Penta-Millionaires are Happier with Relationships, Jobs and Social Life
A new study shows that penta-millionaires are happier than the merely rich:
The study found that 53 percent of those worth $5 million or more were “very satisfied” with their job or previous job. That compares with only 21 percent for those worth $100,000 or less.
The multi-millionaires are also twice as satisfied with their social life, presumably since the wealthy have no shortage of friends and invitations.
Nearly three quarters of the penta-millionaires are very satisfied with their marriage or “committed relationship” – far more than the 45 percent reported for the merely affluent. Millionaires are also significantly more likely to report higher levels of satisfaction regarding their relationships with their children (59 percent vs. 52 percent).
The findings on relationships and kids are perhaps the most surprising, since we tend to think of large wealth leaving behind a trail of broken marriages, alienated offspring and artificial friendships. The survey shows that, in fact, solid family relationships may not only accompany large wealth – they may in fact be one of the causes.
This news is not surprising. Thomas Stanley’s book, The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, first written years ago, points out this “surprising” finding. Those who amass millions usually do so over time methodically, and steadily. The traits needed to save this way are often the same traits of reliability and loyalty one has to family and friends. Our culture wants to demonize all people with money as unhappy, greedy types who prey on others, but it’s generally the people who envy them who have more of these traits.
Arthur nods and says "Feels great!"
Arthur nods and says "Feels great!"
The vast majority of millionaires, over 80%, in this country made their fortunes in the last 50 years. They're usually small business owners. Most of them did not go to college. Those that did stayed for maybe two years. Those that graduated were C students. The A students work for the C students, or so the saying goes.
What did these guys learn in college? How to read people. Then they went out into the real world and went to work. They started their own businesses. One guy, a used car salesman, got the idea of selling used truck parts. He made millions.
Believe it or not, most millionaires live in houses that cost less that $200,000. They drive used cars. They dress casual. You... (show more)
The vast majority of millionaires, over 80%, in this country made their fortunes in the last 50 years. They're usually small business owners. Most of them did not go to college. Those that did stayed for maybe two years. Those that graduated were C students. The A students work for the C students, or so the saying goes.
What did these guys learn in college? How to read people. Then they went out into the real world and went to work. They started their own businesses. One guy, a used car salesman, got the idea of selling used truck parts. He made millions.
Believe it or not, most millionaires live in houses that cost less that $200,000. They drive used cars. They dress casual. You wouldn't know that they were rich if you saw them walking down the street.
This is the illusion. Everybody believes that rich people live in mansions and drive expensive sports cars. Only fools do that. Most NFL players, despite earning millions, are completely broke within two years after leaving the league. I suspect the same is true for baseball and basketball players.
The real millionaires live simple lives. They live cheap; that's why they're millionaires. Their idea of a vacation is a Friday night high school football game.
They don't flaunt their wealth, because they don't need to. They'd rather have it.
I know several people exactly like that. They live cheap, dress casual, and have money. Of course, they're happy. They didn't buy into the illusion of wealth; they simply built it.
Oh, and the reason why "rich" people don't get divorced is because divorce is very expensive. They may agree to disagree and overlook their partner's infedility, that is their decision. But money is money. And these people don't waste money. (show less)