I think money has diminishing returns after 70,000/year in one study. Basically is the level that is sufficient to insulate you from the uncertainties of life.

I’ve known people on very high paying jobs who were completely miserable and poor people who were blissfully happy.

So I guess it very much depends on the individual.

For me a good paying job means I have independence. I can afford some luxuries (in my case books, single malt whisky and computer games) and I am free of financial worries. If that constitutes happiness then yeah I am happy

I think, personally, in my case, yes. I know I'd feel a lot more self pride and satisfaction if I didn't have to worry if I'm going to have food for the month. That said I think once you're at a point where money is no longer a concern, it's more just a matter of pride than satisfaction

I was very lucky in that I was an electrician and loved the work. I think so long as you have the basics in life and can set yourself up for retirement you'll be happy.

I listened to a Radiolab on this once that stuck with me for some reason. Basically said that it does up until you have enough to cover your needs comfortably without having to worry. After that it makes very little difference.
I was trying to look up the show to share here but couldn't find it (could have been a Ted Talk or something else). I did see quite a few others that said money makes you happy when you spend it on others, which makes sense too.

All I ask for is a chance to prove that money won't make me happy.

Wealth doesn't make you happy but it's nice to be wealthy if you're already happy. If you're a bitter person same thing wealthy or not, still bitter.

Money may not buy happiness, but neither does poverty.

I grew up in a very modest house, and my mom and dad didn't make much money. We always had enough for food clothes shelter and a car. Over the years, I've seen times where I had nearly nothing to now where I can afford to buy extras if I want. Through it all, I've lived within my means, and been pretty happy. I learned the freedom of having nothing and not having to worry about upkeep, or guarding it against theft, and I've learned the joy of having money to give to charity, or buy a motorcycle if I wanted. I'm financially in better shape now than I ever have been, but I still try to live modestly.

I know happiness doesn't come from having a lot of money, but I've never been to the point that I didn't have the basics. I really feel for people that have to face that.

Social services careers such as mental health counseling are notoriously low-paying. Yet some of the happiest people I have met are in those occupations. Maintaining a certain income level is important though. Worrying about whether or not utilities will be turned off or being able to pay the rent is a depressing, non-satisfying way to have to live.

On the other hand, with noteworthy exceptions (such as Bill Gates), why do so many mega-wealthy people become obsessed with making more and more money? I can't imagine how another billion or two could bring more satisfaction than the first billion.

From what research I've read, money DOES buy happiness if you start out in poverty. Beyond a certain point, though, a fairly modest point at that -- forget what it was but maybe was $50K/year in like 2005 dollars -- it quits helping. At all.

In other words poverty, want, and ill health are good ways to get depressed and money can fix a lot of that, and so does improve outcomes. But at about the point you're thinking of a second car or a newer house, that quits helping.

Another correlation is between lack of self-determination or control over your life and depression. This is a completely separate phenomenon where higher-level employees (and therefore, higher paid) can have a better sense or meaning and purpose because the better-paid people are generally given freer reign, their suggestions are more likely to be listened to, they are more likely to have work-related friendships instead of toiling away unacknowledged in enforced silence, etc. But this comes from studies done in the UK civil service several decades ago, and since then, there's been some uneven movement toward "empowering" the rank-and-file. So the accurate thing to say is probably that a job that is less rote and soul-crushing, regardless of pay, would tend to make you happier. My guess is that there's still a slight correlation to higher pay there, but not enough to be a game changer.

For the most part being a poor person is a pain in the ass. I should have about 6 months or so to decide if I'm going to fix my car or find a different one. It's 16 years old but I still like it. I think overall it's still in pretty good shape so I may just fix it. Decisions, decisions.

Yes, not that wealth will make you happy but if your salary is commensurate with what you do for that salary you tend to feel rewarded for your efforts. From personal experience when people are working their butts off atta boys in lieu of a decent wage leads to poor work place morale. Any situation where you don't feel your efforts are appreciated evenutally gets you down. Happy workers tend to be happier at home. Having enough of a salary to afford the good things in life makes everything better. How much is enough is an individual issue. I get along just fine without a TV . . . . . . Some people are unhappy no matter how much they have. Having enough to meet you needs make you feel free, imo.

It would have to be an awfully large amount of money, because being in a position to give it away to good causes would be incredibly joyous to me.

I think it all depends on what you want in life. It's not just money, but what it can do. After your needs are met and you can live comfortably, you really don't need much. But if there's something you really want that will actually enrich your life or someone else's and not just get you more "stuff" -- ie, an education, travel, hobbies you enjoy, time spent with loved ones, donating to charities, etc. -- then having extra money for those things has real value.

Yes and yes. Its true you can be poor and happy but struggling paycheck to paycheck can be stressful and difficult and put a burden on your ability to be or stay happy. Money is not the key to happiness but if you are struggling to make ends meet, struggling to put food on the table, praying your car doesn't break down, going to work sick because you just can't afford to lose a days pay, then happiness becomes quick, fragile and fleeting. Enjoy the brief moments you have it.

I've seen very happy poor people and very rich sad people. there is a huge difference between rich and enriched.

Yup.

Deaton and Kahneman did a study that found that "everyday contentment" increases up to $75,000, but then starts to level off after that.

"Perhaps $75,000 is a threshold beyond which further increases in income no longer improve individuals' ability to do what matters most to their emotional well-being, such as spending time with people they like, avoiding pain and disease, and enjoying leisure," the authors write.

Two Nobel Prize winners figured out the perfect salary for happiness [read.bi] via @businessinsider

I agree with the observations and comment of so many that a certain level of income generates comfort and peace of mind and so supports life satisfaction. Most of us would love to be independently middle class and could be content--life satisfied. Beyond that it really depends on the individual and the motivators. Some people want more than a modest level of comfort and stability--they might need more than basic stability or other gratifications they attach to higher income.

The research on this shows that once people’s basic needs are met, there is not variation in happiness correlated with income. People might get a temporary happiness boost from an increase in income but tend to settle back to their “base” level.

For some definitely.
for many actually,
they took the blue pill.

No or little relation in my case. But a liar with money won't stop lying. I had seen very satisfied people without money and I had seen a lot of unsatisfied rich people. But if you are satisfied with what your life has become and you get paid well... making more money why will make you more satisfied? ...unless it is money what makes you satisfied. I know people with 200,000 plus annual salary and they are not happy and they love what they do. I know those in debt up to their noses. Money goes in, money comes out. I... money will never made me happy. I will never be satisfied with money. Its never been about money. Anybody can ask trump... do you think he is happy? Can he look straight at you and tell you he is satisfied!!! Seriously!!! But granted this is the 21st Century and Money is god. There is even money created that do not exist... bit coins. That is how ridiculously important money has become. Now we are putting monetary value at satisfaction.

I’m sure there is as people with money tend to be quite a bit happier and content.

No