“Of all the important and interesting findings Dr. Kahneman and Dr. Deaton’s research has uncovered, the most reported finding is that people with an annual household income of $75,000 are about as happy as anyone gets. More specifically, those with annual household incomes below $75,000 give lower responses to both life evaluation and emotional wellbeing questions. But people with an annual household income of more than $75,000 don’t have commensurately higher levels of emotional wellbeing, even though their life evaluation rating continues to increase.
This finding holds true even where living isn’t cheap. “When we mention $75,000, the question I always get is, ‘What about New York City?’” says Dr. Kahneman. True, $75,000 won’t go very far in big cities like New York, London, or Singapore, and it makes sense that a high cost of living will make even large sums feel puny. “Our finding indicates that $75,000 is the limit even in large expensive cities,” says Dr. Kahneman. “So, though there may be places in which happiness levels off at a lower income, $75,000 is the sufficiency point in the most expensive places.””
- Happiness is Love — and $75,000
This finding holds true even where living isn’t cheap. “When we mention $75,000, the question I always get is, ‘What about New York City?’” says Dr. Kahneman. True, $75,000 won’t go very far in big cities like New York, London, or Singapore, and it makes sense that a high cost of living will make even large sums feel puny. “Our finding indicates that $75,000 is the limit even in large expensive cities,” says Dr. Kahneman. “So, though there may be places in which happiness levels off at a lower income, $75,000 is the sufficiency point in the most expensive places.””
- Happiness is Love — and $75,000