Are Rich People Happier Than Poor People? - Daily Trust (2024)

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We know so much about happiness, yet we understand so little. For example, we can see happiness in others (a mother knows when a child…

We know so much about happiness, yet we understand so little. For example, we can see happiness in others (a mother knows when a child is happy or sad). We know some of the things that cause joy, e.g. a delicious meal (some cultures actually have business meetings while dining because that is the time people are more agreeable.)

Yet, there are some questions we wonder about. Such as: can we buy happiness? Does success make you happy? Are people in developed countries happier than their poor counterparts? Can we trick ourselves into happiness? Does positive thinking cause happiness? Does happiness even matter?

Indeed, the answer to a life of happiness is much simpler than you think. But you may require a pencil (but it is not for writing), a diary and a gratitude attitude.

Let’s start with the last question: does happiness even matter?

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It does.

Some years ago, Sonja Lyubomirsky of the University of California and colleagues set themselves the daunting task of reviewing hundreds of experiments on the effects of happiness.

In his book, “59 Seconds,” Richard Wiseman reported the results of that study:

“After trawling the data from hundreds of studies involving more than a quarter of a million participants, Lyubomirsky discovered impressive benefits to being happy. Happiness makes people more sociable and altruistic, it increases how much they like themselves and others, it improves their ability to resolve conflict, and it strengthens their immune systems. The cumulative effect means that people have more satisfying and successful relationships, find more fulfilling careers, and live longer, healthier lives.”

In order words, happiness leads to positive psychological and even physiological outcomes.

Wiseman continues:

“Given the emotional and tangible benefits of happiness, it is not surprising that everyone wants a slice of the pie. But what is the most effective way of putting a permanent smile on your face? Ask most people the question, and you are likely to receive a two-word answer: more money. In survey after survey, the need for a fatter wallet consistently tops the “must have” list for happiness. But is it really possible to buy happiness, or do financial aspirations set you on the road to despair?”

This leads us to the second question: does more money get you happiness?

Only to an extent.

In the 70s, Philip Brickman of Northwestern University and his colleagues wanted to answer that question. Do people who achieve their financial dreams live a happier life than the common run of men?

To answer that, he contacted people who had won major financial prizes in the Illinois Lottery, including those who won millions. In the control group, he randomly selected people from a telephone directory.

All the participants were asked to rate how happy they were at the moment and how happy they thought they would be in the future. They were also surveyed on how much pleasure they derive from every day activities such as hearing a joke, conversation with friends, and so for forth. The results provide instructive insight on the relationship between wealth and happiness.

Counterintuitively, there was no difference between those with money and the control group. That is, the lottery winners were not more happy or less happy than the control group.

There was also no significant difference between the groups on how happy they expected to be in the future.

How about the pleasure they derived from the simple things in life? This was where the two groups diverged. The control group, significantly, derived more pleasure from the simple activities of daily living.

Of course, you may argue that winning the lottery is not a regular way to achieve wealth, and you are right. You may then ask about the relationship between wealth and happiness among those who worked for their wealth.

Fortunately, psychologists have answered that question too.

One way researchers approached that question was to do an international study to rate people’s happiness in different countries and match it with their gross national product (GNP). They do this, so that they can tell the differences between the poor and rich countries.

Results showed that people in very poor countries were not as happy as those in rich countries. But that difference vanishes when a country reaches a moderate GNP.

The research between salary and happiness suggests similar insights. Even those on the Forbes 100 wealthiest were only slightly happier than the average Americans, according to a study by Ed Diener of the University of Illinois.

So the message from income and happiness is clear: once people can afford their needs in life, an increase in wealth does not result in a significant level of happiness. If wealth is not a sustainable way to permanent happiness, what then is the answer?

Does positive thinking lead to happiness?

Not quite. But we will answer that question in the next chapter. In sha Allah.

Today’s column is an excerpt from the book, “Making Social Science of Islam” by Ibraheem Dooba

Are Rich People Happier Than Poor People? - Daily Trust (2024)

FAQs

Are rich people happier than poor people? ›

According to a new study by Matthew Killingsworth, a senior Wharton School fellow at the University of Pennsylvania, the ultra-rich are far happier than people earning $500,000 a year, who are themselves notably happier than low- and middle-income earners.

Would you be happier if you were rich? ›

Those with incomes over $90,000 are nearly twice as likely to report being “very happy” as are those with incomes below $20,000, although there is hardly any difference between the highest income group and those in the $50,000-89,999 bracket.

Do you think people are happier if they have money? ›

The Relationship Between Money and Happiness

Money alone doesn't bring happiness, but researchers have found evidence supporting the connection between financial security and increased happiness and well-being. That said, researchers do note that money isn't the only factor contributing to happiness.

Can a person be poor but still happy? ›

By focusing on our personal growth, taking care of our physical and mental well-being, and embracing a mindset of abundance, we can find happiness that is not dependent on our financial situation. One key aspect of self-care is ensuring we get enough rest and sleep.

Are rich people less stressed than poor people? ›

In addition to those well-documented costs, it turns out that the poor not only experience more stress than the rich on a daily basis, but it is also more likely to be “bad” stress, which can have long-term effects on the ability to plan for and invest in the future.

Is it better to be rich or happy? ›

Doing a job they love is more important than a higher salary. The phrase 'money can't buy happiness' dates back to the eighteenth century, but it seems it's still true in modern day America – at least when it comes to employment.

Does wealth make you happier? ›

After re-examining the data, the authors of the collaborative paper concluded that more money is associated with more happiness for most, but not all, people. For 80% of people, happiness continues to rise with income past $75,000.

What makes you happier than money? ›

Spend time with friends and family

Social time is highly valuable when it comes to improving our happiness, even for introverts. Several studies have found that time spent with friends and family makes a big difference to how happy we feel, generally.

Does having money bring happiness? ›

This just in: money apparently does buy happiness. A new study conducted by a senior fellow at the Wharton School at the University of Pennsylvania found an increasingly positive association between money and happiness.

Can too much wealth make you unhappy? ›

“For example, being richer and more powerful can give someone a sense of entitlement and enough ego that they would be unfaithful to their spouse,” he said. “As a result, their marriage could crumble, their relationships with their children can become strained and they could eventually feel unhappy and lonely.”

Can you ever be truly happy without money? ›

Yes, it is absolutely possible to feel happy without having money. Happiness often comes from factors like meaningful relationships, personal fulfillment, good health, and positive experiences, which aren't solely dependent on wealth.

How does being poor affect happiness? ›

At the same time, research illustrates that people with lower incomes are twice as likely to experience depression and that a drop in household income increases the risk of mood disorders. This paints a bleak picture for people living in poverty or on low incomes.

Who is healthier the rich or the poor? ›

The rich live longer and are healthier

A study from the US shows that the difference in life expectancy between the poorest and richest one per cent of the income distribution was nearly 15 years for men and 10 years for women. While rich men lived to an average of 87.3 years, the poor lived to 72.7 years.

At what income does happiness peak? ›

A new study from a group of scientists found that the limit in terms of whether money can buy happiness starts to max out once someone hits $500,000 a year. It's a far cry from past research, in which one study established the idea that happiness plateaus after $75,000.

Do the rich live longer than the poor? ›

They Also Get More Healthy Years. (Published 2020) Wealthy men and women generally have eight to nine more years of “disability-free” life after age 50 than poor people do, according to a new study of English and American adults.

How can you tell if someone is rich? ›

  1. Minimalist Homes: Where Less Is More. ...
  2. Low Profile Luxury Cars: Driving Discretion. ...
  3. High-quality Wardrobes with Minimal Brand Identification: Style with Substance. ...
  4. Real Generational Wealth: Steadfast Stability. ...
  5. Subtle Signs of Real Estate Investment: Property Portfolio. ...
  6. Pearliness of Their Whites: A Smile of Affluence.
Dec 14, 2023

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