Here’s what makes wealthy people unhappy

Last Updated: Mar 23, 2011, 21:25 PM IST

Washington: A survey on the miseries that wealthy people go through has found that most are worried about appearing ungrateful, rearing bratty children and failing to meet expectations.

The survey titled ‘Joys and Dilemma of Wealth’ by Boston College, funded by the Bill and Melinda Gates Foundation and Calibre Wealth Management found wealthy people are unhappy.

The report, obtained by The Atlantic, gives a glimpse of the wealth and fulfilment level of 160 households, of which 120 had amassed fortunes of at least 25 million dollars.

“Being very poor is very miserable. But it turns out money doesn’t buy as much happiness as people think it would buy,” ABC News quoted Dan Ariely, a professor at Duke University, as saying.

Experts say it is not the Screaming Eagle, one of the world’s most expensive wines, or the Greubel Forsey Invention Piece 2 that bring the most joy, but knowing how to do good with your money.

“One reason money might not provide as much happiness is because people might not spend it right,” Elizabeth Dunn, who conducts research on happiness, said.

“We find that people get more happiness by spending money on others,” she stated.

Graema Wood wrote in The Atlantic that the truly wealthy know that appetites for material indulgence are rarely sated.

“No yacht is so super, nor any wine so expensive, that it can soothe the soul or guarantee one’s children won’t grow up to be creeps,” Wood added.

ANI