For folks making less than that, said Angus Deaton, an economist at the Center for Health and Wellbeing at Princeton University, "Stuff is so in your face it's hard to be happy. It interferes with your enjoyment."
Deaton and Daniel Kahneman reviewed surveys of 450,000 Americans conducted in 2008 and 2009 for the Gallup-Healthways Well-Being Index that included questions on people's day-to-day happiness and their overall life satisfaction. Happiness got better as income rose but the effect leveled out at $75,000, Deaton said. On the other hand, their overall sense of success or well-being continued to rise as their earnings grew beyond that point.
"Giving people more income beyond 75K is not going to do much for their daily mood ... but it is going to make them feel they have a better life," Deaton said in an interview.
Not surprisingly, someone who moves from a $100,000-a-year job to one paying $200,000 realizes an improved sense of success. That doesn't necessarily mean they are happier day to day, Deaton said. The results were similar for other measures, Deaton said. For example, people were really happier on weekends, but their deeper sense of well-being didn't change.
Kahneman, a Nobel Prize winning psychologist, and Deaton undertook the study to learn more about economic growth and policy.
Some have questioned the value of growth to individuals, and Deaton said they were far from definitively resolving that question. But he added, "Working on this paper has brought me a lot of emotional well-being. As an economist I tend to think money is good for you, and am pleased to find some evidence for that."
Overall, the researchers said, "as in other studies of well-being, we found that most people were quite happy and satisfied with their lives."
Comparing their life-satisfaction results with those of other countries, the researchers said the United States ranked ninth after the Scandinavian countries, Canada, the Netherlands, Switzerland and New Zealand.
The research was supported by the Gallup Organization and the National Institute on Aging.
Join Us
Fall Meeting October 30 -31 & Novermber 1 - 2 , 2010
We welcome anybody that wants to start a Withdraw Center or wants to join the Oregon Coastal Center. There are no dues, fees or costs.
We will be holding two identical Sessions this fall. One session on the weekend and one during the week. Both Sessions will be about our experiences with our Peaceful Preparer Center, our plans, our dreams, our fears, and brainstorming.
There is no charge for either Session if you provide your own lodging. If you want to stay at the meeting resort, the following is the pricing for Eagle Crest lodging.
We ARE NOT “back to landers.” We do not want the hardships of homestead. Instead, we like our comforts and are willing to prepare for them to continue. That is why we have picked the Eagle Crest Resort for our First Annual Fall Meeting. The Eagle Crest Resort has all the comforts you want in a resort. Just check the features of Eagle Crest Resort
If two people want to share a bedroom, then both can attend the Sessions with no additional fees. The bedrooms vary with king size beds, queen size beds and twin beds.
The early bird gets their choice.
Session # I - October 30 - 31, 2010 2 nights ($100/night*) - Starts on Friday night October 30 at 7 pm and last until 11 am on Sunday November 1, 2010.
Session #2 - November 1 - 2, 2010 - 2 nights ($100/night*) - This part starts on Sunday night and 7 pm and last until Wednesday at 11 am.
*Lodging Scholarships are available.
The above fees include lodging at the Eagle Crest at Redmond, Oregon (11 miles from Bend, Oregon)
