Wednesday, July 2, 2008

Money Doesn't Buy Happiness?

If you think my health and fitness views are a little unorthodox you may not be surprised to find out my financial views are quite contrary to what you may have heard as well.

While the majority of people believe wealth is evil and that those with money are just lucky I will be the first to tell you that money is not evil and those that have it have learned how money works and that's why they have it. In case you think that money does not provide at least some degree of happiness see this quote below:

The research by Stevenson and Wolfers shows that people living in households with annual incomes of $250,000 tended to report higher levels of personal satisfaction than people living in households with annual earnings of $120,000.

"We didn't look at the super-rich, so we can't really say if Bill Gates is that much happier than the rest of us," Stevenson says.

IMHO, money is like a magnifiying glass. If you are basically a good person having money can only make you better. If you are a bad, selfish person money will only make you worse.

On another note, wealth and business expert Dani Johnson is fond of saying;"Greed doesn't have an amount!" In other words the street bum who would kill for $20 is just as greedy as the millionaire who wants another million. It all depends on the intent and method for the money.

To illustrate just how belief driven money is if only 6% of American families live well above the norm for income clearly they have some different beliefs about how to handle their finances.

About 1% of American families have annual incomes of $250,000 or more, while just 5% earn $120,000 or more.

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