During the previous months, I have been pondering many questions related to happiness, quality of life and money; questions like how much money to save, how much money to spend on pleasures, and how much money to save to have real impact on savings.
As I am getting older, one of the biggest lessons that I have learned that it is important to be happy than to have more money. This has helped me set priorities in life and I think I am much happier than I was 10 years ago in a 9 to 5 job making a ton of money but living through enormous stress and long working hours.
Turns out someone has actually done some research that once you start to make approximately $60,000 (I am sure that this number varies by where you live and how many children you have), your happiness level does not rise with income. So do not take this number as the ultimate goal for your situation (give some thought to living expenses in your area) but remember that happiness does not rise linearly with income and at some point it is pointless to work longer hours if it is cutting into your family time or lowering your happiness level.