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Even if you believe Kahneman (I happen to), the $60k number is probably illusory for most Americans, since location is important. In NYC, perhaps the number is
by jack7890 16y ago
Even if you believe Kahneman (I happen to), the $60k number is probably illusory for most Americans, since location is important. In NYC, perhaps the number is $95k; in rural Arkansas, perhaps it's $25k.
I'd love to see data on how the specific "ideal" income level varies by location.
- nandemo 16y agoFor what is worth, the average yearly income for salarymen in Tokyo is about 6 million yen (~=U$65k). http://nensyu-labo.com/ken_tokyo.htm http://nensyu-labo.com/ken_tokyo.htm (In Japanese) I think NYC's cost of living is not that much higher than Tokyo's. However, as many pointed out in this thread, people care a lot about their income relative to their neighbors. So it's plausible that New Yorkers would require a much higher income to be content, compared to Tokyoites.