My First Million cover image

Brainstorming Ideas with The $200M Man

My First Million

NOTE

The Effect of Net Worth on Happiness

Having the ability to afford luxuries like a private jet can bring a sense of freedom, which in turn increases happiness. Other things that contribute to happiness include hiring a personal assistant or someone to take care of household tasks. These activities provide more freedom and happiness than material possessions. Happiness scales that measure income and net worth have limitations, but research suggests that higher income and net worth do bring more happiness. While the rate of happiness increase may vary, there is evidence that increasing income and net worth leads to increased happiness.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner