A few years ago, I came across a Princeton study that revealed once an individual earns $75,000 a year, additional earnings have little to no impact on â€œemotional well-being.â€ Though weâ€™ve all heard the adage, â€œMoney canâ€™t buy happinessâ€, this quantification certainly casts a different light on the meaning. My surprise of this discovery was revealing for two reasons:
- I had thought high earns played some, if not a significant, relational role to happiness.
- I had assumed this number to be higher.
With this in mind, I thought back to decisions I made in college that could be attributed to an aspiration to obtain wealth. My pursuit of a corporate law career was not solely based on an passion to trade my youth to a corporation to interpret dense rules in legalese. It seems that money may have played some part in justifying the means. The curious part, I didnâ€™t have a dollar amount associated with my pursuit of wealth but I was willing to sacrifice a lot to get there.
Learning this had made, what were once tough decisions, seem clear. The decision between attending Law School or taking a less traditional path of joining a tech startup no longer weighed equally. Realizing this number to be obtainable allowed for the prioritization of more important considerations, like interests, a drive of purpose and the pursuit of mastery. This study was the scientific affirmation to pursue results of the commonly asked question, â€œWhat would you do if you didnâ€™t have to consider money?â€