The Amount and Source of Millionaires’ Wealth (Moderately) Predict Their Happiness

The Amount and Source of Millionaires’ Wealth (Moderately) Predict Their Happiness

Two samples of more than 4,000 millionaires reveal two primary findings: First, only at high levels of wealth—in excess of US$8 million (Study 1) and US$10 million (Study 2)—are wealthier millionaires happier than millionaires with lower levels of wealth, though these differences are modest in magni...

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Veröffentlicht in:Personality & social psychology bulletin 2018-05, Vol.44 (5), p.684-699
Hauptverfasser: Donnelly, Grant E., Zheng, Tianyi, Haisley, Emily, Norton, Michael I.
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Sprache:eng
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Happiness
Wealth
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container_title Personality & social psychology bulletin
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creator Donnelly, Grant E.
Zheng, Tianyi
Haisley, Emily
Norton, Michael I.
description Two samples of more than 4,000 millionaires reveal two primary findings: First, only at high levels of wealth—in excess of US$8 million (Study 1) and US$10 million (Study 2)—are wealthier millionaires happier than millionaires with lower levels of wealth, though these differences are modest in magnitude. Second, controlling for total wealth, millionaires who have earned their wealth are moderately happier than those who inherited it. Taken together, these results suggest that, among millionaires, wealth may be likely to pay off in greater happiness only at very high levels of wealth, and when that wealth was earned rather than inherited.
doi_str_mv 10.1177/0146167217744766
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source Applied Social Sciences Index & Abstracts (ASSIA); SAGE Complete A-Z List; Sociological Abstracts
subjects Happiness
Wealth
title The Amount and Source of Millionaires’ Wealth (Moderately) Predict Their Happiness
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