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Study 1: "Students participated in exchange for the chance to win one of three prizes valued at $700." Study 2a: "Two hundred and sixty UBC students participated in exchange for entry into a lottery or for course credit (78% female)" Study 2b: "In Study 2b, 518 adults were recruited from a science museum in Vancouver, Canada" Study 3a: "In Study 3a, 242 UBC students participated in exchange for course credit or candy…
Earlier quoted context omitted.
Out of curiosity: do you do contracting / consulting work, or have you found a stable 15-20 hr/wk job? I think the latter sounds excellent, while the former sounds stressful.
1 datapoint: I was doing 15-20hr/wk consulting the past few years and making as much as my FT CTO/COO position now and the stress of constant sourcing definitely was stressful (but the extra hours and lifestyle of commandeering your schedule/location was a third dimension to optimize).
We live an average 70-80 years on a lucky rocky, watery ball among bazillions gaseous, frozen or rocky balls into a dark void somewhat existing since a dozen billion years. Money is nothing vs living our time happily or peacefully at least.
It's easy for us to say money is nothing vs time, but less easy for the single mom working at wal-mart 60hrs a week to feed the kids.
Earlier quoted context omitted.
What about founding a startup to try to make big money and then have the time to explore things?
There's a poor risk/reward ratio there. It takes way too long for the average startup to be successful, and the overwhelming majority of them aren't successful enough to provide the economic freedom you are referring to. If you can love the chase of a startup, and love the thrill and long hours, great! If you are doing it so you can have "more free time later" there are many many better strategies.
Study 1: "Students participated in exchange for the chance to win one of three prizes valued at $700." Study 2a: "Two hundred and sixty UBC students participated in exchange for entry into a lottery or for course credit (78% female)" Study 2b: "In Study 2b, 518 adults were recruited from a science museum in Vancouver, Canada" Study 3a: "In Study 3a, 242 UBC students participated in exchange for course credit or candy…
What do you make of it?
I searched for the phrase "diminishing marginal returns" but could not find it in the article which seems like a bit of an omission. This is a fundamental economic concept - the more of something you have, the less value you derive from each incremental unit. So, based on personal preferences, once you reach a certain level of income you will start to substitute away from labor (income) towards leisure/free time (non…
The corresponding colloquialism is "Variety is the spice of life."
We live an average 70-80 years on a lucky rocky, watery ball among bazillions gaseous, frozen or rocky balls into a dark void somewhat existing since a dozen billion years. Money is nothing vs living our time happily or peacefully at least.
True, but I think a major point is that it can be much more difficult for people to live happily and peacefully when they have less money. It's easy for us to say money is nothing vs time, but less easy for the single mom working at wal-mart 60hrs a week to feed the kids.
So higher interest rates mean greater happiness? The interest rate is essentially what you will exchange your time for.