Grant Cardone Says: 'If You Are Going to Be Unhappy, Be as Rich as Possible' – Turns Out He's Right. People Making $500k A Year Are Happiest

Grant Cardone, known for his no-filter approach to business and life, isn't shy about stirring the pot with his bold opinions. In 2016, he posted on Facebook, "If you are going to be unhappy, be as rich as possible." At first glance, it might sound like just another tongue-in-cheek remark from the man who's built his fortune with relentless ambition. But behind that brash statement is a deeper question: Does money buy happiness or is there more to the story?

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The Relationship Between Wealth and Happiness

Research has long shown that money does impact happiness – at least up to a point. A famous 2010 study by Nobel laureates Daniel Kahneman and Angus Deaton found that emotional well-being tends to plateau once annual income reaches around $75,000. Adjusted for inflation today, that number may be closer to $100,000. However, the basic idea stands: money reduces stress related to basic needs but doesn't always guarantee a lasting sense of fulfillment.

Fast-forward to more recent data from a study published in Proceedings of the National Academy of Sciences in 2021, which challenged the $75,000 threshold. The study found that happiness may indeed increase with income, even beyond that six-figure mark. Money does seem to boost happiness – for most people, that is – up to incomes of $500,000 a year. Beyond that amount, studies lack conclusive data. 

But is it really about money itself or what it represents – freedom, security and choice?

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Cardone's View on Wealth: More Than Just Dollars

In Cardone's world, being "as rich as possible" isn't just a safeguard against unhappiness but a means to expand one's choices and freedom. Money might not buy genuine contentment, but it can buffer against life's stresses and open doors to experiences and solutions that might otherwise remain closed.

His take suggests that even if life throws unhappiness your way – whether through challenges, failures or personal issues – it's better to face it with the financial means to handle it. The logic? Money might not solve every problem, but it certainly gives you more options for tackling them.

The responses to his Facebook post were a mix of skepticism and agreement. One user took a jab, writing, "I'm just going to take a stab in the dark, but I'm guessing you're not dealing with depression issues, Grant Cardone," suggesting he was glossing over deeper emotional struggles. Another commenter, however, backed up Cardone's point, adding, "Some people are unhappy no matter how much money they have. Might as well have a lot of it," implying that if misery is on the table, you might as well have the cushion of wealth to soften the blow.

It's worth noting a key detail in the study claiming happiness increases with income up to $500,000 and maybe beyond. The study points out that happiness tends to rise with income only if someone already has a basic level of happiness. So, Cardone's suggestion might not be the answer if someone is already unhappy. 

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What Do Studies Say About the superrich and Happiness?

The Harvard Business Review notes that while billionaires report higher levels of life satisfaction than the average person, they often grapple with unique problems money doesn't fix, such as trust issues and the pressure of maintaining their wealth.

One insight that stands out is that it's not just about how much money is spent. People who spend their money on experiences – like travel, learning or even donating to causes they care about – tend to report higher happiness levels than those who spend primarily on material possessions.

Finding the Balance

The key takeaway might be that while money can't buy happiness, it can buy the tools that make happiness easier to reach – like time, experiences and a sense of security. As Cardone hints, if you're already unhappy, you may as well be in a position where financial worries aren't adding to your list of concerns. But it's equally important to remember that fulfillment often comes from nonmonetary sources: strong relationships, meaningful work and a sense of purpose.

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