Happiness costs $75kpy

[ItsAGuy]

What does it take to be happy? About $75,000. - chicagotribune.com

Interesting! (not entirely MTBI related, but interesting.)

 

[Moiety]

I honestly think I wouldn't spend all that money wisely if I had it. I'd probably eat like a pig, and grow even lazier and overall have a lifestyle that would actually make my body and mind unhealhtier.

 

[Hirsch63]

It would certainly allow me to increase charitible works... and maintain regular medical, dental and vision care. It would almost certainly reinforce my current vice of frequenting used book stores.... and shopping for guitars. I would plough the rest into my biz...

 

[The_Liquid_Laser]

I'd imagine you'd have to adjust this amount depending on the cost of living for your city. Perhaps $75,000 is something of a national average?

 

[ItsAGuy]

I'd imagine you'd have to adjust this amount depending on the cost of living for your city. Perhaps $75,000 is something of a national average?

Oh yes; I make roughly this amount in D.C. right now and it nets me a small car and a 1br apartment and a little on the side to invest with in terms of art for my various narrative projects. If I had this back in my homeland of Maine, it would make for a large house, a couple of cars, a large yard, and myriad hobbies.)

 

[Aquarelle]

Well, I'm pretty happy, and that is over 2x what I make per year... I do wish I earned a bit more $, but I don't need $75,000/year, at least here in MN. Now, that's individual income, though. The article wasn't totally clear, but it seemed like it was talking about individual, rather than household income...

 

[INA]

I'd imagine you'd have to adjust this amount depending on the cost of living for your city. Perhaps $75,000 is something of a national average?

Yeah, this isn't that much at all in NYC.
Something that's conveniently forgotten when people yak about the top 5% income earners is that these people often live in places like NYC where the COL is quadruple what it is in other places.

 

[cafe]

Well, I'm pretty happy, and that is over 2x what I make per year... I do wish I earned a bit more $, but I don't need $75,000/year, at least here in MN. Now, that's individual income, though. The article wasn't totally clear, but it seemed like it was talking about individual, rather than household income...

I was thinking I'd read something that said $150K so that would make sense.

Cost of living is pretty low here, so our family of six could do pretty well on $75K. That's actually around the target of what we'd like to make in order to retire comfortably in 25 years.

 

[prplchknz]

my yearly income is 19,200 its not a lot but i make do. also I'm only supporting myself, and my rents going from 700 to 525 in january so that's 200 extra dollars freed up right their. I wouldn't say I'm struggling well except this month but some complicated things happened. I just need to make it to october, I don't know if I'll ever make 75,000 a year i hope to some day.and the only bills i need to worry about is food,internet,phone, my share of rent, and credit card so i do quite well.

 

[ItsAGuy]

Mostly, from this, I took away the interesting part that AFTER reaching that threshold, people stopped being happier. I'm there's tons of unhappy 75kers and some blissful 20kers... it's just interesting data.

 

[Halla74]

Mostly, from this, I took away the interesting part that AFTER reaching that threshold, people stopped being happier.

The law of diminishing returns applies even to annual income.

It's true, think about it.

If you eat one cheeseburger, it is good.

Then you eat a second, and it is only half as satisfying as the first.

Finally when you try to eat a third you realize you never want a cheesburger again.

With money, it's a little more of an elusive concept to ponder on, but the point is that at some point the sparkle of materialistic distractions becomes incapable of distracting the emptiness of a person without purpose.

I'm there's tons of unhappy 75kers and some blissful 20kers... it's just interesting data.

Human variation is indeed vast and unpredictable in many ways.

Money is great, but I've always been more into people and freedom.

 

[Tiltyred]

$75 doesn't get you much in the DC area, for sure. I do a little better than that, and have a tiny condo and a tiny, cheapish car to show for it. If my happiness depended on money, more like $150 would have me smiling. Right now, it's more an occasional grin.

 

[cascadeco]

Man... so odd.. I mean I can totally see it, but the sheer amount of 75K totally boggles my mind, I don't even know what I'd do with that. I remember I was gleeful and thought I was living it up when my salary hit 42K right before I quit my job, and even with that I was living in a 750/mo apt (which, yes, I realize would be 'cheap' compared to certain cities in the country), taking some pretty substantial trips out of the country, could eat out and buy unnecessary things on occasion, plus put a decent amount into savings. I was even able to do all of that in the 30K range.. well, minus most unnecessary purchases and much of a cushion in savings.

Interesting.

For me, I think it would end up just meaning a whole lot more went into savings. Which would be nice, actually. I currently have little ability to add anything into retirement accounts.

 

[ItsAGuy]

Man... so odd.. I mean I can totally see it, but the sheer amount of 75K totally boggles my mind, I don't even know what I'd do with that. I remember I was gleeful and thought I was living it up when my salary hit 42K right before I quit my job, and even with that I was living in a 750/mo apt (which, yes, I realize would be 'cheap' compared to certain cities in the country), taking some pretty substantial trips out of the country, could eat out and buy unnecessary things on occasion, plus put a decent amount into savings. I was even able to do all of that in the 30K range.. well, minus most unnecessary purchases and much of a cushion in savings.

Interesting.

For me, I think it would end up just meaning a whole lot more went into savings. Which would be nice, actually. I currently have little ability to add anything into retirement accounts.

Aye aye; Right about now, I'd happily take a paycut of about a third of that if it meant I could head back up to Maine. I dislike D.C. quite a bit.

 

[Amethyst]

My parents each make around 75-80kpy...and they're miserable about how poor they are, but then again, they don't talk about where the money goes. A lot of it is just plain wasted or spend way too much on utilities.

Plus, if I had to make an estimate on how much would make me happy, probably at least 120k for myself per year...I want to travel and do things, and even with the money my parents make now they can't afford it.

 

[nolla]

I've not wasted money since 2003. I became a student then and now I'm unemployed. Everything I get goes to living. All clothes I have are secondhand, I brew my own beer. Too bad I drink coffee and smoke, it's expensive.

I wouldn't say I am unhappy, though... Unemployment gives certain freedom, and you learn to do stuff. Like bake bread and build things. Just made a new casing for my computer. Not pretty, but works...

 

[Saslou]

75,000.00 USD = 48,473.94 GBP

Holy shit.

I earn with tax credits around £21K at present .. I have 2 teenagers though and they like their 360 games. If i only had to live on my work income i would be fucked financially.

I am happy with what i have though .. I recently sold my car so i could save more money and i'm doing incredibly well so far with regards to my savings.

I'm also the person though that when on welfare when younger was able to save for driving lessons and take a weeks trip to Canada without my kids suffering.

You just get smart and really happiness doesn't come from what you have .. But how you feel about everything.

 

[FDG]

Oh yes; I make roughly this amount in D.C. right now and it nets me a small car and a 1br apartment and a little on the side to invest with in terms of art for my various narrative projects. If I had this back in my homeland of Maine, it would make for a large house, a couple of cars, a large yard, and myriad hobbies.)

Yeah, that's the problem, how to take into account cost of living. Around here, 75'000 € - year would mean luxury car, a large villa, luxury vacations (supposing a 2-childern family, which is the standard). Moreover, is it gross or net? Because if it were gross, then it'd be like 37k - year of net income, which is standard for a 2-children family.

 

[skylights]

i read something similar to this lately but the cutoff was 40k. seems more logical to me. 75kpy around these parts is a lot (though i've got family in NYC, i'm well aware it's chump change there)

i think i could be happy on very little but i want to make a lot because i like luxuries, lol. i like eating at fancy restaurants and going on cruises and travelling and god plane tickets cost a lot. oh and i like gadgets... that's a serious problem too... lol

 

[Chunes]

I make less than 1/7 that amount and I'm happy.

The idea of a monetary value being attached to happiness makes me sick, even if it's some sociology study. I don't buy it.