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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (122537)5/9/2010 8:03:15 AM
From: Pogeu Mahone  Read Replies (1) of 132070
 
I found wayne`s scumbag!-s-
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Fed’s advice: Seek joy, not wealth

By Associated Press | Sunday, May 9, 2010 | bostonherald.com | Business & Markets

Photo by AP (file)
Money can’t buy you happiness.

That was the message from the Federal Reserve chairman yesterday to graduates of the University of South Carolina.

“We all know that getting a better-paying job is one of the main reasons to go to college. ... But if you are ever tempted to go into a field or take a job only because the pay is high and for no other reason, be careful!” Ben Bernanke said in his commencement address.

“Having a larger income is exciting at first, but . . . the thrill quickly wears off,” he said.

The Fed released his prepared remarks before he gave the speech.

Studies found that just six months after winning a large lottery prize - even in the millions of dollars - people reported being not much happier than they were before winning, Bernanke said.

Bernanke’s advice blended what economics and social science have to say about personal happiness. When you boil down all the studies and fancy formulas, it sounds a lot like what your parents told you.

“In the long run. . . it is essential for a well-balanced and satisfying life,” Bernanke said.

Article URL: bostonherald.com
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