Feedback Loop: On Money and Happiness

Tuesday, September 07, 2010 - 11:03 AM

A new study looking at the correlation between money and happiness reveals that you actually stop getting happier at a certain point, spefically after you reach a salary of $75,000 a year. The study got us wondering if there are actually times when having more money has made us less happy. We put the question to our listeners. A texter from New York says, “Never! Ask me again when I'm making more than 75K.” And from Fort Lauderdale, Fla, “Absolutely never!” And from Columbia, SC, “When I won the lottery...kidding, never!” 

So there's a bit of a consensus... But some listeners shared longer stories touching on the relationship between happiness and money.

On our website:

Betsy L. Angert from Fla. writes:

From birth to the ripe old age of near nine, I was very wealthy, and yet, not very happy. Later, after having been extremely poor and ecstatic, I became well off again. The two experiences of being with and without ample money were as dissimilar as can be. Bliss, I learned, is not a by-product of affluence. Who is family, the ethics within a household, the means to acquire money, care and compassion, given and received, provide happiness. Greenbacks do not govern feelings.

Ling adds:

When you are either forced to or accidentally leak out where you live, the experiences you have had, or even mentioning cable shows. People see/treat you different from the start if you seem to have an economical benefit.

 

 

On Facebook, users had a lot to say:

James Ellsworth:  

IF I had a mere $100,000.00 I could set myself up forever with the proper investments!

Rusty Roy:  

It all depends on what was required to come into possession of that large amount of money.

James M. Gregg:  

Assuming that happiness can't begin until basic needs are met, then increases as desires and wants are met until there are none left, the study's limit of $75k seems rather low for the average consumerist American. I would say the actual number depends on your expenses and standards - I've known people making $150-200k/year who were still living paycheck to paycheck because of their huge house, 3 cars, boat, private school, etc.

Lyndon Dees:

I'm not sure how much would be too much for me. I'd love to reach a point where I could live comfortably without worrying about how I'm going to cover the basics (food, shelter, utilities). At this point if I were to make over, say, $60K per year, I would save the excess and hope my kids get scholarships once they reach college.

 

And comments came in via text message:

A texter from Fort Washington, PA said: Going back to 75K would not make me happy!

From Worcester, MA: Making more money made me less happy when I realized I wouldn't be able to afford to change jobs to shorten my commute or spend time with my kids.

From New York, NY: Can't think of a single occasion when more money made me unhappy! By the way, in NYC 75K is not a lot of money. But if you have an unhappy excess: give it to charity!

From Atlanta, GA: When you've gotten rid of all the "friends" that were there when you had more.

 

 Keep the conversation going on The Takeaway website, call in to 877-8-MYTAKE, check out our Facebook page, and follow us on Twitter.

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