since the latter has been measured. For convenience and availability matters, income (what people earn) was mostly used at … SWB. In most cases, wealth is more important than income from the perspective of SWB. Theoretical and empirical reasons …

, much of the literature has used income as a proxy for economic well-being. This is a narrow measure of the resources that … theoretical perspective, wealth is a better indication of life-time financial resources, as compared to income which is recorded … at a point in time. More recent research has indicated that wealth, or income and wealth taken together, explain more of …