Path to Higher Happiness: The $75K Turning Point

Can money buy happiness?

‍ The usual answer is, “Probably not, but it certainly contributes to it.”

Money is undoubtedly helpful for meeting basic needs like paying bills and buying groceries. However, there’s a paradox between our basic needs, covered by Maslow’s pyramid base ^[1], and the findings of the Easterlin paradox outlined by Economist Richard Easterlin ^[2].

According to Easterlin, emotional well-being rises with income only to a certain point (around $75,000 USD equivalent threshold) ^[3], after which it reaches a plateau.

The $75K Threshold: Unveiling the Magic Number

This phenomenon is what we call the $75K Happiness Tuning Point (HTP-75). Beyond this point, where money covers needs, accumulating wealth does not proportionally increase happiness. Beyond this point, money has more to do with fulfilling desires than with covering needs.

Of course this symbolic turning point depends on location, culture, education, personality and household’s structure. It varies from around $30K to $K125, and reveals a plateau in the curve of the evaluation of positive and negative affects of income, as well as subjective well being. From this turning point, one has to decide between two paths: ‍

1. Keeping on accumulating wealth pursuing the route of one’s own desires. This route where one’s self-indulgence is an endless competition based on comparison, leads to more anxiety and over consumption, not automatically to more happiness.

2. Striking a pause and considering the unmet needs of the community. On this route, money along with time and skills, are extra resources that can have a positive impact on the world around us, which is a means of self and collective fulfillment.

Considering happiness, Science shows that the latter path has a much higher return on investment, and a lower environmental footprint. ^[4] The more you possess, the more you consume, the greater your carbon footprint will be.That comes along with all the bad consequences we all should know for now, overcoming planetary thresholds and reinforcing inequalities.

The ecological impact of income and wealth is quite linear up to that 75K turning point. Above that turning point carbon emissions rise exponentially.

This vicious circle is hopefully not a fatality.

Enter Wehappers: Redefining Wealth and Happiness

‍ Wehappers steps in with an audacious mission: envisioning ‘happiness’ as an exchangeable currency, shaking up traditional wealth distribution concepts. We gather wealthy people… people rich with Skills, Expertise, Goodwill, Time and/or Financially. You’ve seen these folks; They might be your retired neighbor who fixes vintage cars or your college friend acing her web development job. Both are looking for happiness. One is enjoying his extra time and money while the other one is considering her life time and her skills as misused resources. Both have resources to participate in the development of a happy version of growth. That of happiness.

Wehappers channel this wealth of resources towards nonprofits and impact startups, focusing on initiatives that help underserved communities meeting their needs.

This approach fosters a collaborative ecosystem that measures the positive impact of initiatives on well-being and translates this impact into ‘Happiness Impact Tokens’ or ‘HITs’- the ‘Currency of Change’.

How Does the HITs Economy Work?

Let’s break it down. Imagine a teacher involved in a nonprofit organization spending some hours weekly tutoring underprivileged children in their neighborhood as part of a Wehappers initiative. The time, effort, and genuine care she provides help these children perform better at school, lifting their spirits. The children’s improved grades and increased self-confidence add to their happiness.

Wehappers measure the evolution of the score of these children on the Maslow pyramid. With every hour the teacher invests, she earns Happiness Impact Tokens(HITs) corresponding to her contribution.

The teacher’s compassion and dedication inspire the owner of the local restaurant who decides to offer her a discount in exchange for some of her HITs. He also decides to share the HITs he collects as bounties with his employees or through a loyalty program with his clients and suppliers.

This entrepreneur gains happiness and purpose from participating to elevate the wellbeing of the community. His staff takes pride and credits in being part of a socially responsible enterprise. Clients and suppliers appreciate this ethical business model in which they take part. This model can be transposed to all the sectors of the traditional economy, from the smallest restaurant to the largest airline.

With a growing number of measured positive impact initiatives carried out by associations or committed companies, comes a wider community of Happers. The opportunity is given to each and every economic player to increase CSR score and amount of HITs in supporting happiness generation, in elevating people on the Maslow pyramid.

Through this model, Wehappers is changing the script, transforming how we view wealth, happiness, well-being, and care evaluation. It creates an economy of shared prosperity and happiness on both sides.

The Big Picture: A Sustainable and Inclusive Future

According to the Global Wealth Report 2022 by Credit Suisse ^[5], the top 10% wealthiest adults globally held about 76% of all wealth, and a non measurable stock of time and skills to be shared, while 700 Million people are living with 2 US$ equivalent per day ($US 700/y).

Now, let’s dream big. Imagine if those who reached the 75K turning point (this represents close to 1 Billion of the world’s population) of adults contributed a tiny percentage (1% or even less) of their excess wealth to support initiatives focusing on underserved communities.

This scenario would significantly elevate the well-being of those at the bottom of the pyramid. The actual transformative impact of such a scenario would be massive. So, how is this unique from a standard tax system which essentially takes from the rich to distribute to the poor? ‍ Wehappers’ approach isn’t about replacing taxation but making savvy use of sustainable resources—time and skills—to create a ‘Happiness Experience’ that benefits both givers and receivers. This isn’t a zero-sum game; it’s the creation of a win-win ecosystem.

In this fair competition, anyone can play, and there’s an infinite victory line for all players. As Pierre Omidyar said, “Every individual has the power to make a difference.”

So, take a moment and ponder: What’s your power? What’s your turning point? Where are you on the path?

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