New research shows that every $50,000 of income lowers a person’s risk of death by five percent. Money may not buy happiness, but it could buy you a longer life. New research concludes that being wealthy can add years to your lifespan. Study Finds reports:
Researchers at Northwestern University say that every time another $50,000 accumulated by middle age, an individual’s risk of death drops. And for those who had stashed $139,000 more than a sibling, their chances of outliving them increased.
The study is based on 5,400 Americans tracked for almost a quarter of a century.
“One of the keys to a long life may lie in your net worth,” says corresponding author Dr. Eric Finegood, a postdoctoral fellow in the Institute for Policy Research at Northwestern. in a statement.
Unsurprisingly, the COVID-19 pandemic widened the wealth gap. Amid the misery, the number of millionaires in the U.S. rose last year by 5.2 million – to over 56 million. Mortality rates fell five percent for every additional $50,000 of net worth accumulated by middle age.
Moreover, the same phenomenon was identified among the 2,490 who were twins or siblings. Big earners were more likely to outlive brothers and sisters on smaller salaries. “A difference of $139,000 was associated with a 13 percent relative decrease in the probability of death nearly 24 years later, favoring the family member with a higher net worth,” says Dr. Finegood.
It suggests affluence leads to good health, rather than being a reflection of heritable traits or early experiences that cluster in families.