Why are high-income earners stressed out? They don't have enough time to pursue expensive leisure activities, economist says

One might assume that having a great job and earning a ton of money because of it would equal less stress. But according to one expert, that's most definitely not always the case — and the reason has everything to do with what high-income earners can't buy.

Time.

Economist Daniel Hamermesh told Business Insider that high-income earners — who often work long hours to begin with — get stressed because they don't feel as though they have enough free time to take part in expensive leisure activities they believe they need to pursue.

"While our incomes [keep] on going up, we feel more and more rushed," he told the outlet

Hamermesh — who recently penned "Spending Time: The Most Valuable Resource" — added to Business Insider that even when high-income earners do take time off, they want to spend their piles of saved-up cash on activities that cost a lot per hour.

To wit: the rich are investing their money less in designer goods and more in things that enhance luxury lifestyles, such as high-end gym memberships, multimillion-dollar vacations, and exclusive hotels, the outlet said.

On the other hand

But Hamermesh told Business Insider that low-income earners feel less rushed, since they don't have money to spend on luxury lifestyles. Rather they tend to spend more time watching TV and sleeping than higher earners, he added to the outlet.

So, what does stress out low-income earners? Earning enough money, period, Business Insider said.

"I'm not sympathetic with the rich guy who says how stressed he is," Hamermesh told the outlet. "He could choose to work less, give away his income, and he wouldn't be as rushed for time. On the other hand, the low-income individual just isn't living very well. To me, that's much more important."