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I really don't like this moralizing but more importantly there's increasing evidence that wealth does correlate with life satisfaction. > The data showed the h

by nl 10mo ago

I really don't like this moralizing but more importantly there's increasing evidence that wealth does correlate with life satisfaction. > The data showed the happiness gap between wealthy and middle-income participants was wider than between middle- and low-income participants. And the apparent reason: > He said: “A greater feeling of control over life can explain about 75% of the association between money and happiness. So I think a big part of what’s happening is that, when people have more money, they have more control over their lives. More freedom to live the life they want to live.” https://www.theguardian.com/us-news/article/2024/jul/18/money-buys-happiness-study# https://www.theguardian.com/us-news/article/2024/jul/18/mone...

elcritch 10mo ago
Sure, but I’d argue that it’s largely reduced stress rather than raw materialism. For example being able not to worry about paying both the electric bill and a child’s dental work this month. There’s many other research that corroborates this view. After some point increasing income didn’t increase life satisfaction. Usually somewhere in the low upper-middle class region.
- nl 10mo ago
  > After some point increasing income didn’t increase life satisfaction. Usually somewhere in the low upper-middle class region. That's the common assumption that this research repudiates. > These findings are counter to a widely covered 2010 study that found happiness rises with income, but plateaus at around $75,000. He studied much richer people: > Killingsworth also used data from the ultra-wealthy (people with a median net worth between $3m and $7.9m), which is often lacking and difficult to obtain. > The data showed the happiness gap between wealthy and middle-income participants was wider than between middle- and low-income participants. > His study also found wealthy individuals were “substantially and statistically significantly happier than people earning over $500,000 each year”.

by nl 10mo ago

elcritch 10mo ago

Sure, but I’d argue that it’s largely reduced stress rather than raw materialism. For example being able not to worry about paying both the electric bill and a child’s dental work this month. There’s many other research that corroborates this view. After some point increasing income didn’t increase life satisfaction. Usually somewhere in the low upper-middle class region.

nl 10mo ago
> After some point increasing income didn’t increase life satisfaction. Usually somewhere in the low upper-middle class region. That's the common assumption that this research repudiates. > These findings are counter to a widely covered 2010 study that found happiness rises with income, but plateaus at around $75,000. He studied much richer people: > Killingsworth also used data from the ultra-wealthy (people with a median net worth between $3m and $7.9m), which is often lacking and difficult to obtain. > The data showed the happiness gap between wealthy and middle-income participants was wider than between middle- and low-income participants. > His study also found wealthy individuals were “substantially and statistically significantly happier than people earning over $500,000 each year”.