26 October 2016
Being rich doesn't necessarily make a person happy. Photo: Internet
Being rich doesn't necessarily make a person happy. Photo: Internet

Why we need not envy the super-rich

It’s an age-old debate. Can money buy happiness?

Since the link between what we earn or own and how we feel is not that straightforward, there is no conclusive answer to the question. It also varies from individual to individual.

But what exactly keeps wealthy people from being happy?

A recent conversation with a friend who works closely with local property tycoons sheds some light on the issue.

Now, with the super boom in recent years that has sent local property prices to stratospheric highs, one would imagine these guys must be laughing all the time. That’s apparently not the case.

Come rain or shine, “lots of these rich guys always have a long face,” my friend says.

When the property market is in the doldrums, developers worry about not being able to move the inventory, which means tied up capital, extra interest expense, cashflow pressure.

So they spend all their time tracking the sales numbers.

Now during the boom time, when properties sell like hot cakes, you may think that these guys would be throwing a party. 

But in reality, the tycoons tend to agonize that may have priced their flats too low, or blame their staff for failing to maximize the profit.

Either way, they can’t win.

So perhaps, we don’t need to be too envious of the wealthy guys. They may have money, but they have their own set of problems.

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EJ Insight writer

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