“Money can’t buy happiness” is the kind of thing people usually say after buying everything else. And last week, Elon Musk — the richest man in the world — said it too.
In a post on X on Wednesday, Musk wrote:
“Whoever said ‘money can’t buy happiness’ really knew what they were talking about” — and added a sad emoji at the end.
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Meanwhile, 88% of Americans say financial stress isn’t philosophical — it’s their Tuesday.
Financial Stress Isn’t Theoretical — It’s Every Trip to the Grocery Store
According to the National Endowment for Financial Education, 88% of U.S. adults entered 2026 feeling financially stressed. Another 77% said they experienced a financial setback in 2025. That could mean job loss, surprise medical bills, a major car repair, or just the daily grind of trying to outpace inflation with a fixed paycheck.
When asked what they expected to spend the most on this year — excluding rent or mortgage — the top three answers were clear:
- Paying down debt: 40%
- Home-related expenses: 36%
- Transportation costs: 32%
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Only 36% said they were certain they could cover an unexpected $2,000 expense. Most would rely on credit cards, emergency savings, or borrowing from someone they know. Others said they’d sell something or use a Buy Now, Pay Later option just to make it through.
And when it comes to how people feel about their current financial life, 41% said it’s about what they expected. Another 38% said it’s worse.
So yes — money might not guarantee happiness. But in a country where nearly 1 in 2 people can’t absorb a basic financial surprise, it’s safe to say having more of it wouldn’t hurt.
The Research: Money Can Buy Stability, Which Feels a Lot Like Relief
In a study published in the Proceedings of the National Academy of Sciences, Killingsworth found that happiness continues to increase with income. There’s no magic salary where joy levels off. Emotional well-being and life satisfaction tend to rise together — especially for people not already struggling with deeper issues.
In simple terms: money doesn’t fix everything, but it does make life easier to navigate. And for the majority of Americans juggling bills, debt, and daily costs, more income means fewer fires to put out and more energy to spend on things that actually matter.
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A Financial Advisor Won’t Launch You Into Orbit — But They Might Help You Breathe
Most people don’t need a billionaire’s bankroll. They just want to stop guessing whether their card will decline at checkout. That’s where a financial advisor can help.
Platforms like Domain Money can match you with a dedicated CFP who helps build a personalized plan around your income, goals, and priorities — no jargon, no commissions, and no asset minimums.
An advisor won’t make you rich. But they can help you craft a plan that fits your reality, your income, and your goals — not someone else’s highlight reel.
Because for Musk, happiness might be complicated. For the rest of us, sometimes it’s as simple as affording a car repair without taking out a loan.
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