On the other hand, there are many wealthy people who are unhappy, with their wealth or otherwise.
I had the honor (but not the pleasure) of working closely with a guy whose personal wealth was estimated at half a billion or so, all self made. There was nothing he wanted he couldn’t afford. And yet he was incredibly unhappy almost all the time - I caught an occasional glimpse of happiness from him after he would come back from a weekend fishing alone, or when some-list-or-other of wealthy people bumped his rank up in their listings.
When someone like like Sivers says “I was happy before the money and money didn’t make me happier”, I believe him.
In fact, I’ve known many people who made fortunes, and quite a few who lost fortunes and some who lost family to terror attacks. Other than a transient effect after specific events (good or bad), everyone reverted to their pre-event happiness levels.
Having money is an incredible daily-stress reliever. But according to my life experience, it has very little effect on happiness.
This falls in line with studies that show when most people hit the upper middle class, more money doesn’t automatically equate to happier. And if someone doesn’t have a purpose beyond money, I could see more money making them less happy. “What do I do now?”
I had the honor (but not the pleasure) of working closely with a guy whose personal wealth was estimated at half a billion or so, all self made. There was nothing he wanted he couldn’t afford. And yet he was incredibly unhappy almost all the time - I caught an occasional glimpse of happiness from him after he would come back from a weekend fishing alone, or when some-list-or-other of wealthy people bumped his rank up in their listings.
When someone like like Sivers says “I was happy before the money and money didn’t make me happier”, I believe him.
In fact, I’ve known many people who made fortunes, and quite a few who lost fortunes and some who lost family to terror attacks. Other than a transient effect after specific events (good or bad), everyone reverted to their pre-event happiness levels.
Having money is an incredible daily-stress reliever. But according to my life experience, it has very little effect on happiness.