The Psychology of Wealth

This course presents the findings of a groundbreaking study on the psychology of wealth, revealing 7 surprising secrets of the ultra-wealthy. The study was conducted by the instructor, Dr. Brad Klontz, and Paul Sullivan of the New York Times. In the context of the study, this course introduces research on the psychology of money and explores why we are wired to do everything wrong in our financial lives. It challenges some commonly held myths about the wealthy that can keep people poor. Specifically, this course examines the financial psychology, demographics, and financial behaviors of a sample of wealthy individuals and a sample of middle-class individuals, and compared these characteristics to see what, if any, differences exist. Results of the study found that wealthy individuals exhibited significant psychological differences and some surprising financial behaviors. The results also challenged some A deeper understanding of the psychology of wealth can help individuals aspiring to increase their income and net worth by challenging inaccurate beliefs about this population’s psychology and financial behaviors.

NOTE: The study was published in the American Psychological Association’s Consulting Psychology Journal: Practice and Research (2015): The Wealthy: A Financial Psychological Profile by Dr. Brad Klontz, Paul Sullivan, Martin Seay, & Anthony Canale.