What Is The Perfect Income For Happiness?
More than one study has tried to determine the financial price of happiness. Some look at wealth, while others look at income.
One well-publicized study last year put the optimal income for happiness at around $75,000. Rising income, it turns out, produces greater happiness until you get to around $75,000.
After that, there are diminishing returns, with more income leading to little or no gain in real happiness. I don't know about you, but I would like to find out for myself.
"Happiness" itself is not easily defined, and money doesn't always guarantee it. And the financial requirements for happiness usually depend on geography, peer groups and other external factors.
But, the latest study on this whole issue, really astonished me. It was found that the global average "happiness income" is around $161,000. Wow! But the study says you can make less than that and be more happier. The point is, making more than that will most likely make you no more happy.
And what about wealth itself? The study didn't show how much money was needed to be happy. But it did show how much was needed to feel wealthy.
Globally, the average amount needed to feel wealthy was $1.8 million. Americans specifically said a million or so.
I am currently working on my second million. I have given up on the first one.