In 2010 Angus Deaton and Daniel Kahneman at Princeton University tried to quantify the relationship of money to happiness using a year-long Gallup survey that resulted in a massive dataset of 450,000 daily responses from a nationally representative sample of one thousand people.

Deaton and Kahneman showed that in the United States, $75,000 seemed to be a kind of magic number at that time. Once a household income was more than $75,000 per year, which was close to the average family income in the U.S. at the time of the study, the amount of money that people earned showed no clear relationship to daily reports of enjoyment and laughter, which were used as indicators of emotional well-being.

4. Flipping the Arrow of Money

The people in our study flipped the arrow of money. Instead of work being a means to money, money became a means to work. And they made this shift because they embodied an unusual definition of work. For the people in this study, their true “work” could best be defined as pursuit of excellence in a hedgehog.

For some people in the study, making the economics work proved relatively easy, whereas for others it proved much more difficult. Family wealth served as a significant means to pursue a hedgehog in only six of the 34 lives we studied, whereas in ten of 34 cases people endured at least one significant phase of scarcity while in pursuit of a hedgehog. Yet whether easy or difficult (or somewhere in between), they committed to focus their inner fire in line with their encodings and they figured out how to make the economics work.

Of course, not all of the 99.999% moments count as joyful bliss.

Welcome to the Stress and Drudgery Tax.

Even when right in the middle of the best hedgehog years of their lives, the people in this study paid what I came to call the Stress and Drudgery Tax. To be clear, the tax is not about stress and drudgery outside doing a hedgehog but about stress and drudgery in doing the actual hedgehog.

Recall Grace Hopper’s exquisite encodings for advancing computer software and the adoption of standard languages, and how she never lost the fire. Yet she found herself paying a tax: the frustration of getting people in bureaucracies to change and embrace new technologies. “I find in general that human beings are allergic to change. They’ve learned something, they’re perfectly satisfied doing it, and you come along and say, you’re going to do it this way. People push it away. . . . The job of changing people’s minds is one of the biggest challenges we have.

We found scant evidence that the people in our study had an explicit goal of working until a target retirement age to be followed by a life dominated by leisure. The vast majority of people in this study remained engaged in some permutation of a hedgehog well past the age of 60, in some cases into their 70s, 80s, even 90s. That said, nearly half the people in our study had a “retirement” from one hedgehog partway through their lives and faced the challenge of transitioning to the next one. Sometimes these were relatively smooth transitions, such as Tenley Albright’s shift from skating to surgery.