There are plenty of reasons why you might want to earn more money. You can save more for a rainy day, invest in property, just buy stuff. While those are all common motivations for making some extra cash, a new study has found an even more compelling reason why you should keep an eye on the bottom line.
You’ll live longer. Researchers have found that your net worth is one of the keys to longevity.
In the first wealth and longevity study to use data from siblings and twins, researchers from Northwestern University analyzed the midlife wealth of adults (mean age 46.7 years) and their mortality rates 24 years later. They found that those who had the highest net worth at midlife were more likely to live longer.
“The within-family association provides strong evidence that an association between wealth accumulation and life expectancy exists, because comparing siblings within the same family to each other controls for all of the life experience and biology that they share,” said study author Eric Finegood, a postdoctoral fellow at Northwestern.
The researchers found that for every $50,000 in wealth an individual accumulates by middle age, their probability of death decreases. Those who had a net worth of $139,000 more than their sibling were most likely to outlive them.
“Far too many families are living paycheck to paycheck with little to no financial savings to draw on in times of need,” said Northwestern Professor Greg Miller, who co-authored the study. “At the same time, wealth inequality has skyrocketed. Our results suggest that building wealth is important for health at the individual level, even after accounting for where one starts out in life.”
So, it turns out that the rich live longer than the poor. We kind of suspected that all along, but now science has come up with a way to prove it statistically.
You can read more about this study here.