Money Increases Happiness by 67%


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Has your hot water heater ever broken down? Has the roof of your home ever leaked? Have you ever had a major car problem? Do you have kids that go to college and the tuition must be paid before you send them off to school?

When you face one of these common problems, what’s your initial reaction? If you’re like most, thee problems create what we call stress. And stress makes you unhappy.

When you are poor or struggling financially, these problems and the unhappiness they create can linger for days, weeks or even months. Because you lack the money to immediately solve the problem, you must either borrow the money to fix the problem, apply some band aid solution which makes the problem go away temporarily or live with the consequences of not solving the problem.

Rich or poor, everyone faces common problems.

I spent the past 12 years studying the rich and the poor (Rich Habits Study) and found that there were 12 frequent big problems almost everyone has to contend with:

  1. Health Problems
  2. Financial Problems
  3. Family Problems
  4. Neighbor Problems
  5. Home Repair Problems
  6. Car Problems
  7. Addiction Problems
  8. Job Problems
  9. Relationship Problems
  10. Death or Disability Problems
  11. Time Management Problems
  12. Weather Problems

These are all common, modern day problems almost everyone, rich or poor faces. And these problems create unhappiness for everyone. The big difference between the rich and the poor, is that the rich are able to easily overcome and eliminate most of these problems and thus, eliminate the unhappiness these problems create.

When I analyzed my study data, I discovered that, out of all of these modern day problems, the rich really only struggle with four of these problem areas:

  1. Family Problems
  2. Health Problems
  3. Time Management Problems and
  4. Weather Problems.

If you do the math, that’s only 33% of life’s problems that the wealthy have to contend with. Or, looking at it another way – being rich eliminates 67% of life’s major problems. Being rich, therefore, eliminates 67% of life’s unhappiness.

Let’s delve into this in a little more detail. 

#1 Health Problems

According to my research data, 76% of the rich do some form of cardio exercise every day for about thirty minutes. The science on the health benefits of cardio exercise is clear – cardio exercise improves your health and extends your life. But what about cancer? Cancer is fairly democratic in that it plagues the rich and the poor alike, however, studies indicate that a poor diet increases the incidence of cancer. According to my research the rich and the poor had very different diets. The rich ate significantly less junk food, consumed significantly less alcohol, avoided fast food restaurants and consumed far less sugar than the poor did. On top of all this, the rich have the financial means to secure the best medical care, in the event something does go wrong.

#2 Financial Problems

The only financial problems the rich have, involves managing their money and investments. One hundred percent of the rich in my study owned their own home and 84% had no mortgage.

#3 Family Problems

Rich or poor, we cannot control family problems. Having a family means you will deal with a whole host of family issues.

#4 Neighbor Problems

The rich have the luxury to pick their neighbors. They can afford to find the best places to live. And if they decide they can’t tolerate their neighbors, they have the financial ability to move to a better neighborhood.

#5 Home Repair Problems

If the central air conditioning system breaks, the rich have the money to fix it immediately. When it comes to major repairs, the only issue for the rich is how fast the electrician, plumber or carpenter can get the job done. There are no financial concerns for the rich when something goes wrong with their home.

#6 Car Problems

If something goes wrong with their car, the rich can afford to get it towed to a repair shop or simply buy a new car.

#7 Addiction Problems

Drugs are a blight on society. No one, not even the rich, can escape this blight. The big difference is that the rich can afford to send themselves, their spouse or their children to the best and most effective drug rehabilitation centers. The rich have the financial resources to secure the best care in dealing with addiction problems.

#8 Job Problems

According to my data, 86% of the rich like or love what they do for a living. Because they like or love what they do for a living, they do a better job. They have no fear of being fired because they either own their own business (51% of the rich in my study owned their own business) or they are a decision-maker where they work (91% in my study were decision-makers), meaning they do the firing.

#9 Relationship Problems

According to my data, relationships are the currency of the wealthy. The rich surround themselves with other like-minded people who share their goals, dreams, thinking, morality and virtues. They devote an enormous amount of time to managing their success relationships and they make a habit of avoiding toxic relationships. Plus, because they are rich, they are treated differently by others. Rich people can help those who are not rich in any number of ways, so they are treated with kid gloves by those who are not rich.

#10 Death/Disability Problems

Death or disability can happen to anyone at any time, rich or poor.

#12 Time Management Problems

Sixty-five percent of the rich have at least three sources of income to manage. as a result, they are constantly pressed for time in managing those activities. Plus, 91% of the rich are decision-makers where they work. Responsibility follows decision-makers wherever they go, even on vacations. Time management is a constant problem for the rich.

#12 Weather Problems

Do I need to even address this? Weather affects everyone, rich or poor.

When you are rich, you can eliminate common, everyday problems, and thus eliminate the unhappiness associated with those problems. When you are poor, these problems linger and often create long-term unhappiness.

If you were to boil life down to its very core, we are all ultimately seeking the same thing – happiness.

So, the next time someone tells you money can’t buy happiness, don’t buy what they’re selling.

Far too many who have been indoctrinated into the belief that the pursuit of wealth is evil or bad. This belief is a negative or limiting belief and it will hold you back from pursuing wealth.

Wealth is good because wealth does buy happiness. And that’s something everyone wants and deserves.

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
Email Tom
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  1. This is the best blog you have ever written. I pay extra on my mortgage multiple times a week after selling extra items we don’t need. The percentage of wealthy that own their own home free and clear was a statistic I have never seen before. Thank you for confirming I am on the right track, Kate

  2. Thank you so much ..I am becoming big fan of your writing and this really helps a lot

  3. janie braxton says:

    I really like your blog. You tell much truth very clearly and honestly. The old saying “Money doesn’t buy happiness”, is one that gave comfort to so many of us with limited funds or no money at all. You make a lot of sense. I read your blog consistently, and have read your book RICH HABITS – The daily success habits of wealthy individuals and have added it to my financial library. I have also been influenced and awakened by T. Harv Eker’s book, SECRETS OF THE MILLIONAIRE MIND. I am happily taking actions for my financial life and am on the path to everlasting wealth for me and the generations after me. I thank you for all the time and research you have given me, and the world through your writing . This is true compassion and love for humankind. Keep on keeping on. Much good fortune and happiness to you and yours always.

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