It is like the saying: money will not make you happy but a lack of money will make you unhappy.
There is a point where having enough for sustainance is required. After that, we might be looking at diminishing returns.
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True. That minimum threshold is essential for anyone and everyone. Let alone being happy, if someone does not make up for that basic needs, could be vulnerable. That is why we have the concept of a welfare state.
In the US, studies are that up to about 75K increases happiness. After that, it is a diminishing payoff.
Interesting fact!
Ya, it saturates and hardens at some point.
It would depend upon where you live of course. Some areas of the US, that isnt very much.
But whatever the number, more is not greater happiness passed a certain point.