Skip to Search Skip to Live Player Skip to Content Skip to Footer

Orlando & The Freakshow

New Study Shows Money Can Buy You Happiness

Author Richie Ortiz

Turns out we were lied to our entire lives. We have all heard it before. The phrase “Money can’t buy you happiness”. We were led to believe it was true, but science has recently proven the statement wrong. Man can actually buy you happiness.

The Study

According to a new study by Matt Killingsworth and the University of Pennsylvania, there is a connection between money and happiness. By examining over 30,000 employed adults and ultra-wealthy individuals, Killingsworth’s research showed that wealthier people tend to report significantly higher life satisfaction compared to middle- and low-income individuals.

Killingsworth’s data also suggests that the disparity in happiness is larger among those with very high incomes compared to those earning just over $500,000 annually. One key insight from the research is that the feeling of control over one’s life plays a major role in this association. Killingsworth believes that money’s impact on happiness is not just about purchasing power but also about the freedom and control it provides.

Killingsworth told The Guardian “Ironically, part of the reason I’m so interested in happiness is because money alone – which we’re already pretty motivated to pursue – is just one small part of the overall equation for happiness. So part of the reason I study happiness is to broaden our horizons beyond things like money.”

So even though money can, in fact, buy you happiness, Killingsworth wants you to know there are other factors that play a role as well. Even though the happiness threshold starts at about $75,000 a year, you should be focusing on other ways to make you happy than just money. However, you better believe my conversations are going to be different. When someone tries to tell me “Money can’t buy you happiness” now, I’m going to answer back “But I’ve never seen someone crying in a Lambo.” with confidence knowing I have science supporting me.

Rich grew up in the Bronx, NY but moved to Tampa in 2006 to attend the University of Tampa. Even though he completed 4 years at the University for Sports Management, Ortiz realized his true passion for radio after taking a couple of classes to fulfill his communications minor and volunteering at UT's WUTT radio station as a sports director. Rich also worked at several clubs in Tampa as a host/promoter where he would meet and work alongside Davy Rolando, who would be the one who would help him get a job at WiLD 94.1. From there, Rich worked his way up from Promotions assistant to promotions coordinator, to eventually full-time on-air. Rich loves to write about his favorite Tampa food spots, concert reviews, and the WiLDest Florida man/woman stories.

Make Your Money Grow with These Low-Risk Investments

If you have some money wasting away in a savings account that doesn’t have interest, then you might want to consider making your money grow with low-risk investments. Financial experts say that certain low-risk investments can really help pad your savings.

What Are Low-Risk Investments?

Before we get into the best low-risk investments, let’s look at what exactly is a low-risk investment. The official definition is basically what you would expect from the definition of a low-risk investment. According to the financial experts at Capital.com, it’s “an investment where there is perceived to be just a slight chance of losing some or all of your money. Low risk investments offer you a security blanket as they’re not likely to suddenly drop in value.”

In contrast, according to Investopedia.com, “A high-risk investment is one for which there is either a large percentage chance of loss of capital or under-performance—or a relatively high chance of a devastating loss.” They add that, “The first of these is intuitive, if subjective: If you were told there’s a 50/50 chance that your investment will earn your expected return, you may find that quite risky.” So, for example, a 50/50 risk might not seem risky to some, but it might seem risky to others. An investment with a 99% risk will obviously seem risky to everyone. But, with high-risk investments come big payouts, so that’s what lures people in. For example, a separate article from Investopedia.com states that some high-risk investments can double your money. That’s obviously a much bigger return than you would see in your average investment. As they state, “Make no mistake, there is no guaranteed way to double your money with any investment. But there are plenty of examples of investments that doubled or more in a short period of time.”

So, if you’re interested in making a ton of money, or losing it all, high-risk investments such as investing in foreign emerging markets may be of interest to you. “A country experiencing a growing economy can be an ideal investment opportunity,” experts at Investopedia.com state. “Investors can buy government bonds, stocks, or sectors with that country experiencing hyper-growth or ETFs that represent a growing sector of stocks.” They add “spurts in economic growth in countries are rare events that, though risky, can provide investors with a slew of brand new companies to invest in to bolster personal portfolios.”

Now, let’s move onto some low-risk investments for those who don’t want to risk losing their money. Of course, talk to your financial advisor before making any of these moves.

  • Invest in certificates of deposit (CDs)

    You’ve probably heard of CDs being low-risk investments. Fidelity.com explains that “CDs provide reliable, fixed-rate returns on a lump sum of money over a fixed period of time, such as six months, one year, or five years.” They add that the great thing is that if you “get a traditional CD at a bank or credit union where they are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Association (NCUA).” Usually, CDs have a minimum deposit, and you’ll have to pay a penalty if you take your money out too soon.

    Woman putting money in piggy bank.

    Getty Images / AaronAmat

     

  • High-yield savings accounts

    High-yield savings accounts are like your regular savings account, but they earn more interest. “You can use these accounts for long-term savings goals or to hold extra money from your checking account,” CreditKarma.com states. “For example, if you want to start saving for a house or building up an emergency fund, this could be a great option.”

    Money.

    Getty Images /

  • U.S. treasury bills, notes and bonds

    Forbes.com says that right now, the risk level for U.S. treasury bills, notes and bonds is “very low.” They add that, “U.S. Treasury securities are backed by the full faith and credit of the U.S. government. Historically, the U.S. has always paid its debts, which helps to ensure that Treasurys are the lowest-risk investments you can own.”

    Coins.

    Getty Images / sommart

  • Money market funds

    Fidelity.com states that, “Money market funds are mutual funds that invest in short-term, low-risk assets like Treasury and government securities, commercial paper, or municipal debt—depending on the focus of the fund.” They add that, “Because their underlying investments are typically high quality, they are generally less volatile than other types of mutual funds, such as stock funds.”

    Coins and a plant.

    Getty Images / Khongtham

  • Fixed annuities

    Fixed annuities are a pretty safe bet. As Forbes.com explains, “Fixed annuities are a popular type of annuity contract that are frequently used for retirement planning, but can also be useful for medium-term financial goals.” They add that, “Sold by insurance companies and financial services companies, a fixed annuity guarantees a fixed rate of return over a set period of time, regardless of market conditions.”

    Cash in a cup.

    Getty Images / artisteer

     

  • Invest inside your comfort zone

    People talk about stepping outside of their comfort zone in life, but really, investing isn’t a place to do this. You know how much money you have to “play” with, so if you’re worried about putting too much money in the market, these low-risk investments could still help you make money on your money.

    Piggy bank

    Getty Images / Nattakorn-Maneerat

Get The WiLD Flex Newsletter Delivered To Your Inbox

Stay connected with the hottest celebrity, music and Tampa/St. Pete stories, exclusive contests, games, and more.

*
By clicking "Subscribe" I agree to the website's terms of Service and Privacy Policy. I understand I can unsubscribe at any time.
Author Richie Ortiz
Category:
Tags:
,,,,,

More Orlando & The Freakshow

Load More