How Much Money is Enough Money? (2024)

Money. We all want it, we all need it, but does it actually make us happy? As someone who can’t imagine a life where I do not need to worry about it, I decided to do some digging. This is what I found.

First off, let’s dispel a common myth: more money makes you happier.

This is only true to a certain point. Research shows that people who earn more than $75,000 per year are generally happier than those who earn less. But once you reach that threshold, more money doesn’t really make a difference. You won’t be any happier if you make $250,000 than if you make $100,000.

So, how much is enough money? Well, that depends on your lifestyle. If you’re a minimalist like me who’s happy living in a tiny house and eating ramen noodles, you can get by on a lot less than someone who wants a big house and fancy cars. Generally, $100,000 per year is a good goal for most people. It’s enough to live comfortably, take vacations, and not stress out about paying the bills.

Of course, this is just a rule of thumb. If you live in a high-cost-of-living area like California or New York, you might need to make more than $100,000 to be comfortable. A lot more! And if you have a lot of debt, you’ll need to make more to pay it off. But the point is, once you have…