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  • Social Psychological & Personality Science

Time Use and Happiness of Millionaires: Evidence from the Netherlands

By: Paul Smeets, A.V. Whillans, Rene Bekkers and Michael I. Norton
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Abstract

How do the very wealthy spend their time, and how does time use relate to well-being? In two studies in the Netherlands, the affluent (N=863, N=690) and the general population (N=1232, N=306) spent time in surprisingly similar ways, such as by spending the same amount of time working. Yet, the nature of their time-use differed in critical ways that are related to life satisfaction. In Study 1, millionaires spent more time engaged in active leisure (e.g., exercising and volunteering) rather than passive leisure (e.g., watching television and relaxing). In Study 2, millionaires spent more time engaged in tasks at work over which they had more control. The affluent sample belongs to the top of the income and wealth distribution, representing a significantly wealthier sample than in previous studies. These results further our understanding of when and how wealth may translate into greater well-being.

Keywords

Time And Wellbeing; Wealth; Millionaires; Social Class; Wealth; Happiness; Demographics

Citation

Smeets, Paul, A.V. Whillans, Rene Bekkers, and Michael I. Norton. "Time Use and Happiness of Millionaires: Evidence from the Netherlands." Social Psychological & Personality Science 11, no. 3 (April 2020): 295–307.
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About The Authors

Ashley V. Whillans

Negotiation, Organizations & Markets
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Michael I. Norton

Negotiation, Organizations & Markets
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More from the Authors
  • The What Works Centre: Using Behavioral Science to Improve Social Worker Well-being (A) and (B) By: Ashley V. Whillans
  • Time Smart: Tools for Reclaiming Your Time and Living a Happier Life By: Ashley V. Whillans
  • Can't Buy Me Love (or Friendship): Social Consequences of Financially Contingent Self-Worth By: D. Ward, L.E. Park, K. Naragon-Gainey, H. Jung and A.V. Whillans
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