“I’ve been poor and I’ve been rich,” quipped the comedian Sophie Tucker. “Rich is better.” There is merit to Tucker’s argument. All else being equal, more money is better. This is because, as professors Elizabeth Dunn and Michael Norton point out in their very useful book, money provides access to things - products, experiences, and services - that improve happiness levels. And yet there’s also a stream of research that shows that wealthier people are not happier.
"Why Rich People Aren't as Happy as They Could Be" is from hbr.org, published on June 8, 2016.