With regard to subjective well-being, research has found that

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Research has consistently shown that beyond a certain threshold, increasing income does not lead to a significant increase in subjective well-being. In other words, while money can contribute to happiness up to a certain point, beyond that point, other factors such as social connections, a sense of purpose, and personal growth become more important. Therefore, the statement "money does not buy happiness" is supported by research.

With Regard to Subjective Well-Being, Research Has Found That