How much money do people need to be happy?
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Re: How much money do people need to be happy?
#2 - geography probably plays into that.
- family size.
- at around $2-5 Million in assets you could live off the interest and do what you want for work or not.
Re: How much money do people need to be happy?
#3To quote my grandpa (who started off with nothing and retired as a millionaire): money doesn't buy happiness, but it sure makes it easier.
Re: How much money do people need to be happy?
#4Is this net income (after taxes, and possibly after 401k [or equivalent] savings)?
I would say that having no debt, or at least having manageable debt, along with knowing you are saving enough for retirement, and making enough that you don't have to second-guess if you can afford every purchase you make, is the real cutoff.
For example, if you don't have mortgage debt then you are probably renting. So I consider mortgage "manageable" debt, along with any short-term debt that you can pay off within a year.
The other thing to consider, is life is full of stress-inducing "things" (situations, people, material objects, etc). Often times throwing money at the stress makes the stress lower or go away. So if you make enough where you can throw money at most of your stress and not break the bank, then that would greatly impact your happiness.
Re: How much money do people need to be happy?
#5Let's ask all the employment wage slaves how happy they are and then conclude that they do not become happier above 105k based on self report.
What a joke.
A person making 500k or more or someone with high net worth is going to have a more full life (not needing to work, help community, help family)
Re: How much money do people need to be happy?
#6To quote my grandpa (who started off with nothing and retired as a millionaire): money doesn't buy happiness, but it sure makes it easier.
If you don't mind me/us asking ... what did your grandpa do to acquire his wealth? Was he an entrepreneur?
Re: How much money do people need to be happy?
#7This cutoff where more money doesn't bring any more happiness ... maybe it's true, maybe it's not. Personally, I would like to do the experiment and then find out.
Re: How much money do people need to be happy?
#8Let's ask all the employment wage slaves how happy they are and then conclude that they do not become happier above 105k based on self report. What a joke. A person making 500k or more or someone with high net worth is going to have a more full life (not needing to work, help community, help family)
depends on how that person got to making 500k or more ... they could be working like crazy, and taken out tons of loans to give their family a fancy life, thus being miserable and stressed out (golden handcuffs) ;)
Re: How much money do people need to be happy?
#9To quote my grandpa (who started off with nothing and retired as a millionaire): money doesn't buy happiness, but it sure makes it easier.
If you don't mind me/us asking ... what did your grandpa do to acquire his wealth? Was he an entrepreneur?
Owned his own small plumbing business. Built a reputation of doing excellent, reliable, honest work and was certified to do unusual things, like medical gas in hospitals.
Re: How much money do people need to be happy?
#10To quote my grandpa (who started off with nothing and retired as a millionaire): money doesn't buy happiness, but it sure makes it easier.
I like Weird Al Yankovic's version: Money can't buy happiness, so I guess I'll have to rent it.