Wednesday, August 31, 2011

Beyond What Point Is The Money Not Worth Earning?

For most, the question is a non-sequitur. More money equals more happiness. So more is always better. And more never becomes enough if only because there is always more. So goes the argument . . . Unfortunately for those who operate on this paradigm, the news is not good. Studies of Americans at different income levels reveal the following: " might bring you some happiness, but beyond that magic point, any additional income isn't going to make you happier." That magic point has, apparently, been deduced as approximately 75,000 USD a year, according to a recent study by two Princeton University researchers who looked at the data of approximately 450,000 Americans. What they found was that as income increased, emotional well-being also went up, but the line flattened out from the $75,000 mark.  "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," the study reported. This means that people in the US who make $75,000 US a year are just as happy as those who make $150,000. Any higher income is not going to increase emotional well-being, but a lower income is associated with less emotional well-being." Once basic needs of food, shelter, clothing (and some say a basic education) have been met, the rest is window dressing. Many believe this precept at an intellectual level, but it is hard to find more than a handful who have made the choice to have less as a way to happiness, compared to the far more common paradigm of having more, or at least wanting more. It is more than an interesting fact. Courtesy of Knowledge@SMU via Barking Up The Wrong Tree


Post a Comment

<< Home