The Q/A is around 17:15 minute mark. Interesting research..
“Clearly… money does not buy you experiential happiness, but lack of money certainly buys you misery,” he said. But the real trick, Kahneman said, is to spend time with people you like.
I remember as a college graduate, I thought that as long as I have $10k in the bank, I'm all set. Ever since then, that magic $10k has always been in the bank but money has been growing elsewhere, including house, investments, cars, etc. But we have kept about $10k in cash just to be there and I feel satisfied.
In any case, Happy Memorial Day. Enjoy the freedoms and remember those who sacrificed their lives for those freedoms we have.