We all want to be happy. But how can we be when so many of us feel like we’re missing out on something? We often equate happiness with having more money. It’s not surprising that people think this way; after all, the saying “money can’t buy happiness” has been around for over 100 years.
The Relationship Between Money and Happiness
Many people believe that more money will make them happier, but according to Wayne von Borstel, this is not necessarily true. He explains that while money may be a means to an end, such as buying a house or paying for college, it cannot guarantee happiness on its own. In fact, some studies have shown that wealth does not correlate with increased life satisfaction at all.
Why Do We Believe the Equation That a Higher Income Equals Happiness?
We are social creatures, and we compare ourselves to others. So, when you see someone who has more than you, it can be easy to think that they must be happier and more successful than you. This is especially true if that person has achieved what you’re striving for a higher income or a better job title.
What Should We Do Instead?
The most important thing is to avoid debt-fueled life. If you want something, ensure it aligns with your goals and values before buying it. Speaking with financial experts such as Von Borstel & Associates, who help people make prudent financial decisions, will help you keep some peace of mind and achieve your ultimate goal.
Wayne von Borstel
Wayne von Borstel is a wealth advisor with over 30 years of experience working with clients nationwide on strategies to manage their wealth. He is a thought leader in the industry and the president of von Borstel & Associates. Wayne has been helping retirees make smart decisions about maximizing their retirement savings, reducing taxes, and ensuring that they are on track for retirement success.