Money Buys Even More Happiness Than It Used To
9th July 2020
While the old adage says that money can’t buy happiness, several studies have determined that the more your income increases, the happier you are, up until US$75,000 a year. After hitting that threshold, more income doesn’t make a difference.
But in a new analysis of more than 40,000 U.S. adults aged 30 and over, my colleague and I found an even deeper relationship between money and happiness.
Because the survey data spanned five decades, from 1972 to 2016, we were also able to see if the link between money and happiness changed over the years. That’s where things got interesting: Today, money and happiness are more strongly related than they were in the past. It seems money buys more happiness than it used to.
The toys have gotten a lot nicer.