Is Wealth A Burden?

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I read an interesting article in Vanity Fair magazine the other day about Perfection Anxiety, and it discussed how extreme wealth may actually be a burden. The article proposes that when money is limitless, it ceases to make one happy. We’ve all fantasized about winning the lottery, (I know I have) and becoming rich beyond our wildest imaginations. Rich enough to quit our 9 to 5ers, rich enough to buy that expensive sports car or take your friends to a fancy dinner….every night. What if this fantasy was just that, and if extreme wealth was really a burden?

Statistics show that money does make you happier, but only up to about $50,000/year. After that, the more money you have, the less it matters. Think of it this way, if you gave a starving man a cheeseburger, that one cheeseburger would make him really happy. If you gave a starving man 2 cheeseburgers, the second probably wouldn’t make him as happy as the first, but it may make him a little bit happier in comparison to how happy he felt after the first one. If you gave a starving man 8 cheeseburgers, he would not feel 8 times happier than he did after the first one. It’s the same with money. Money can give you the things that you need and want, and this will make you happier, however only to a certain extent.

            The Vanity Fair article explains that when one has too much money, it “stops working” to make you happier. I wrote a post about happiness and how we don’t just want to experience happiness, but we also want to achieve it. In fact, in order to feel truly happy, we must also experience sadness in contrast. Think of how happy and excited you feel when you buy something you’ve been lusting after for a while, something you’ve saved up for. Think of how grateful we feel when a loved one buys us a present we’ve really wanted for a long time; that high you get when you get that new iPhone or super nice yoga mat. Now, imagine you could buy anything you wanted, always and forever, and suddenly that excitement, anticipation, gratitude is lost. It’s important to have goals, things we can’t yet attain, because we feel a sense of pleasure in working towards these goals and then a sense of accomplishment when we reach a goal.

If you are among the extremely wealthy, I’m sorry. Let me know if I’ve gotten it wrong. If you are not among the extremely wealthy, you get to take this moment to be grateful that you can still derive pleasure from things. We get to feel grateful that we have things to work for, presents to give, and get, and we can still derive simple pleasure from saving up for a special treat. And remember, winning the lottery probably won’t solve your problems, so enjoy the moment : ) Happy Weekend!