The Magic Income Number

Perhaps money can buy happiness, after all:

What’s the magic income number? According to Angus Deaton and Daniel Kahneman, it’s about $75,000, at least when it comes to day-to-day happiness. “As people earn more money, their day-to-day happiness rises,”reports The Wall Street Journal. “Until you hit $75,000. After that, it is just more stuff, with no gain in happiness.” Income above $75,000, however, does improve people’s overall “life assessment.” 

–From the Freakonomics Blog