Why Aren’t Rich People Happy With the Money They Have?

Post by 10122018 » Mon, Dec 10, 2018, 10:51 AM UTC

keithwhor wrote: post #134

10122018 wrote: post #124

Earlier quoted context omitted.

I appreciate your comment. I know that having more than $100K in the bank would be a better safety net. Hell, having $5K would feel fantastic right about now. My point is merely that many people feel happy and comfortable with so much less than $10M, and it's absurd to believe otherwise. Most interlocutors here seem to have latched on to my pretty arbitrary figure of $100K and forgotten or ignored that original point…

$10M is a pretty standard “set for life” goal based on a 3% annualized rate of return. It’s obscenely difficult to get there, but an entirely reasonable and well-defined goal for people who are willing to compete (and, with high likelihood, fail) in the market to get there. It’s up to you to decide if you’d like to pursue that path. There are plenty of paths to stability without setting that goal; you’ll just find yo…

Post by purple_ducks » Mon, Dec 10, 2018, 10:54 AM UTC

mcv wrote: post #113

nostrademons wrote: post #47

Earlier quoted context omitted.

It actually used to be one of the top tabs but was removed when PG realized that people trying to score points off each other hurt the quality of discussion. IIRC it was the same time that point totals for each comment were hidden from everyone but the author.

Maybe it would be a good idea to hide your own total karma too. It's always right there on the top right, and I can't help looking at it. And I feel happy and proud when that number has gone up, and upset when it has gone down. Much more useful would be notifications of people responding to my comments, or maybe even people continuing discussions that I'm interested in. It's easy to lose track of those if I haven't p…

    'use strict';  

    if(document.getElementById('me') !== null){   

      //hide karma 

        Array.from(document.getElementById('me').parentElement.childNodes)  

            .filter(x => x.nodeType == Node.TEXT_NODE)  

            .forEach(y => {y.textContent=' '})  


        //remove link to profile page

        let me = document.getElementById('me');  

        let newme = document.createElement('span');  

        newme.textContent = me.textContent;  

        me.parentElement.replaceChild(newme,me)  

        ;  

    }  

Post by [deleted] » Mon, Dec 10, 2018, 10:58 AM UTC

drjesusphd wrote: post #148

10122018 wrote: post #46

Earlier quoted context omitted.

> in the $10-30 million range you can live a comfortable life without having to worry about finances again This statement strikes me as very disconnected from the reality that the vast majority of people on this planet live in, and honestly, a little bit irritating. I'm well aware that many here on HN would be millionaires, but as somebody who grew up in poverty and is now a full-time uni student with no savings in t…

I think yours is the comment disconnected from reality. But I will say that westerners tend to over-estimate what is required to live "comfortably", but $100k in savings won't get you very far, even below the poverty level. $1 million will provide you with enough money to live comfortably. You'd still need to be somewhat frugal and be mindful of the hedonic treadmill. But that's not "never worrying about finances aga…

Post by Ensorceled » Mon, Dec 10, 2018, 11:00 AM UTC

ghufran_syed wrote: post #16

8bitsrule wrote: post #5

I'll buy this picture. Feelings of insecurity created by someone (anyone) who has more than you fits in with 'keeping up with the Joneses'. Further reasoning about irrational behavior is as unconvincing as science trying to explain magic. (Which in many cases might be helpful in explaining the long chains of coincidence that led to wealth, despite the often-fragile egos involved.) Some of the very rich try to invest…

"On the whole, today's ultra-rich seem less-inclined to give a damn" That view seems inconsistent with this: https://www.cnbc.com/2017/05/31/14-billionaires-signed-bill-...

Post by jcelerier » Mon, Dec 10, 2018, 11:03 AM UTC

Fargren wrote: post #155

10122018 wrote: post #46

Earlier quoted context omitted.

> in the $10-30 million range you can live a comfortable life without having to worry about finances again This statement strikes me as very disconnected from the reality that the vast majority of people on this planet live in, and honestly, a little bit irritating. I'm well aware that many here on HN would be millionaires, but as somebody who grew up in poverty and is now a full-time uni student with no savings in t…

I think most of the people replying to you are equating "not worrying about finances" with "not working another day in my life". Which is probably which strikes you as disconnected. I see where you are coming from, and agree with you. I am happy to say I'm at a point in my life where I feel I will never have to worry about finances, and I'm nowhere near $10MM. I'm 30 years old, live alone in an apartment that could b…