Financial wealth and contentment: A reexamination of their relationship
Money might not be the all-in-all for happiness, according to researchers. Daniel Kahneman and Matthew Killingsworth have demonstrated that indeed, a higher income tends to lead to more happiness. However, wealth researcher Thomas Druyen points out that this isn't a simple equation. There are more factors at play here.
BUSINESS INSIDER spoke with Druyen, who elaborated on the idea that happiness isn't just about the numbers in your bank account. Income might be the foundation for well-being, but it's far from the be-all and end-all.
"Happiness isn't a math problem," Druyen indicates. He goes on to say that social relationships, purpose, health, personal freedom, and psychological factors all play significant roles in happiness. Income, in this context, is merely one piece of the puzzle.
Strong social connections with family, friends, and community contribute to emotional well-being and life satisfaction. Engaging in activities that give you a sense of purpose and fulfillment are essential. Physical and mental health are crucial for sustained happiness beyond financial wealth. The ability to make choices and control your life situation also adds to happiness. Attitudes, gratitude, and resilience, too, influence one's perception of well-being, regardless of income. These are the various factors that contribute to happiness beyond mere monetary wealth.
What factors contribute to happiness beyond personal-finance, according to Thomas Druyen? Social relationships, purpose, health, personal freedom, psychological factors, strong social connections with family, friends, and community, engaging in activities that give a sense of purpose and fulfillment, physical and mental health, the ability to make choices and control life situation, attitudes, gratitude, and resilience.
