Article: Money Doesn't Buy Happiness -- Except When Disability Strikes, University of Michigan Study Suggests; Financial 'Buffer' Appears to Help Preserve Well-Being After Health Setbacks.

Byline: University of Michigan Health System

ANN ARBOR, Mich., April 6 (AScribe Newswire) -- The old saying that "money doesn't buy happiness" may hold true most of the time. But when a serious health problem comes along, financial resources may really cushion the blow to a person's psyche, a new study suggests.

The finding, made by researchers at the University of Michigan Health System and the VA Ann Arbor Healthcare System, stands in contrast to previous research that showed no major differences in self-reported happiness and well-being between wealthy people and those with modest financial assets.

Instead, the study finds that people with ...

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