What do you need to live a happier life? Is money important to live happily? How much money is rich? The Ukrainian recruitment company Head Hunter questioned Ukrainian white collar workers to find out what makes them happy and whether their happiness depends on the amount of money they have.
How Much Money Is Rich?
According to the survey, the absolute majority of Ukrainians (two-thirds of respondents) believe that wealth is one of the key ingredients of happiness. However, only 2% think that happiness is completely dependent on amassing a certain amount of money. 11% say that wealth is unlikely to equal happiness while 13% state that money can’t buy happiness.
Those who stated that financial assets do bring happiness indicated how much money it takes to be considered rich.
- About a quarter of respondents think that a person needs USD $1 million in a bank to be considered rich.
- 1 in 6 is convinced that $300-500 thousand is enough to call be considered wealthy.
- 18% believe that people who have $100-300 thousand in cash may be defined as rich.
- 7% consider the sum of $20-50 thousand a to be sufficient for the “wealthy” status.
- Other 7% think that you can be rich in Ukraine having less than $20,000.
However, the majority of Ukrainians would feel happy earning $700 a month.
But what do Ukrainians mean when talking about rich people? What does it mean to be rich in Ukraine?
- Financial security (savings in a bank account);
- Material goods and services that can be purchased (expensive property and cars, access to quality healthcare and education, regular luxury trips abroad);
- Investments and possibilities to accumulate funds (own business, investments in profitable projects);
- High level of social status (reputation, presence in the Forbes list, participation in social events; power and influence);
- Human capital assets (high intellectual abilities, professionalism, ambitiousness);
- Intangible assets (health, family and children, confidence in the future, self-sufficiency, freedom);
- An opportunity to help others; engagement in charity.
Infographics: hh.ua
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These stats are true not only for Ukraine, but to many other nations. I this being rich is not always about money, even though we have to donate them to our life so we can do what makes us happy. These numbers is really high, I must say. But it’s the truth, stats don’t lie.
I do not know, how much money, do we need, but absolutely for sure I know, that when the pension is about 40$ – something is wrong in this country. I can’t explain to my parents, what is it to be rich, because they just have to survive. Our banks – is the last place, where I’ll bring my money.
Yes, in a way, money gives some freedom of actions, but I don’t think it should be directly connected with happiness. Happiness is something more than material well-being. Even rich, you can’t be happy without normal personal life and good health. And these things cannot be bought for any price.
Money does not buy happiness, but it does help you to go out and look for it…..just teasing )))).
In my opinion, intangible assets do not belong to the topic of “Being rich”. And two-thirds of the respondents confuse wealth and happiness only because of the low standard of living in Ukraine. Everything was in confusion in the mind of the people … How to be happy? Easily! The car, a regular travel abroad. We need another survey to determine the percentage of happily people among the rich)
They say wealth doesn’t buy happiness. But let’s think about what makes us happy? Healthy family, exciting trips abroad, stylish clothes and a cozy flat for living – all of that require money. So we can not underestimate the importance of wealth.
I’m not too sure about that “what does it mean to be rich in Ukraine” list. To me that’s more of a “what does it take for other people to THINK you’re rich in Ukraine” list. But the vast majority of people with solid, secure private wealth don’t want anyone know about it that doesn’t have to, and they have no reason to impress others or care what others think. Letting people know you’re wealthy and losing your anonymity is a bad business decision, and they don’t make bad business decisions to feed their narcissism or ego. That’s not how… Read more »
Well said Chris. The freedom to do what you want is by far the biggest achievement in life that anyone can strive for. It does require some money though.
No question! And some people lovr their wotk so much thst working IS what
Hm, it’s quite philosophical question. Any human getting more wants even more. It’s never enough. Ask somebody from European country if they have enough. They will start telling you about high taxes which are “eating” the biggest part of their salary.
I think money is a very important part of our lives, but usually those who have earned a lot of money agree that money can not bring happiness. Happiness does not depend on material things. It is very important to understand things like that.
Money by itself cannot make you happy. But a lack of money can make your life unhappy.