How much is enough?

[FreeJoe]

A coworker told Mr that he has seen studies that show that one income reach a certain point, earning more doesn't translate to more happiness. He said that more income make people happier until they make about 75,000/yr. What do you think?

[pipoman]

1. Nope

75k in LA or Omaha? 75k ain't always 75k. ..

[okaawhatever]

2. I've seen reputable studies on the same thing. This was probably two years ago and it was 60k. I

think that must be the dollar amount where people can successfully take care of their families, save some for emergency and enjoy some of the finer things. Another interesting thing is that happiness is greater when you earn more than those around you, so being the poorest person in the nicest neighborhood isn't as gratifying as some think. There is a happiness website that has a lot of the data but I can't remember the name.

[LiberalEsto]

3. It depends a lot on how many people that income is supporting

and where one lives. In the DC area, $75,000 doesn't go that far for a family.

[FreeJoe]

4. Forget the exact amount

Do you think that there is an income level, short of millions, where more no longer make you happier.

[LiberalEsto]

5. Honestly, I have no idea. Wish I did.

[cherokeeprogressive]

6. I think your coworker should never earn more than $75k.

One more unhappy person is something the world doesn't need.

[hfojvt]

7. that has to be hard to measure

For one thing, most people do not reach $75,000.

For another, it's not all about income. How do you GET your income? That is, how many hours do you work, and how much stress and other crap do you have at work?

What is better - a $60,000 a year job that puts you through the wringer? Or a $40,000 job with a lot fewer hassles?

A $60,000 job with a 60 hour week? Or a $30,000 job with a 30 hour week?

In both cases, I would take the lower paying job. Ever since I got out of college, the only thing I have wanted to buy with my money (at least the main thing after, of course, food and shelter) - is my freedom.

Let me give a real life example. After I graduated from college I got a full time job that paid $18 an hour (Actually it paid $8.47 but I converted that to today's money). My employer, as an incentive to keep me working there, promised me a raise every year for 3 years. I was GS-7 in 1986, GS-9 in 1987, GS-11 in 1988 to GS-12 in 1989. GS-12s make $29 an hour (still well short of $75,000, but in my eyes VERY good money).

But even at GS-7 what I wanted was NOT more money, but rather I wanted more "free time". If they had offered me a shorter work week every year, I probably would still be there. I mean, especially as my hourly rate goes up, working all those extra hours really seems redundant.