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http://www.theregister.co.uk/2010/09/07/happiness_threshold/

US researchers have found that happiness can be yours for an income of $75k a year (or £48,814.44 as of this morning), although trousering more than that won't necessarily increase your joie de vivre.

Professor Angus Deaton, an economist at the Center for Health and Wellbeing at Princeton University, and Nobel Prize winning psychologist Professor Daniel Kahneman looked at surveys of 450,000 Americans carried out in 2008 and 2009 for the Gallup-Healthways Well-Being Index, which quizzed respondents on their day-to-day happiness and overall life satisfaction.

They found that people's happiness increased steadily as income rose to $75,000, but then levelled out. Their sense of success or well-being did, though, continue to rise beyond that figure.

Beyond £50K, all those hours at the office and all you are getting is older.

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Wonder how many people in the UK will be on £48k by next year. Not many I would guess. Half this figure is average wage I think and even 24k looks like a good wage these days.

It's all gone to hell....society that is. :0

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I think it depends largely on where you live as well.

50k out in deepest wales is probably a lot of money, but for example in London it's not really all that much, IMO.

Also, I don't subscribe to the theory that money necessarily brings happiness anyway. Most well paid people I know are right miserable sods.

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The biggest jump I ever had in 'financial satisfaction' was when I reached my first £1000 in a savings account.

Until the age of about 24, I lived month to month, had debts, borrowed from family etc.

When I changed the habits and knew that I could always get £20 out of the cash machine to go to the pub and cover lifes essentials without worrying, this was like a revelation. A million little worries dissapear with such a small amount of money in your account.

After that, I guess reaching something like £5000 gives you a bit of a boost in satisfaction once you realise you can live for 2 or 3 months without a job, or if a real crisis hits.

Anything after it has just really been a number on a statement. There's a bit of a motivation gap in that you could have thousands in the bank and earn £50k+, but you are still not well off enough to buy the house and the BMW that a much poorer person is driving by virtue of their HPI luck.

Edit - On second read, I see the study is about monthly salaries, but I don't think monthly income really adds to any sense of satisfaction as much as the security of having a bit of savings.

Edited by Kyoto

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The biggest jump I ever had in 'financial satisfaction' was when I reached my first £1000 in a savings account.

Until the age of about 24, I lived month to month, had debts, borrowed from family etc.

When I changed the habits and knew that I could always get £20 out of the cash machine to go to the pub and cover lifes essentials without worrying, this was like a revelation. A million little worries dissapear with such a small amount of money in your account.

After that, I guess reaching something like £5000 gives you a bit of a boost in satisfaction once you realise you can live for 2 or 3 months without a job, or if a real crisis hits.

Anything after it has just really been a number on a statement. There's a bit of a motivation gap in that you could have thousands in the bank and earn £50k+, but you are still not well off enough to buy the house and the BMW that a much poorer person is driving by virtue of their HPI luck.

Edit - On second read, I see the study is about monthly salaries, but I don't think monthly income really adds to any sense of satisfaction as much as the security of having a bit of savings.

That was the one for me.

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That was the one for me.

May just be me, but I really think it's the security that brings 'satisfaction'. Earning money allows you to buy more crap, which is nice sometimes, but it just doesn't seem to add any to the happiness bank in the same way.

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Also, I don't subscribe to the theory that money necessarily brings happiness anyway. Most well paid people I know are right miserable sods.

No but it buys a lot of comfort and removes a lot of worry from your life.

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Don't forget this is in a country which until recently has had no free healthcare and the welfare system is nowhere near as lenient as it is in Europe

Happiness here equates to releasing equity on your overpriced house or living off the state, and similar, anything in which you can get something for nothing

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Also, I don't subscribe to the theory that money necessarily brings happiness anyway. Most well paid people I know are right miserable sods.

I think it depends upon the mental attitude of the person who is in possession of the money. Some people love money (or wealth) for the sake of it. Personally I equate money with a certain level of freedom and the ability to make choices. I could never understand why people who had say £1million+ in the bank still worked hard. They obviously have some kind of psychological flaw that meant they needed the stress / admiration that they perceived came with their high profile job.

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For me it's having somewhere to live where I can get peace and quiet, a good night's sleep, where the air is clean, and the water on tap. Everything else is secondary.

I think the nearest I've come to that was when I lived in Germany. On the ninth floor of a tower block built to German standards.

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I think it depends where you live, down here in the SE it is a good wage but quite a few people earn that sort of money, we have a good income but no kids and we do everything we want to do but throw kids in the mix I am not sure that £50k in the SE would be enough or maybe it would, not sure.

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$75k may be £50k in straightforward exchange terms but you get a whole lot more for your money in the US. I'd say like for like, so £75k would be more like it.

£65K? - US health insurance genuinely as bulletproof as the NHS is big money, maybe $1000pcm.

That aside yes generally £=$ e.g. good sized house on 1/2 acre in a pleasant state c. $300,000, 2010 luxury sedan $20,000.

Try not to think about it - too depressing.

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50k out in deepest wales is probably a lot of money, but for example in London it's not really all that much, IMO.

It's not much in Wales if you were hoping to buy a house with it.

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My wife and I get 20k between us and save 10k of that. We are 'happy.'

How on earth do you manage to live on 10k a year? Our rent, rates and utilities is way in excess of that and that's before you start adding on luxuries like food.

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I live in the South East and earn 50k, I would say I feel fairly well off, but certainly not wealthy.

I can probably afford a decent 2 bed flat on that money, or a decent 2 bed end terrace which is all I want.

It's very satisfying having savings, and it feels like a good security blanket to have, but I'll be damned if I use it if I lose my job, I've paid tens of thousands in tax and so called social security, and I'll be damn well sure I will get my rent paid and as many benefits as I can whilst I look for another job before hitting my savings.

I have about 15k in the bank and am looking to buy when I get to 20 over the coming months, though that may be when the actual HPC waiting begins in earnet for me, i.e. I actively choose not to buy rather than just cannot buy due to not enough savings as is presently the case.

On my 50k, if I opted not to save, I could rent a penthouse apartment in the best part of town and drive an M3, but as I'm just the wrong side of 30, I really need to focus on the whole saving and mortgage stuff.

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Income Tax, NI and Council Tax on 50K a year would be about 18K would it not?

How someone could be happy giving that amount of money to lazy, lying, cheating, devious *****s is beyond me.

Edit: im working offshore avoiding such theft which makes me happy!

Edited by BuyInOxford

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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