Folks, we’ve been sold a big lie. No, not that one. We grew up hearing that money isn’t everything. Yeah, those neighbors may be rich, but they’re probably unhappy.
Well, new research is blowing up that myth. Let’s open the kimono.
Nobel Prize-winning psychologist Daniel Kahneman found that people are generally happier as they earn more money. Shocking, I know. His study suggests that happiness rises with income, up to $200,000. Only 20% of people making 200 grand were unhappy.
The researchers pinged participants’ cell phones at random times and asked “How do you feel on a scale from very bad to very good? Kahneman admits that there are varying degrees of happiness and some are rich and miserable. “But, their misery probably isn’t something money can fix.”
Then again, some will argue that anyone who says money can’t buy happiness just doesn’t know where to shop.
Here’s my take. Of course, money can’t buy world peace, common sense or a fulfilling marriage. But having financial freedom affords high-earners more leisure time.
So, nobody will be surprised by research that confirms more money gives people more control of their lives. More money = more happiness.
Unless you’re a fan of Succession (on HBO Max).
It’s a deliciously evil look at the lifestyle of people with m-a-j-o-r money. Beyond rich, this family is wealthy. Loosely based on Rupert Murdoch’s clan, the show reveals the seamy underbelly of how money creates friction and breeds resentment. As a result, the entire cast is morally corrupt, and none are happy.
That said, if given the opportunity, I’m pretty sure I’d be happy being insanely rich.