Well, are rich people happier? Researchers have found that in poor countries, being relatively well off does make for greater wellbeing. We need food, rest, shelter and social contact.
But a surprising fact of life is that in countries where nearly everyone can afford life's necessities, increasing affluence matters surprisingly little. The correlation between income and happiness is "surprisingly weak", observed University of Michigan researcher Ronald Inglehart in one 16-nation study of 170,000 people. Once comfortable, more money provides diminishing returns. The second piece of pie, or the second $100,000, never tastes as good as the first.