Money does make you happier, new study finds.

[audreyh1]

I wonder sometimes about our American preoccupation with happiness. Sometimes, we seem to measure our success in life in terms of how happy we are. We put on a happy face, because there is the cultural expectation that we should be happy, and if we're not, something is wrong. I fall into this trap myself, so I'm not pointing fingers.

Well it’s right there in the Declaration of Independence!

Well if we are preoccupied with it , we're not doing a very good job. The last 5 years in a row the Finns have been recognized as the happiest country in the world. The US only came in 16th place last year.
Overall rank Country or region
1

Finland
2

Denmark
3

Iceland
4

Switzerland
5

Netherlands
6

Luxembourg
7

Sweden
8

Norway
9

Israel
10

New Zealand
11

Austria
12

Australia
13

Ireland
14

Germany
15

Canada
16 United States
17 United Kingdom
18 Czech Republic
19 Belgium
20 France

Right - seems like European quality of life is so much higher, and they are not nearly as materialistic. They also have a lot more vacation to enjoy. Different work/life balance. Broad brush I know.

 

[Koolau]

Well it’s right there in the Declaration of Independence!


Right - seems like European quality of life is so much higher, and they are not nearly as materialistic. They also have a lot more vacation to enjoy. Different work/life balance. Broad brush I know.

Yeah, I'm sure a lot of people are happy all over the world. Still, I can't think of any other country I'd rather live in - Visit; yes. Appreciate; yes. Admire; yes. But live; I think not though YMMV.

 

[MarieIG]

I would believe frugal and good savers in life have that common trait of not be wasteful. It is something I work very hard on each day to not be wasteful.

I also believe having enough makes us happy for may reason. Distinguishing them can be so rewarding to having more than we need.

For some years now, I been wanting to help people that come to a local cancer treatment center. My thought is to be able to give a voucher of $5 off a meal at the hospital cafeteria. My thought be to prepay $100 worth of $5 voucher tickets to cafeteria group. These vouchers would be a there for a family or person who would like to take one for a discount on a meal. Most of these people come from out of town and costs can be overwhelming for people. I would be able to help in a small way but might mean a world of difference to that person.

A $100 would help 20 people with a discount meal.

I think that is a fantastic idea Street.

 

[Surewhitey]

Well if we are preoccupied with it , we're not doing a very good job. The last 5 years in a row the Finns have been recognized as the happiest country in the world. The US only came in 16th place last year.
Overall rank Country or region
1

Finland
2

Denmark
3

Iceland
4

Switzerland
5

Netherlands
6

Luxembourg
7

Sweden
8

Norway
9

Israel
10

New Zealand
11

Austria
12

Australia
13

Ireland
14

Germany
15

Canada
16 United States
17 United Kingdom
18 Czech Republic
19 Belgium
20 France

Too cold for me. No thanks

 

[NW-Bound]

Too cold for me. No thanks

Yes, it's cold in those "happy" countries, but perhaps they don't lose power often due to the weather.

Here in the US, I imagine I would be miserable with a power loss which seems to be happening more frequently, which has not happened yet where I live (fingers crossed).

 

[finnski1]

Yeah, I'm sure a lot of people are happy all over the world. Still, I can't think of any other country I'd rather live in - Visit; yes. Appreciate; yes. Admire; yes. But live; I think not though YMMV.

No plans to leave for me either. Very content here.
However if I did need or want to leave for whatever reasons, there are some countries on there that I could see myself in.

 

[jollystomper]

From what I've read, it is important to distinguish between "happiness" and "life satisfaction."

I look at it as "happiness" vs. "contentment". I view "happiness" as a short term, in the moment feeling. I view contentment as a long term, steadier view. Kind of like looking at the market's daily changes vs. the market's change over 10, 20 years .

I am happy in the moment now, because all of our household appliances are working. Should one suddenly fail, I will not be happy about it. But I will be content, knowing that I can get it repaired on replaced without making a tradeoff of, say, having to eat, or giving up some desired activity like a vacation, or having to seek extra employment or borrow money for the repair/replacement

Well it’s right there in the Declaration of Independence!

"Pursuit of happiness" is in the Declaration of Independence, not happiness itself. Too many read that as a "guarantee" of happiness, thus leading to disappointment when they do not achieve the happiness they think they deserve. There is no guarantee. The right given is the ability to go about figuring out what what you happy, within the context of life and liberty, and not violating others of those things in the process. And oftentimes, the pursuit reveals that what makes you "happy" is far different that what you thought, which (IMHO) is the pat to contentment.

 

[jollystomper]

Yes, it's cold in those "happy" countries, but perhaps they don't lose power often due to the weather.

In addition, those "happy" countries have probably screened out those who would complain about the weather, which would increase the overall "happiness" assessment .

 

[Andre1969]

a lot of those "happy" countries are also more like states. For instance, Finland, #1 has a population of about 5.5M. The state I live in, Maryland, has a population of around 6.1M.

The United States is just too large, and has too much variety, to compare to most of those countries. If anything, a more proper comparison would probably be the US to all of Europe, where you take the good and the bad, and try to balance it out. For instance, Finland might be the equivalent of some Shambala retirement community, but then the Ukraine is like Baltimore or St. Louis.

 

[Bigdawg]

a lot of those "happy" countries are also more like states. For instance, Finland, #1 has a population of about 5.5M. The state I live in, Maryland, has a population of around 6.1M.

Was thinking the exact same thing but wasn't going to post this morning. Just read.

These generalized broad declarations are interesting but overall vague and unactionable. "Hey, I'm unhappy. I'm moving to X country because this article/study says that people there are happier." If anything, I would be interested in the factors (besides geography) that makes those folks happier and try to impliment some of those in my life.

 

[Gumby]

I suspect it is easier to be happy in most places if you have enough money.

 

[socca]

I've mentioned before that I'm not fond of the 'happiness' concept, preferring four dimensions to measure the well-being of a human:
(1) physical
(2) mental / emotional
(3) mental / intellectual
(4) financial.

Humans who score high on all four dimensions are fun to be around but are difficult to find. If you've lived long enough you've met people occupying states all over this state space. I have yet to meet someone scoring exceptionally low on one of these dimensions who would nevertheless characterize themselves as 'happy'.

 

[Bigdawg]

I've mentioned before that I'm not fond of the 'happiness' concept, preferring four dimensions to measure the well-being of a human:
(1) physical
(2) mental / emotional
(3) mental / intellectual
(4) financial.

Humans who score high on all four dimensions are fun to be around but are difficult to find. If you've lived long enough you've met people occupying states all over this state space. I have yet to meet someone scoring exceptionally low on one of these dimensions who would nevertheless characterize themselves as 'happy'.

Interesting take. I'll go ahead and score myself:
(1) physical-7.5 out of 10. Need to lose a few pounds. Have been ramping up my exercise.
(2) mental / emotional-9. Never been a hi/low emotion guy. Sort of meh.
(3) mental / intellectual-8. Know I need intellectual stimulation now that I am RE. I read and am involved in many intellectually stimulating activities.
(4) financial.-9.5. Very satisfied with mutiple COLA pensions for DW and myself. My only negative is my $ leaks. Some of you are so proficient regarding grocery shopping on the right days, discounts, using credit card points, etc... I don't need too, but would like to get better at that sort of financial stuff.

 

[EarlyandLate]

Well if we are preoccupied with it , we're not doing a very good job. The last 5 years in a row the Finns have been recognized as the happiest country in the world. The US only came in 16th place last year.
Overall rank Country or region
1

Finland
2

Denmark
3

Iceland
4

Switzerland
5

Netherlands
6

Luxembourg
7

Sweden
8

Norway
9

Israel
10

New Zealand
11

Austria
12

Australia
13

Ireland
14

Germany
15

Canada
16 United States
17 United Kingdom
18 Czech Republic
19 Belgium
20 France

I don't really think that happiness is the correct way to look at this whole topic. Some previous posters have already touched on this. It is really the lessening of anxiety and stress that is the beneficial effect of more money... to a point. I lived in one of the top countries in the above list for two years. I was fascinated with the social democracy system and how it functioned. I informally interviewed people about it the whole time I lived there. There is a lot to be said for having social safety nets in place such that misfortune will not leave you and your family homeless and hungry and you will have healthcare throughout your life. People there did not have to have such huge personal savings in order to be assured of a decent amount of security or a comfortable retirement. In such circumstances you are more free to pursue the things that interest and engage you.

 

[EarlyandLate]

"Pursuit of happiness" is in the Declaration of Independence, not happiness itself. Too many read that as a "guarantee" of happiness, thus leading to disappointment when they do not achieve the happiness they think they deserve. There is no guarantee. The right given is the ability to go about figuring out what what you happy, within the context of life and liberty, and not violating others of those things in the process. And oftentimes, the pursuit reveals that what makes you "happy" is far different that what you thought, which (IMHO) is the pat to contentment.

This is a common misquote. I have seen the actual document and it actually says "purfuit of happineff". We apparently have lost the meaning of that archaic phrase.

 

[GravitySucks]

Only up to about $75K, AFTER THAT IT DROPS OFF.

I assume your noting the 2010 Princeton study.
The BlS inflation calculator says that 2010 $75k would be equivalent to $103k today.

(Double what I’m living off this year. Must be why I’m so sad.)

 

[finnski1]

I don't really think that happiness is the correct way to look at this whole topic. Some previous posters have already touched on this. It is really the lessening of anxiety and stress that is the beneficial effect of more money... to a point. I lived in one of the top countries in the above list for two years. I was fascinated with the social democracy system and how it functioned. I informally interviewed people about it the whole time I lived there. There is a lot to be said for having social safety nets in place such that misfortune will not leave you and your family homeless and hungry and you will have healthcare throughout your life. People there did not have to have such huge personal savings in order to be assured of a decent amount of security or a comfortable retirement. In such circumstances you are more free to pursue the things that interest and engage you.

Well I don't really like the "happy" moniker either but prefer the term contentment and security or peace of mind. In those terms I do believe these countries do better for the very reasons you mentioned. Not worrying about a bankrupting disease or having to pay hundreds of thousands for kids educations does free you up to be more content to pursue other life enriching opportunities.

 

[braumeister]

This is a common misquote. I have seen the actual document and it actually says "purfuit of happineff". We apparently have lost the meaning of that archaic phrase.

Actually, we just stopped using the long s.

A Short History of the Long S

 

[W2R]

After briefly scanning through this thread, it appears to me that everyone here thinks money makes you happier as in the title story.

I think you're all bat$$$$ crazy, off your rockers, crazier than a flock of loons But hey, somebody's got to be different and that's me.

I think that money does make you happier until you have enough to eat, drink, and have some modest, reasonably adequate shelter from the elements and safety from criminals or wild animals.

Once I have that much, plus about $20K maybe to repair/replace things that break now and then, I don't think having more makes me happier.

 

[foxfirev5]

Nice perspective W2R. I can't argue with that.

 

[ls99]

Is this happiness thing linear $ to $$$$$$$$$........? Or Exponential, what point hits dimishing returnes?
How giddy is the multi gazzillioner?

Me, never had a million nor am I likely, not interested in pushing for it either, do have enough to do anything I want. Life is good.

 

[Letj]

After briefly scanning through this thread, it appears to me that everyone here thinks money makes you happier as in the title story.

I think you're all bat$$$$ crazy, off your rockers, crazier than a flock of loons But hey, somebody's got to be different and that's me.

I think that money does make you happier until you have enough to eat, drink, and have some modest, reasonably adequate shelter from the elements and safety from criminals or wild animals.

Once I have that much, plus about $20K maybe to repair/replace things that break now and then, I don't think having more makes me happier.

This!! That’s me. I would take my freedom to pursue my own interest any day than more money. No amount of money will make me give that up.

 

[marko]

After briefly scanning through this thread, it appears to me that everyone here thinks money makes you happier as in the title story.

I think you're all bat$$$$ crazy, off your rockers, crazier than a flock of loons But hey, somebody's got to be different and that's me.

I think that money does make you happier until you have enough to eat, drink, and have some modest, reasonably adequate shelter from the elements and safety from criminals or wild animals.

Once I have that much, plus about $20K maybe to repair/replace things that break now and then, I don't think having more makes me happier.

How much money is enough? "Just a bit more" J D Rockefeller

 

[11522914]

This!! That’s me. I would take my freedom to pursue my own interest any day than more money. No amount of money will make me give that up.

Well said. Once the basics are covered, the freedom to just simply "be" whatever I choose in the moment is worth far more than any amount of money.

In 4 years of retirement I found that once the basics are covered it really doesn't take much money at all for me to be content. Far, far, FAR less than the average portfolio size in this group.

 

[Gumby]

How much money is enough? "Just a bit more" J D Rockefeller

A little more than the neighbors.