American Express conducted a study called “The Life Twist Study,” published in early 2013. It examined what American’s believe are the most important and valuable aspects of their lives. The study, based on a survey of more than 2,000 Americans, shows that only one in four Americans still believe that wealth determines success.

An impressive 73 percent, close to three of four people questioned, did not identify wealth as the most important success criteria. This is a revealing statistic if one considers the May 2013 Economist magazine article citing that “Money can indeed buy happiness.” It appears now that more of us are identifying happiness and success in ways that do not target wealth or income as a focus or goal.

The Importance Behind This Data

The outcomes of the study are a bit of a surprise, given our uniquely American obsession with material wealth and accumulation. The top five items identified as most important for an individual’s success include:

• 85 percent of respondents said health was most essential.
• 83 percent stated that having a good relationship or marriage is critical.
• 81 percent said that having good financial management (which is not wealth per se) is extremely important.
• 81 percent believed in the importance of a good life-work balance.
• 79 percent (more than three of four subjects) specified that having a job or career you love is essential.

Where Americans Agree

The most agreed-upon element for success, in which 94 percent of the participants agreed, was that being open to change (flexibility and adaptability) is a key component for personal success.

Another interesting finding stated by the author of “The Life Twist Study”:

“Dozens of the survey’s findings reflect a new American notion of success, but perhaps none more starkly than the sentiment that Americans ranked ‘having a lot of money’ 20th on a list of 22 possible contributors to having a successful life. This sentiment mirrors the steadily rising trend… that Americans are increasingly placing greater priority on living a fulfilling life —  in which being wealthy is not the most significant factor.”

Shifting Attitudes

The study offers the most likely cause for the significant change from previous studies on this subject: Our downward economy and high levels of unemployment are having more than just financial impacts. They are contributing to changes in attitudes regarding wealth and success.

The study also reports that 43 percent of Americans say they have experienced a financial setback. However, more than 50 percent of the surveyed stated that their experiences have helped them identify what is really important in their life. In addition, 42 percent of the participants say that going through adversity has opened them up to new experiences.