More money, less happiness: When money makes you miserable

More money, less happiness: When money makes you miserableMoney, the conventional wisdom says, doesn't buy happiness. Modern psychology seems to back this up, with studies suggesting that beyond an income of $75,000, money doesn't make you any happier.

This conclusion is simultaneously obvious and counter-intuitive.

As an abstract principle, most us acknowledge that money doesn't buy happiness. But, at the same time, we all want more of something material -- a nicer house, nicer vacations, the ability to live in a certain neighborhood or eat at fancier restaurants -- that we think would make us happier. (If you're J.D., you think maybe season tickets to your favorite team might make you happier.)

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More about...Psychology, Spending Wisely

What we talk about when we talk about risk

Everybody’s financial situation -- age, income, saving rate -- is different.

But every retiree, early or late, aspiring or actual, has the same, simple investing imperative: We must preserve and grow our purchasing power in real terms in order to finance decades of future consumption.

This sounds simple (which it is) and obvious (which it isn’t).

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More about...Investing