America’s Professional Elite: Wealthy, Successful and Miserable • Hacker News Board

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#121

Post by kurthr » Thu, Feb 21, 2019, 5:46 PM UTC

maps wrote: post #84

naravara wrote: post #22

Earlier quoted context omitted.

>what world are these people living in that you can't give up a job that you hate because you can't afford to live on 500-600k. The one where you lock into a mortgage and a car that assumes a $1.2M salary to keep ahead of. It's really easy to let your lifestyle expenses balloon, especially in a high-COL city where minor increases in living space/amenities can end up costing large amounts of money.

To consume $100k a month we need a $10-20 million dollar mortgage (50-100k/mo depending on years and rate). I have to assume a few cars, dining, etc would probably end up being $10-20k/mo so the mortgage is probably around $15 mil. So in NY or SF you are looking at something like a 1-2k sq/ft 2 bed 1 bathroom shithole apartment. Not so luxurious after all really.

I assume you're being sarcastic... a $15M shithole apartment! X^D

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#122

Post by ttoinou » Thu, Feb 21, 2019, 5:46 PM UTC

aglavine wrote: post #20

At least in my country (Argentina) I think that at a personal level (indoor) we are all OK, the problem is at a social level (outdoor). I can think of several projects that would make me happy and 100% sure that they would improve my community as well. But I don't have time or wealth or mechanisms to deal with it. We are lacking community level organization, because it is really hard to do it well, without messing wi…

Interesting, what projects for example and how can you be so sure people would be interested ?

I tend to think that one kinda needs to exchange (i.e. not just give everything away) with others in order for the "improvements" one is looking for gets validated / get real time feedback.

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#123

Post by mancerayder » Thu, Feb 21, 2019, 5:46 PM UTC

QualityReboot wrote: post #64

I just don't understand this at all. If you can earn a million a year, do it for 3-5 years, never have to work again, and pursue your passions in life. I think the problem for most workers is the lifetime of toil, not the meaninglessness of the work. I'd happily dig ditches for 8-12 hours a day for 3 years if I knew I was completely financially independent with millions in the bank that. Actually, I'd rather do that…

I'm 100% in agreement, and am trying to pursue that on a payscale that's fractions of what's described. I think the problem is the balancing act between "live now" and "save for living later." I think I have a healthy balance, particularly in not denying myself decent food and lifestyle despite the costs. That said, I'm moderate in almost every other way (and I don't have a car, or buy expensive clothing, etc.)

At one extreme I know people who save every penny, even though they make a fortune. One person I know spends maybe 10-20 dollars a week on food by never drinking, receiving farm deliveries of vegetables, etc. and etc. At the other extreme, as per this article, you have Real Housewives-types scoffing at making less than a million, perhaps living extravagant lifestyles.

Maybe this should be called "lifestyle inflation." Through social pressure, greed, trendiness, or perhaps stupidity, people piss all their money away and need more.

There's a balance there, but yes, at the end of the day the goal is to have free time, right?

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#124

Post by HashHishBang » Thu, Feb 21, 2019, 5:46 PM UTC

Murdoch wrote: post #17

The rich are depressed, the middle-class is shrinking and fearful, the poor are hopeless. I'm gonna take a leap here and say maybe people need some religion in their lives to give direction and meaning. I found it interesting that a person in the article who made $1.2M a year was still depressed in thinking they were wasting their lives and it was all meaningless. I ask myself, does this person have children? a famil…

Because a 10% tithe is definitely something the shrinking middle class and the hopeless lower class can afford.

But putting that aside this sentiment of "look how bad things seem for people, religion can help" reeks of predatory behavior. If none turn towards whatever god you preach in times of plenty then what is left? To strike in a moment of weakness? To shift blame from whatever problems could be solved to instead attribute success and failure to the nebulous concept of faith? It's disgusting.

>That person's duty is to his family, and children (if he has any). His duty to society is to raise children with values that are compatible with the society

A society that is growing increasingly secular.

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#125

Post by meowface » Thu, Feb 21, 2019, 5:47 PM UTC

11thEarlOfMar wrote: post #56

"...an underlying sense that their work isn’t worth the grueling effort they’re putting into it." Just because you've become wealthy doesn't mean that you find meaning in your work. Or, conversely, non-wealthy people can also fall into this syndrome. There is certainly another population of people who started out and continued doing what they love and in the process became wealthy. It'd be interesting to identify and…

I think this is probably the biggest reason why people found startups: not money, but to actually work a fulfilling job they find real meaning in. Even if it fails, it's a lot more fun and interesting than being a cog in a machine trying to react to the fickle whims of 3-12 layers of managers.

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#126

Post by canada_dry » Thu, Feb 21, 2019, 5:47 PM UTC

Murdoch wrote: post #17

The rich are depressed, the middle-class is shrinking and fearful, the poor are hopeless. I'm gonna take a leap here and say maybe people need some religion in their lives to give direction and meaning. I found it interesting that a person in the article who made $1.2M a year was still depressed in thinking they were wasting their lives and it was all meaningless. I ask myself, does this person have children? a famil…

> maybe people need some religion in their lives

I'm going take 'religion' to simply mean 'something that gives them purpose and fulfillment' and agree.

Now that I'm reasonably comfortable (semi-retired, no debts) I've been focusing on "mindfulness" i.e. being fully present in the moment and enjoying the moment. Not looking at the past or longing for some particular future. I think this helps.

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#127

Post by jtdev » Thu, Feb 21, 2019, 5:47 PM UTC

I often encounter this “wealth doesn’t make you happy” sentiment... and I find it to be ridiculous. Of course wealth doesn’t make you happy. Poverty however has a tendancy to wreak havoc on the mental health and well being of those who live under its oppression.

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#128

Post by JohnFen » Thu, Feb 21, 2019, 5:48 PM UTC

flippyhead wrote: post #12

randomacct3847 wrote: post #2

I think there was a Blind post a few weeks ago where 40% said they were depressed despite most making $300k-$600k/year

I've always felt the key is to focus on how much you spend not on how much you make. I want to make a lot of money, but I'm always careful to never spend too much. It's consumption that ruins things.

In terms of accumulating wealth, this is spot on. A very wealthy man once told me his secret to getting wealthy. He said the key isn't how much money you're taking in, it's how much money you're keeping.

He also gave me a pain-free method of accumulating money that I've followed my whole life. His point was that no matter how much or how little you are earning, you can do with 10% less without it dramatically affecting your lifestyle. So every time any money comes into your hands, immediately take 10% of it and stash it somewhere where you'll keep your grubby paws off of it.

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#129

Post by motohagiography » Thu, Feb 21, 2019, 5:49 PM UTC

Someone I know makes money at this level and the thing he worries about is that he doesn't have much control over it and if his marriage ends while he's still working, he's going to be on the hook for maintaining that lifestyle whether he wants to or not.

It's not what you make, it's how you make it, and whether it's ever really yours.

Re: America’s Professional Elite: Wealthy, Successful and Miserable

#130

Post by organsnyder » Thu, Feb 21, 2019, 5:49 PM UTC

minikites wrote: post #3

>“I feel like I’m wasting my life,” he told me. “When I die, is anyone going to care that I earned an extra percentage point of return? My work feels totally meaningless.” Capitalists are realizing the fundamental emptiness of capitalism. It's hard to have a sense of purpose when your entire life is spent making a number on a spreadsheet into a slightly larger number for the benefit of someone even more elite than yo…

There's nothing inherent to capitalism that requires individuals to constantly be attempting to maximize wealth. And there are ways for a society to discourage such behavior, such as a very high tax rate on income over a certain amount (perhaps 90% on income over $1 million). That would change behavior after a certain point, without throwing out all of the optimizing benefits of capitalism in general.

Yes, the right wing will cry "socialism!", but that's simply not true. Capitalism is still the mechanism that decides winners and losers—there's just less incentive to "win" above a certain amount. At worst (if one considers capitalism as the end goal rather than the means to drive production), it's a hybrid of some sort.