Daughter is thinking about what classes to take in college, what majors to consider, when to declare. She asked a question of me last night, that I thought I would pass on to you all for input.
“Dad, how much money do I have to make?”
The context is, she wants to choose a direction based on happiness, not on money, but she realizes some money is needed. How much?
We talked about the role of money in allowing you to pursue your interests, to live in comforty, to reduce the stresses of want and need, to protect you from destitution later in life. But I didn’t really have an answer. My friends and relatives have household incomes ranging from about 1.5X the poverty line (see
http://aspe.hhs.gov/poverty/14poverty.cfm ) to multi-millions. We talked about some of them and their lives, and the more we talked, the less I knew.
What would you tell your kid? I’m not asking for an annual dollar figure, but something broader.