Study Finds that Money Can Buy Happiness

Study Finds that Money Can Buy Happiness

A new study has found that, for people over 30, “the correlation between income and happiness has steadily risen over the years.” This according to an article in The Seattle Times.

The study sourced data from the General Social Survey, “one of the longest-running national representative surveys of U.S. adults, with 44,198 participants between 1972 and 2016.” Respondents were divided into quintiles and deciles based on income.

The research results challenge those supported by other studies, including “a widely cited Princeton University report showing that at levels higher than $75,000, a rise in income is not associated with greater happiness.”

The GSS study “found no evidence that happiness tapers off after a certain income point,” the article says, adding that the report notes the decrease in happiness among lower-income individuals could be a result of “rising inequality, skyrocketing real estate values, and decreased ability to pay for education.”