Money really does buy happiness

Can money improve your emotional well being? It can, but don’t expect much after you crack the $75,000 mark, says a Princeton University study.

Read: Be happy with what you’ve got

Researchers “analyzed over 450,000 responses to a daily survey of 1,000 randomly selected U.S. residents and found that while life evaluation rose steadily with annual income, the quality of the respondents’ everyday experiences did not improve beyond approximately $75,000 a year…. As income decreased from $75,000, respondents reported decreasing happiness and increasing sadness and stress.

The data suggest that the pain of life’s misfortunes, including disease, divorce, and being alone, is exacerbated by poverty,” according to the report.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.