Can Money Buy Happiness Financial Coaches Weigh In
According to a study conducted by Princeton University in 2010, a person’s happiness increases until they reach an annual income of $75,000—and then plateaus. Meanwhile, a more recent study from Purdue University found that emotional well-being can be achieved on a salary that’s between $60,000 and $75,000. However, participants who earned a $105,000 salary noted that their happiness had decreased since previously earning less. According to Shari Greco Reiches, wealth manager, behavioral finance expert, and author of Maximize Your Return on Life, this money-buying-happiness (to a certain extent and not beyond) logic centers on the adherence to adaptability—aka “lifestyle creep....