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How Much More Money to Be Happy?

About seven in ten respondents in a survey said they strongly or somewhat agreed with the statement: “Having more money would solve most of my problems.” Similar proportions of people in each income bracket felt that way, including those with salaries of $200,000 or more.

Exactly how much more money do we think we need to be happy? A survey from the financial-services company Empower put the question to about 2,000 people.

In the survey, most people said it would take a pretty significant pay bump to deliver contentment. The respondents, who had a median salary of $65,000 a year, said a median of $95,000 would make them happy and less stressed. The highest earners, with a median income of $250,000, gave a median response of $350,000.

Even very wealthy people think like this. A 2018 study asked millionaires to rate their happiness on a scale from one to ten and, if they didn’t say ten, predict how much money they would need to move one point higher. Slightly over half of those with a net worth of $10 million or more said their wealth would need to increase by at least 50%.

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