The value of a purposeful life: Sense of purpose predicts greater income and net worth

Patrick L. Hill*, Nicholas A. Turiano, Daniel K. Mroczek, Anthony L. Burrow

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

31 Scopus citations

Abstract

Having a sense of purpose in life appears valuable across life domains, though it remains unclear whether purpose also provides financial value to individuals. The current study examined sense of purpose as a predictor of concurrent and longitudinal income and net worth levels, using two waves of the MIDUS sample of adults (N = 4660 across both assessments). Participants who reported a higher sense of purpose had higher levels of household income and net worth initially, and were more likely to increase on these financial outcomes over the nine years between assessments. Interaction tests suggested some evidence of age moderation, but gender did not appear to moderate the influence of purpose on economic outcomes.

Original languageEnglish (US)
Pages (from-to)38-42
Number of pages5
JournalJournal of Research in Personality
Volume65
DOIs
StatePublished - Dec 1 2016

Keywords

  • Age moderation
  • In life
  • Income
  • Net worth
  • Purpose

ASJC Scopus subject areas

  • Social Psychology
  • Psychology(all)

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