Midas might have been an unhappy guy,
but that’s probably because he didn’t know
any other kings who could also turn things
into gold. Money as an absolute may not
make you a happier person but making more
money than others in your age group does,
according to a sociological study done in
2005 by researchers at Pennsylvania State
University. But keeping up with the Joneses
isn’t the only way that money brings happiness.
Saving it for retirement or a rainy day brings
together a variety of positive emotions that
can lead to happiness, such as anticipation and
expectation, a sense of delayed gratification
and reward.

Source www.time.com