Financial happiness starts at $85,000 per year - Business Insider

Financial happiness starts at $85,000 per year

1/27/2021 4:31:00 PM

Financial happiness starts at $85,000 per year

Business Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.

, drew on 1.7 million experience-sampling reports from 33,000-plus employed US adults using the iPhone app Track Your Happiness. Developed by former software product manager and Wharton fellow Matthew Killingsworth, the app analyzes the relationship between income and happiness by randomly asking users to log their activities and feelings.

Trump Secretly Received Covid-19 Vaccine Before Leaving White House Canadian man who used rental van to run down pedestrians found guilty of first-degree murder Study: Employment rose among those in free money experiment

The study revealed that the turning point for financial happiness is an income of $85,000. Those earning less than that are less happy on average than the overall average happiness, while those earning over $85,000 are happier. The study measured happiness in two ways: evaluative, looking at life satisfaction, and experienced, looking at feelings. Happiness increased pretty steadily as income increased in both cases, but significantly more so for life satisfaction than for feelings. 

Read more: Business Insider »

Camila Cabello on Providing Mental Health Support for Activists: ‘Heal Yourself Before You Heal the Community’

'When you're struggling or feeling burnout, it's hard to show up for other people,' says the star, one of PEOPLE's Women Changing the World

TLDR; In the US in 2010, you needed $75,000 to be happy($90,000 adjusted for inflation). A new study finds that $85,000 is the turning point.