A new groundbreaking study might have finally answered the question of whether money can buy happiness or not.

A team of researchers from the National Centre of Epidemiology of the ISCIII, the Biosanitary Research Institute of Granada, the University of Granada, and the Andalusian School of Public Health conducted an extensive study and found that richer people lived longer than poorer ones.

Scientists from several groups within the Epidemiology and Public Health Area (CIBERESP) of the Networking Biomedical Research Centre (CIBER-ISCIII) reported that results showed people from lower socioeconomic backgrounds lived three to four years less than wealthier people.

The authors studied “life tables” and believe the findings can guide many other research studies. For example, people studying terminal illnesses like cancer can benefit from this data.

The team who published their work in Scientific Reports found a significant relationship between financial levels and the life expectancy of people living in Spain.

Individuals who lived in the poorest areas lived less than individuals who lived in well-off and rich areas of the country.

Researchers also found that women live longer than men in Spain.

“Understanding the association between life expectancy and socioeconomic status could help in developing appropriate public health programs,” said researcher Daniel Redondo.

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