Does happiness have a price? For a majority of Americans, the answer is yes — but it doesn’t come cheap.
About 6 in 10 of Americans believe money can buy happiness, according to a new poll from financial services firm Empower. Yet to achieve happiness through financial means, most people say they’d need a significant raise, as well as a big chunk of money in the bank.
Median household income in the U.S. stands at about $74,000 annually, but respondents told Empower that they’d need to earn roughly $284,000 each year to achieve happiness.
And as for wealth, Americans said they’d need even more in the bank to feel content: $1.2 million, to be exact, the poll found. Many people are wealthier than they were a few years ago, thanks to the rise in real estate and stock market values, yet the median net worth of U.S. households stood at $192,900 in 2022, according to the Federal Reserve.
When you have repeatedly had to choose between having power or water for a given month, not having to do that makes you very happy.
I think the removal of a negative stimulus is a different kind of emotion than the addition of a positive stimulus.
I get where y’all are coming from. I really do.
I still think it’s a misrepresentation of what “Money doesn’t buy happiness” means.
And yes, studies do show that money does buy (read: positively correlate with) happiness. Not just what this study seems to be reporting by asking people what they want, but by actually examining for correlations. It does seem to max out at a number far lower than a lot of politicians and C-suite execs are making though.
I’m not saying “Money doesn’t buy happiness”. I’m just saying that “Buying things that make you happy” is different from “Meeting basic human needs in the modern world”.
I don’t think you’re arguing against the concept or anything. I’d thought maybe you hadn’t seen what people meant.
I can for sure understand your perspective.
Gotcha. Have a good day!
Aww, niceness on the internet!