Why are some people happier with less?

Economists and psychologists have studied this question for years Can't view this email properly? [View in Browser]() {NAME}, Economists and psychologists have studied this question for years: "Why are some people happier with less?" (“Less” = less money, less property, less status, you get it.) While there’s research to support the ideas that [happier people have more time](), or happier people spend [more money on experiences]() vs. material goods, I have a slightly simpler take. It’s not about “less” or “more.” It’s about what makes YOU feel fulfilled. Allow me to explain. Up to you A Rich Life is different for everyone. Yours is up to you. People are happier when they're intentionally designing and living their Rich Life. Someone else’s Rich Life might look like “less” to you because you have different [Money Dials](). But to them, it’s incredibly fulfilling. That’s the only thing that matters. I see so many people mindlessly throw their money at things they subconsciously hopewill make them happy. The latest TikTok must-have skincare product, jewelry, gadgets… Maybe you find yourself doing this too. If those things are actually part of your Rich Life, great! This isn’t a judgment on any particular item. The problem is spending without intention. Think about what happens after that initial rush of getting something new wears off. You’re right back where you started, right? With less money to use on what would actually contribute to your happiness? Instead of spending on autopilot, I want you to take the time to be intentional about how you use your money. Once you identify the places where spending will help create your Rich Life, you can prioritize those spots — while cutting ruthlessly on things that don’t actually matter to you. Ramit driving his 2005 Honda Accord I don’t care about fancy cars, so I still drive my 2005 Honda Accord. On the other hand, I LOVE luxury hotels. Your Rich Life is yours I often encourage my readers to come up with a concrete vision of their Rich Life. One way to start envisioning your Rich Life is by imagining your perfect day: - Where (and what time) are you waking up? - Who are you with? - How do you spend your time? From here, you can work backward to see what steps will get you closer to that vision. (Another way to start defining your Rich Life: [Take my quick quiz]().) So what does your Rich Life look like? If your Rich Life includes traveling the world for months at a time, or treating your friends and family to luxurious resort vacations, then you might need to have more money in the bank to accomplish your goals. Ramit with his family and friends on his 40th birthday For my 40th birthday, I brought my family and close friends on vacation with me to a Mexican resort. We spent 4 days just relaxing. But if your Rich Life includes spending more time outdoors, or being able to pick up your kids from school every day, or buying yourself fresh flowers once a week…then you might not need more money. Listen to me carefully, {NAME}: All of these Rich Lives are valid. That’s the beauty of designing your Rich Life around what YOU care about. Everyone’s Rich Life is different. The point is that you’re satisfied by your own metrics — not by the metrics everyone else says you should care about. By the way: You can be fabulously rich and deeply unhappy For a decade, everyone’s thrown around a famous study that found money actually can buy happiness — up to a point of about $75,000/year. (That number is [closer to $500,000/year now]().) But some people can become millionaires multiple times over…and yet remain unhappy. This is the “miserable minority.” They have plenty of money, but for whatever reason, they’re not actually living their Rich Lives. To put it another way, if your life makes you unhappy, then no amount of money will solve your unhappiness. Your challenge: define the details When I ask, “What does your Rich Life look like?” people almost always instantly fire back with, “I just want to be able to do what I want, when I want!” Then I say, “OK, so what DO you want?” Crickets. All of a sudden, the gears turn. Do they want to spend their days lying on a beach in Punta Cana? Or cook healthy dinners every night? Do they want to see their family more? Or hire a personal trainer 3 times a week? Or send their kids to sleepaway camp? Or just order sushi whenever they feel like it? Sashimi I made sure we had plenty of sashimi at the launch party for [my Netflix show.]() When you get down to the details, you start asking the important questions, like: [what’s the point of earning this money?]() You can’t use your money to live your Rich Life if you don’t know what your Rich Life looks like. And if you don’t know what that looks like, you can easily overspend on things you find unfulfilling — wasting time and cash in the process. So here’s a challenge for you: Grab a notebook or open a fresh text document. Set a timer for 30 minutes to 1 hour. Now sit there and dream. This is harder than it sounds, but so worth it. What does your Rich Life look like? What would make YOU feel so excited about your life that you couldn't wait to jump out of bed in the morning? (Or just lie in bed and scroll your phone for as long as you want, which is what I like to do.) [Juan Pablo Beltran] "Telling my wife to go out without worrying about money was a truly special moment" "When we were dating, we almost always did low budget stuff because we were typical college broke students from immigrant families who typically have low-paying jobs. So…telling my wife to go out in our hometown without worrying about money was a truly special moment." – JUAN PABLO BELTRAN [Katie Mild] "Wine tastings in Cape Town vineyards, private helicopter ride, 5-star treatment at Mfuwe Lodge" "We stayed in a luxurious Airbnb estate in Cape Town with ocean AND mountain views, then stayed at a luxury resort for the safari…Wine tastings in Cape Town vineyards, private helicopter ride over Cape Town, and then 5-star treatment at Mfuwe Lodge in Zambia…Very expensive and worth every penny… Best trip of our lives so far, and we're planning to go back in a few years!" – KATIE MILD When you’re done writing down your vision, pick one aspect of your Rich Life vision to start working toward. Hit reply and let me know what you chose. I can’t reply to everyone, but I always love reading what you share with me. [Signature] P.S. If you’re feeling stuck, scared, or simply uninspired about your financial situation, [Money Coaching with me can help](). 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