When it comes to money, there are a few famous sayings that describe that our rather complex relationship with it.
For example: ‘Money can’t buy you happiness,’ but at the same time, ‘I’d rather cry in my Ferrari than on a bus.’
We all know that money truly isn’t everything. Yet for many people, much of our life here is spent working for it, chasing after it, and jealousy hoarding it. So how much money do you actually need to be happy?
According to a well-known study in the U.S. by Angus Deaton, the 2015 Nobel laureate in economics, he found that the correlation between emotional wellbeing and annual income tops out at US$75,000. In other words, even if you earned a higher annual income, it wouldn’t make you any much happier. However, to put US$75,000 into context, that was more than double the U.S. median annual income in 2009 when the study was completed....