These two terms belong together don’t they - Wealth and Happiness? Do you remember a time in your life where you weren’t making much money? You probably weren’t very happy.
Maybe it was during college, or when you first started a business – perhaps it’s now and you’ve lost your job recently. One thing that often goes through our minds if we were honest with ourselves is this:
If only I had a bit more money, then I wouldn’t be so strapped and could actually enjoy life!
What’s ironic is that not only do many poor people feel this way, but what I’ve often noticed is that many wealthy people feel this way too!
John D. Rockefeller famously answered, “Just a little bit more” when asked the question how much money is enough.
I went to a business planning session yesterday with a group of advisors and one gentlemen mentioned how America is the richest nation in the world - yet the most depressed!
How could this be? The answer is clearly that wealth does not equal happiness!
After you arrive at a certain standard of living that affords you the basics - house, food, clothing etc. – any correlation between happiness and money is short lived!
Think about it, all those things you thought would make you happy didn’t really bring you happiness. Be honest. How long after you achieved that goal or that wealth did you say to yourself:
Is that it? What can I accomplish now?
1 Timothy 6:17-19 offers a little perspective about the rich and their attitude towards money:
As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. 18 They are to do good, to be rich in good works, to be generous and ready to share, 19 thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life.
What’s interesting about this passage is that the Apostle Paul tells us that in order to enjoy our wealth and our lives our hope should be set on God.
He also tells us that the rich should be generous, ready to share, doing good and their wealth shouldn’t define them, but rather their good works (rich in good works).
Now, some of you might say, but I’m not rich. I dare you to go to the Global Rich List - type in your annual income and compare yourself to the rest of the world! Then let me know what percentile you are in!
You are wealthier than you think – and that wealth won’t bring you ultimate happiness. You want true happiness? Put your hope in God, through Jesus Christ and be generous!
I love this topic. From my perspective, I absolutely became happier the more I made. However, after about $250,000 a year, it doesn’t really make much of a difference. We can all probably comfortably live off $150k/yr, so the rest is just gravy, or savings if you will.
There’s never enough money to earn, so you just have to cut it off. The marginal happiness gets less and less. After the 250K-500K range, you won’t be much happier until you get to $750-1mil I don’t think.
Going from $30,000 to $150,000 though.. not that’s some big time happiness improvement imo.
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“Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. This too is meaningless.” Ecc 5:10
You’re really on to something here! A survey some years back showed that, on average, people believe happiness will be found at an income level 25% higher than what they presently earn.
If that’s true, we’re all chasing our tails.
It should be enough for us to earn enough to be comfortable, to owe no one, and to have some reserves for just in case. Everything beyond that is pretty much a power grab.
Hey Samurai! Thanks so much for the comment. Interesting take. Do you think those making $30k can be happy or just that if they were making $60 or $120k they’d be happier?
I’ve talked with folks who have been to Africa and China and talked with impoverished Christians there who have more joy than anyone in the US. To me, after a certain degree the correlation is minimal if not negative where the more money you have the unhappier you get.
Hi Jason – I definitely think those who make $30k can be as happy as any other income group, but I do believe when they move up the income scale they will be much more happy than someone going from $120k-200K for example.
It’s just about going beyond the bare necessities of life. That said, if all the 30k/yr year did was surround him/herself with others who make similar salaries, then it’s all good! Everything is relative.
I enjoyed living off $200/month as an exchange student for 6 months once summer in Asia. It was one of the best times of my life!
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Yeah, you make an interesting point. When we compare ourselves to others making more – we tend to think we need to keep up with them in order to be happy.
Perhaps we need to stop comparing ourselves and be content with what we have. That’s hard to do, but something we maybe should aim for.
That’s interesting you say that about studying abroad and only living off $200/mo. It wasn’t about the money at all.
@Kevin – That’s a great point and an insightful stat. Goes to show that we never really “have enough” unless we learn the secret of contentment like the Apostle Paul did!
Jason, this is a good discussion topic. I recently posted on this topic as well. Studies have shown that beyond meeting basic needs (food, clothing, shelter) that having more money doesn’t make us any happier. Some studies have shown, however, that experience spending does tend to make people happier. This type of spending includes giving and recreational activties (experiences) that we tend to remember. But as you say, putting your hope in God and His son Jesus Christ is the one and only true path to happiness!
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@Jason – Thanks for the comment! I would agree with experience spending. After a certain point however no amount of it will bring any more happiness.
Again, I think that there will be a certain degree of happiness with experience spending, but it doesn’t last.
The “returns” on spending for happiness will diminish over time.
The Global Rich List really puts things in perspective, doesn’t it? FS- It’s crazy, but true, one can make $200K or $250K and manage to budget it in a way that another $20K/yr can be welcome. Even without living a Rich lifestyle.
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