Why lots of money, high paying jobs don’t breed contentment

Out of all the business films I’ve watched, Wall Street 2 has to be among my top 10. Superb acting, quotable one-liners, it’s always a joy watching. Unnecessarily long though (logs in two hours of playtime), it packs some good food for thought.

Recall Gordon Gekko giving a speech to university students and calling them the “Ninja generation”. No income, No Job. No assets?“ Isn’t this still true? I liked the “Green is the new bubble” line mostly because it reflects the usual corporate hypocrisy.

But it’s the remix of his famous line (found in the first instalment), “I once said greed is good. Now it seems it’s legal,” that always captures the mood. Today I borrow from a conversation Gekko’s son-in-law (played by Shia Labeouf) has with his boss (played by Josh Brolin).

Jacob asks, “What is the amount of money you’ll need to walk away?” And nonchalantly, Brolin answers; “More.” Which got me thinking; what’s my walkaway number? What’s that exact figure I would need to be content and happy?

For generations, society has grappled with the question of whether money brings happiness. The notion that has become accepted is that making money increases happiness. The idea (happiness plateau) has even won a Nobel prize. And you’ll often hear people say, “If you do not like money you must be a liar.” But my common sense tells me otherwise. Do I really need a second sports car and die to get a “flying mansion” to be happy?

If money is key, why are some of the wealthiest countries (some oddly ranked as the happiest) in the world suffering the highest suicide rates? Is contentment simply achieved by more money in the account?

In my humble opinion, no amount of money can make one content. In fact, the notion that you will be satisfied with life if you chase a money-oriented achievement – like a big promotion or a particular figure for your portfolio – pushes happiness into the future and is always out of reach. If truth be told, the blind pursuit of money can make one miserable.

One inspired author even said, “Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. For the love of money is the root of all kinds of evil.”

Supporting this view is a Harvard Study of Adult Development, considered to be the world’s longest study on happiness. After surveying participants with “more prestigious jobs paying good money”, they found that they were no happier in their lives.

Not to be misunderstood, having lots of money is good, in fact, money helps you to pursue and achieve your life goals. But no amount of money can achieve true contentment. That said, there’s a reasonable chance if one pursues love, gentleness, charity, faith, even spending as much time with your spouse and kids as Jacob’s mentor (played by Frank Langella) advised in the movie, et cetera, then perhaps one may find it. So answering the question above: what’s anyone’s walk-away number? The quick answer: there shouldn’t be any.

Mwanyasi is MD, Canaan Capital.