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Does Money Buy Happiness? A Case Towards Wealth

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Forge Your Wealth is meant for education and entertainment and should not be used for financial advice.

Does money buy happiness? We have all heard how money does not buy happiness. But does it? According to a professor at Harvard, having an income over $75,000 will not increase your happiness.

Would you rather have less than $75,000 because a Harvard professor who possibly has a larger income than that said so, or more than $75,000? Everyone wants the latter. No one wants less money, that’s like wanting to be unattractive.

Why Do You Want More Money?

The question is why do you want more money? To breeze through life or to pursue new challenges? These challenges include creating and providing for your family. This is problematic though because humans are wired to think short-term. Humans only existed for a short period of time relative to the existence of Earth and we have changed the world more than we have changed ourselves. That is why when people make more money, they tend to spend more, similar to how a wolf eats a very large amount of meat at one time because they may have to survive for a month without food.

It is hard to kill the survival instinct. Therefore, when most people obtain new money, they want to breeze through life and buy comforts instead of assets. This is because of a psychological battle in our brains between emotion and reasoning. Controlling these behaviors requires discipline, and this not only affects money immediately available, but abilities to invest. Lacking discipline leads to materialism and ultimately an addiction where you feed a dragon with gold and riches just for it to breath fire and gases to inflate your ego.

Money Buys Happiness…If You Spend It Right

This was probably a line in which was used to sell boats, houses, or something. But I see that there is truth in this saying. Now if you spend money on liabilities like a larger house or a boat, this will likely lead to stress. Instead, the money should be spent eliminating debt, traveling, experiences, family, and whatever makes you happy. Besides let’s face it, when we want the larger house, the sports car, and the boat we do not want these because we appreciate it but because this is what society says are signs of true success? Do you even need the extra room? Have you ever needed to drive above hundred miles per hour? Do you fish/sail more than once a year? If not then the reason is because of society.

The problem with money is not the money, or lack there of, but in consumerism.

I recommend chasing what you want with the money you make. This will make you happier. You could start going for your dream in FIRE, quit the 9 to 5 you hate. If you want, you can try free lance jobs or start businesses with the money you have. You can even make sure your next of kin have an inheritance.

Final Thoughts

Does money buy happiness? Not directly. And most of the time not even indirectly. Unfortunately, we love things. We must have the newest thing and that we must be better than the next person. Both of these are drugs. We will only ever have the newest thing for only a little while. With how consumerism and technology are going that will not even last a day. And you will always meet someone better off than you, at least in one aspect of life. We are feeding a dragon that will never give us anything back. They are burning our houses, stealing our women or men, and devastating the fruits of our harvest. WHY ARE WE FEEDING THE DRAGON?

Money can be used to buy happiness, but there is a very thick line between happiness and greed. Every one wants something they do not or cannot have, it is the action towards that greed that ultimately affects your life. If instead you use the money to forge your wealth, you establish a foundation of happiness for yourself, your loved ones, and many others. Wealth leads to independence, freedom, and generosity. Do not just forge your wealth, but forge your happiness.

Author: Papa Foxtrot

Most of my life I was careful with money and learned where I should invest it. I was very lucky to have parents who taught me financial literacy when I was young. Unfortunately, I am very lucky because many people lack the financial literacy I know. The purpose of Forge Your Wealth is to teach people who are just starting out in life how to obtain their wealth or anyone who just realized they may need to learn more to handle their finances. I currently have a PhD in biochemistry, just started a job in industry (will not disclose where exactly for personal and professional reasons) and am currently married to the love of my life. I am one of the lucky few people in America who graduated with no student debts, my wife was not. Over the series of a little over 3 years we paid for our wedding with no debt and paid off her federal student loans.

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