New study: $50k/yr May Be the Happiness Tipping Point

[Tweak155]

Last year pulled in near $200k and I was not any happier than when I hit $80k. I just saved wayyy more.

I now make less and I'm just as happy. I think it comes down to what you like to do. I don't like having nice things because I just worry if they will get wrecked / scratched / damaged / stolen. So I generally buy used or at a really good deal at this point, and I value things like just hanging out with other people.

Having a lot of money would be nice to bring other people with you to other places you travel. That's about it. But then those people would probably turn to you for other things. So meh. I'm fine with $50-$80k.

 

[natto fire]

The real key to happiness is to not tie it to external things you cannot control.

 

[child of wonder]

Its posts like these that make me really question why people have so many kids. Kids are just another luxury but if you can't afford them without worrying or becoming unhappy wtf do people still have like 3-4 in many families

We have religion to thank for that.

 

[jupiter57]

$50k is nothing when a basic 1,000 sq. ft. house costs over $500k.

This.
It's not so much about how much you make as the area you make (or live) it in.

Heck, we got an 1800 sq. ft. with 47 acres & a barn for $140K.
Nice, nearly new house, plenty of income producing property, no neighbors, plenty of privacy.

 

[brianmanahan]

We have religion to thank for that.

wat

more like we have religion to make umadbro

 

[AyashiKaibutsu]

I could see that I'm a little short of 50k and I just barely need a little more to not really have to worry about money. I'm the type that doesn't want for a lot though.

 

[alkemyst]

wat

more like we have religion to make umadbro

reported.

 

[AdamK47]

It has been a while since I was at the 50K level, but I would have to agree that at the 50K level I felt more secure and happier because of it. I'm at the point now where money is less important than spending time doing other things in life.

 

[Imyourzero]

This.
It's not so much about how much you make as the area you make (or live) it in.

Heck, we got an 1800 sq. ft. with 47 acres & a barn for $140K.
Nice, nearly new house, plenty of income producing property, no neighbors, plenty of privacy.

For God's sake, THIS.

These threads are so freaking stupid. It always ends up with a bunch of people saying "I pulled in way more than $75K and I'm living it up because of it" or "I cleared $120K and we're barely scraping by." Mostly the former, though.

How much you make compared to someone else means very little if geographical factors and cost of living are not taken into account. I live in Virginia and one of my friends is in the process of finishing up her residency. At 30 years old, she already has a job offer in this area for $170K, not counting extra incentives. On that amount of money, she can live like a queen unless she is stupid and goes out and buys a several-million dollar home and a $200K automobile right out of school. But I think she will be reasonable with her money and spend less while saving more. I do not know if she has to pay off her school loans, or if that will be taken care of by her employer.

I'm just saying, you can make less here and have a damn nice standard of living because housing is more affordable than somewhere like Manhattan, DC, many areas of CA, etc. so some of the comments in this thread are completely irrelevant without knowing where you live and what the cost of living is there. $100K/yr. here might be a lot, where somewhere else it might put you well below the average annual income, or the amount of income needed to live well anyway.

 

[AyashiKaibutsu]

For God's sake, THIS.

These threads are so freaking stupid. It always ends up with a bunch of people saying "I pulled in way more than $75K and I'm living it up because of it" or "I cleared $120K and we're barely scraping by." Mostly the former, though.

How much you make compared to someone else means very little if geographical factors and cost of living are not taken into account. I live in Virginia and one of my friends is in the process of finishing up her residency. At 30 years old, she already has a job offer in this area for $170K, not counting extra incentives. On that amount of money, she can live like a queen unless she is stupid and goes out and buys a several-million dollar home and a $200K automobile right out of school. But I think she will be reasonable with her money and spend less while saving more. I do not know if she has to pay off her school loans, or if that will be taken care of by her employer.

I'm just saying, you can make less here and have a damn nice standard of living because housing is more affordable than somewhere like Manhattan, DC, many areas of CA, etc. so some of the comments in this thread are completely irrelevant without knowing where you live and what the cost of living is there. $100K/yr. here might be a lot, where somewhere else it might put you well below the average annual income.

If you're working in Manhattan or DC proper you're going to be making more than enough to be worrying about spending money. I live in the heart of Maryland and I get along fine on ~40k (after taxes) with hefty student loans sapping a good chunk of that.

 

[Imyourzero]

If you're working in Manhattan or DC proper you're going to be making more than enough to be worrying about spending money. I live in the heart of Maryland and I get along fine on ~40k (after taxes) with hefty student loans sapping a good chunk of that.

OK, so maybe Manhattan was a bit extreme bit the point still stands. Take North Carolina; if you live on Lake Norman, you're not going to be living comfortably on $60K/yr. But you could do well on that amount in one of the residential neighborhoods outside of Charlotte. By your second statement, it sounds like we are pretty much agreeing with each other?

 

[ddjkdg]

If you're working in Manhattan or DC proper you're going to be making more than enough to be worrying about spending money. I live in the heart of Maryland and I get along fine on ~40k (after taxes) with hefty student loans sapping a good chunk of that.

Wait, you realize Manhattan and DC have millions of people, right? Not everyone is an investment banker, lobbyist, or lawyer.