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Statistics show that people with comfortable or more incomes are generally happier than those on lower incomes.
According to the World database of happiness, as of 2015 the income for true happiness is upwards of $70,000 a year.
This article from the Telegraph.co.up actually supports the wealthier you are the healthier and happier you are.
“9/24/13 The fact is, the richer you are, the happier you are- Telegraph
We all know that money doesn’t buy happiness, don’t we? And yet, the Unity Church, and probably others, claim that poverty is a dis ease, a dis harmony within. Bob Proctor, often says that, you cannot help others that have no food or shelter with compassion and a hug when they need food and a decent place to live. How can anyone be happy with a hungry, growling belly and having to live in a cardboard box. Isn’t it wonderful that so many groups are getting people off the streets. Living in a tent in the city of Toronto in the middle of winter is only one tiny slight step up from sleeping on top of a grater in the sidewalk. Now groups are building tiny little homes for these people.
5:03PM GMT 05 Feb 2013
For years, many economists agreed, arguing that economic growth doesn’t generate more well-being
for ordinary folk, a conclusion which came to be known as Richard Easterlin’s paradox, after the
academic who first described it in the 1970s. Yet it turns out that once again the economics
establishment got it spectacularly wrong. see: http://www-bcf.usc.edu/~easterl/papers/Happiness.pdf (Insert link)
Economic growth – and the higher gross domestic product (GDP) per person and improved wages that
usually accompany it – does actually improve happiness and well-being, according to several recent
papers by top economists, drawing on far more data than their predecessors ever had access to and
using novel statistical techniques.
The truth, it turns out, is that the aspiring classes were right all along. The richer we are, the happier
we are. It’s (almost) that simple, and the evidence is now overwhelming.9/24/13 The fact is, the richer you are, the happier you are- Telegraph
One especially brilliant piece of research – by Daniel Sacks, Betsey Stevenson and Justin Wolfers, all
US academics – demonstrates that happiness improves as incomes rise. The paper shows that richer
citizens report higher well-being than their poorer compatriots, at any given point as well as over
time; that people in richer countries are happier than those in poorer countries; and that GDP growth
boosts well-being. Most remarkably of all, there is no maximum wealth threshold at which point
higher incomes cease to boost well-being: quite simply, the richer, the better, with no upper limit.
These findings are confirmed by an excellent paper from Ruut Veenhoven and Floris Vergunst. Using
statistics compiled as part of the World Database of Happiness (yes, there is such a thing), they
discover a positive relationship between GDP growth and improving happiness. GDP and happiness
have gone up in most countries, and average happiness has risen more in nations where the economy
has grown the most.
These results are devastating to the anti-growth crowd, including many environmentalists, and to those
who say that it is pointless, too stressful and unsustainable for countries to focus on boosting their
GDP, and who are thus secretly enjoying Britain’s current bout of stagnation. They should also shame
David Cameron, who famously wanted to replace a focus on hard-headed GDP with a softer emphasis
on a new measure of national well-being.
Separate research, by Jan Delhey and Christian Kroll, shows that traditional measures of economic
output, while crude, are actually “surprisingly successful at predicting a population’s subjective wellbeing”.
So there you have it: growth is good for us, not just in terms of creating jobs and allowing us to buy iPads, but also in promoting the conditions in which individuals and families can pursue their version of happiness.
This is also terrible news for one influential strand of thinking on the Left, which has long argued that
what makes people happy is not what they earn in absolute terms – and whether pay checks are going
up – but merely what they earn compared with others. These Leftist economists claim that people are
only happy if they feel richer than their neighbours. Such proponents of “happiness economics”
therefore argue that working harder to earn more is tantamount to running to keep still, because
everybody else is engaging in the same supposedly pointless race.
Frighteningly, they deduce from this false premise that the answer is to treat emotions such as envy
and jealousy as suitable grounds for confiscating incomes, and to tax higher earners much more
heavily, with French-style 75pc tax rates, to penalize those silly enough to want to get on in life.”
Not everyone desires to be fabulously rich, but having enough to live the comfortable life of your choice makes people much healthier and happier. This usually includes paying for your children’ s education, taking trips, good nutritious meals, supplements, trips to health care practitioners, enough to pay for your house and being able to have fun trips and outings with the family and a gala evening out with your partner.
Sitting down with pen and paper list your income and debts including mortgages, loans, etc. This can be most illuminating. Further to this list those things you want which would require a larger income, then decide do you really want to put forth the energy in order to earn it.
So you may well ask yourself and partner, how can I improve my financial status?