Financial Truth #1: Money doesn’t buy happiness
Researchers have shattered the illusion that having more money makes you happier.
They say earning about $75,000 a year is the sweet spot. That’s a national average that varies depending on where you live. Happiness costs more in big, expensive cities like New York and San Francisco.
Earning $75,000 allows the average American to pay for comfortable housing, have reliable transportation, eat well, take an occasional vacation, and save for the future.
If you earn 20% more, that’s fantastic, but it’s not likely to make you 20% happier.
In other words, money definitely can buy comfort and security. But once you have a moderate amount of stability and income, having more doesn’t make you incrementally happy.
My level of happiness has generally been about the same throughout my entire life, no matter my level of wealth. I think most people are born with a happy thermostat or set point that doesn’t change drastically, no matter how much they have in the bank.
- See more at: http://www.quickanddirtytips.com/money-finance/retirement/8-financial-truths-that-can-change-your-life#sthash.ls0kLPDU.dpuf