It is backed up by scientific research. With the exception that stuff which enables you to do something has a lot of value, however your 5th car is almost meaningless in terms of happyness. What's easy to forget is advertising is designed to push past that minimal stuff threshold.

http://psychcentral.com/blog/archives/2010/04/10/5-reliable-...

Well, recently I am taking any psych research with a saltmine. Also, "once you reach certain amount" is quite a disclaimer. Sure you often hear, that experiences not stuff makes you happier, however when the money is no longer a limitation you can afford much reacher experiences. E.g.: how remarkable it would be to visit space? How many can afford that?

Money means you can do a wider range of things, but those things are different not nessisarily better. I don't think going to space would be all that much more interesting than going snorkeling coral reefs the first time.

Also, if you look at the lives of people that inherent lot's of money they tend to do the higher versions of the same kind of things. It's like throw a party with great music, vs throw a party with a live band when what makes a party fun is not the music it's the people there.

This is true but it has to do with habituation more than the 'stuff' itself.[1]

People quickly become accustomed to any new positive thing introduced into their lives, make that the baseline and then start wanting something better.

The minimal stuff threshold is about survival and homeostasis, once that is achieved, anything beyond that does not produce lasting gains in happiness.

[1] https://en.wikipedia.org/wiki/Habituation

It's more than just food and shelter.

Having a computer with internet connection can increase happiness. For example elderly that feel more connected with their families. The important thing is the minimum threshold is a computer, so a 200$ laptop can fill this need just as well as a 10,000$ laptop.

Further, in that case it's connecting to people that's bringing happiness not the physical device.