Samir’s Selection 06/12/2016 (p.m.)

  • Americans who want more time in their lives are happier than those who want more money, according to new research published in the journal Social Psychological and Personality Science.

    Across a range of surveys and experiments involving over 4,400 people, researchers at UCLA and the Wharton School found that nearly two-thirds of respondents said they’d prefer having more money over more time. But the people who opted for more time were happier with their lives.

    Researchers have long known that having more money is associated with more happiness and life satisfaction. A famous 2010 study by Daniel Kahneman and Angus Deaton found that having moremoney was associated with better emotional well-being up to an annual income of about $75,000. Subsequent research by Betsey Stevenson and Justin Wolfers found that, while additional money bought less happiness above $75,000 on a per-dollar basis, the relationship remained the same even into the uppermost reaches of the income spectrum…

    In the end, it seems fairly safe to say that it’s better for your well-being to have money and want time, than it is to have time and want money. Better cash-rich and time-poor than vice-versa, in other words.

    tags: money wealth time happiness psychology

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