It's a question that has fascinated philosophers and ordinary people for centuries: does being rich actually make you happier? Journalist Tracey Cox decided to investigate by speaking directly to two women living at very different points on the wealth spectrum. Their candid accounts reveal a complex picture where money solves some problems but creates others, and where personal freedom often matters more than the size of your bank balance.
The Trophy Wife: 'Nothing Is Out Of Reach, But I'm Under Control'
Elise, 38, lives in Los Angeles and is married to a man worth an estimated £500 million. She describes a life of breathtaking luxury, completely insulated from the everyday hassles faced by most people. "I never have to be anywhere normal people are," she states. Her travel is frictionless, bypassing commercial airports for private jets, and her week begins with a visit from a personal stylist who plans her outfits for every engagement.
Her household staff is extensive, including cleaners, house managers, chefs, drivers, bodyguards, and a team of nannies and tutors for her husband's children. Health is a major investment, with private doctors, full-body MRI scans, and for her husband, an intense regime of biohacking and longevity treatments.
Yet, this gilded life comes with significant strings attached. Elise admits her husband curates her social circle and even expects her to flirt with certain business associates. "His life is curated and it's all about image so I understand why he needs to control me," she explains. She also worries about ageing in a world where her looks are part of the bargain and acknowledges her marriage, which includes a generous prenuptial agreement, may have a finite timeline.
Her happiness rating? She gives herself a 10 out of 10 for feeling lucky and grateful, but only a 6 out of 10 for true happiness, noting, "the money isn't mine."
The Self-Made High Earner: 'My Level Of Rich Is Just Right'
In stark contrast is Sarah, 44, who built her own career in the pharmaceutical industry and now earns £400,000 a year. She grew up in a working-class family and has a profound respect for money she earned herself. "I wanted control over my life, so was determined to make my own," she says.
Sarah's lifestyle is affluent but grounded. She lives in a £2.5 million apartment in Chelsea with a mortgage, shops on the high street mixed with the occasional designer piece, and happily uses the Tube alongside Ubers. She flies business class on long-haul flights but economy for shorter trips. Her only regular staff are a cleaner and a personal trainer.
For Sarah, the greatest joys are autonomy and the ability to be generous. "I love being able to treat friends," she shares, and relishes not having to scrutinise restaurant menus for prices. She is fiercely proud of her independence and the freedom to make life choices, including whom to marry, without financial pressure.
Her happiness rating is a definitive 10 out of 10. She concludes, "I couldn't think of anything worse than some rich man thinking he could control me."
The Verdict: What Does The Evidence Say?
These personal stories align with broader research on wealth and well-being. A famous 2010 study suggested emotional well-being plateaus at an annual income of around £58,000, though more recent estimates place the 'magic number' for reducing daily stress and enabling freedom higher, between £100,000 and £200,000.
Money undoubtedly buys security, removes a vast array of practical worries, and provides more life choices. However, it is powerless against core emotional and relational issues. Depression, loneliness, grief, and a lack of purpose are not solved by a bigger bank balance.
Extreme wealth, as Elise's account hints at, can introduce its own set of problems:
- Trust and Isolation: The ultra-wealthy often struggle to know who their real friends are, leading to social isolation.
- Loss of Purpose: For children of wealthy families, a lack of financial necessity can rob life of direction and drive.
- Control and Manipulation: Family dynamics can become transactional, with wealth used as a tool for control.
- Increased Risks: Threats like kidnapping, extortion, and spiralling addiction due to limitless resources are real concerns.
Ultimately, the pursuit of happiness is far more nuanced than the pursuit of wealth. As these two women's lives demonstrate, a sense of autonomy, purpose, and genuine connection often contributes more to life satisfaction than the number of zeros in one's net worth. Money can provide a tremendous safety net and enhance life's pleasures, but it is not a substitute for the fundamental human needs that truly make life worth living.
