Author Topic: How Much Money Does it Take to Be Happy?  (Read 7451 times)

elmustacho

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How Much Money Does it Take to Be Happy?
« on: October 12, 2016, 10:23:48 AM »
Quote
The minimum personal income to be happy is $58,000 for Boomers and $51,000 for Millennials

From:http://www.businesswire.com/news/home/20160912005121/en/Money-Happy#.V9ashf6ECIk.twitter?platform=hootsuite

The article is another cringe worthy Olympics champ.

Lunasol

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Re: How Much Money Does it Take to Be Happy?
« Reply #1 on: October 12, 2016, 10:45:55 AM »
I guess I can't be happy if I make $50999

Shadow99

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Re: How Much Money Does it Take to Be Happy?
« Reply #2 on: October 12, 2016, 01:43:08 PM »
So a couple would have to make over $100k in either case? I think I could make that work.

RosieTR

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Re: How Much Money Does it Take to Be Happy?
« Reply #3 on: October 13, 2016, 05:36:40 PM »
Apparently GenX doesn't matter?

larmando

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Re: How Much Money Does it Take to Be Happy?
« Reply #4 on: October 14, 2016, 02:20:03 AM »
There are "some" excuses for that number though. Honestly if you ask the question "how much income you need to be happy" to the general population they will assume it's income *in exchange for work*, and having to save for retirement, buying a house, etc out of it. And of course it's going to be a higher number than what people make because everybody assumes they're going to be happier if they earn more. :)

marty998

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Re: How Much Money Does it Take to Be Happy?
« Reply #5 on: October 14, 2016, 04:32:12 AM »
Apparently GenX doesn't matter?

No. They don't.

;)

(Curious to know why nothing is ever written about Gen X...)

plainjane

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Re: How Much Money Does it Take to Be Happy?
« Reply #6 on: October 14, 2016, 04:56:14 AM »
Apparently GenX doesn't matter?

No. They don't.

;)

(Curious to know why nothing is ever written about Gen X...)

It's a smaller cohort than the Boomers or Millennials.  Boomers have lots of money to spend.  Millennials are setting up households, so they are spending lots of money. So the advertisers don't really care about GenX to the same extent, and the content follows.

JG in Hangzhou

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Re: How Much Money Does it Take to Be Happy?
« Reply #7 on: October 17, 2016, 06:54:36 AM »
Apparently GenX doesn't matter?

No. They don't.

;)

(Curious to know why nothing is ever written about Gen X...)
Gen X is not real.  We don't exist.  We are shadows that don't spend money.  Therefore we are ignored by all marketing organizations, and since nobody talks about us, scientists dont know if we exist.  Even worse for Gen Y. They only existed for about 1 year.

MgoSam

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Re: How Much Money Does it Take to Be Happy?
« Reply #8 on: October 17, 2016, 08:49:29 AM »
I believe the correct answer is precisely one dollar more than one's wife's sister's husband makes.

jinga nation

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Re: How Much Money Does it Take to Be Happy?
« Reply #9 on: October 17, 2016, 09:27:55 AM »
Zero, for me.
If I spend money for something to make me happy, then I have expectations of that purchase.
If purchase doesn't live up to expectations, I get angry that this was a bloody waste of money.
When I'm angry, I'm in a foul mood. That means wifey ain't happy. And then kids are mad there's no fun dad.
Don't want to let the kids down, so don't piss your hard-earned money away.
Think about the kids.
Or the terrorists will win.

Making Cookies

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Re: How Much Money Does it Take to Be Happy?
« Reply #10 on: October 17, 2016, 10:15:24 AM »
Enough money that there is no debt and to fund retirement savings. No debt makes DW and I very, very happy.

The first time after our debt was gone that we listened to someone relate a story of financial hardship b/c they had no savings (they spent their savings on shopping for fun) and had some unexpected thing pop up in their life - we were very happy knowing we could deal with that item from savings if it happened to us. That feeling of freedom often mentioned here.

ketchup

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Re: How Much Money Does it Take to Be Happy?
« Reply #11 on: October 17, 2016, 10:26:24 AM »
Well shit, guess I'm unhappy and didn't even know it. :)

We make over median as a household, and apparently that's not enough to be happy?  What a terrible country.

Shor

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Re: How Much Money Does it Take to Be Happy?
« Reply #12 on: October 31, 2016, 04:15:45 PM »
I believe the correct answer is precisely one dollar more than one's wife's sister's husband makes.
Haha ain't that the truth!

Or, if you're at an earlier stage in life, $1 more than your soon-to-be mother-in-law's frenemy's son's salary.... Grrr!

russianswinga

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Re: How Much Money Does it Take to Be Happy?
« Reply #13 on: October 31, 2016, 04:44:09 PM »
$30K/ yr for me and my wife (Assuming no outstanding debts and all mortgages paid off). This will get us quite a lot where we want to retire: http://forum.mrmoneymustache.com/throw-down-the-gauntlet/retiring-in-montenegro/
It will also allow us to travel the world up to 50% of the year.
The total net worth number to make that happen with a 90%+ success rate on firecalc.com is about $700,000, or 750K if we want to be really safe.

Crusader

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Re: How Much Money Does it Take to Be Happy?
« Reply #14 on: December 05, 2016, 10:00:19 AM »
For me I have to say $60k after tax is a good minimum that allows a very wide comfortable margin to enjoy life and save aggressively. I know most people so far here have said that is too much, but on the other hand like I said it allows a very luxurious journey with plenty of income to save. So the journey to FIRE will be very comfortable not "depriving". I like wide margins, but that is just me. I am not asking much with this stated income, easily attainable and easy to work within.

mm1970

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Re: How Much Money Does it Take to Be Happy?
« Reply #15 on: December 05, 2016, 10:23:13 AM »
Apparently GenX doesn't matter?
Apparently we're boring?  Not just getting started, not near retirement.  Just worker bees in mid-life.

TheGrimSqueaker

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Re: How Much Money Does it Take to Be Happy?
« Reply #16 on: December 05, 2016, 12:17:19 PM »
Apparently GenX doesn't matter?
Apparently we're boring?  Not just getting started, not near retirement.  Just worker bees in mid-life.
Also, mathematically speaking, there were never as many of us to begin with.

Playing with Fire UK

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Re: How Much Money Does it Take to Be Happy?
« Reply #17 on: December 05, 2016, 01:10:25 PM »
I believe the correct answer is precisely one dollar more than one's wife's sister's husband makes.
Haha ain't that the truth!

Or, if you're at an earlier stage in life, $1 more than your soon-to-be mother-in-law's frenemy's son's salary.... Grrr!

This, and if the frenemy is exaggerating there is no helping you.

Daisy

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Re: How Much Money Does it Take to Be Happy?
« Reply #18 on: December 05, 2016, 07:05:17 PM »
Apparently GenX doesn't matter?
Apparently we're boring?  Not just getting started, not near retirement.  Just worker bees in mid-life.
Also, mathematically speaking, there were never as many of us to begin with.

I've lamented before the plight of us Gen X ers. We are the forgotten generation...the middle children who are ignored.

http://m.huffpost.com/ca/entry/5239628

boarder42

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Re: How Much Money Does it Take to Be Happy?
« Reply #19 on: December 06, 2016, 08:01:17 AM »
Apparently GenX doesn't matter?

No. They don't.

;)

(Curious to know why nothing is ever written about Gen X...)
Gen X is not real.  We don't exist.  We are shadows that don't spend money.  Therefore we are ignored by all marketing organizations, and since nobody talks about us, scientists dont know if we exist.  Even worse for Gen Y. They only existed for about 1 year.

if you're 35 you're practically a millenial maybe 1 year off

MrMoogle

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Re: How Much Money Does it Take to Be Happy?
« Reply #20 on: December 06, 2016, 01:58:54 PM »
Apparently GenX doesn't matter?

No. They don't.

;)

(Curious to know why nothing is ever written about Gen X...)
Gen X is not real.  We don't exist.  We are shadows that don't spend money.  Therefore we are ignored by all marketing organizations, and since nobody talks about us, scientists dont know if we exist.  Even worse for Gen Y. They only existed for about 1 year.

if you're 35 you're practically a millenial maybe 1 year off
35 is the number of his posts, not his age :P
35 is a millennial  Born from 1980-2000

JG in Hangzhou

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Re: How Much Money Does it Take to Be Happy?
« Reply #21 on: December 13, 2016, 05:11:56 AM »
Apparently GenX doesn't matter?

No. They don't.

;)

(Curious to know why nothing is ever written about Gen X...)
Gen X is not real.  We don't exist.  We are shadows that don't spend money.  Therefore we are ignored by all marketing organizations, and since nobody talks about us, scientists dont know if we exist.  Even worse for Gen Y. They only existed for about 1 year.

if you're 35 you're practically a millenial maybe 1 year off
35 is the number of his posts, not his age :P
35 is a millennial  Born from 1980-2000
MrMoogle is right.   If I were a millenial, then I would post my age.   Gen Xers are also ageless, hence we don't post our age.   Thanks for stepping in on my behalf!  Away for the posts for a bit...

MrsPete

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Re: How Much Money Does it Take to Be Happy?
« Reply #22 on: December 13, 2016, 11:47:16 AM »
[
Quote
The minimum personal income to be happy is $58,000 for Boomers and $51,000 for Millennials

From:http://www.businesswire.com/news/home/20160912005121/en/Money-Happy#.V9ashf6ECIk.twitter?platform=hootsuite

The article is another cringe worthy Olympics champ.
It is a whiney article, like so many others.  I do agree with it in one sense though:  Within the same generation, it compares Savers vs. Spenders.  In any generation you can find people who are "making it" and people who aren't doing well.  They're living through the same generational experiences, yet they weather the storms differently. 

As for how much money it takes to be happy, I don't think you can quantify it because costs of living are different ... but I think you do need enough to manage adequate housing, health care, food, and other necessities.  Not many of us are going to be happy if our basic needs aren't being met. 

Apparently GenX doesn't matter?
Did we ever?  We're not as numerous and don't stand out like the Boomers.  We're not as whiney as the Millennials.  We're rather invisible, and we really don't care about having a group identity in the way that those groups who bookend us do. 

I guess I can't be happy if I make $50999
Maybe you'd find a $1 coupon? 
« Last Edit: December 13, 2016, 11:54:56 AM by MrsPete »

Playing with Fire UK

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Re: How Much Money Does it Take to Be Happy?
« Reply #23 on: December 15, 2016, 01:40:24 AM »
It is a whiney article, like so many others.  I do agree with it in one sense though:  Within the same generation, it compares Savers vs. Spenders.  In any generation you can find people who are "making it" and people who aren't doing well.  They're living through the same generational experiences, yet they weather the storms differently. 

As for how much money it takes to be happy, I don't think you can quantify it because costs of living are different ... but I think you do need enough to manage adequate housing, health care, food, and other necessities.  Not many of us are going to be happy if our basic needs aren't being met. 

I also have one point of agreement with the article; while it is ridiculous to say that there is a 'minimum' income for happiness, there is an income and spending level at which you don't need to worry about money all the time, and a further income and spending level at which you can solve all problems that can be solved with money. Both of these can have an impact on your happiness, but you can be happy or miserable at any income level.

Renegade23

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Re: How Much Money Does it Take to Be Happy?
« Reply #24 on: December 15, 2016, 12:13:29 PM »
It would only take me $.46. See the quote below from another thread.

"Like a Keurig coffeemaker, the Pulse (“a whole new way to warm your world”) only takes “Pulse pods,” tiny plastic containers of lube that run $25 for a set of six. Right now, the company is only selling silicone-based lube, a no-no for people who use silicone toys, though water-based lube is in the works for the spring. Each pod contains nine squirts of lube, meaning each squirt costs about 46 cents. Can you put a price on warm, cozy genitals, though? Can you?"

Davids

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Re: How Much Money Does it Take to Be Happy?
« Reply #25 on: December 15, 2016, 12:47:50 PM »
I am surprised it is actually that low. I would have thought at least $75K.

clarkfan1979

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Re: How Much Money Does it Take to Be Happy?
« Reply #26 on: December 26, 2016, 11:09:41 AM »
I will be happier if I make 10% more than whatever my current salary is at.