I know, I know. We’ve all heard the phrase, “Money can’t buy you happiness.”
Or its cousin, “You can’t take it with you.”
Can you spot the psychological flaws in those quotes? They’re designed to make you feel satisfied with where you are because, of course, “money can’t make you happy.”
Recently, the internet decided to quote a popular study that supposedly found money makes us happy up to $75,000, then it levels off.
Guys — PLEASE STOP QUOTING THIS STUDY WITHOUT READING IT!
Does it even make any sense? $75,000 in Nebraska is completely different than Manhattan. It doesn’t even pass the sniff test! Yet every Twitter genius is out there quoting this study over and over.
In reality, the 2010 study by Deaton and Kahneman found that “emotional well-being” peaks at $75,000. But if you take another measure, “life satisfaction,” you find no plateau — not at $75,000, or $500,000, or even $1 million.
That's right — money CAN buy happiness.
I know how weird that can sound, but it's true. And if you're willing to test it, you may be surprised by the results.