Dr. Paul Hokemeyer

What are the 3 barriers to living a ‘good life’ for the rich and powerful?

Each and every one of us has thought about what we would do if we were to win the lottery. Would we quit work? Would we give most of it away to charity? Would we build a house for our parents? Would we hang out on beaches and drink pina coladas all day?

There are many stories of individuals who—after a windfall—have either piddled away their fortunes or continued working, amassing even more money. Interestingly, both of these groups have similarities as you will read ahead.

We know that money doesn’t bring happiness, but a certain amount does. A few years ago, researchers at Purdue University and the University of Virginia did a study that concluded that $95,000 was the ideal income for individuals, and $60,000 to $75,000 was necessary for emotional well-being. 

So why aren’t those richer than $95,000 happier with the added cash? 

We asked psychotherapist Dr. Paul Hokemeyer, aka “Dr. Paul,” what he thinks, as he is specialized in treating people on both ends of the economic and power spectrum.