Life Is Not About Money

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BOSTON (MarketWatch) -- When it comes to feeling as though you're enjoying the good life, money matters. Make no mistake about it. But it's just one critical ingredient, according to a new study.

Being healthy, creating deep relationships with family and friends, having a sense of purpose, and feeling like you belong are major components of a happy life. What's more, those ingredients are just as true for those in their 20s as those in their 70s -- and in the midst of a recession, too, according to MetLife's Mature Market Institute 2010 Meaning Really Matters study, which is based on the work of Richard J. Leider, author of "The Power of Purpose."

Being healthy and wealthy have always been two well-known ingredients of happiness, but the study also shed light on what it takes to live the good life and what type of people are living one.

If you're happy, age might have something to do with it. In 2010, almost half of those aged 45 to 74 said they were living the good life compared to just 29% of 25- to 44-year-olds.

But how do you know whether you're living the good life? In the study, MetLife said those living the good life uttered such comments as "Being spiritually, emotionally, mentally, and physically healthy," "Having enough money not to worry about whether or not I can pay the bills; good friends to share life with" and "Having a safe, healthy, and happy life with family and friends."

MetLife said 74% of those living the good life were completely content, as opposed to only 24% who weren't living the good life. What's more, those living the good life generally look forward to each day, consider themselves very happy, are in control of their lives, and are highly optimistic about their future. Read the MetLife study here (PDF).

The chief component is having a sense of purpose, according to the study. That sense of purpose is "interrelated with
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