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(Lifehacker)   Emotional well-being also rises with income, but there is no further progress beyond an annual income of $75,000   (lifehacker.com) divider line 241
    More: Unlikely, emotional well-being, Gallup Organization, Maslow's Hierarchy of Needs, incomes  
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6932 clicks; posted to Main » on 18 Jun 2012 at 5:48 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-06-18 05:14:10 PM
Last study said it was $120,000.
This is one hell of a recession!
 
2012-06-18 05:17:43 PM
I'm sure the 80% of Americans who don't make that salary feel awesome.
 
2012-06-18 05:24:16 PM

Quasar: I'm sure the 80% of Americans who don't make that salary feel awesome.


I feel... just... CAPITAL.
 
2012-06-18 05:45:40 PM

Pawn takes the King: I feel... just... CAPITAL.


img843.imageshack.us
 
2012-06-18 05:50:23 PM
I'm sure there are some Park Slope residents who would beg to differ...
 
2012-06-18 05:53:07 PM
"If money don't buy happiness, I guess I'll have to rent it"
-W.A. Yankovick
 
2012-06-18 05:54:52 PM
Huh, well I certainly feel much more comfortable and happy than when I made 75k. Money may not buy happiness, but it buys things that make me happy.

Plus it's nice not having zero dollars in my savings account. As always, your mileage may vary.
 
2012-06-18 05:54:58 PM
Sounds about right.

Rich people don't seem terribly well-adjusted mentally, if you know what I mean.
 
2012-06-18 05:55:02 PM
Paging Maslow....

After your basic needs are taken care of and secure, no amount of cash is going to buy you "self actualization."
 
2012-06-18 05:55:49 PM
Perhaps income rises with emotional well-being.
 
2012-06-18 05:56:25 PM
I'm sure this varies somewhat based on cost of living in a given area, but if Lordfortuna and I were EACH pulling down that much, we'd be pretty damn happy, since we could do what we want in terms of residence instead of what we had to settle on. We'd much prefer to live out by his parents, but couldn't afford the build cost and utility installation. Mostly because we like to pay at least 75% up front, if not more.
 
2012-06-18 05:57:49 PM
Yeah, money can't buy happiness, but broke can't buy shiat.
 
2012-06-18 06:00:18 PM
"Unlikely", subby? This is well-established in psychological research. These studies have been going on for decades, and the basic findings remains the same: Poverty sucks, so increasing income increases happiness until a certain freedom from suffering is attained. Above that point, the curve levels off and money stops buying happiness. This is not a controversial finding.
 
2012-06-18 06:00:42 PM
So to be happy I need to make more than double what I make now. Got it.
 
2012-06-18 06:02:52 PM
Yes, I am willing to settle for $75k. Someone please pay it to me.
 
2012-06-18 06:02:56 PM
* Offer not valid in major metropolitan areas.
 
2012-06-18 06:03:05 PM

Wangiss: Last study said it was $120,000.
This is one hell of a recession!


This is around the number I had heard from the stumbling on happiness book, I think. Everything just plateaus beyond that point.
 
2012-06-18 06:04:43 PM
I'm far too angry for that to be correct...
 
2012-06-18 06:06:05 PM
3. Buy many small pleasures instead of few big ones

sharedlog_ai.s3.amazonaws.com

Every day, once a day, give yourself a present. Don't plan it. Don't wait for it. Just let it happen. It could be a new shirt at the men's store, a catnap in your office chair, or two cups of good, hot black coffee.
 
2012-06-18 06:06:08 PM
I make more than 75K Doubling my salary would make me twice as happy as I am now.

Stupid article is stupid.
 
2012-06-18 06:10:06 PM

TheManofPA: Wangiss: Last study said it was $120,000.
This is one hell of a recession!

This is around the number I had heard from the stumbling on happiness book, I think. Everything just plateaus beyond that point.


The last number I heard was $75k as well. It seems psychology isn't so big on inflation.
 
2012-06-18 06:10:36 PM
Surely there are billionaires out there who wish to show me peak happiness.

/I'm keeping my fingers crossed for a world-famous billionaire bikini supermodel astrophysicist.
 
2012-06-18 06:10:44 PM

Son of Thunder: "Unlikely", subby? This is well-established in psychological research. These studies have been going on for decades, and the basic findings remains the same: Poverty sucks, so increasing income increases happiness until a certain freedom from suffering is attained. Above that point, the curve levels off and money stops buying happiness. This is not a controversial finding.


Take a family of four and introduce them to a metropolitan area. I'm sure $75k/yr is the limit to just how happy that family can be due to income.

...or maybe we should introduce these researchers to economists and the wide world of "Cost of Living."
 
2012-06-18 06:12:14 PM
I imagine that there is a plateau which represents being financially comfortable but still shackled to a job as a means of sustenance. To bottom range of that plateau would depend on the cost of living where you live. There is some point at the other side of that plateau where you could quit your job and do whatever you wanted without fearing for your or your loved ones well being.
 
2012-06-18 06:12:30 PM
I'm not taking a pay cut for that.
 
2012-06-18 06:13:46 PM
I read "emotional well-being" as something closer to sanity than happiness, which puts it out of the reach of most of you no matter how much you make.
 
2012-06-18 06:14:15 PM
Think about what your not thinking about?
Hmmmm, I have to think about that kind of thinking.
 
2012-06-18 06:15:20 PM
PFFT! I won't be happy until I have a dozen yachts to water ski behind. Eleven just doesn't cut it.
 
2012-06-18 06:15:50 PM
75K in DC = about 40~50k in no where America.

So yea - where is this 75k number from?
 
2012-06-18 06:15:58 PM
Article is flawed in that the graph of income vs. happiness is not a simple curve. Sure, from 0-$75K it's fairly linear, and then it flattens out, but when you reach the $150M stage and can start being able to afford your own genuine Montenegrin lavatory slaves and force them to dress like Darth Vader while ominously asking, 'What is thy bidding, Master?' you hit a big uptick in the happiness department. Then there's the mountain fortress in the shape of your head, complete with space-based laser system for bringing death to your enemies at two billion, and at six billion you get the space station full of genetically enhanced serfs trained to fight to death in gladiatorial combat for your sardonic amusement. Sure these things may be out of the reach of most people, but the article could at least TRY to show the full picture.
 
2012-06-18 06:17:20 PM
conspiracydebunked.com

What really happy might look like
 
2012-06-18 06:17:55 PM

rumpelstiltskin: I read "emotional well-being" as something closer to sanity than happiness.


That was my thought. Sure you can do more with $150k, but maybe $75k is the magic number where most people can sleep at night knowing that they can pay their mortgage AND the gas bill AND buy clothes AND save for retirement AND maybe take the odd vacation here and there. It doesn't say anything about supporting family members though, so I don't know if that skews the equation one way or the other.
 
2012-06-18 06:18:44 PM

H31N0US: I imagine that there is a plateau which represents being financially comfortable but still shackled to a job as a means of sustenance. To bottom range of that plateau would depend on the cost of living where you live. There is some point at the other side of that plateau where you could quit your job and do whatever you wanted without fearing for your or your loved ones well being.


That is around having $20 million in investable assets.
 
2012-06-18 06:18:49 PM

toraque: Article is flawed in that the graph of income vs. happiness is not a simple curve. Sure, from 0-$75K it's fairly linear, and then it flattens out, but when you reach the $150M stage and can start being able to afford your own genuine Montenegrin lavatory slaves and force them to dress like Darth Vader while ominously asking, 'What is thy bidding, Master?' you hit a big uptick in the happiness department. Then there's the mountain fortress in the shape of your head, complete with space-based laser system for bringing death to your enemies at two billion, and at six billion you get the space station full of genetically enhanced serfs trained to fight to death in gladiatorial combat for your sardonic amusement. Sure these things may be out of the reach of most people, but the article could at least TRY to show the full picture.



Montenegrin? Please.
 
2012-06-18 06:19:01 PM
I could believe that but it also probably goes up when you become independently wealthy too.
 
2012-06-18 06:19:29 PM
That's the wage of a Tim Horton's clerk in Northern Alberta and they don't look so happy
 
2012-06-18 06:20:31 PM
Doesn't seem so odd. Having been at extremes of income well on either side of that at various times, I get it. Sorry, but the people around me making $2M a year think they are poor and struggling, too, just like the people did at $500k or at $50k.
Fact is, people get psychologically baselined at the income and privilege level they are at, and think they need more. It doesn't stop. I am assuming its the same way with billionaires too. People don't change.
 
2012-06-18 06:22:55 PM

Lt. Cheese Weasel: I make more than 75K Doubling my salary would make me twice as happy as I am now.

Stupid article is stupid.


Just out of curiosity, but do you have several kids or something? Cuz I could totally see the financial happiness being less if you have kids that you have to spend more on (not that I'm [entirely] anti-other-people's-kids, just that you have less for fun stuff).
 
2012-06-18 06:23:44 PM

GoodOmens: 75K in DC = about 40~50k in no where America.

So yea - where is this 75k number from?


Originally from Indian mathematicians, with the system transmitted to Europe in the Middle Ages by Arabs. But that's not important right now.
 
2012-06-18 06:24:13 PM
how much you make is important. but equally important is how much you blow/spend.

if you make 200k/year and spend 200k/year, you're no better off than anyone else. if you save/invest 100 or 150k of that, then in a few years you'll be looking pretty.
 
2012-06-18 06:24:58 PM
Did you know that the first Matrix was designed to be a perfect human world? Where none suffered, where everyone would be happy. It was a disaster. No one would accept the program. Entire crops were lost. Some believed we lacked the programming language to describe your perfect world. But I believe that, as a species, human beings define their reality through suffering and misery. The perfect world was a dream that your primitive cerebrum kept trying to wake up from. Which is why the Matrix was redesigned to this: the peak of your civilization.

- Agent whatshisname.
 
2012-06-18 06:25:41 PM

caramba421: Yeah, money can't buy happiness, but broke can't buy shiat.


I've heard it a different way:

Money doesn't buy happiness, but debt sure does buy grief.
 
2012-06-18 06:26:01 PM
But the excess over $75,000 helps me pay for some high-end therapists, and I have a deluxe insurance plan that pays for all the antidepressants and anti-anxiety meds I need, so it's all good.
 
2012-06-18 06:29:25 PM

Salmon: That's the wage of a Tim Horton's clerk in Northern Alberta and they don't look so happy


shiat, for that kind of money (assuming the exchange rate is about the same as it is now) I'd go work for TH in Alberta. Could buy some good geothermal heating for the cabin with that kinda cash...
 
2012-06-18 06:30:45 PM

Linux_Yes: if you make 200k/year and spend 200k/year, you're no better off than anyone else.


Well... you probably have much nicer stuff. And eat better food. And have more fun.

But otherwise, ya.
 
2012-06-18 06:31:21 PM

Beleaguered: Son of Thunder: "Unlikely", subby? This is well-established in psychological research. These studies have been going on for decades, and the basic findings remains the same: Poverty sucks, so increasing income increases happiness until a certain freedom from suffering is attained. Above that point, the curve levels off and money stops buying happiness. This is not a controversial finding.

Take a family of four and introduce them to a metropolitan area. I'm sure $75k/yr is the limit to just how happy that family can be due to income.

...or maybe we should introduce these researchers to economists and the wide world of "Cost of Living."


Agreed. Given the amount of measurement error around constructs such as "happiness", it's very odd that the value could remain so consistent. I'm not saying the finding itself is odd or controversial. But the dollar amount seems silly, epecially to those of us in areas with a high cost of living, and a little too consistent across these studies.

What's more, not only does it seem like the dollar amount is wrong, it seems like even a value corrected for cost of living or inflation shouldn't apply to everyone of different age and experience levels. I mean, across almost any field, a person would be happy with $75K as a starting salary, and in some fields that's a mid-level salary. In my particular field, anyone in their 40's and/or more than 10 years out of grad school would be extremely unhappy with that salary, because it's not what they're worth, and they would know that. And even if you have enough money to pay the bills, I would think that being aware that you're worth more than you're being paid would make you, well, unhappy.

/speaking from personal experience
//money bought the house that made me happy
///but I first met my husband when I was poor, so it all balances out
 
2012-06-18 06:33:15 PM

the_vicious_fez: rumpelstiltskin: I read "emotional well-being" as something closer to sanity than happiness.

That was my thought. Sure you can do more with $150k, but maybe $75k is the magic number where most people can sleep at night knowing that they can pay their mortgage AND the gas bill AND buy clothes AND save for retirement AND maybe take the odd vacation here and there. It doesn't say anything about supporting family members though, so I don't know if that skews the equation one way or the other.


I read it similarly. Something along the lines of the point at which fear of being caught without enough money stops being one of the major emotional focal points of your life. The point at which there's a feeling (accurate or not) of financial security.
 
2012-06-18 06:34:08 PM
So what do I have to do for the $75k ?

The most I ever made was about $50k and I was glad to have it my bills all got paid off, loans kaput, and then I had money in the bank. It helped a lot when I was laid off that job.
 
2012-06-18 06:34:25 PM
My research tells me that when your financial state is such that you get excited when you have enough money to buy necessities, more money may make you more happy. E.g. if you're popping the cap off a tube of toothpaste like it's a bottle of Cristal, you may have some room for improvement.
 
2012-06-18 06:35:46 PM
I've heard it was right around that number for about 2 decades now, and at this point I think it's pretty accurate given what my financial goals are.
 
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