i want a speech on the topic that money cant buy happiness
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Most of what we think we know about people with a lot of money comes from television, movies and beach novels — and a lot of it is inaccurate, says Robert Kenny, EdD.
In an effort to remedy that, Kenny, a developmental psychologist and senior advisor at the Center on Wealth and Philanthropy at Boston College, is co-leading a research project on the aspirations, dilemmas and personal philosophies of people worth $25 million or more. Kenny and his colleagues surveyed approximately 165 households via an anonymous online survey and were surprised to find that while money eased many aspects of these people's lives, it made other aspects more difficult.
The Monitor spoke to Kenny about his findings and about the significance of his research for those of us who don't have a net worth of $25 million or more.
WHAT PROMPTED YOU TO STUDY WEALTHY FAMILIES?
We wanted to try to understand the deeper motivations of people in high net worth households. They are rarely questioned about this, and instead are asked whether they would like a Mercedes or a Lexus. Do they prefer Tiffany's or Cartier? Most surveys of high net worth households are marketing surveys to sell a product, so the questions that are asked are pretty narrow.
We decided to ask three major questions: First, we asked, "What is the greatest aspiration for your life?" As far as we can tell, no one has ever asked this population that question, yet there are assumptions made about this all the time. The second major question was, "What's your greatest aspiration for your children?" Our third question was, "What's your greatest aspiration for the world?" After each of the major questions we asked, "How does your money help you with your greatest aspiration?" and, "How does your money get in the way?"
WHAT DID YOU FIND?
People consistently said that their greatest aspiration in life was to be a good parent — not exactly the stereotype some might expect. When asked whether their money helps with that, they answered with all the obvious: good schools, travel, security, varied experiences. But when we asked how their money gets in the way, that was a payload. We received response after response on how money is not always helpful. They mentioned very specific concerns, such as the way their children would be treated by others and stereotyped as rich kids or trust fund babies, they wondered if their children would know if people really loved them or their money, whether they'd know if their achievements were because of their own skills, knowledge and talent or because they have a lot of money.
Some were concerned about motivation. They worried that if their children have enough money and don't have to worry about covering the mortgage, what will motivate them? How will they lead meaningful lives? This is where the money might get in the way and make things confusing, not necessarily better. Very few said they hoped their children made a lot of money, and not many said they were going to give all the money to charity and let their kids fend for themselves. They were, however, really interested in helping their children figure out how they could live a meaningful life. Even though they did not have to "make a living," they did need to make a life.
As for the respondents' aspirations for the world, they focused, once again, on how to help the youth in the world live healthy, meaningful and impactful lives. Their answers were consistently youth-focused: They were concerned about being good parents, they were concerned about their children and they were concerned about the children of the world in general. We found that to be very interesting, and even surprising because it runs contrary to so many of the stereotypes about this population.
WHAT HAD YOU EXPECTED TO HEAR?
One could expect that you might hear things like, "I wanted to make a lot of money and become financially independent and be able to do whatever I wanted to do whenever I wanted to do it." But very few said anything like that, although they appreciated the temporal freedom. It was so non-financially focused. I expected that when we asked them about their greatest aspiration for their children, we'd get a lot more people saying they wanted their children to be world leaders, but that's not what they said at all. People said, "I'd like them to think about how to make their world a better place." Not the world, their world — their community, their neighborhood, their family.
In an effort to remedy that, Kenny, a developmental psychologist and senior advisor at the Center on Wealth and Philanthropy at Boston College, is co-leading a research project on the aspirations, dilemmas and personal philosophies of people worth $25 million or more. Kenny and his colleagues surveyed approximately 165 households via an anonymous online survey and were surprised to find that while money eased many aspects of these people's lives, it made other aspects more difficult.
The Monitor spoke to Kenny about his findings and about the significance of his research for those of us who don't have a net worth of $25 million or more.
WHAT PROMPTED YOU TO STUDY WEALTHY FAMILIES?
We wanted to try to understand the deeper motivations of people in high net worth households. They are rarely questioned about this, and instead are asked whether they would like a Mercedes or a Lexus. Do they prefer Tiffany's or Cartier? Most surveys of high net worth households are marketing surveys to sell a product, so the questions that are asked are pretty narrow.
We decided to ask three major questions: First, we asked, "What is the greatest aspiration for your life?" As far as we can tell, no one has ever asked this population that question, yet there are assumptions made about this all the time. The second major question was, "What's your greatest aspiration for your children?" Our third question was, "What's your greatest aspiration for the world?" After each of the major questions we asked, "How does your money help you with your greatest aspiration?" and, "How does your money get in the way?"
WHAT DID YOU FIND?
People consistently said that their greatest aspiration in life was to be a good parent — not exactly the stereotype some might expect. When asked whether their money helps with that, they answered with all the obvious: good schools, travel, security, varied experiences. But when we asked how their money gets in the way, that was a payload. We received response after response on how money is not always helpful. They mentioned very specific concerns, such as the way their children would be treated by others and stereotyped as rich kids or trust fund babies, they wondered if their children would know if people really loved them or their money, whether they'd know if their achievements were because of their own skills, knowledge and talent or because they have a lot of money.
Some were concerned about motivation. They worried that if their children have enough money and don't have to worry about covering the mortgage, what will motivate them? How will they lead meaningful lives? This is where the money might get in the way and make things confusing, not necessarily better. Very few said they hoped their children made a lot of money, and not many said they were going to give all the money to charity and let their kids fend for themselves. They were, however, really interested in helping their children figure out how they could live a meaningful life. Even though they did not have to "make a living," they did need to make a life.
As for the respondents' aspirations for the world, they focused, once again, on how to help the youth in the world live healthy, meaningful and impactful lives. Their answers were consistently youth-focused: They were concerned about being good parents, they were concerned about their children and they were concerned about the children of the world in general. We found that to be very interesting, and even surprising because it runs contrary to so many of the stereotypes about this population.
WHAT HAD YOU EXPECTED TO HEAR?
One could expect that you might hear things like, "I wanted to make a lot of money and become financially independent and be able to do whatever I wanted to do whenever I wanted to do it." But very few said anything like that, although they appreciated the temporal freedom. It was so non-financially focused. I expected that when we asked them about their greatest aspiration for their children, we'd get a lot more people saying they wanted their children to be world leaders, but that's not what they said at all. People said, "I'd like them to think about how to make their world a better place." Not the world, their world — their community, their neighborhood, their family.
palak22:
thanks. !!!!!¡
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