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

theatlantic.com

271–280 of 358 posts

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

#271
post #17

A while back I noticed that my HN karma was rising at a rate that would put me on the leaderboard, so I decided to make an effort to submit content and post quality comments just to see if I could crack the top 100. After a few months I did it, and kept rising up to a high of 85 (today I'm #88). Then I realized I was spending way too much time on HN, and how easy it was to fall into this trap of thinking I was doing…

I'm not trying to be #1 but I do feel iike scores on various sites have a negative influence on me.

Added this to my `userContent.css` in firefox to hide my scores and votes

    @-moz-document domain(news.ycombinator.com) {
        .score { display: none; }
        body>center>table>tbody>tr:first-child>td>table>tbody>tr:first-child>td:nth-child(3) {
            visibility: hidden;
        }
        body>center>table>tbody>tr:first-child>td>table>tbody>tr:first-child>td:nth-child(3) a {
            visibility: visible;
        }
        html[op=user]>body>center>table>tbody>tr:nth-child(0n+3)>td:first-child form>table>tbody>tr:nth-child(3) {
            display: none;
        }
    }
which HN would just let me check a box "no score"

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

#272

Earlier quoted context omitted.

You're presuming you can continue to work. $10M means you don't have to work, even when you can't.

I agree, that is an assumption built into my belief, and possibly a foolish one. I would still maintain that it is possible to live on much less than $10M, although some may not enjoy the change in lifestyle.

It is possible to live on $0 income/saving indefinitely, assuming you live in a developed country with a welfare system (I wouldn't personally want to).

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

#273

The article said they interviewed people with at least $1 million net worth but $1 million net worth isn't really rich is it? In SF you might be able to afford a 1 bedroom studio apartment. I'm guessing the same is true in NYC, London, much of Los Angeles, Tokyo. Sure, with $1 million maybe you could retire in Cambodia but for most 1st world people $1 million is not enough be able to stop working for someone else and…

$1 million isn't enough to stop working for someone else if you're in a first tier city like NYC or London, but if you move out to a cheaper part of the country then you can.

You might not have an extravagant lifestyle, but you can certainly live on the interest and returns on investment.

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

#274
post #174
post #22

TLDR; Michael Norton did the survey of people with networth > $1M and most said they need 2 or 3 times more. People with networth > $100M also don't feel satisfied because they tend to answer the question "Am I better off than last year?" by comparing to other folks who did even better than them. It looks to me that if you are in $3M to $10M bucket, you have financial freedom to live low key upper-middle class life.…

This read a lot like an Onion satire, I sincerely hope that only a handful minority of people would be susceptible to such wants inflation. These wants honestly sound like desperate ways to distract yourself with toys and experiences until you die. Also, your analysis on having maximum freedom of will at $3B is flawed in that money can only buy so much. For example, you can be the world's wealthiest man but that won'…

> These wants honestly sound like desperate ways to distract yourself with toys and experiences until you die.

If you aren't working for your subsistence, what else are you doing with your life but finding distractions until your time is up?

> [money] won't buy you healthy body, good looks or a charitable personality.

Money can directly buy you good looks and a healthy body through plastic surgery, more fashionable clothes/accessories, as well as the free time and ability to hire a personal trainer and equipment necessary to get fit. World class doctors are now available as well to help extend your healthy life as long as possible.

I do agree with you about the personality.

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

#275

Earlier quoted context omitted.

HN will shadowban your account if you dont conform to popular opinion enough Aside from saying unpopular things, a net negative karma will also do it, which is a reflection of the same outcome Always check your post history from an incognito browser to see if others can see it

> HN will shadowban your account if you dont conform to popular opinion enough Bollocks.

I don't know if this quite counts as shadowbanning, but none of my HN comments can't be seen from a private browser window

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

#276
post #89

Earlier quoted context omitted.

I think it's generally assumed that more money equals better physical health, but the psychological aspects are very underrated. Money equals certainty for a lot of people. It lets them count on certain things always being there. Having your own home, respect, clout totally builds your confidence and lets you face life with positivity. You can afford to be wrong more often, so you don't mind sticking your neck out -…

I wouldn't be surprised if the levels of inequality are negatively impacting innovation. There has to be an optimum level but I don't think we are anywhere near it in the Anglo-sphere.

> There has to be an optimum level

I don't think there is any level where more equality does not lead to more innovation (any evidence to the contrary is welcome).

The thing with innovation and inequality is that some government programs that help (or claim to) the first can harm the second at the same time. But AFAIK, there is no absolute antagonism between them.

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

#277
post #82

Earlier quoted context omitted.

Not that this makes their messaging strategy any more coherent, but 200k is on the very low end of Google compensation; new grads have offers with total compensation north of that. But they're just new grads, so obviously they can't know much, right?

I've noticed this on multiple occasions but why do people often create new accounts just to spread propaganda regarding compensation at Google? Is this a recruiting strategy executed by paid schills?

Lots of people post exaggerations here about tech salaries that “other people they know” get. Last time I pointed this out (and shared links to salary.com and Glassdoor) I was personally attacked for it. There seems to be some strong undercurrent of motivation somewhere for maintaining this meme that entry-level engineers are making $400k and all have second homes in Monaco.

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

#278

There was a well written comment on Reddit a few years back about how your life changes at different levels of wealth: https://www.reddit.com/r/AskReddit/comments/2s9u0s/what_do_i... The main gist was that in the $10-30 million range you can live a comfortable life without having to worry about finances again. In the $30-100 million range you can start doing "rich people" things like have a private jet (though this m…

> 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…

My comment sort of blew up and I didn't word it as carefully as I should have. I want to be clear that I was just summarizing the Redditor's comment, not presenting my own opinions (since I haven't really had any interactions with anyone who's all that wealthy).

The point I was trying to get across was not that you need $10 million in order to live comfortably. I was just saying that having that level of wealth won't really provide you with any additional material goods. The only thing you gain at that level is more financial security. At that level of wealth you could go through a divorce and have a major medical emergency all at the same time, and still come out of it with enough to be able to live in a nice home, have a vacation home, travel in first class, etc.

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

#279
The process of evolution doesn't reward long-term "satisfaction" and essentially makes animals "greedy". Sure, after a good meal or romance one may feel temporarily satisfied, but in a day or two you are back for more. Generally digestion is more efficient if the body is not moving fast or bumpy, so a feeling of satisfaction will tend to make animals rest after a big meal.

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

#280
post #204

Earlier quoted context omitted.

[flagged]

[flagged]

> Slavery, violence, and murder are not features of free markets

I beg to differ. Slavery, violence and murder are inherent properties of an unjust relationships which follow from unequal distribution of wealth.

If you can show me a society which used property but did not have those effects, feel free to correct this point.

But on other hand, I can show you societies which did not have concepts of property, of trade, and did not have slavery and other forms of oppression.

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