Q: Can money buy happiness?
Research shows that money makes you happy and you generally get happier with more money until you reach an ideal income point is $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being after which diminishing returns seem to kick in.
The sweet point for money/happiness is around $80,000 per year.
The poor worry about the basics of life.
- Good education
- Sanitary environment
Rich people also have problems:
- Poor relationships
Different folks, different strokes.
IMO, it is better and easier to face rich people (first world) problems than the problems poor people contend with every day. Money gives the ability to solve some important problems and to buy some happy moments. Travel, experiences, and the ability to meet the needs of the closest people to me are key happiness factors for me.
That's why I work hard.
I know someone who paid $25k for his mom's glaucoma eye surgery. He took her to the best eye doctor in America. Today she has 20/20 vision while her friend with the same illness is blind. That made him very happy.
I know someone who had a major health scare in January 2019. He went to one of the best surgeons at John Hopkins in Baltimore and he is happy to be alive today.
I know someone who pays for business class tickets just because sitting for a long flight bothers him and he can sleep in BA Club World. Business-class trips make him happy.
Money can buy comfort and happiness. But it should never be seen as a god. Money can't buy health, money can't buy a loving home, money can't buy people who genuinely love you, and money can't buy peace of mind.
But it can definitely buy happiness.