Wealth Means Financial Security—or Does It?

Studies were conducted to determine whether a person with a higher income would have fewer worries, compared to a person who could hardly make ends meet. The results were fascinating. Professor of behavioral economics at Princeton University, Talya Miron-Shatz, tested the connection between the level of income and one’s sense of financial security. She found that “Financial security adds to the prediction of life satisfaction above the contribution of income.” [46]

[46] Talya Miron-Shatz, “‘Am I going to be happy and financially stable?’: How American women feel when they think about financial security,” Judgment and Decision Making, vol. 4, no. 1, February 2009, Princeton University, pp. 102-112 (http://journal.sjdm.org/9118/jdm9118.html#note1)