There have been plenty of stories into lottery winners, who after winning become completely miserable, many of which end up killing themselves. Of course, you don't hear about the success stories, and there's also a certain type of person who plays the lottery which might attract insanity when they win. [1]
The "rest and vest" story from a day or so ago was also interesting. It might be that these people were happy just sitting around collecting a paycheck and vesting. But the story talked about how many of these people say they want to leave and start their own thing, but can't/don't because the position they are in is too good. Is that happiness? Or is it complacency and "good enough"?
Another angle is "trust fund babies"; people who receive large inheritances and don't generally have to work. I'm not sure if I'm aware of any studies into their happiness.
I'd love to see more research and stories on this. The traditional saying is "money can't buy happiness"; maybe that's absolutely true, or maybe it should be tweaked to say "the average work it takes to have a lot of money will leave you unhappy."
[1] http://time.com/4176128/powerball-jackpot-lottery-winners/
I believe the media's interpretation is that over $70,000 people cease to become happier, which is obviously false. Of course managers are trying to use that as a reason to stop paying people more.
Anyway, if you make more than $70K now, and you suddenly were reverted to making $70K, you wouldn't retain the same level of happiness (obviously), unless you were already wealthy. It makes for an juicy headline though.
I believe there's some truth to that, but I also believe that there's a fear/weakness in those with inherited wealth that if they became destitute, they do not have the ability to rebuild the wealth.
I've read that's a media misinterpretation of the results. From what I understand a certain salary satisfies your basic needs, as in Maslow's Triangle, but further income improves happiness. Of course, if you work in a shithole, you're going to be miserable no matter how much you make.