What is the psychological behavior of the affluent?

Wealthier children tend to be more distressed than lower-income kids, and are at high risk for anxiety, depression, substance abuse, eating disorders, cheating, and stealing. Research has also found high instances of binge-drinking and marijuana use among the children of high-income, two-parent, white families.

How does wealth affect psychology?

Instead, extremely rich people are at a higher risk for depression — not because of the amount of money they have, but because wealth can perpetuate a relentless need to acquire more that has been linked to unhappiness. Having a money-oriented approach to life has also been linked to lower relationship satisfaction.

Do rich people have higher rates of depression?

People who live in wealthy countries are slightly more likely to be depressed than those in low- to middle-income countries, a new study of global depression rates suggests. In the study, close to 15 percent of people in high-income countries said they experienced depression at some point in their lives.

What is a wealth psychologist?

A wealth psychologist is a mental health professional who specializes in issues relating specifically to wealthy individuals. Wealth psychologists are also called money psychologists or wealth counselors.

How does wealth affect depression?

Although the studies in the meta-analysis had substantial heterogeneity in the measurement of socioeconomic status and depression, the investigators found that individuals with low income were at increased odds (1.81) of depression compared with those in the higher income categories.

Does being rich make you happy?

People actually are happier when they make more money: Wharton study. Conventional wisdom suggests that “money can’t buy you happiness.” And well-known research from 2010 had shown that people tend to feel happier the more money they make only up until a point of about $75,000 a year.