I would say there is a happiness that comes from the security knowing you have enough for a comfortable life and joy can often be had from quite expensive experiences (luxury or exotic).

We have a HHI of $340K and that allows us to have a comfortable home with a short commute and good schools for our kids. We are on track for a comfortable retirement. We cannot afford everything we might want but we can afford enough.

Things like a longer commute, lack of space or barely working fixtures, poor schooling options, financial insecurity, etc., cause stress and do have an impact on happiness.

I could have joyful and happy experiences with more money, but do I need those things to be happy, no.

For us it was $184K. We now have HHI of $240K and are not any happier, although more financially secure.

My BIL lives on close to nothing and he's a multimillionnaire. He gives his money to others. He's happy.

1M