When people hear the word “wealth,” they almost always think of money. Bigger salaries, larger savings, a swelling investment portfolio—these have become the modern shorthand for success. Yet mounting evidence from psychologists, economists, and even medical researchers suggests that wealth, in its truest sense, is less about financial figures and more about the intangible forces shaping our lives.
The paradox is clear: we live in an era of unprecedented financial opportunity, yet levels of stress, loneliness, and dissatisfaction continue to climb. Could it be that money, while essential, is only a small piece of the abundance puzzle?
The Limits of Money in Securing Happiness
Decades of research show that money can boost wellbeing, but only up to a point. Nobel laureates Daniel Kahneman and Angus Deaton found in their landmark 2010 study that day-to-day happiness rises with income, but plateaus at around $75,000 a year (adjusted for inflation, about £60,000 in the UK). Beyond that, money may add comfort, but it does little to enhance life satisfaction.
In 2021, further research by Matthew Killingsworth at the University of Pennsylvania challenged and refined this finding, showing that emotional wellbeing can continue to rise with higher incomes—but the effect is far less dramatic than many imagine. The takeaway? Money solves problems of scarcity, but it cannot buy fulfilment, meaningful connection, or purpose.
The Currency of Time and Attention
More than money, time is increasingly being recognised as the true currency of abundance. A study published in Social Psychological and Personality Science found that individuals who prioritise time over money reported greater life satisfaction. Time scarcity—feeling perpetually rushed—has been linked with anxiety, reduced creativity, and even poorer health outcomes.
Dr Ashley Whillans, a behavioural scientist at Harvard Business School, argues that people who “buy back” time, whether by outsourcing chores or cutting unnecessary commitments, report higher levels of happiness than those who chase financial gain alone. In other words, the ability to control how we spend our hours may matter more to our wellbeing than the size of our bank accounts.
Relationships: The Greatest Asset
Perhaps the strongest evidence against equating money with wealth comes from the world’s longest-running study on adult development. For more than 80 years, Harvard University’s Study of Adult Development has tracked the lives of hundreds of people. Its conclusion is unambiguous: strong, supportive relationships are the single biggest predictor of health and happiness, far outweighing income or social status.
Dr Robert Waldinger, the study’s current director, puts it plainly: “Loneliness kills. It’s as powerful as smoking or alcoholism. The people who are more connected to family, friends, and community are happier, physically healthier, and live longer.”
Health as True Prosperity
Money cannot buy a healthy heart, restful sleep, or freedom from chronic pain. The World Health Organization points out that non-communicable diseases such as heart disease and diabetes now account for 74 per cent of global deaths, many of them linked to stress, poor diet, and sedentary lifestyles. No amount of financial wealth can compensate for the erosion of physical and mental health.
Abundance, therefore, requires investing not just in financial literacy, but also in exercise, nutrition, and stress management. Preventive health, according to economists at the London School of Economics, yields some of the highest returns of any form of investment, benefiting both individuals and societies.
Purpose: The Hidden Dimension of Wealth
Studies consistently show that people with a strong sense of purpose—whether through work, volunteering, or personal projects—report higher life satisfaction than those without. A 2019 study published in JAMA Network Open found that adults with a clear sense of purpose were less likely to die from cardiovascular disease and lived longer overall.
Purpose provides a compass, turning resources into impact and effort into meaning. Without it, even immense financial success can feel hollow.
Redefining Abundance
True wealth, then, is not merely measured in currency but in the balance of money, time, health, relationships, and purpose. Money provides a foundation—it can relieve stress, open doors, and buy security. But beyond that foundation, it is these non-monetary assets that sustain a life of abundance.
The danger lies in chasing financial gain at the expense of these other forms of wealth. In doing so, people risk waking up with more money than ever, yet feeling poorer in every other dimension of life.
In Conclusion
Wealth is less about the digits in your account than about the quality of your days. Abundance thrives where money intersects with time well spent, relationships well nurtured, health well guarded, and purpose well pursued. In a culture obsessed with financial metrics, perhaps the most radical act is to remember that the richest life is not always the most expensive one.
