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Does it really take $75,000 for a family of 4 to be happy in the United States?
Daniel Kahneman and Angus Eeaton studied the Gallup survey data. They found that happiness increases as income grows up to $75,000, but not after that. Making a million doesn't make you any less emotionally disturbed about your life. Is it perhaps that it's just going to be crazy and stressful no matter how much you make. See the study:
How much money do you need to be happy? A Gallup poll says it's $75,000. Is this the case for you? read more
Happiness is a state of mind that can only be defined by the thinker in question. In other words everyone has a certain amount of actual needs that in turn require a certain amount of money to take care of. If we are using money as a counter I think I would be very happy if my home brought an estimated 75 big ones in annually. Why people don't always get happier in relation to the amount of money they bring in is often due to the fact that the more some folks make the more bills they acrue. Stupidly the more money they have the more they place themselves in debt. It piles up and up as they try to keep up with the jones' and although they make way more money than the average citizen they struggle to survive.
How does a poor monkey like me know this? I have friends. One friend I knew had a great career and between he and his wife they could have lived comfortably and peacefully but instead they had to have more, and then more, and then more, until they had so much they couldn't keep up with everything. Dude makes so much more money than I will ever see unless I get lucky and get published or win a lottery and yet you could look at us and see that i am way happier and more stress free than he. They did it to themselves, overextending and then complaining when they get taxed like nobody's business. If people would stop being such high octane consumers and grow the hell up and act like responsible Americans they wouldn't end up with all this debt and stress.
Ignorance is bliss, being unable to afford anything other than your immediate concerns, while often depressing, is also a relative bliss.
The number varies per family and per person due to a variety of factors such as where they live, educational needs, medical conditions, hobbies, commutes, etc. I have seen similar studies that say figures in this range make people the happiest. I say it depends on whose hands that money flows through. There are many areas in the country where you could not be comfortable on this amount and areas where you'd live like a king or queen.
Wow! Express10 said “it depends on whose hands the money flow through.” That is brilliant, at least in my mind. If I had to beg for a million, it would be eviscerating. And yeah, Robert, it surely has to do with values. Right on, Barnsey. Even billionnaires have to go to work because they spend more than they have coming in.
I know that I am making quite a bit less than that now, and we are struggling. In my position I am capped out, meaning that even if I rated a raise, I wouldn't get it. I will say this. Even if a family of 4 was bringing in 42,000 a year, the cost of living is so high now, they would have little of their paycheck left over to save or to go out with. It is very, very hard these days. I would love to see 75,000/yr.
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