Money increases happiness only when it lifts people out of poverty to about $50,000 a year in income. Past that, wealth and happiness part ways. This suggests something practical and relieving: Help your children get into a profession that can at least make around $50,000 a year. They don’t have to be millionaires to be thrilled with the life you prepare them for. After their basic needs are met, they just need some close friends and relatives.
