[Podcast] Why Wealthy People are Happier People | RICH HABITS, POOR HABITS Podcast

[Podcast] Why Wealthy People are Happier People | RICH HABITS, POOR HABITS Podcast

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Australia's estimated population growth ostensibly 'slowed' to +119,000 in the first quarter of 2019, apparently bringing the annual pace down to +389,000.

If they are nearing, or in the midst of a happiness event, they will say they are happy.Does Money Buy Happiness

If they are recovering from, or in the midst of an unhappiness event, they will say they are unhappy.

Happiness is event-driven

The quantity of happiness events you have during your lifetime is the only true way to accurately measure your level of overall happiness with your life.

Those who have experienced more happiness events during their life will view their life as happier overall.

Those with less will view their life as less happy overall. 

The key to overall happiness, therefore, is to accumulate happiness events.

To understand the importance of happiness events we must first dissect what causes happiness:

  • 50% of happiness is determined by your genes
  • 40% of happiness is determined by your activities
  • 10% of happiness is determined by your circumstances

Genes play a major role in your level of happiness.

Some people are simply hardwired genetically for happiness or unhappiness.  

They have a happiness baseline that they were born with.

But the good news is that irrespective of your genetic makeup, you can increase your level of happiness by engaging in certain activities that will make you happy and that will also change your circumstances in life.

Happiness Activities That Improve Financial and Non-Financial Circumstances:

  • Pursuing some long-term goal, big dream or major purpose in life
  • Engaging in the daily habit of educational reading 
  • Practicing gratitude Happiness And Love To Nature
  • Practicing optimism
  • Engaging in some creative pursuit like painting, writing, building, music, manufacturing, inventing, etc.
  • Engaging in new activities
  • Overcoming a fear
  • Aerobic exercise
  • Mentoring others
  • Helping others 
  • Doing work that you love in which you can make money
  • Solving problems
  • Overcoming obstacles that interfere with achieving some goal or realizing some dream
  • Living in the present – enjoying happiness events without thinking about anything else Happy
  • Receiving awards for something you’ve done
  • Losing weight
  • Saving money
  • Being productive at work
  • Building relationships with other successful people
  • Vacation homes – 52% of the wealthy own vacation homes.
    This allows them to engage in more frequent weekend retreats with business associates, customers, clients, etc.
  • Country Clubs and Golf Clubs – Many of the wealthy are members of country clubs or golf clubs.
    They engage in activities at these clubs with business associates, customers, clients, etc.

Happiness Activities That Have No Effect on Financial Circumstances:

  • Vacation homes – This allows them to engage in more frequent weekend retreats with family and friends
  • Country Clubs and Golf clubs – They engage in activities at these clubs with their family and friends
  • More unique social gatherings – Because the wealthy surround themselves with other successful people they are able to participate in more unique social gatherings
  • More unique vacations – The wealthy are able to go on more unique vacations with family and friends
  • More parties – Because the wealthy have more money they can have college graduation parties for their children, they can also afford to pay for weddings for their children and they can afford more parties for family and friends

Happiness is activity-driven.

It is not a destination.

It is the culmination of frequent happiness events.

The wealthy are able to engage in more happiness activities because of the wealth they accumulate in life. 

Links and Resources: 

Michael Yardney

Tom Corley


Get your own copy of our international best-selling book: Rich Habits Poor Habits 

Some of our favourite quotes from the show: Happy Child Dreams Of Traveling And Playing With An Airplane

“Any problem that money can solve isn’t a problem.” – Michael Yardney

“There does seem to be something inbuilt in certain people, that they just can’t see the good in things.” – Michael Yardney

“A lot of the poor people are going to be jealous of the rich people and not recognize that part of what they do with their money is also help other people up.” – Michael Yardney 


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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.

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