There was a somewhat famous study done at one of the Ivy League universities, concerning money and happiness. They followed a group of people for more than a decade... and it was determined that beyond the point of having "basic comfort" met to where you are not stressing about bills, food and basics... it actually makes very little different to a person's happiness to have more money... and beyond a certain point, happiness actually starts to decline because the degree of worry associated with wealth starts to take effect.
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