Harvard Professor Reveals The Real Reason You Want More Money
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- Опубліковано 22 лис 2024
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Did you know that how you use your money can impact your happiness? Find out how you can achieve lasting financial happiness in this interview with social scientist Dr. Arthur Brooks.
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Happiness concerning Money:
1. Buying Experience - use money for travel, activities, etc. with the people you love
2. Buying Time - pay other people so you have more time. Spend time for meaningful activities
3. Giving Money Away - consistently shows at various research
4. Saving Money - sense of making progress
"Whoever said money doesn't buy happiness already had the bills paid"
There is a difference between having happiness and taking the unhappiness away.
I see the reverse. People who say money doesn’t buy happiness often don’t have money.
this should be a given when watching videos like this. meet minimum standards first then consider happiness.
I’ve been told by few people the same thing. And I replied by saying, “OK. I’ll ponder that on my way to Europe(or whichever country or state), while you’re working.” Nope. I’m certainly happier having money(responsible cash)to fund my vacations & sharing w/family & donating.
Money definitely does buy happiness, many studies have shown it. We try to downplay this, but deep down we know it’s true.
Dave is looking leaner every day
Now That is funny! 😄😄😄
I hope they see it.
😂
😂 money can’t buy weight loss
It certainly buys the jabs!
😂 rice and beans beans and rice
at the 12:00 mark he is 100% correct about getting the happiness bump once the house is paid off.
I agree with you!❤
@@freedomring3022 So looking forward to that moment!
My parents lived modestly, they worked for the church and gave back 30% of their church earnings back to the church. There was no concept in their minds about passing on money to their kids or even the house they lived in. Recently, they even thought about donating their house to the church. I understand that this interviewee is comparing giving with just mindless spending. But what if someone doesn’t mindlessly spend? What if they already give a lot? They might feel happy but I know that the rest of the immediate family is pained and struggles with the extreme giving. I write this because maybe it’s applicable to some people and to say that giving is good but it can have problems too.
Interesting thought eikajung, I never thought of it this way. The economy is changing due to unlimited debt and loss of purchasing power of the US dollar, Canadian $, European Euro, Aussie $, UK pound, etc. I think giving slows traumaticly during these years to follow unless it stabilizes (*Chinese workers are aging out and are old to save our lifestyle of consuming cheap goods; deflation hit these folks and our "US" news doesnt want you to know hoe bad it is getting). Stay positive, save for your family and those you love, and consider donating your time instead if need be. Helping children as a volunteer also makes you feel good!
Jesus wants your munnie
Prosperity Gospel!!! Ahhh!!!
I'm sorry but money does solve problems. I was in pain for years and paid a surgeon to fix it. If I didn't have the money I would still be in pain to this day. Is there a difference between having $100 and 1 million dollars? YES. Is there a difference between having 2 million and 4 million dollars? Probably not. Money is a resource that is used to meet our needs. Our needs have a price, and at this moment in time most people can have them met for a particular amount (e.g. 100K/year).
Perfectly said, you’re absolutely right. Money does solve problems.
Retiring on 2 vs 4 mil is probably going to be pretty different especially when inflation is outgrowing the market and the government is giving money away so you can’t make money lending it by buying bonds or CD’s.
At 3-4% withdrawal (3% if retiring young) is $60-80k per year income with $2mill vs $120-160k per year income for life with $4 mill. Would that create a difference for you? You decide.
@@FunStuffBuddy If we have another round of inflation without having portfolio gains, it means going from being comfortable to very constrained. Especially since no government actually really covers healthcare costs completely, and they are getting worse at that, not better.
Yes yes yes!!! Money buys comfort, some peace of mind, and money buys time! It does NOT buy happiness, but it helps.
3:55 Money makes you more of who you are
5:30 *Survive, pass on your genes, and rise in hierarchy*
7:30 Giving money away
10:00 Saving money
Gold and Silver are "outside the system" savings accounts for me and only buy on huge dips like we have seen recently. Buying Gold and Silver keeps me from spending money on silly and unnecessary purchases. Holding physical Gold and Silver allows me to quickly pull in emergency needs and sell at my LCS and walk away with cash when needed. Not looking for it to moon and get rich off the purchases
Great talk. I agree with you both and think that how you spend your money and time really show your character. It is true, whether you are rich or poor. Use the resources you have in life wisely.
Must watch video for everyone in the world😊
Amazing video Rachel
God continue to bless you and your team..
Thank you, the interview with Dr Brooks and your knowledge Rachel made me more clear on the accomplishments I need to continue to change and work on myself. ❤
You can buy problems also. Great conversation
Thank you 🏠Paying off mortgages provides a significant happiness boost, while credit card debt is detrimental to happiness, with research showing that the regret of consumer debt outweighs any satisfaction from purchases.💰Consistent philanthropic behavior not only makes people happier and healthier but also enhances perceived attractiveness, particularly for men in the eyes of women.
Resilience is part of your personality. You will notice whether you possess this trait or not when you are in deep trouble. Money can make a person happier, but that is personal for everyone.
Dr. Brooks really hit the nail on the head with this one: money doesn’t change who you are, it just amplifies it. So... does that mean we should stop buying 5 watches? 😅
The main thing money should provide is freedom. But lots of people just literally burn it. Me included. I've realized just now..at almost 60...how much money I've also burned.
Arthur Brooks is fantastic
I know it is a nice, first-world problem to have but I relate to the issue discussed at the ten-minute mark. My parents (wisely) taught me to save, save, save. I appreciate that but I am mid-life and don't need to keep saving and scrimping. I have a lot of anxiety about spending more than the bare minimum on basic expenses. I never thought about it from the perspective of how this might be bad for my child. Thanks for the reminder to be more balanced. Hard to break out of the scarcity mindset.
Excellent video!
Started to round up the tithe before taxes the last few years, the Lord has continually closed the gap, can't out give the Lord! He owns it all!
i don't need a professor to tell me the reason i want more money.
"How do you know if someone you just met went to Harvard?" He will tell you very shortly after introducing himself.
He didn't go to Harvard (as a student). He only worked there. But agree with the pompousness -- Harvard, Yale, and Princeton are particularly overhyped and pompous.
How does that matter? He has been hired by a respected institution and is sharing his research free to you. Be gracious that you don’t need to pay Harvard tuition to hear it.
@@andriaweil45 It matters because he didn't go to Harvard and so the original comment is incorrect.
I agree with you. I was just responding to the criticism about being from Harvard. It shouldn’t discount the interview in any way.
People who have no understanding of jokes and humor will also let you know very quickly. Seriously, the people who commented before me really need to learn how to laugh at a joke. I would bet that the guest would have found it hilarious.
Here is my conundrum and query: If I buy a car or a piano or whatever, it allows me to have experiences. Same with the art I hang on the wall.
So how do you pass wealth to your decendants without ruining them?
The phrase goes that you give enough that they have the opportunity to do anything (school, training, tutors, no debt) but not so much money that they can just sit and do nothing.
@@gdymentthat's nicely said
I definitely need to find a scientific way to add several different revenues into my savings
“get 6 jobs” - Dave Ramsey
@@gtslikemike4649 😅
I want it for the freedom it can endow its possessor with to impact the world positively without needing to court small minds.
My mind is too small to understand what you wrote
This is the classic "over-thinker" type who really has no clue. Life is pretty simple (not easy). Money does solve problems. This guy makes a simple concept complicated.
Excellent content
What a great interview with two of my favorite people, Rachel and Arthur! Thanks for what you both do for us all! God is so good! "High class problems", loved that! Such solid advice, as always.
😮p
🎉 5:14 😊😊7😊😂😂73😊is 8😅7😂😅 😮😊it t😮🎉😢😅😅
I think money will make me a better version of myself...
It will probably make you more of yourself, whether that is good or bad
as a non-American, I don't know if I should laugh or cry at your ideas of freedom
1 Timothy 6:10 to be: For the love of money is the root of all of evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
The name of the professor?
Arthur brooks
“The science of Happiness”: who was first? Dr Brooks? Or Dr Laurie Santos at Yale? Or did they work together?
I do like Dr Laurie Santos. I very much like scientists that gather empirical evidence instead of innate knowledge I.e. they just figured it out. Personally, I really like Dr Robert Holden. I do like people that acknowledge it's psychology, we are not all alike.
Dr. Santos was first
When I my child support payment stopped I was so happy!
Lovely. Not.
At about 10:00, I tithe on my gross because the government takes off the top. Why wouldn’t I give God from the top?❤
Cuz you’re not giving “God” 10% you’re giving your money to a man. God has no use for money. You’re getting scammed. Efff tithing
Bc tithe is on your increase.
Are you going to also tithe later when you are receiving SS (money you already tithes on) or will you not tithe at all in retirement?
Try being self employed or the company owner? Would you pay tithe on the gross of what the company earns or on what your take home check is? Bc the company pays a lot of taxes (more than an employee does). Tax is just another business cost to a business owner. The increase comes after costs.
I'm not saying this from greed, but from practicalness. We return all 3 tithes the Bible describes.
News flash pleb. That money doesn’t go to “God” it goes to men. Men that spend on themselves. Tithe is a scam.
I think there are starving people in America.
It doesn't matter what your house is worth if you're not going to sell it!
12:54 Super awesome interview I learned so much. But I disagree with this one point, some people, like me, are wired such that they will become full of worry if they see all their friends having low mortgages and not being able to invest with that extra money. I feel much more calm and peaceful when I know I also have a low rate loan and am putting that extra money into the sp500
When “science” breeds with marketing 😢
Even my money has a hard work ethic.
This baker is a very wise man (don't judge by his profession!).
He says the same thing as me and there's nothing to add :(((
But you can point out something- debt/ credit is the worst thing...
Nice Tag watch
$6K lol
Is he actually wearing a watch on each wrist?
@@Oooooo-xi2mx lol, ya, fitness watch on the right, and Tag Monaco on the left.
Best university in the world...genius..we need moneybfor food, real estate and to live...now i know why we want money..just saved me $300k in tuition
Hahah this Harvard professor does not think there are starvation problems in the US?? Absolute joker
The real reason i want more money is so i can stop working. I get no joy or satisfaction from it.
I prefer a life in which i have enough money to never work again so i can wake up at 9am or so, cruise around in my track pants, lift, play video games for 6-10 hours a day, sleep, and then repeat.
Grow-up, man!
You've got it all figured out my friend.
I bet that will get boring after a while.
Not that it's a proboem - you will get bored and yhen try something other playing computer games and will eventually end up with some sort of balanced and meaningful life. But my point is that being productive (e g. doing something like work, but not necessarily being employed) is actually important for many people's wellbeing
Idk if you’re joking or not but you don’t understand people don’t want money for money sake. They want money because of what they can buy.
In your case you want freedom, which is probably about ONLY 400k-2 million, depending on what you spend.
Dr is so serious in the photo for the video lol
I hate the single couch set up of a podcast set. It's just weird to me. Ya gotta have 2 chairs.
I'm personally a big fan of casting people on a couch
@@coledabull 🤣
Can’t wait to hear what a Harvard Professor can educate us all on
High class people are never been happy .. ..it’s the truth … Rich countries also have hunger , starvation , and ignorance problem … it is also the truth ….
I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Emily L Romano, imagine investing $12,000 and received $305,500.
You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment
Mrs Emily L Romano was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Emily L Romano.
She must be really dedicated and well trusted for people to talk much good about
I Started with $5,000 and Withdrew profits $89,000
just withdrew my profits a week ago,
To be honest it was an amazing feeling
when the profits hits my wallet I wish I
could reinvest but, too much bills
When we give our money to state and federal does that count as Tithes? If not then what is that? I’m sure it’s going to someone in need and fixing our roads
No, taxes are not tithes.
No taxes are theft lol. Tithing is willing giving to a presumed good cause that you believe in. You have no control what your tax money goes too... Most of it is wastes.
We don't necessarily give it. It's enforced by law.
Mark 12:13-17
We aren’t under the law of tithing. Give as you are led not by some formula.
Harvard? So the research is faked; got it, will wait for verification from a better team.
So many biases in this presentation/discussion.
Literally I can dissect every one of his superficial “insights.”
Just to pick one; “buy experiences not things” (he used watches as an example), the reason according to him is one is shallow wealth signaling “excess resources” (they both even laugh their little patronizing laughs) and the other is meaningful (he mentions going to Disney of all ridiculous examples).
Watches and Disney can be both meaningful or vacuous resource signaling depending upon the person’s intentions and reasoning. I have encountered many people who are very happy to tell you all about their fabulous trips (experiences) and how they augmented those experiences with helicopter tours of Grand Canyon, etc. I own about ten luxury watches because I have loved mechanical watches since I was about eight years old. No one knows how many I have, or what they are, or even notices them at all-no one cares. I know that, and I’m glad no one cares or knows, the watches are deeply personal.
Just another self-inflated Harvard “professor.” I bet he mentions he’s at Harvard within the first 5 minutes of every social encounter. A different form of signaling.
To your point though people have their cake and eat it to by peacocking their substantial experiences but I think he is trying to simply appeal to a wide audience with easy to digest examples that he needs to pack into a short segment. Expensive Watch vs Disneyland with the family would commonly translate to Peacocking vs Substantial Experience. It is up to us as individuals to understand his meaning and apply it to our unique lives. His body of work is clearly tackling helping people find happiness and he has a sobering recognition that he is viewing it from the lens of someone in a 1st world country. I think he means well.
@@Hermes-Gre
Fair enough. But as I mentioned I found every one of his “insights” to be biased and somewhat superficial; I just chose the watch-Disney one to illustrate.
Ask Sisyphus (Camus) if one needs to buy time in quest for deeper meaning in life. Again, I realize this is one example and my one perspective and that he is speaking to a broader audience that may indeed be less nuanced.
But for a “Harvard” professor I find him a little bland and unexciting. I say that as an alumnus. (lol…there I did it too. Irony intended.)
Did anyone tell this chap America is not a country, but a continent? Someone has been skipping geography classes.
North America is a continent. The Americas are continents. We’re the only country with America in the name. It’s fine…
“Harvard professor” used to be a reason to click on a video. Not so much anymore.
It seemed a good idea until you suggested that I would be happier spending my time reading the bible 😂
Why do I want more money? Is the surprising truth because I live in poverty and can barely afford groceries? No, that couldn't be it. Please, by all means, find me a Harvard professor to explain my own experience to me.
I believe in education, but this is why people don't trust academics. It's also why people don't trust channels with clickbait video titles.
❤
‘Thank God we live in America where we don’t have starvation issues ‘.. have you looked around you?
dude’s a Narc. I can smell ‘em a mile off
im sorry im not a woo-woo christian, im not going to "spend money to buy time... so that i can spend it reading the bible" says this dude. loooool
We can all use a bit of wisdom.
You had to hire a harvard professor to tell you something so obvious? 🤦♂️
"use the time meaningfully: Reading the Bible, going for a walk". That's when I clicked the thumbs down button and decided this video is a waste of time. Thanks for that insight.
Reading a bible is not a meaningful or beneficial use of anyones time.
It’s the difference between eternal life or eternal damnation. Salvation is free and a gift of God. Believe in the Lord Jesus Christ and you will be saved.
So yes it’s vitally important.
@@davidchupp4460 what do you say about all those schmucks before you that worshiped your lord jesus christ and never receiveded their eternal life's. jesus is at most a moral fairy tail to tell the masses about and keep them in line. There is absolutely no evidence for the existence of an afterlife, souls, or some omnipotent god like being. If you were born on an Asian continent to a different set of parents the likelihood of you worshipping your christian god is slim, how can you be so arrogant to proclaim that you have it right and they got it wrong which will cause them eternal damnation?!
@@davidchupp4460How would you demonstrate that eternal life exists?
@@Jonas-gl9keyou first need to believe a God exists and it’s fairly evident that nature animals, planets and humankind didn’t just come from nothing. Then we trust what God says is true. If he made you then he obviously understands things that you don’t.
A guy who believes in science, but on a show with a Trumper. Ugh.
Says the fool voting for the evil left.