Several years ago, we published a Newsletter on this topic which discussed a study that found that happiness does not improve beyond an amount of income necessary to pay for all of one’s normal living expenses (at that time, $75,000 per year, and a later study increased this amount somewhat). You can find that prior Newsletter here: https://morgandisalvo.com/can-you-buy-happiness/.
However, since that time, another study came out that found otherwise, and a third study came out that attempts to reconcile the two studies that had seemingly opposite findings. We are sending out this Newsletter to provide what we think is a must see YouTube video for anyone that cares about this topic, i.e., cares about your own happiness over the rest of the time you have on this earth. Please watch to the end because it deals with life’s journey as happiness may be low or high over time and how it is not over until it is over.
The bottom line most important factors of happiness seem to be lifelong exercise (leads to better physical and mental health), relationships (not being lonely, and lonely does not mean you are single and live by yourself), and having sufficient funds (not the need to consider yourself wealthy, but enough to deal with your normal expenses and the ability to increase your happiness with more funds IF you also have the other important factors).
We hope you enjoy the YouTube video, which is here: https://youtu.be/vSQjk9jKarg?si=jCdoHO6NglZtKAe4.
The estate planning attorneys at Morgan & DiSalvo, P.C. are available to advise clients on the best estate planning options available. Please call us at (678) 720-0750 or e-mail us at email@example.com to schedule a consultation. We look forward to meeting you.