Here's how much money millennials say they need to make to be happy

Here's how much money millennials say they need to make to be happy

As millennials get older, their financial ambitions mature too. TD Ameritrade's recent "Millennials and Work" survey found that the average amount millennials (defined, in this case, as those aged 21 to 37) say they need to earn be happy has risen $30,000 since 2016, jumping from $50,000 a year to $80,000.

Nearly a quarter of millennials (22 percent) say earning between $50,000 and $74,999 a year is what it will take to make them happy, while 41 percent say they'll need $75,000 or more. That's significantly more than young people actually take home: Those between the ages of 25 and 34 earn a median salary of just $41,288 per year, according to the BLS , and SmartAsset estimates that those 19 to 37 years old earn an average of $35,592.

Still, there's a strong contingent of millennials — 22 percent — who say they can earn $25,000 or less per year and keep their spirits up.

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Older millennials tend to say they need a larger amount to be content: Those 30 and up report needing an average salary of $101,500, while respondents under 30 average only about half that, or $53,500.

As millennials age, they're earning more and starting families, and their aspirations are keeping pace, Chris Bohlsen, a director in investor services at TD Ameritrade, tells CNBC Make It . And as they get a better idea of what they have the potential to earn, they're able to set higher expectations about what it will take to make themselves, and their families, happy.

Having kids matters as well: Nearly 40 percent of respondents with children say that they need over $100,000. "There is a need to provide a higher quality of life for your children," Bohlsen says. "When you have to take care of somebody else, you give yourself something bigger to shoot for."

It's worth noting that the survey didn't ask how millennials spend their money, and spending actually plays a key role in how money relates to happiness . Studies have shown that money can increase happiness when it's used to save time, create lasting memories or be generous to others.

Achieving a certain level of wealth can also give individuals the freedom to start their own business, or to retire early .

And although young people seem to have high expectations, they are also putting in the required effort. Over 40 percent of survey respondents have a side hustle, for example. Technology has made it easier than ever to get started making extra money on the side, like by driving for ride-sharing apps or renting out spare rooms.

Bohlsen believes the average amount millennials say they need to be happy will rise even more as the generation ages: "They will continue to have higher goals because they're putting in the work to achieve the goals that they have right now."

Don't miss: 54% of those worth $1 million or more say money can indeed buy happiness

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How to Make Big Money on Super-Speedy Wireless 5G Deployment

How to Make Big Money on Super-Speedy Wireless 5G Deployment

China is likely to win the race to next generation wireless technology, according to analysts. The negative consequences for the U.S. of losing could take decades to overcome. Deloitte, the global consulting firm, released a research report last week about the state of fifth generation wireless infrastructure deployment. China is miles ahead. Its lead is growing. Investors should ignore politics and focus on the implications.

5G is not merely an upgrade from 4G/LTE technology. It is orders of magnitude better. Several telco hardware makers have demonstrated download speeds of 10 Gbps, a 1000x improvement over 4G. Latency will shrink to 1 millisecond, from the current LTE standard of 50 msecs. Network capacity will improve, too. This quantum leap is a game changer.

It will unmoor infrastructure from cables and wires. It will mean connected and self-driving vehicles. It will bring true broadband to remote locations. Virtual reality and the mobile internet will blossom with fast, always on, always connected, real-time experiences. Factories will benefit from ubiquitous sensors and networked smart robots.

These new technologies are key to future world economic growth.

It's no coincidence self-driving cars and robotics are core components of Made in China 2025. The set of overarching goals is designed to push the Chinese economy away from low cost, low margin manufacturing. Taking the lead in forward thinking technologies would put the communist country in league with Germany, Japan and the United States.

The Chinese have spent $24 billion, building 350,000 new cell towers since 2015. And the South China Post reported in June, the Ministry of Industry and Information Technology is forecasting an investment of $411 billion through 2030. For comparison, since 2015, only 30,000 towers were constructed in the U.S.

In 2016, the Economist predicted data network effects would fuel the rise of the new economy.

The Trade

A decade ago, Action Alerts PLUS holding Facebook (FB)  and Netflix (NFLX) benefited handsomely by growing their networks. More connections increased the value of the network to users, leading to even more users, and more connections. Even in the midst of privacy controversies, or rising prices, users have remained captive.

5G networks will not be limited to connecting people consuming information. Next generation networks will connect all sorts of things capable of exchanging data all day, every day. Connections beget value, and more connections.

U.S. social and media networks built dominant positions by understanding these interactions. They automated and innovated processes at scale. By deploying 5G first, Deloitte analysts fear the Chinese are about to do the same with data networks. The result would be a decades lead in tomorrow's technologies.

Ultimately, the Chinese are playing by a different set of rules. Authoritarianism allows state agencies to collect unprecedented amounts of personal data. Meanwhile western democracies rail against the opaque privacy policies of Silicon Valley and Europe.

Read More 'Markman On Tech'

Investors should focus on the opportunity. The money will follow.

Qualcomm (QCOM) designs integrated circuits for the telecommunication industry. Since the dawn of the smartphone era, its intellectual property has dominated the sector. The Financial Times reported in January, that the San Diego company signed an agreement will a consortium of the leading Chinese smartphone makers. The goal is to launch 5G devices in early 2019.

In August, the company settled a long running anti-trust dispute with Taiwanese regulators. Qualcomm agreed to pay $93 million in fines, and will invest $700 million in Taiwan over the next five years. Although the terms may seem steep, the company will maintain its controversial licensing model based on handset selling prices.

Smartphones are arguably the least interesting use case for 5G wireless technology. However, Qualcomm's alliance with Chinese OEMs and the settling of legal skirmishes, puts the company's IP in a steering role for future applications in Asia.

Eventually, connected cars, VR headsets and billions of sensors in the field will all need low power processors, modems and antennas.

Qualcomm's stock is up 13.2% this year, and 42.2% during the past 12 months. The market capitalization has risen to $102 billion. Shares now trade at 16.4 times forward earnings, which is not expensive given the outlook.

To the detriment of the U.S., China is going to win the 5G race. Qualcomm managers bet well. Now shareholders are set to win.

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To learn more about my recommendations at the crossroads of 5G wireless, governmetn policy and chips, check out my daily newsletter Strategic Advantage

To learn about my practical research in the short-term timing of market indexes and commodities, check out my daily newsletter Invariant Futures

How to Make Money with Side Hustle Apps

How to Make Money with Side Hustle Apps

If you ask a random person on the street what they do, chances are they have a lot of slashes and hyphens in their job titles. In this day and age, if you don’t have multiple sources of income you are just getting by. The era of working one job your entire life is over, and when it comes to finding ways to make extra money on the side, millennials are very creative with their side hustles. Some side hustles pay well and some are passion projects, but if you’re looking for some extra cash, listen up.

Whether you’re the 44% of the people between the ages of 25 and 34 pursuing a side hustle to make extra income (link https://www.bankrate.com/pdfs/pr/20170712-Side-Hustles.pdf) — let’s face it, anyone who does this on their  free time knows how empowering it can be to have a cushion in your bank account.  Say you’re living paycheck to paycheck, struggling to pay off student loans or credit card debt.

From pet walking with WAG to recycling old clothes in your closet with Relovv or even making money charging electric scooters with Lime, go-getters are shaping the art of the side hustle and making it work for their lifestyles.

Even selling your old tech can make you money. There are now endless opportunities for a motivated person to turn their free time into cold, hard cash. Thanks to new tech, apps and innovations that are helping fuel the rise of a sharing economy that turns assets people already own like cars and homes into business opportunities.

If you’ve already trimmed your budget to the bone with the help of the Mint app and still struggle to make ends meet, stop what you’re doing and read on to make money with these side hustle apps.

Pro Tip: When looking for side hustle ideas, there are several things to consider before signing up, including scalability, earning potential and scheduling.

Scalability Through On-Demand Labor Employers

If you already have a 9-5  job or are in school and have many commitments, scalability is a big factor to consider. Some on-demand side gigs, including Uber, LYFT  and WAG pet walking, allow you to set your own schedule and decide when you want to work. Once you have signed up you can do jobs for these employers WHEREVER AND WHENEVER you want. I like to emphasize wherever and whenever because there is no actual employer that allows its employee to earn in this way.

When money is tight, you can put in more time and work extra hours and take on more jobs to boost your income. Like Uber, Postmates allows you to make your own hours, but no car is required. You can sign up to become a local courier who delivers everything from laundry to take out to customers using the app. You can deliver on foot, by bike, or via scooter.

WAG average pay: You can set your rates, but many dog walkers charge about $15 to $25 per walk.

Uber or LYFT average pay: $15 to $20 per hour ($15.13* is Uber’s current average).

Postmates average pay: up to $25 per hour.

Earning potential

Obviously, side hustles vary in earning potential and each hustle has a different starting price. While some pay a minimum of $10 an hour, others can pay over $40 an hour.

A lot of people have a bunch of junk they never use, hoarded away in their back closet. Let’s turn this into a pile of cash. Remember one man’s trash is another’s treasure. About 50% of iPhone users and 40% of Android users upgrade their cell phone as soon as their wireless company allows (typically every two years).  I am that person, and if you’re one of those people, then you probably have at least one or two old smartphones laying around somewhere.

With each passing year, those old smartphones are losing market value as their technology becomes more and more obsolete.  So it is in your best interest to sell them immediately. Try out Gazelle for electronics.

With just a few pictures of each item, you’ll be able to have posts up in no time, and extra cash in your pocket! Not to mention, the extra space and clean closet!

The Letgo selling app is perfect for selling items around your home, due in large part to the fact that it is the largest and fastest-growing selling app out there.

Relovv is a new fashion marketplace that lets you save the planet from your closet. Not only are you making money, but you will help Reduce Reuse Relovv and change the wasteful fashion industry forever.

Passive Income

You can also earn up to $400 dollars a night in passive income and get paid while you sleep by collecting scooters and charging them overnight though Bird.

The company sends you chargers for free after making you an official “Bird Hunter”. You can access a map interface through the bird app that tells you where the birds that need charging are and how much they will pay you to charge them.

Bird or Lime scooter average pay: The company pays anywhere from $5-$20 per scooter depending on how difficult it is to find and release the scooter. You can charge up to 20 scooters for up to $400 dollars a night.

Do you have that untouched room in your house or apartment? Do you want to make money while doing almost nothing? Yes, that opportunity exists. No skills required — just a clean home and the ability to make sure renters have easy access to it. Airbnb performs a background check and reviews public databases of criminal records and national sex offender registries.

Airbnb Average pay: $924 per month

HomeAway, VRBO and FlipKey are similar companies

Another way to make passive income is rent out your car. Let your car work for you, listing your car is simple and usually takes about 10 minutes. You can set your own rates and your car’s availability. Also, Turo provides comprehensive insurance coverage so you don’t need to worry.

Turo Average pay: Make up to $600 a month

So there you have it. Let us know if we missed an app or if there’s one you favor over another.

The views and opinions expressed in this video and article are those of the author and do not necessarily reflect the opinion or view of Intuit Inc, Mint or any affiliated organization.