The answer to many questions about personal finances isn’t black or white. There are so many variables, choices, and potential outcomes for most situations that, in many cases, the best answer is simply: it depends. But you won’t hear any uncertain or unsatisfying financial advice in this episode.
I’m going to cover eight financial truths that apply to everyone in every situation.
They have the power to transform your financial life — if you let them.
Money doesn’t buy happiness
Researchers have shattered the illusion that having more money makes you happier.
They say earning about $75,000 a year is the sweet spot. That’s a national average that varies depending on where you live. Happiness costs more in big, expensive cities like New York and San Francisco.
Earning $75,000 allows the average American to pay for comfortable housing, have reliable transportation, eat well, take an occasional vacation, and save for the future.
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