Happiness and wealth have long been intertwined, with countless studies exploring whether money can buy happiness. While the relationship between wealth and happiness is complex, research suggests that the ultra-wealthy often enjoy specific purchases and investments that align with their values, enhance their well-being, or create meaningful experiences.
Here are ten things the wealthy buy to be happier, supported by scientific insights and real-life examples:
1. Investing in Philanthropy: Finding Fulfillment in Giving Back
Philanthropy is one of the most significant ways the wealthy find happiness. Research consistently shows that giving to others enhances life satisfaction. For example, MacKenzie Scott has donated billions of dollars to charitable causes, allowing organizations to use the funds where they are most needed. This approach amplifies her impact and gives her a profound sense of purpose and fulfillment.
Warren Buffett has also pledged to give away 99% of health within his lifetime. Most of his donations will go through charitable foundations, including those his children manage. Buffett is a prominent member of “The Giving Pledge,” an initiative encouraging billionaires to donate a significant portion of their wealth to philanthropy.
Studies reveal that giving fosters a sense of significance deeply tied to happiness. Wealthy individuals often find joy in knowing their contributions make a tangible difference. Giving to others triggers dopamine release through the reward pathway.
2. Time is Money: Outsourcing Tasks for a Happier Life
Wealth provides the unique ability to outsource mundane or time-consuming tasks, freeing time for meaningful activities. Research indicates that people who spend money on time-saving services—such as hiring personal assistants or housekeepers—experience greater happiness because they can focus on what truly matters to them.
For the wealthy, this might mean spending more time with family, pursuing hobbies, or engaging in philanthropic endeavors. By reducing stress and increasing autonomy over their schedules, outsourcing becomes a powerful tool for enhancing well-being.
Many billionaires have an entire household staff of housekeepers, butlers, landscapers, gardeners, nannies, chefs, massage therapists, and personal trainers. Reducing stress through task delegation lowers cortisol levels (stress hormone), allowing for more serotonin production.
3. Experiences Over Things: The Joy of Adventures and Memories
According to psychological research, experiential purchases consistently bring more lasting happiness than material goods. Wealthy individuals often prioritize unique experiences, such as traveling to exotic destinations or engaging in adventurous activities like skiing or helicopter tours.
Larry Page, co-founder of Google, is known for his love of kiteboarding, which combines physical exhilaration with a connection to nature. Experiences create memories that can be cherished for years, offering emotional rewards far beyond the fleeting satisfaction of material possessions.
Adventure activities like Larry Page’s kiteboarding trigger both adrenaline and endorphins during the activity, while creating lasting dopamine responses through memory formation and anticipation.
4. Art as More Than Investment: Cultivating Beauty and Happiness
Art collecting is another avenue through which the wealthy find happiness. Billionaires like Steven A. Cohen and Eli Broad have amassed impressive art collections featuring works by renowned artists like Picasso and Warhol. Beyond its financial value, art provides emotional and intellectual stimulation.
It allows collectors to engage with beauty, history, and creativity on a profoundly personal level. Research suggests that engaging with art can reduce stress and enhance well-being, making it a meaningful investment for those who can afford it. Engaging with beautiful artwork stimulates serotonin production through aesthetic appreciation.
5. Prioritizing Health: Investing in Wellness and Longevity
Health is a cornerstone of happiness; the wealthy often invest heavily in their well-being. This includes purchasing high-end fitness equipment, hiring personal trainers, or accessing cutting-edge medical treatments.
Studies show that physical health is closely linked to mental well-being; therefore, these investments pay longevity and quality of life dividends. For example, some billionaires fund wellness retreats or personalized healthcare plans to ensure they maintain peak physical and mental performance. Exercise and wellness activities boost endorphins and serotonin through physical activity while also regulating cortisol levels.
6. Building Connections: The Power of Social Activities and Relationships
Social connections are one of the most reliable predictors of happiness, and the wealthy often invest in activities that foster meaningful relationships. Warren Buffett and Bill Gates famously enjoy playing bridge together—a simple yet intellectually stimulating activity that strengthens their bond.
Research shows that engaging in social activities enhances emotional well-being by reducing feelings of loneliness and fostering a sense of belonging. Activities like Warren Buffett and Bill Gates playing bridge together stimulate oxytocin release through social bonding.
7. Supporting Personal Growth and Self-development
Wealthy individuals frequently invest in personal growth and self-development opportunities. This investment can take many forms, from advanced degrees and specialized courses to executive coaching and immersive workshops.
These activities allow wealthy individuals to continually expand their knowledge, refine their skills, and broaden their perspectives, promoting intellectual curiosity and fostering a sense of lifelong learning.
This pursuit of self-improvement can be deeply rewarding, enhancing self-esteem and providing a sense of accomplishment and fulfillment. Education is another area where the wealthy find fulfillment. It aligns with their needs for self-actualization by enabling them to reach their potential. Learning and achieving goals triggers dopamine release through the reward system.
8. Creating Comfortable Sanctuaries: Enhancing Living Environments for Contentment
The wealthy possess the means to craft living spaces that truly reflect their personal tastes and cater to their comfort, transforming homes into personal sanctuaries. This extends beyond mere luxury; it’s about creating environments that nurture well-being and foster a sense of peace and belonging.
Investments in bespoke furnishings, state-of-the-art technology, serene landscaping, and curated art collections contribute to a harmonious living space. These personal touches create environments that promote relaxation, inspire creativity, and provide a constant source of pleasure, ultimately enhancing daily contentment and overall happiness. Creating serene living spaces helps maintain steady serotonin levels by reducing environmental stress.
9. Embracing Unique Hobbies: Finding Thrill and Passion
The wealthy often pursue unique hobbies that reflect their passions and provide excitement or relaxation. Sergey Brin enjoys acrobatics and high-flying trapeze, while Mark Zuckerberg enjoys boar hunting with a bow and arrow and mixed martial arts training—hobbies he describes as meditative and rewarding.
These activities allow individuals to step outside their daily routines, challenge themselves physically or mentally, and find joy in personal growth. Activities like Zuckerberg’s martial arts training and Brin’s acrobatics trigger both adrenaline during the activity and dopamine through skill mastery.
10. Indulging in Exclusive Experiences: The Luxury of Escape with a Private Yacht
Luxury private yachts are everyday indulgences among the wealthy. They offer privacy and opportunities for unique experiences. These purchases allow individuals to escape public scrutiny while enjoying unparalleled comfort and exclusivity on the water and in travel.
While materialistic on the surface, these investments often serve as platforms for creating memorable experiences with family or friends, further enhancing happiness through shared moments. Jeff Bezos loves his superyacht and spends private time on it with his fiancé.
Private yachting combines dopamine release from luxury experiences with oxytocin production through intimate family time; it enhances “happiness through shared moments.”
Conclusion
While money alone can’t guarantee happiness, it provides opportunities to invest in areas that significantly enhance well-being—philanthropy, meaningful experiences, health, relationships, education, hobbies, and more.
For the wealthy, true happiness often comes from aligning their resources with their values and passions while creating lasting impacts on themselves and others. By understanding these principles backed by science, anyone can take inspiration from these practices to prioritize what truly matters in life—regardless of financial status.