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High Income Improves Evaluation of Life But Not Emotional Well-being

According to this study by economist Angus Deaton and Nobel-prize winning psychologist Daniel Kahneman, the perfect salary for happiness is about $75,000. The study concludes that, up to a point, money certainly can buy day-to-day happiness. This study is what motivated the Gravity Payments CEO Dan Price to cut his own million-dollar salary and, instead, bump up those of his employees to a minimum of $70,000.

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