Are rich people happier?

"A study in the US published in Social Indicators Research found that those who avidly pursued possessions were less satisfied with their friendship, families, jobs -even their health - than participants who were less materialistic."

- Stacy Weiner, The How of Happiness -

Warren Buffet, the rich guy, still lives in the same 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says he has everything he needs in that house.

Sometimes I wonder if I have all the things that I want now, would I be happier? Well, in the first place is there such a thing as happy-ER? If I buy a Celine sandals right now I would be happy... but if I buy those nice little Nine West peep toe shoes I would be happier! Actually, I'm happy right now with or without a new pair of shoes. I think despite being unable to follow my budget (still!) I have improved with my purchasing habits. I don't buy on impulse and I weigh if I really need to buy another item. Besides, consumerism contributes to filling up the landfills!

I really love Warren Buffet, he loves to play with money. He loves the game of acquiring money but not necessarily wallow on its spoils. I opened an account in BPI Trade last year to try my hand on investing. No big money involved yet, but surprisingly I loved the game! Choosing stocks, monitoring how they do everyday and how global economies affect our own. Since buying a few stocks I think I've already doubled my money. Thanks to the EDC IPO! And although some stocks have not done as great as EDC, I still earned more compared to leaving my money in a savings account. Well, stocks are so down now because of the bad US economy, but there's no doubt that their values will bounce back in a few months. Besides, low values means greater opportunities to buy.

Sometimes I envy some of my cousins who have thicker wallets, can afford to buy a new home, a new car. They were able to get very high paying jobs that unfortunately I didn't get. But somehow, I think its better that I didn't get that high-paying and very demanding job. I have more time in my hands, I have more freedom in my work and less corporate-crap, I have time to serve in my Church and I have more time to explore other financial opportunities. I mean if I experienced earning really big (6 figures) it would take hell before I leave it. I would be scared to get out of that financial security (actually, a job is far from being a financial security). And besides, however hard you work you will get the same salary... which is still only a very small fraction of what your company earns.

Without that big money in my hands, I am beginning to explore other sources of bigger money. I'm planning to open a small food cart in our area and an online store. I'm really really excited! This is what I want to do! Manage my own business and provide others with jobs.

I can't wait!