Results of a recent study states that rich people could be happier than the poor taking into consideration factors like physical health, income, education and marital status .
The study was conducted on a group of people ranging in age from 20 to 64 years. The subjects were questioned regarding their age, total family income and general happiness. They were checked for health, education, effects of getting older, race and marital status.
AdvertisementThe analysis of the responses revealed a relative income effect - the richer you are relative to your age peers, the happier you tend to be. Families whose income earners are in jobs with flat income trajectories are likely to become less happy over time.
This could mean that the relative income effect reflected here could have valuable implications with respect to happiness for some individuals over the working years of their life cycles.