81–90 of 216 posts
People might work really hard while they're young so that they can retire early and be happy and secure later. Those people would look like they value money more than their time, and probably aren't going to be very happy right now, but in 30 years they're going to be much happier than people still working full-time.
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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.
If the mom loves her kids, she will be happy as well.
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What do you make of it?
small unrepresentative sample size. a problem many studies have issues with.
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Good point. Can you share some?
Here's one: Get a high-paying software job in a high COL area, work for a decade or so while minimizing your expenses (live cheaply/with friends) and investing as much as possible in a diversified stock market portfolio. Then when you're sick of it, move to a cheaper area, get a part-time job and sell 3-4% of your assets every year to make up for the deficit. If you're lucky, the safe withdrawal rate of 3-4% will eve…
Earlier quoted context omitted.
Good point. Can you share some?
Here's one: Get a high-paying software job in a high COL area, work for a decade or so while minimizing your expenses (live cheaply/with friends) and investing as much as possible in a diversified stock market portfolio. Then when you're sick of it, move to a cheaper area, get a part-time job and sell 3-4% of your assets every year to make up for the deficit. If you're lucky, the safe withdrawal rate of 3-4% will eve…
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…
I think you meant "diminishing marginal utility". The law of diminishing marginal returns concerns employees not goods consumed. Though not specifically relevant to your post, this "law" doesn't always hold. Some goods have a utility threshold that must be crossed before they become valuable or increase in utility (e.g., various medicines and antibiotics). Money operates similarly, i.e., its utility does not necessar…
Earlier quoted context omitted.
I am someone who really doesn’t like vacations. I don’t like travel, I don’t like hotels, and I don’t like eating in restaurants all the time. What I do like is living for an extended period of time in a new location where I can really get a feel for the place (months not days). I go years without a vacation then move somewhere for 6 months or longer.
How do you decide where to move next? Do you follow work? Or do you work remotely? I would love to do this but find moving to be incredibly stressful, and moving every six months I would feel like I don't have a real "home".
In the last 10 years, I've lived and worked Switzerland for 6 months, in the south of France for 9 months (contracting), in Scotland for a year, Canada for 10 months, New Zealand for 2 years, Australia on several occasions for a year or so at a time. I'm currently back in Australia now.
In between those, I've lived back in the England, my home country.
I've both been following work and picking places to live. I've done a little bit of remote work while I've been overseas but mainly working for various companies who have sponsored me for a visa to work.
You're right in that moving is stressful but more than stressful, it's a real pain. As I've tended to live somewhere for longer than 6 months, I've lived in a place long enough to get settled to some degree and as a result, acquired "stuff" - living stuff such as small items of furniture, quilts, pillows, kitchen utensils, some consumer electronics (I've got an iMac and a laptop now) and so on. Stuff you need if you're not living out of a hotel for 6 months. That has been the biggest cause of stress and pain. If you can do without stuff, and I'd suggest if you live somewhere longer than 6 months you probably can't and unintentionally you'll start acquiring it anyway, then it would be far easier. If you can live out of a suitcase and laptop bag for 6 - 12 months, then seeing the world is a much easier prospect.
I've never intentionally moved to new places, it's just how things have worked out but this time is the last time! And I've said that before but this time I mean it! (And I've said that before too).
I would certainly recommend travel and working overseas - the experiences you get on both a personal and work level are invaluable. Do I feel like I have a home when I've moved to a new place? I would say I do but an outsider might suggest otherwise when they look at my living spaces that have a tendency to look unpacked! But this time.. this time, I'm staying.
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…
I think you meant "diminishing marginal utility". The law of diminishing marginal returns concerns employees not goods consumed. Though not specifically relevant to your post, this "law" doesn't always hold. Some goods have a utility threshold that must be crossed before they become valuable or increase in utility (e.g., various medicines and antibiotics). Money operates similarly, i.e., its utility does not necessar…
"Oh, with 15k I could buy a compact car that I wouldn't like much, but with 30k I could buy an entry level sports car that I would enjoy a lot. So the second 15k has greater utility than the first 15k."
Does this make sense? Of course not. The first 15k can buy you reliable transportation which is more valuable than the fun from a sports car. 15k can also pay for a year of housing and food in many places, which has way greater utility than the ability to drive like a jackass on the highway.
With your N dollars, you might not enjoy the popcorn without butter, but you could also buy something else to eat, or some fuel, or any number of other things that have more utility than butter on your popcorn.
Every dollar adds additional things that you could purchase. But each dollar comes with declining utility. First you get necessities, then wants, then luxuries. If you have insufficient dollars to buy popcorn with butter, you probably need to spend your money on something now useful than popcorn anyway. Popcorn is a want and you probably haven't met your necessities.