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Eric Schmidt: Above a Certain Income, Money Stops Making You Happier

By Eric Schmidt · Mindset & Career · 1 min read

Schmidt says there have been many studies of human happiness. Above some threshold — which is typically relatively low — there's no difference in happiness based on money. Happiness is correlated with meaning and purpose.

Key Points

Above some threshold, there's no difference in happiness based on money
Happiness is correlated with meaning, purpose, family, and a sense of impact
People are happiest when they're serving others, not themselves

Above some threshold, there's no difference in happiness about money. Happiness is correlated with meaning and purpose, a sense of family, a sense of impact.

The Happiness Threshold

Schmidt: There have been many studies of human happiness. Above some threshold — which is typically relatively low for this conversation — there's no difference in happiness based on money.

Happiness is correlated with meaning and purpose. A sense of family. A sense of impact.

Above some threshold — which is relatively low — there's no difference in happiness based on money.

Figure Out What You Care About

Schmidt: If you organize your life — assuming you have enough to get around and have a nice home and so forth — you'll be far happier if you figure out what you care about and work on that.

It's often being in service to others. There's a great deal of evidence that people are happiest when they're serving others and not themselves. This goes directly against the press-induced excitement about powerful and wealthy leaders.

You'll be far happier if you figure out what you care about and work on that.

Use Fortune as Responsibility

Schmidt: If you're in a situation where you've been very fortunate — as I have — you have to take that as a responsibility. You have to work to educate others, give them opportunity, and use that wealth to advance human society.

It doesn't matter what you do. It matters that you believe in it, that it's important to you. Your life will be far more satisfying if you spend your life doing that.

It doesn't matter what you do. It matters that you believe in it. Your life will be far more satisfying.