There have been a lot of different studies about what level of income makes you happiest, and the last thing I read was something like $75k a year.
I hate it every time someone uses that $75,000 figure. What you can get for $75k varies widely across the world and across time. The life you can live in SF for $75k will be much less luxurious than in a smaller city for the same amount. And because inflation is a thing, $75k may eventually be a pittance for anybody. Just quoting a random dollar figure feels so click-baity compared to discussing the underlying economic concept of diminishing marginal returns. There is no one universal dollar figure that signifies maximum happiness; it must vary by place, time, and the desires of the person earning it.
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One nit to pick, as I see this a lot:
I hate it every time someone uses that $75,000 figure. What you can get for $75k varies widely across the world and across time. The life you can live in SF for $75k will be much less luxurious than in a smaller city for the same amount. And because inflation is a thing, $75k may eventually be a pittance for anybody. Just quoting a random dollar figure feels so click-baity compared to discussing the underlying economic concept of diminishing marginal returns. There is no one universal dollar figure that signifies maximum happiness; it must vary by place, time, and the desires of the person earning it.