Study Finds Cost of Happiness is $75,000

3:13 pm Uncategorized

While money may not be able to buy happiness, there is a certain amount that those who are at or above that sum are happier than those who are below it, according to a study by Princeton University researchers.

The happy number is $75,000 a year.

By analyzing almost a half million responses of randomly selected adults to a Gallup survey sponsored by Healthways Corporation, Princeton researchers found that that positive emotions rose along with annual income until the $75,000 mark, where it then leveled off.  In addition, negative emotions increased as income dropped below $75,000.

The study showed that higher income beyond $75,000 was “neither the road to experienced happiness nor the road to the relief of unhappiness or stress.”

Happiness in retirement is also dependent on income, and it takes a skillful combination of estate planning and asset protection strategizing to ensure that you will be able to maintain a good quality of life in retirement.

Women especially need to pay careful attention to retirement planning, since statistically they live longer, make less and take time out during peak earning years to care for children.  Retirement planning for women should commence early, experts suggest, and should include a variety of estate planning strategies to maximize retirement income.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

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