(STUDY FINDS) – The old saying goes “money can’t buy happiness,” but a new study finds that’s not exactly true. Although previous studies find there’s a limit to how much a person’s income impacts their happiness, a researcher from the University of Pennsylvania says the sky’s the limit when it comes to money’s influence over well-being.
“It’s one of the most studied questions in my field,” says Matthew Killingsworth from Penn’s Wharton School in a university release. “I’m very curious about it. Other scientists are curious about it. Laypeople are curious about it. It’s something everyone is navigating all the time.”
Killingsworth’s study examined nearly two million data points from over 33,000 people; each providing a moment-to-moment snapshot of their daily lives. Other studies on income and happiness concluded that money stops mattering at around $75,000. The results of the new study, however, reveal that rising income continues to affect the earner’s well-being even into the hundreds of thousands of dollars.
