The Happiness Lottery

even if we accept the “flatline” empirical result on happiness and wealth, these self-reported happiness questionnaires are given to individuals in normal life circumstances. The answers will not pick up the ability of wealthier economies to postpone or mitigate extreme tragedies. For instance, happiness measures cannot pick up the benefits of grea

Once you earn enough to comfortably pay the bills, non-financial factors such as good health, relationships, and a sense of purpose become far more important than money. It’s no coincidence that these areas of life also tend to be most resistant to hedonic adaptation.

People who have more money are not necessarily happier—though some are. If anything, money alleviates sadness more than it inspires joy. In day-to-day living, beyond a modest income, more money doesn’t help. But research reveals that those who live with purpose and embrace the adaptive self tend to be more content. In that case, money—when spent wi