Comments by "Magic Beans" (@Magic_beans_) on "Yes Money Does Buy You Happiness - Even Beyond $75,000 Per Year! - How Money Works" video.

I’d also recommend the Whitehall Studies. They looked at British government workers (to normalize for workplace hazards and access to healthcare), and found that higher-income workers lived longer. One of their hypotheses was that higher-income workers (often being higher-ranking too) generally had more of a sense of control over their lives. You can call that happiness, but I’d say it’s more like stress relief. On the low end, just getting up to a living wage means you don’t have to do without necessities (pretty much by definition). Above that you can get out of debt and save for emergencies, which take a further load off. Then you get the nice-to-haves like a proper vacation. So it totally makes sense that there would be diminishing returns in that respect. The research on happiness finds that the same few things matter: meaningful personal connections and a sense that they’re doing something meaningful with their life. Money can’t buy that, it’s more a matter of having enough money to remove the obstacles.
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