Study: Rich people two times happier than poor people

by 81 comments
Hi everyone,

I read a study that was done in Quebec, Canada that showed that there is a direct correlation between the amount of money someone makes and their levels of happiness, with the rich being the happiest of all.

This matches my experience, in that all the millionaires I've known or worked with were all VERY happy, passionate, evolved and fun-loving people. The most miserable people I know are also the poorest.

There you go!

What are your thoughts?

Gab
#personal development #happier #people #poor #rich #study #times
  • Profile picture of the author RHert
    Gab,
    I've met many millionaires and it's true many of them are very happy. Stress is eliminated from their life because of their finances, they also have the time to pursue their dreams. I have to tell you the happiest ones I've met are the self made millionaires. They've achieved their dreams and grown in their life through that.
    Everyone has the ability to be a millionaire, they just have to follow their dreams and obtain their goals. The money doesn't come until they've reached that place.
    People like being around others who are happy, who can make them feel better.
    Conversely millionaires who aren't following their dreams can be just as miserable as the poorest person alive.
  • Profile picture of the author joekyut
    Maybe true but not fully as the fear of loosing it all still persists. Mostly, if your wealth was acquired illegally or the kid is dumb.

    You never know the stress might even come from wife/co-wives for polygamous families.

    All in all wealth is good but real happiness is what you go home to when you have peace of mind (no debts, stress or enemies).
  • Profile picture of the author sethczerepak
    Money might not buy happiness, but it does buy a lot of things that make you happy. I've been broke and now I've been affluent. One is better than the other.
    • Profile picture of the author creaver1
      Can you post a link to that study?
      The Gallup research (directed by Daniel Kahneman) does not show those results exactly.
      After $40K/per capita, happiness flatlines. More money does not add happiness.

      JimN

      --------
      Ask me about Power Partnering
  • Profile picture of the author ramdom123
    I have to agree money buy so many things that will make you happy
    • Profile picture of the author maclennan
      Money can buy you happiness and contentment, but surely the most important factor is a person's health...
  • Profile picture of the author Deidra Renee
    I agree that money does not buy happiness, you can be rich and depressed. But I also know it's not fun to have bill collectors calling you everyday all day and you only have $15 in your pocket, but $5500 worth of bills. So yes, money makes things easier and you will probably tend to be more happy without all the financial stresses that comes when you're broke.

    So no, it doesn't make you happy, but it makes life a whole lot easier.
  • Profile picture of the author MaryKathan
    I would say that the money (if handled well) helps people have less stress and do more fun things.

    But I have met a lot of poorer people who seem so very happy. I have met some rich people who are always grouchy.

    I think money is not the only reason - but it does help to enjoy some fun things in life.
    • Profile picture of the author Rachel Incoll
      Yes, so many people try to tell you that money doesn't buy happiness...but it sure makes life an awful lot easier!

      Without enough money to pay your bills each month, life isn't that fun...
  • Profile picture of the author DownNout87
    This study should not surprise anyone....lol

    There are certain exceptions to this rule though.
  • Profile picture of the author alcymart
    The quote "Money does not buy hapiness" was invented by a poor junkyard trader in the 19th century if my memory serves me right. One shouldn't take it seriously.

    More money does indeed bring more hapiness!

    I am self made and having been poor for many years, I know the feeling oh too well, and I am incredibly happy now! Not because I can buy things because thats only temporary hapiness... but because of all the financial pressures are gone.

    The rich folks that are unhappy, sure there are exceptions. ie: It is widely known that Doctors are not happy folks...but it has nothing or little to do with money.

    Bernard
    • Profile picture of the author theory expert
      Originally Posted by alcymart View Post

      The quote "Money does not buy hapiness" was invented by a poor junkyard trader in the 19th century if my memory serves me right. One shouldn't take it seriously.

      More money does indeed bring more hapiness!

      I am self made and having been poor for many years, I know the feeling oh too well, and I am incredibly happy now! Not because I can buy things because thats only temporary hapiness... but because of all the financial pressures are gone.

      The rich folks that are unhappy, sure there are exceptions. ie: It is widely known that Doctors are not happy folks...but it has nothing or little to do with money.

      Bernard
      I think alot of times people who say that money doesn't buy happiness been rich, sooo, long they forgot what it is like to really live poor. There is a difference living comfortable, "saying", money don't buy happiness, and, "living" it(poor) on a day to day basis.

      P.S. Doctors who aren't happy probably live beyond their means. First time I heard Doctors are unhappy folks. Though, millionaire next door does speak of almost half Doctors financial status not good when it comes to the investing department. Which goes back to first sentence on P.S.
  • Profile picture of the author astaisix
    I guess it depends on the type of person you are too.. If you enjoy just hanging about, not really experiencing a whole lot outside of family and friends that's fine and I dont think you need a bunch of cash to do that..
    However if your an adventure seeker or really enjoy things that take a lot of money.. well then of course... the more money you have the better..

    It's all relative im sure.. I know when I have a bunch of money Im more willing to go on fun trips, see places, do things, buy interesting pieces of technology.. all the sorts of stuff that can only be got with money.. and that makes me happy.. also other things that dont cost money make me happy..

    bottom line.. if you dont have things that makes you happy without spending money.. no amount of money will bring you long term stable happiness

    money cant buy wellbeing, but it sure can amplify it!
  • Profile picture of the author mge
    This reminds me of a Beatles song "The best things in life are free, but you can give it to the birds and bees, I want money!"
  • Profile picture of the author Nereah
    Money does make life easier, not having to worry about bills. Being able to buy what you need when you need it of course will make anyone happy. However, a person needs to understand that there are times when you can have some money... and I mean some i.e not too much, not too little in your account and yet get depressed over issues because there are things that money cannot buy and that is when contentment should be practised. But I do agree with you 100% that having some funds to spend when you Need TO does make folks alot happier.
  • Profile picture of the author abugah
    Most people worry over small things like: paying rent, paying school fees; the unforgiving economy; affording healthcare; taking a nice vacation etc. For a broke guy these are real issues hence the stress. For a rich guy these things occupy less of his time so he is much happier.
  • Profile picture of the author danlew
    I don't think most rich people are happy right now. It's not like they're not contented yet until they beat the great Bill Gates, but its about the relationships they had with other people (even the poor). Sometimes, money destroys relationships because these guys loves money more than their family.

    It can't buy some happiness for you....
  • Profile picture of the author MattBrighton
    Rich people are definitely more happier. I'm in an area in the UK that has an area of rich people and middle class people (I'm fortunate enough to live in this area) but we border to a town that is rated one of the poorest of places in the UK. And going through there, you begin to notice pretty quickly how unfriendly people are there and how worn out they look. I can't exactly make the assumption that this is because they are struggling financially but there definitely is a link
  • Profile picture of the author Vernita
    This should not come as something new or surprise at all for anyone.... rich people are happier because there is a lot of things money can buy where as poor people cannot sometimes even get to eat twice a day...
    • Profile picture of the author Daniel Evans
      Money might make people happy but it's often a hard fall if they lose it.

      It's best to have the majority of your happiness banked with life alone.
  • Profile picture of the author Jim Guererro
    I wouldn't attribute a specific amount of money makes people happy but the fact that money is coming in based on ones effort makes people happy. I think too much emphasis on the monetary amount versus how good it feels to make other people lives enriched and at the same time get compensation for it.
    • Profile picture of the author debml
      Originally Posted by Jim Guererro View Post

      I wouldn't attribute a specific amount of money makes people happy but the fact that money is coming in based on ones effort makes people happy. I think too much emphasis on the monetary amount versus how good it feels to make other people lives enriched and at the same time get compensation for it.
      I agree with Jim - lottery winners are clearly an example of this. The more more money a person has, the bigger their financial challenges become. Instead of $5500 in credit card debt - could more like $550,000...
  • Profile picture of the author perfectlovehere
    I think it may be because they see the positive in things which might be partly how they acquired their wealth.
  • Profile picture of the author echelon
    I don't agree with that. I am not a millionaire. But, while money can help buy certain things, it is surprising to see that many people in Africa (which is supposed to be very poor) can be seen smiling. This should not be the case if money was what made someone happy.

    We even have the example of stars who do not seem to be happy.
  • Profile picture of the author niknik
    well common sense really but money cant buy happiness,well can buy fun and not true happiness but lots of money certainly makes life easier,no bills to worry about,no stress with debts,the only stress what color new car shall I buy or where shall I buy my new house or what country shall I go on holiday next year.
    most rich people are on a different planet !!!!!!!o idea of hardship and what stress is about when you have debts and money worries.
    I have money and property once and lost it all due to resession so I know what stress is really about.
  • Profile picture of the author jade69
    Do you have a link with the original study?

    This is true that wealth means happiness.

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