[Comet]

Can money really make you happy? Not really, but up to about $75,000 a year can ease the pain of life's stresses, U.S. researchers reported on Tuesday.

A survey of 1,000 Americans shows they are overall fairly happy, and more money equals more satisfaction up to a point, Daniel Kahneman and Angus Deaton of the Center for Health and Wellbeing at Princeton University in New Jersey found.

"More money does not necessarily buy more happiness, but less money is associated with emotional pain," they wrote in the Proceedings of the National Academy of Sciences.

"Perhaps $75,000 is a threshold beyond which further increases in income no longer improve individuals' ability to do what matters most to their emotional well-being, such as spending time with people they like, avoiding pain and disease, and enjoying leisure."

The people surveyed answered an intensive telephone survey with 450 questions, including detailed queries about income, satisfaction, emotions and stress, called the Gallup-Healthways Well-Being Index.

"Low income exacerbates the emotional pain associated with such misfortunes as divorce, ill health, and being alone. We conclude that high income buys life satisfaction but not happiness," they added.

Feelings of well-being rose with income, but only up to about $75,000 a year, they found.

"As in other studies of well-being, we found that most people were quite happy and satisfied with their lives," Kahneman and Deaton added reassuringly. About 85 percent of those surveyed smiled, felt enjoyment or happiness each day, although 39 percent felt stress.

http://www.reuters.com/article/idUSTRE6873PB20100908

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me thinks those people don't know where to shop

[Feyd]

I always told people that "After $75k, it's just FU money"....


Glad there is finally some research to back up my claim.. haha.

[MisterSkiMask]

Originally Posted by Feyd

I always told people that "After $75k, it's just FU money"....


Glad there is finally some research to back up my claim.. haha.

Hardly, at least not in CA.

I make substantially more then $75k, so does my wife, and I still feel poor and frustrated! (No, I don't have a real estate horror story, I am one of the few with equity)

[MisterSkiMask]

There is truth to this.

After a certain point, lets say $75k you have basically the same stuff, you just have a nicer version and possibly a higher payment.

[BTM]

Originally Posted by MisterSkiMask

There is truth to this.

After a certain point, lets say $75k you have basically the same stuff, you just have a nicer version and possibly a higher payment.

True - I think it depends on where your standards are set...for someone raised in $750-1mil plus house with nice cars, clothes, and good food, $75k annually probably won't go as far as they are used to, but for someone working their way up and without much "fortune" for lack of a better word 75k may be a sigh of relief.

Another important factor is location, location, location

[khaye1]

where did they conduct the research...Montana? That ish don't fly in CA, Boston, Manhattan or any other place with a high cost of living...my research, you spend what you make...it's all relative.

[Feyd]

Originally Posted by MisterSkiMask

Hardly, at least not in CA.

I make substantially more then $75k, so does my wife, and I still feel poor and frustrated! (No, I don't have a real estate horror story, I am one of the few with equity)

Don't have to tell me, that's why I left LA. With the 9.5% state tax + the all other misc. expenses ($700 vehicle registration fees, for example) I'm so happy I'm outta there.


Not even counting real estate, it is just an ungodly expensive place to live...

[MisterSkiMask]

Originally Posted by Feyd

Don't have to tell me, that's why I left LA. With the 9.5% state tax + the all other misc. expenses ($700 vehicle registration fees, for example) I'm so happy I'm outta there.


Not even counting real estate, it is just an ungodly expensive place to live...

For real.

W-2s are depressing, you look at those numbers...'I don't remember spending that much....thats right the tax man got it'

[dth656]

i think in much of the country, you can enjoy a very, very high std of living on 75k a year. texas is one example, upstate ny another that i have personal experience with.

[Freakazoid]

Originally Posted by dth656

i think in much of the country, you can enjoy a very, very high std of living on 75k a year. texas is one example, upstate ny another that i have personal experience with.

'very,very high'? you must have some extremely low expectations...I grew up in lower middle class, and an income of 50k after taxes is certainly not very very high in anything that's even remotely a city.....

[dth656]

Originally Posted by Freakazoid

'very,very high'? you must have some extremely low expectations...I grew up in lower middle class, and an income of 50k after taxes is certainly not very very high in anything that's even remotely a city.....

i base that on primarily on housing prices where i grew up in houston:
-starter 3 bedrm, 2 bath homes for 50k
-large, 3000+ sq ft homes in subdivisions of primarily professional residents for 200k-400k


i would assume that someone on a 75k salary, with income apportioned correctly, should be able afford at least a 100k house and associated expenses.

[Freakazoid]

Originally Posted by dth656

i base that on primarily on housing prices where i grew up in houston:
-starter 3 bedrm, 2 bath homes for 50k
-large, 3000+ sq ft homes in subdivisions of primarily professional residents for 200k-400k


i would assume that someone on a 75k salary, with income apportioned correctly, should be able afford at least a 100k house and associated expenses.

wow... i stand corrected, how far out of houston are you talking here? that's insanely cheap

[Feyd]

+1 on affordable places.. scratch that, plain ass cheap places that exist near civilization.


The down payment on the house I just bought is more than the total mortgage of some of my friends places down in Southern Illinois. We aren't talking trailers either, decent SFHs.

[klipseracer]

Originally Posted by MisterSkiMask

There is truth to this.

After a certain point, lets say $75k you have basically the same stuff, you just have a nicer version and possibly a higher payment.

Last year I made about 100k in 6 and a half months. This wasn't consistent throughout the year, however I can completely agree... 100k is shit. Two more cylinders in your engine, an extra bedroom in your house, nicer restaurants and one more vacation = money gone. People always tell me, "If I made XXXX Per year I'd be rich!" But with that income you have to retain a certain level of respect and position.. I need to dress well, drive good cars and live in a good area to help retain my image which believe it or not is a large part of certain industries. I'm 25.