David Lee Roth once said, “Money can't buy you happiness, but it can buy you a yacht big enough to pull up right alongside it.” Over the past year a number of studies have been released that may prove the former Van Halen front man just might - up to a point - be right.
Most noteworthy is a study released last year from Princeton University’s Woodrow Wilson School which claims that up to a point, increased income can indeed make an individual happier. The authors of the Princeton study analyzed the responses of 450,000 Americans polled by Gallup and Healthways in 2008 - 2009 and concluded that for individuals with incomes of less than $75,000 per year, an increase in income did lead to improved day-to-day happiness. Above $75,000 however, the correlation between increased income and improved daily happiness went away.
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