Money Does Buy Happiness… Sort Of

by • March 1, 2013 • Life LessonsComments (0)1565

I follow the financial markets fairly closely, so as I was doing some reading I came across this article from a couple days ago on Yahoo Finance. It sites a survey done by Spectrem group, that found that individuals worth $5 million or more are more satisfied with their lives that people worth $100,000 or less. Now, going from people worth $100,000 to people with $5 million or more is a pretty big jump, but what it points out is interesting.

From the article:

The study found that 53 percent of those worth $5 million or more were “very satisfied” with their job or previous job. That compares with only 21 percent for those worth $100,000 or less.

The multi-millionaires are also twice as satisfied with their social life, presumably since the wealthy have no shortage of friends and invitations.

Nearly three quarters of the penta-millionaires are very satisfied with their marriage or “committed relationship” – far more than the 45 percent reported for the merely affluent. Millionaires are also significantly more likely to report higher levels of satisfaction regarding their relationships with their children (59 percent vs. 52 percent).

What it basically points out, is that money buys freedom for these folks. A lot of these people could probably care less about whether or not they can go buy a new Mercedes every year. What money brings is the freedom to make whatever choices you want in life. So you can spend more time with your friends and family and do what you want professionally instead of simply chasing a paycheck. Like the great philosopher/rapper Kanye West says, “Having money ain’t everything, not having it is.”

The good news is, you don’t have to be fabulously wealthy to feel free. Stop doing things you hate because you feel like you have to do them, and pursue what you love and surround yourself with good people seems to be the message here.

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