What's the real link between income and well-being?


by Amparo C. on Dec 18, 2014 | Views: 282 | Score: 3
very happyfairly happynot too happy
less 10k354421
10k-20k424215
20k-30k43525
30K-40k55414
40k-50k46469
50k-75k55405
75k-100k60364
100k-150k60400
150k-250k70300
250k-500k83170
more 500k10000
% of US population
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Amparo C.
Amparo C. on Nov 12, 2014 12:38 PM said:

The idea that there is some critical level of income (once 'basic needs' have been met), beyond which income no longer improves well-being has been argued by scholars, and is intuitively appealing. However, a recent study shows that data does not support this commonly made claim. Their results suggest that subjective well-being increases with income, and that this effect does not diminish as income rises. Discrepancy with previous studies may be a consequence of employing different measures of well-being.

Amparo C.
Amparo C. on Dec 18, 2014 2:53 AM said:

Note that although 100% of those with incomes >500k reported being "very happy", there were only 8 individuals in this category (out of a total of 1,014 participants).

Christian Stellakis
Christian Stellakis on Jan 11, 2015 9:14 PM said:

This is honestly a very surprising result. Like you said, it is a very intuitive and appealing idea that after a certain income level, an individual's subjective happiness would level off. With that being said, though, financial difficulties often account for a large degree of stress, so I can see how the progressive elimination of such problems would only serve to increase happiness.

favorite of LoLy G.