Rima Grace

I was curious what the research says about this question, how much is enough.

And it turns out experts have tried to pin a number to it, at least as it relates to happiness.

For years, they thought that your emotional well-being kind of leveled off once your basic needs were covered.

At one point, like 15 years ago, that number was $75,000.

People have kept arguing over the exact figure, but newer research suggests there might not actually be a ceiling.

There are some exceptions, but on average, the research shows that the more money people have, the happier they tend to be, which feels kind of sobering that there isn't a clear finish line.

But it also makes sense.

Like, how many of us have thought a raise would solve our financial problems just to have the rent or insurance premiums or grocery prices go up unexpectedly?

Unless you're ultra-wealthy, there are always going to be so many factors out of your control.

Which makes it hard to think about enough even being possible.

When you hear this question, how much is enough, what's the first thing that comes to mind?

What are your fears?

What are you so afraid of?

Wendy De La Rosa is an assistant professor at Wharton.

I wanted her take because she studies how money feels, and she thinks that's what this question is really about.

So much of what we spend the last decade studying is how people feel about their money, which can be fundamentally different from their objective financial situation.

Like, our feelings are really stemming from our perceived difference between our expectations and reality.

I should...

be at a better place than where I am, or I should be earning more than what I am earning now, or I shouldn't have this much debt.

We are social creatures by nature, and so we are engaging in social comparisons all the time.