Here's How Millennials Define Prosperity

The millennial generation today is somewhere between its early 20s and late 30s, just finding its feet financially in almost every significant way. We're a generation that's always ready to talk about ourselves, and for all our diversity, we actually have some pretty consistent ideas about certain concepts.

Take being well-off. It's sort of a fuzzy "you know it when you see it" thing most of the time, but according to refinancing company Comet, you can quantify prosperity with numbers too. A little over 42 percent of millennials feel like they're well off, which they define in three parts: being debt-free, paying their bills on time, and being able to afford experiences, like trips and concerts.

Comet's survey found some other handy metrics. For one, millennials who count themselves as well-off have about $4,200 in their checking accounts and nearly $55,000 in savings. Of course, as Motley Fool writer Daniel Kline puts it, "Well off is really a state of mind once you're neither hungry, naked, or without a place to live."

It's true that there are different paths to happiness at different incomes, just as there are baseline incomes that tend to make people happier. We all have different (though often surprisingly simple) conceptions of the good life, and we also know precisely how much more productive being happy makes you at work. Perhaps the most important part, however, is staying sharp and continuing to learn about how money works: Financial literacy is a huge indicator that happiness will follow you into old age.