The Pros and Cons of Being Wealthy

You may have heard the phrase more money, more problems. And it’s true that many of the problems that come with poverty and scarcity can be solved, or at least significantly mitigated, by money and wealth. Is it all, though, puppies and rainbows?

You want to be rich. Perhaps very wealthy indeed. Who wouldn’t?  You can come back later to tell us how hard it is being rich. But let’s begin with the good points.

The Pros of Being Wealthy

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Unless you’re very religious, contrarian, or you’re visiting our planet ahead of the full-scale invasion from Mars, you’ll know how great it is to have money. At the very least, being wealthy gets you: – Financial freedom – Holidays anywhere – A great home – Funding for your pastimes and passions – etc

Self-determination is at the luxury end of the hierachy of needs. And when you’re very wealthy, within reason you can do what you want, where you want, when you want, and a lot of the time with who you want. But beware!

The Downsides of Being Wealthy

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Once you’re earning a surprisingly modest amount of the stuff, researchers say making more money doesn’t make you happier. Rich people get depressed, just like the middle classes.

Money (Probably) Won’t Make You Happy

You see this with children born into money, as well as people who built a company up for several decades and sold it too late to start another. When you have the money, what next?

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