New study finds higher happiness in people making more money
“In the simplest terms, this suggests that for most people larger incomes are associated with greater happiness,” Matthew Killingsworth, said in a story published by Penn Today.
In a new study by two prominent researchers, Daniel Kahneman and Matthew Killingsworth, it was found that more money was associated with higher happiness.
“In the simplest terms, this suggests that for most people larger incomes are associated with greater happiness,” Matthew Killingsworth, said in a story published by Penn Today.
In their joint study published this month in the Proceedings of the National Academy of Sciences, the researchers surveyed 33,391 adults aged between 18 and 65 who live in the United States, are employed and report a household income of least $10,000 a year.
The research measured the happiness levels of participants by asking them to report on their feelings at random intervals in the day via a smartphone app developed by Killingsworth called Track Your Happiness.
The researchers said that the breakthrough came when they compared the 2010 data, where happiness plateaued. “Once you recognize that, the two seemingly contradictory findings aren’t necessarily incompatible,” Killingsworth said.
“From thinking about tax rates and employee compensation to how people navigate their careers and weigh income against other life priorities, the findings have real-world implications.
In a statement, Killingsworth said that he believed that money isn’t everything, but just one of the many determinants of happiness. “Money is not the secret to happiness, but it can probably help a bit,” he concluded.
