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How Much Money do You Need to be Happy?

It’s said that money can’t buy happiness. But a new study seems to indicate that happiness requires about $75,000 a year. The lower someone's annual income falls below that amount, the unhappier he or she feels.

On the other hand, no matter how much more than $75,000 someone makes, they don't report any greater degree of happiness.

According to Time Magazine:

“... [T]he study points out that there are actually two types of happiness ... changeable, day-to-day mood ... [and] the deeper satisfaction you feel about the way your life is going ... While having an income above the magic $75,000 cutoff doesn't seem to have an impact on the former (emotional well-being) ... the more people make above $75,000, the more they feel their life is working out on the whole.”

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