The Pay Raise People Say They Need to Be Happy

From a Wall Street Journal story by Joe Pinsker headlined “The Pay Raise People Say They Need to Be Happy”:

People are often convinced their lives would improve if only they could climb a few rungs on the income ladder.

They are right, to an extent. Many studies have found a link between income and happiness, both in terms of day-to-day mood and longer-term life satisfaction. Having more money would help many people afford necessities, and on average, richer people report being happier.

Exactly how much more money do we think we need to be happy? A new survey from the financial-services company Empower put the question to about 2,000 people.