Comments on: The New Research on Income and Happiness https://clippingchains.com/2021/06/21/the-new-research-on-income-and-happiness/ Funding the Adventurous Life Mon, 21 Jun 2021 19:01:24 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Mr. Clipping Chains https://clippingchains.com/2021/06/21/the-new-research-on-income-and-happiness/#comment-1927 Mon, 21 Jun 2021 19:01:24 +0000 https://clippingchains.com/?p=7308#comment-1927 In reply to Phillip.

All good observations. This study only surveyed employed individuals, so retirees would not be considered. Someone with a high NW but low income would likely only represent a tiny sliver of a representative population, so I’m not sure there are enough of us to materially change the results here. I would like to see a study of NW (instead of income) versus happiness.

]]> By: Phillip https://clippingchains.com/2021/06/21/the-new-research-on-income-and-happiness/#comment-1926 Mon, 21 Jun 2021 18:35:20 +0000 https://clippingchains.com/?p=7308#comment-1926 One thing I don’t like about this study is that it does not incorporate the net worth of the household. If my NW is say $5M and I’m doing low income work that I enjoy or retired, then I don’t think these folks are properly reflected in the study. But this seem to be what financial blogger say is “winning the game” and would yield some of the highest happiness “scores”. It would be great to see a large sample set of households that validate this goal does indeed yield higher happiness and is worth pursuing.

Another factor I think would be useful is wealth growth and income growth. People are happy when they feel progress is being made. Knowing you are moving forward towards hitting your goal improves happiness IMO.

Sure, this data is harder to get so IMO, the researchers used data that’s easy to get but not as telling.

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