How much money buys happiness? A wide body of research suggests the number is approximately forty thousand dollars a year. Daniel Gilbert, professor of psychology at Harvard University, says once you have enough money to meet basic needs – food, shelter, but not necessarily cable —incremental increases have little effect on your happiness.

Aaron Karo, comedian and author of the forthcoming book, Ruminations on Twentysomething Life, responds to the number with, “If you want to draw a line in the sand, happiness is having enough money so you don’t have to move back in with your parents.”

To someone who just spent four years in college living off nine-thousand-dollar loan stipends, an increase to forty thousand means a lot – moving from poverty to middle class. But it’s a one-time rush. After you hit the forty-thousand-dollar-range money never gives you that surge in happiness again.

Twentysomethings who are looking for happiness from their careers will benefit from research about their parents’ choices. Richard Easterlin, professor of economics at University of Southern California says previous generations have proven that our desires adjust to our income. “At all levels of income, the typical response is that one needs 20% more to be happy.” Once you have basic needs met, the axiom is true: more money does not make more happiness.

From Penelope Trunk’s Brazen Careerist Blog
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Remember the post about how I got dumped and still made it to a meeting with a venture capitalist in Menlo Park?

But that’s not actually the end of the story. I got back to my hotel, which, you may recall, I did not even need because I was not staying overnight in that area, and I sat on my bed and cried. Normal. Right? I mean, I did just get dumped.

But then I had to go to a party. For those of you who don’t hang out in Menlo Park, which might be 99% of you, there are no real parties there. For one thing, the ratio of men to women is about 1000 to 1. And the ratio of men with life-of-the-party social skills to women is about 1,000,0000 to 1. So all parties in Menlo Park are actually networking events. The line between work and friends is blurred there more than anywhere else in the world. Most people are very high performers, so they can choose to work only with people they want to be friends with. And most people there work all the time, so they have to tell themselves work is not work—otherwise, when would they be doing their personal life?

From Penelope Trunks’ Brazen Careerist Blog
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The market crash is going to mean a new era of banking, but it is also bringing along with it a few new ideas about how to manage one’s career. This is not the first sector to experience catastrophe, but it might be the wealthiest one. And we can all learn a little about managing our careers from watching what happens with the super-rich.

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Since so many people come to this site to sign up for our networking shindigs, I thought it would only be appropriate that we provide some useful notes and advice on how to become a more effective networker, not just for our event, but in any arena you happen to be in.

As entrepreneurs & professionals, we spent an inordinate amount of time talking, but…do we really know that the message we’re sending is being received properly?

One way to know is to get to know the person…but I’ll tell you now…if you aren’t already practicing the art of the Open Ended question, then you aren’t even getting 10% of the information you should be getting. Read more »