Why More Money Really Does Make You Happier
A new study finds that contrary to popular belief, accumulating wealth increases your well-being.
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The Beatles told us that “money can’t buy you love.” And recent academic studies have suggested that while modest wealth might increase our happiness, riches beyond a certain point don’t matter.
However, new research is taking aim at that notion. A study out of the University of Pennsylvania’s Wharton School finds that wealth has a more potent impact on well-being than previously imagined.
In the study, Matthew Killingsworth, a senior fellow at the Wharton School, collected more than 1.7 million data points from more than 33,000 participants who offered moment-to-moment reports of how they felt at various times during the day.
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