Can money buy happiness? Here’s what studies reveal

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The researchers found a significant impact on self-evaluation, suggesting that individuals with more money tend to have a more positive self-perception. Emotional well-being also rises with income but only up to an annual salary of $75,000 ($90,000 adjusted for today, which is roughly Rs 74 lakhs). Beyond this point, higher salaries do not significantly contribute to the happiness index, indicating a limit to the relationship between money and well-being.

However, there are contradictions in these findings. Killingsworth’s 2021 study suggested a positive impact of money on happiness up to an income of $500,000 (roughly Rs 4 crores). Yet, individuals with salaries exceeding $100,000 (roughly Rs 83 lakhs) may not experience an improvement in well-being despite increased wealth.

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