Coming from the hood, I wanted to say that I could not disagree with this article more.
Life is fair. Just like the late poet said, "More money, more problems." Life always finds a way of balancing itself out.
If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
71–80 of 152 posts
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#72Earlier quoted context omitted.
True :) that probably deserves clarification: I made a clear separation between "spending money" (rent, travels, food, leisure) and "investment money". Anything spent is either an investment, where I try to keep returns over 5% yearly, or just everyday stuff. I've found that everyday stuff ends up not being very different than my previous spending levels. EDIT: I also live outside the Bay Area, which definitely helps…
Explains how you can buy so much property with just $1m.
He lives outside the bay area! ;)
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#73Somerset Maugham has a nice quote in Of Human Bondage: "Money is like a sixth sense without which you cannot make a complete use of the other five." Although he does have a point I don't quite agree with that POV.
What I think money should be viewed as (we're talking about a good amount of money here, let's say 2-3x your living expenses) a super power. Like all super powers it can be used for good or evil (or, more probably, wasted). You can do a lot of good with a relatively small amount of money. You really cannot do this or think about such things if you don't know where your next lunch is coming from or if you will be able to afford to send your kids to college.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#74One of the greatest books IMHO which gives very practical advice how to achieve and maintain happiness in life is Raymond Hull's old classic (1969) "How to get what you want". Interestingly enough (and although written by a Canadian) it is quite well known in Europe, not so much in the US: http://www.barnesandnoble.com/w/how-to-get-what-you-want-ray... the comment section on amazon is interesting to read as well: http://www.amazon.com/dp/0671783270/
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#75There are all sorts of complexities here that's difficult to capture in sweeping statements, statistics, principles or studies. Money (problems) are the source of lots of unhappiness. Stress and its consequences. Failing to make ends meet is stressful and unhappy. While being a broke and careless 26 year old in love might be fun, in most circumstances being broke sucks. Choosing between a dentist or ballet class for…
> Choosing between a dentist or ballet class for your 5 year old is not pleasant. That's simple: dentist. Of course the 5 year old will definitely not agree with that choice but health comes first no matter what.
You can probably skip one of a five year old's twice-annual dental checkups, given that they've still got baby teeth and likely to just get a clean. More of a choice than one might think, especially if you've got a kid who truly loves ballet.
Whatever the choice made, it sucks to have to make it.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#76Money is the most tricky thing men will ever face. Not talking about extreme poverty here, the following is what I've learned: More money leads in almost all people to artificial value, short term superficial happiness, degradation of the soul. On the outside it looks great and shiny, but on the inside the soul starves and craves true happiness. Unfortunately, most rich people react unconsciously by spending more and…
>More money leads in almost all people to artificial value, short term superficial happiness, degradation of the soul. I could not disagree more. In the vast majority of cases, money leads to less misery. Then you just lead your life without the obsessive material thoughts so many struggle with. I do agree with your last point, though, that once you reach a certain level of stability, you should focus on either reduc…
It seems like more common is to start obsessing about how to retain your wealth, pass it on, grow a fortune, leave a legacy, etc. You replace one obsession with another, and that's really not surprising. An obsessive person will always find something to obsess about. Money isn't going to fix a poor perspective on life.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#77Earlier quoted context omitted.
We were all happier in our youth. Not a lot to do with money or position; had to do with being in your 20's?
My parents tell me they're way happier now, in their 50s, than they were in their 20s. I'm in 25 now and I'm not feeling that good. It's become all right, but I wouldn't want it to get worse, that's for sure.
My experience has been the same, I'm much happier in middle age than I was earlier in life.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#78Earlier quoted context omitted.
"Money doesn't buy happiness" is largely demonstrably true for most people in their current situations. The available research does not back up any large correlation - causative or not - between happiness and wealth outside of very extreme situations: If you starve, or lack shelter, money unambiguously increases average happiness substantially. Once you are fed and have somewhere to live - even if crappy - peoples ha…
Actually not. Money increases happiness logarithmically. Of course, work may decrease happiness and there's an optimal work/money tradeoff involved, but the happiness payoff from money, per se, never stop.
Are you talking about reality here? Do you even have a meaningful way to quantify happiness (the one that you claim maps to a logarithmic relationship)?
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#79Money is the most tricky thing men will ever face. Not talking about extreme poverty here, the following is what I've learned: More money leads in almost all people to artificial value, short term superficial happiness, degradation of the soul. On the outside it looks great and shiny, but on the inside the soul starves and craves true happiness. Unfortunately, most rich people react unconsciously by spending more and…
>More money leads in almost all people to artificial value, short term superficial happiness, degradation of the soul. I could not disagree more. In the vast majority of cases, money leads to less misery. Then you just lead your life without the obsessive material thoughts so many struggle with. I do agree with your last point, though, that once you reach a certain level of stability, you should focus on either reduc…
It's strange to me that people think having or not having money is directly tied to obsessing over money. These are two separate things that aren't actually connected--the number in your bank account and the state of your mind.
You can have $1bn and be totally miserable and miserly, you can have .15 and be generous and happy, and vice versa.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#80Earlier quoted context omitted.
they may prefer 15 years of quality time with dad to a load of cash PS: I'd love to hear some arguments on this, not just simple downvotes. Is HN turning into a place like: "you don't think like me, so I'm downvoting you and moving along"?
If you've ever fished for a living, the argument seems ludicrous. Fishing can be treacherous work. You might get rich with a big haul or die when the whether turns bad. There are many factors, enviromental pollution, ecosystem changing, etc. It's not unusual for these small local fishermen to have very very bad years. And it's not just small outfits that hit tough times, do some research on the tuna industry and decl…
In the case of the story of the fisherman in Mexico, he is not going on big hauls that pay big bucks. He is in a small one man boat in a bay. He is not catching thousands of pounds of fish, he is catching 2-5 fish a day.