The debate surrounding rich or affluent lifestyles and happiness is quite discomforting and deafening for many individuals because it involves things that are often deemed anti-establishment. The debate also turns intense when you compare the two i.e. rich and happiness as many rich people are not living a happy life. Moreover, it is a naked truth – the difference in the income gap between rich and poor people is steadily growing, where the billionaires control over 90% of the world economy. The year is 2021, and it can give you an idea of what is happening with rich people that so many poor people are at their mercy.
According to Alex Monaco, an author of motivational books and the most honest blogger in the world, successful and rich people often cling to activities that are not eternally valuable and lack motivation, determination, and selfless love, which is necessary to attain happiness and an accomplished life.
Successful people are not happy – What research tells us about rich people and happiness?
A Harvard Business Review article reasons that rich and affluent people often lack generosity in both monetary and behavioral aspects. A research journal published by the American Psychology Association after surveying over 200,000 people in the US underlines that “being generous had a positive effect on one’s happiness in a whopping 93% of (120 of 136) countries”.
Another Harvard report urges rich people to be more effective with their spending and expenditures. This is a genuine reason considering the quality spending you made when you were very rich. This also showcases your charitable heart – remember, success is not about getting but giving.
A University of California, Davis paper outlines that rich people can buy fun and pleasure comfortably but the same can also invite negative elements like unhappiness and eternal security. The report also identifies that though rich people in the US are very happy and content yet the happiness index has not shown any significant increase since World War 2.
Another research article made by Daniel Kahneman and Angus Deaton tells that although a higher income enhances life evaluation, it does not promote emotional wellbeing. They reiterate criticisms explaining both life evaluation and emotional wellbeing have different correlates.
The overall comprehension from the aforementioned researchers is that though money and rich life have brought immense pleasure and comfortable life it was not enough for bringing long-term happiness and wellness. Rich people have bought fame, money, and success but in a limited way, i.e. successful people may often turn unhappy and lonely.
3 main reasons why successful people are not happy
- Extreme success and affluence or wealth can lead to social isolation, unhappiness, and even depressed life whenever people priorities the amount and quantity of their personal social relationships over the materialistic goals and other moral values connected with accomplishment and wellness.
- Long hours at the job, continual criticism from pessimists and negative individuals, difficulty to stay on a routine, and a lack of family engagement can all contribute to mental health issues. This is why today’s wealthy and successful people are not happy.
- Lack of wisdom and worldly knowledge can also eliminate the happy part in people who are rich and successful. Moreover, with a lack of leaders and guides to follow, the situation can turn ugly when you are very rich and successful.