32%), a belief held most firmly by those with incomes over $100k, rising to 40%. Pay yourself first, say over one third of people (35%), by putting money away and saving for retirement. For 1 in 5 younger generations (Gen Zers and Millennials 19%) a secret to success is "fake it 'til you make it."
"Fortune favors the bold, and people feel success is within their grasp with the right combination of dreaming and planning," says Rebecca Rickert, head of communications at Empower. "It's about disciplined, smart money choices, but overall people define financial success as very meritocratic, and a little serendipitous. There's a sense that effort
(BPT) - Is there a secret to financial success? Most Americans (52%) say "yes" - and the average salary considered successful is $270,000 per year, and $5.3 million in net worth, according to new research from Empower, a financial services leader in investing, planning, and advice.
But it's not just money - it's what money can buy. Only 27% rank wealth as the highest measure of financial success. Rather, most Americans say happiness (59%) is the most important benchmark - being able to spend money on the things and experiences that bring the most joy, doing what you love, followed by the luxury of free time (35%) to pursue personal passions.
People say success is about the "Factor of Four": hard work (84%); talent (65%); who you know 55% or The