STUDIES show that for most people, happiness increases steadily as income rises and can even accelerate at higher earnings. For a small cohort of chronically unhappy people, money increases happiness but then plateaus completely. Research indicates that up to 74% of the link between money and happiness is driven by a greater sense of life autonomy and freedom from daily stress. Wealth brings happiness up to a certain point by removing financial stress and meeting basic needs. However, beyond achieving security, more money has a smaller impact and true well-being depends more on personal relationships, health and a sense of purpose. Money pays for food, housing and medical care, which lowers daily worry. Having savings give you choices and safety when unexpected problems happen. Income has the strongest and most direct impact when lifting individuals out of poverty, where money solves basic safety and survival challenges. However opinions are mixed, with users noting that while day-to-day emotional well-being can level off at higher brackets, overall life evaluation and satisfaction continue to scale with wealth.

Wealthy people may be happier. But a new study finds that money can’t buy a sense of purpose. New research report published in a journal “Emotion” by Aaker and her colleagues, they not only challenge the assumption that happiness is binary but also find that the relationship between happiness and our sense of meaning can change depending on our financial situation. In another interesting research by a Professor at Stanford Graduate School of........

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