Planet Money
Can money buy happiness?
Sep 18, 2024
Is money the key to happiness? Initial studies say yes, up to $75,000, but new research flips the script, suggesting that more money correlates with increased joy beyond that point. Experts debate this evolving relationship, emphasizing the complexities of emotional well-being versus life satisfaction. A fascinating exploration of contrasting studies reveals how personal fulfillment often intertwines with financial choices. Join a thought-provoking discussion on whether financial success truly elevates happiness or if genuine joy lies elsewhere.
28:48
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Quick takeaways
- The traditional belief in a happiness plateau at $75,000 has been challenged by new findings indicating that increased income correlates with greater happiness without a defined limit.
- The collaborative study by Killingsworth and Kahneman highlighted the importance of diverse measurement methods in understanding the complex relationship between income and emotional well-being.
Deep dives
The $75,000 Happiness Plateau Revisited
The idea that money can buy happiness up to a point, specifically around $75,000 a year, has been widely accepted since a 2010 study suggested a happiness plateau at this income level. This notion was explored by Bernadette Cruz-Mullian, who supported the finding based on her personal experience and corporate job income. However, she later discovered that the more money she made beyond that point, the less happy she felt, leading her to change her career path in pursuit of fulfillment instead of wealth. This shift ultimately granted her financial success alongside genuine happiness, prompting a reevaluation of the original plateau idea.
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