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The Real Deal About Money and Happiness: Why $70K Isn't Enough

Wait, What's This $70K Thing About?

You've probably heard it before – some study from way back saying that once you make $70,000 a year, more money won't make you any happier. It's been floating around the internet forever, and honestly? A lot of people think it's total nonsense.

Sam Parr and Kevin Espiritu are two guys who aren't buying it. They think this whole "$70K happiness ceiling" is outdated and just plain wrong. Let's dive into why they think you can definitely be happier with more money (when you use it right).

The $70K Study is Getting Old... Really Old

Here's the thing – that famous study is from 2010. Kevin points out something super important: $70K back then is like $160K today because of inflation. That's more than double!

And even $160K? In cities like New York, San Francisco, or Los Angeles, that's barely enough to live comfortably, let alone be rolling in happiness.

Think about it this way: if $70K was the magic number in 2010, wouldn't it make sense that the number has gone up as everything else has gotten more expensive?

Why More Money Actually Does Make You Happier

1. You Can Buy Back Your Time

This is huge. When you have more money, you can pay people to do the stuff you hate:

• House cleaning

• Grocery shopping

• Yard work

• Car maintenance

• Meal prep

Instead of spending your weekend scrubbing toilets, you could be hanging out with friends, learning a new hobby, or just chilling. That's happiness right there.

2. Financial Stress Disappears

Ever laid awake at night worrying about bills? Or felt that pit in your stomach when your car breaks down? When you have enough money saved up, those worries just... go away.

Without that constant background stress of "Can I afford this?" your brain has space for better things. You can focus on growing as a person, enjoying life, and building relationships.

3. You Get Freedom to Choose

More money means more options. Want to take that cooking class? Go for it. Friend's wedding in another state? Book that flight without sweating. Job making you miserable? You can afford to look for something better without panicking about rent.

The "Rich Life" Approach

Ramit Sethi (a money expert) talks about creating your own "rich life." This means figuring out what actually matters to YOU and spending money on those things while cutting back on stuff you don't care about.

For example:

• Love traveling? Spend money on trips, but maybe skip the fancy coffee every day

• Hate cooking? Invest in meal delivery, but buy a used car instead of new

• Family time is everything? Pay for help around the house so you have more time with loved ones

The key is being intentional about how you spend your extra money.

It's Not Just About Having Money – It's About Using It Smart

Here's where Sam and Kevin get really smart about this: they're not saying "throw money at everything and you'll be happy." That's not how it works.

Instead, they're saying use your money strategically to:

• Remove stress from your life

• Buy experiences that matter to you

• Save time for things you actually enjoy

• Create security so you're not always worried

The Real Talk: Money Problems vs. Money Solutions

Let's be honest – money doesn't solve every problem. If you're dealing with relationship issues, health problems, or just general life confusion, a bigger paycheck isn't going to magically fix everything.

But what money CAN do is remove one big source of stress and give you more options to work on the things that really matter.

What This Means for You

So where does this leave you? Here are some practical takeaways:

If you're making less than $70K (or $160K in today's money): Don't feel bad about wanting to earn more. It's totally normal and probably will make you happier.

If you're already making good money: Think about whether you're using it in ways that actually improve your life. Are you buying stuff you don't need, or are you investing in experiences and services that genuinely make you happier?

Either way: Remember that the goal isn't just to make more money – it's to use whatever money you have (whether that's $40K or $400K) to create the kind of life you actually want to live.

The Bottom Line

The $70K happiness plateau? It's probably bogus, especially in today's economy. More money can absolutely make you happier – but only if you're smart about how you spend it.

The real secret isn't hitting some magic number. It's figuring out what kind of life you want and then using your money as a tool to build that life. Sometimes that means earning more, and sometimes that means spending what you have more thoughtfully.

Either way, don't let some old study convince you that wanting financial success is pointless. Your happiness is worth more than that.