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Top 10 surprising disadvantages of being rich

It was no surprise to anyone that rich people enjoy a number of benefits that the rest of us do not have. They are generally healthier, happier with their lives and, most importantly, have a ridiculous amount of money, which is really their own reward. The benefits of being rich have been discussed by philosophers and amateur financial bloggers alike, and for good reason. having a lot of money is really great!

However, what they don’t tell you is that there are also some hidden drawbacks, most of which remain largely unrequested due to the unspoken social stigma about money. And no, we’re not talking about problems like “my lawn is too big”. Being rich creates real problems that can affect everything from your health to your personal relationships.


0 things rich people do that you don’t

10th alcoholism

Even if we don’t recognize it, many people intuitively combine alcoholism with financial stress and lower income levels. There may also be a connection between the two, but we can say with certainty that this has nothing to do with the money itself. On the contrary – at least according to one study – alcoholism appears to be far more common in the richer parts of society.

The study, carried out by the Norwegian University of Science and Technology, was carried out in over 40 countries in Europe. They found that countries like the UK, Ireland and Portugal drink the most, although there were differences in alcohol rates in each country. Almost all of Europe, the rich seem to drink a lot more than the poor.

While it may not sound intuitive, other studies suggest that it may only be about access. rich people drink a lot because they have more alcohol to drink.[1]

9 Anxiety and depression

There is no doubt that being rich alleviates psychological stress and increases your overall life satisfaction, although there are some other psychological problems as well.

In many studies in the past, being rich has been associated with a higher level of various mental disorders – such as anxiety – along with some other problems that you would not expect. For example, one study found that young people living in wealthy suburbs are much more likely to have mismatch indicators – such as higher levels of anxiety and depression, narcissism and drug abuse – than downtown children.[2]

8th Making more money will only make you moderately happier

We assume that most of our problems could be solved with more money, but as we would prove step by step with this list, that’s not even close to the truth. There are some short-term and long-term problems associated with being rich, and the compromise is hardly worth it.

Making more money doesn’t increase your overall happiness beyond one point unless you hit it really big. Research also proves it; While making more money means a higher level of luck, it is only until you have reached a certain number. In addition, more money hardly affects your happiness level. This means that someone with a net worth of $ 10 million is likely to be as happy as someone with a $ 100 million, even though earning that $ 90 million still takes a lot of effort.[3]

7 It is boring

The only thing that excites most people is the prospect of never having to work again. Imagine how much time you would have for yourself if you simply had too much money to live on your whole life?

While it is true that you have more hours a day to spend with a lot of money than with someone who has to make a living, it also gets pretty boring. According to a millionaire, this is one of the biggest drawbacks when making a lot of money. Working for food and shelter not only provides food and shelter, but also the motivation to get better in life (mostly to get better food and more shelter). A lack of motivation and drive can – and often does – lead to other, bigger problems like depression.[4]

6 It makes you less inclined to take risks

It is a common notion that the richer you are, the more risk you take than others simply because you have more money to risk. While this reasoning sounds correct – since rich people have much more influence, for example, to invest in a risky startup – science says that this is not the case, or at least not when it comes to a lot of money.

Studies show that rich people like to take more risks, but this only applies if the sum is relatively small. When it comes to larger amounts relative to their total assets, they are actually the safest financiers that we know of.[5]

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5 stress

When you consider how bad the job market is for almost everyone at the moment, you can assume that the most stressed part of the workforce is the younger and poorer. Millennials and other younger generations are also popularly stressed more than any previous generation. From rising student debt to exorbitant property rents in most urban areas of the world, things are not looking good for anyone who is not old and wealthy.

However, as it turns out, this perception could not be further from the truth. Quite a few studies indicate that older[6] and richer[7] Workers actually report a much higher level of work-related stress than their younger colleagues. While this may mean more money is associated with more stress, it may also mean that younger, less experienced professionals are only more tolerant of everyday work problems.

4th Property liability

As the world prepares for (further) economic cooling, the differences between possessions and property have grown even larger. No matter where you look, there is a growing – and rapidly spreading – wave of discontent against increasing inequality and the excesses of power and money that have come into focus for the first time since the 2008 financial crash.

One of the social impacts of this wave of unrest is a growing sense of what the rich call “wealth debt,” and that’s exactly what it sounds like. The rich – even those who do it right and take care of their own affairs – are increasingly taking steps to avoid appearing too rich, which is in direct contrast to the belief that it was put on display in the early 2000s Has.[8]

3rd It makes you less generous

If you do a quick survey of everyone around you who donates to charity, you will find that some people don’t because they just don’t have the free money. This is fair enough and would even lead you to believe that features like generosity only depend on how much money you have.

Unfortunately, this is not the case at all, and this has been proven by some studies in the past. More money actually makes you more protective of what you have and, in turn, makes you less generous.[9]

2nd … and less sensitive

Making more money doesn’t just make you more protective. Some research suggests that the more power and money you get, the less sensitive you are to the needs of others. While it may sound depressing, there are some valid evolutionary reasons for it.

During our days as hunters and gatherers, leaders should be able to lead well, and any distraction or empathy towards, for example, an injured member of the pack would have jeopardized everyone else’s safety. The reduced empathy helped managers to do their jobs better and successfully pass on their genes. That is why the people with the greatest power rarely use it to fix things. They are simply not evolutionarily wired to it.[10]

1 narcissism

It is unfair to paint a group with a single brush, although the stereotype of “legitimate brat” is too common not to mention here. It’s a common notion that the richer you are, the more selfish you become, although how accurate is it really?

If scientific studies matter, pretty much. At least five studies suggest that wealth is largely linked to narcissistic tendencies – as seen regularly in the mirror – and claim. However, the reasons for this are not as simple as “rich people are just idiots”.

Having more money than others is associated with the social and psychological cost of less trust in the world around you, because you never know who you like for your money. It causes you to only look for solutions internally, which is obviously not a very healthy way of living in a society, leading to mental problems like narcissism.[11]

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Himanshu Sharma

Himanshu has written for websites like Cracked, Screen Rant, The Gamer and Forbes. One could find that he insulted strangers on Twitter with profanity or tried amateur art on Instagram.

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