How much more money do you need to be happy?

There's a good article in the WSJ discussing a recent survey that asks people how much of a pay bump people think they need to be significantly happier.

The Pay Raise People Say The Need to be Happy

Once you make $100,000 per year, people estimate they need $25k - $100k more.

Well hey what do you know, that's pretty much how much extra you could make if you go 1099!

But will you actually be be happier?

In my experience....yes!

But happiness is a feeling, and that reverts to a baseline over time.

And it's not the actual money that makes you happy, it's what you do with it.

• Having extra savings or investments makes me worry less about losing a job and allows me to take more risks.
• Being able to pay for daycare in DC AND allowing my wife to scale back her work decreased the overall stress in our household
• Buying back my time (e.g. just taking time off or hiring some landscape guys to mow the lawn) always makes me feel great

A higher income has dramatically improved my family's quality of life in this life phase with a young kiddo.

But you get used to anything and you'll quickly adjust to going from $100,000 to $175k,000 a year.

Don't endlessly pursue money for its own sake.

But more money gives you more options, and if you spend your money wisely, you can enjoy the lifestyle the money brings.

Want the full playbook? Check out Going 1099.