Hi there! It’s been a minute, hasn’t it? It seems like the financial world has completely shifted since the past four months. Since then, we’ve received updates on student loans, bank runs, and more. I’m picking back up writing this blog to help readers like you the ability to catch up on how the financial sector and how you can use these insights to fuel your wallet.
The biggest update since I’ve been gone? I’m married now! I took the time off to focus on my relationship and the wedding.
I’m jumping back in here with the latest thoughts on the perfect salary for happiness.
Does Money Buy Happiness?
It’s a question on all of our minds from time to time. Will I truly be happier if my salary reflected a specific number?
You may have read in the past the $75,000 is the golden number for our mental happiness when it comes to salary. The catch is that this salary number was reported from a 1970s study. What does that translate to in today’s terms?
The study was updated in 2010 to $90,000 from a paper by psychologist, Daniel Kahneman. Now Kahneman is reviewing his work nearly ten years later.
In a new study shared from Bloomberg, Kahneman is now reporting that salary and happiness are actually directly correlated all the way up. The long standing theory that your personal happiness caps out with a certain salary has been debunked. Kahneman says the correlation goes all the way up with data fizzing out around the $500k mark.
We all knew about this one and we can tell ourselves not to feel so bad. Let’s focus on our happiness outside of finance (but yes, the finance aspect makes the greatest).
Have a great week,
Jordan