while studies have shown happiness is maximized at 75k, I believe happiness is maximized at financial security. If your needs are are truly more expensive then the income required to support those needs and maximize happiness will be higher. while I didn’t agree with my wife initially, we have outsourced so much of the mundane parts of our life like cooking weekday dinner, maintaining our yard and home (inside and outside), and dealing with the annoying parts of managing our kids that we are able to 1. Work maximize our earnings and 2. Maximize the quality time and energy we can exert on the things we value the most.
Couldn't agree more on the second part. To expand on the first part, from leaving college to somewhere between mid 40s and mid 60s depending on the person, financial security generally means having enough money to pay the bills, live comfortably, and have enough saved that you're not living paycheck to paycheck and could afford an emergency. And maybe being able to contribute to your IRA/401k. At some point financial security shifts to "can I comfortably live the rest of my life on the money I've saved", which catches you a bit by surprise even if you know to expect it. And even if you weren't on the moving goalposts treadmill before it becomes harder to avoid. Not because you want bigger better stuff but because you start thinking "What if my real investment returns end up at 2% below inflation instead of 2% above? That's another $2M I need to save" or "What if I live to 95 instead of 85? That's another $2M". If you're not careful you can talk yourself into needing at least low 8 figures to feel secure if secure means investing all your money in TIPS and having enough to last to 100.