In 2010, there was a pretty famous study about 75k being the inflection point for a diminishing return on reported levels of happiness.
This year, a much deeper data study debunked that. The inflation adjusted income of 80k did not correlate with the "sweet spot" of happiness.
I'm writing an article for an REIT, so I took a look at homeownership as a control. in 2010, the average cost of a home was 279k. At 75k income, that's about 3.7x your annual income.
In 2021 at 80k ("inflation adjusted"), the average cost of a new home is 409k....5.1x your annual salary. that means someone making 80k in 2021 is about 35% poorer than someone making 75k just 10 years ago.
I'm posting this to point out what. crock of shit inflation rates are. They are fucking out of control. The 80k was determined off of federally reported inflation rates between 2010-2021. In just ten years time, if someone got the "inflation raise" consistently, they would be 8 years further behind on a mortgage (and that's assuming you have 20% to put down NOW) just 10 years later.
fuck this...we will die poor if we don't take some chances – that's a certainty. pretty much every financial advice you've ever been given was intended to keep you poor. do the opposite.