The insane amount of money millionaires need to be happy

[Yo_Mama_Been_Loggin]

If happiness has a price tag, it doesn’t come cheap.

Researchers from Harvard Business School recently asked more than 4,000 millionaires to rate how happy they were on a scale of 1 to 10. Respondents with at least $8 million scored higher than sad sacks with $7.9 million or less, but there’s a catch: the majority of all millionaires said that to be perfectly happy, they’d need to grow their wealth immensely.

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That big existential question of whether or not money can buy happiness was also met with a shrug. Only at high levels of wealth ($8 million or more) were respondents found to be “happier” than those with lower levels of wealth, and the differences were modest; less than half a point on a 10-point scale.

Researchers aren’t exactly sure why $8 million is the tipping point. Maybe that’s the magic number that puts high net worth individuals ahead of their peers, boosting their perceptions of self-worth. Or maybe $8 million is the threshold where millionaires feel their money is secure enough to spend freely on things like charity and big gifts.

The answer could also be tied to how millionaires make their money. For the study’s final question — whether source of wealth is a predictor of happiness — researchers asked respondents what percentage of their wealth was “earned,” versus inherited or acquired through marriage. Millionaires who made their wealth on their own, they found, were indeed happier than those who hadn’t.

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“If inheriting wealth makes you less happy,” he says, “perhaps you shouldn’t give it you your kids.”

https://www.msn.com/en-us/money/savingandinvesting/the-insane-amount-of-money-millionaires-need-to-be-happy/ar-BBH3OjG?li=BBnbfcN&ocid=edgsp

[Chasstev365]

1. They don't just want money; they want you NOT to have money!

[BigmanPigman]

4. Good point!

They want to first bankrupt then kill us. The GOP is a group of greedy, hypocritical sociopaths.

[Bradshaw3]

2. The richest aren't the happiest

Ed Diener is a psychology professor at Illinois who is known as the happiness researcher. His studies have shown that those in the $40,000 to $250,000 bracket are the most happy while those above are second and last are those under $40,000. Cost of living from state to state affects the numbers a little, but his research has shown that once above $40,000 is where the basic needs of housing, healthcare, etc. are taken care of, people find happiness without the emphasis on money, money, money that the rich have - and probably why more doesn't make them happy.

[Irish_Dem]

3. It's an addiction. No amount of money is enough.

Like no amount of alcohol or cocaine is enough for an addict.

The greedy and corrupt seem to have a hole in their souls, no amount of money will fill it up.

[Puzzledtraveller]

5. I have thought this so many times

Like they can't stand to give up 1 penny, it would kill them to. And how much do you need, you can't take it with you. Is it just basic human nature amplified to an obscene degree, like our earliest ancestors, foraging for berries and one man always had to have more, and take more from weaker humans and then build up defenses and buy off other humans to bring him more berries and to protect his cache, and how, because he let them have a few of his? Sounds like this tax scam, sure some may get an extra berry this year but eventually they be giving them up, more and more.