1. About 50% of happiness is determined by genetics.
10% is determined by circumstances.
And 40% is determined by us: our thoughts, our actions, and our attitude.
Most of us overestimate the role of circumstances – and underestimate our own role – in increasing our happiness.
5. But what about money?
Money makes you happy. No doubt.
But only up to a certain point.
Studies show that once you hit $75k in income, any subsequent rise in income only has a mild affect on happiness.
But there’s another underrated source of wealth and happiness:
Money is a renewable resource.
Once we have enough money to cover our needs, more control over our time leads to significant increases in happiness.
In fact, people are much happier when they use their money to buy time, according one study.
• Spend time with friends and family.
• Practice gratitude.
• Practice optimism.
• Incorporate physical activity.
• Make (enough) money.
• Once you have enough, focus on using it to get more control over your time.
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I write about marketing, psychology and career growth. I share my insights along the way.