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How much money do people need to be happy?

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Re: How much money do people need to be happy?

#81
There are a lot of posts, articles, and general interest over the last 15 years (compared to before) on “being and maximizing happiness”.

At face value, this seems very natural. However I think a lot could be gained by tackling the necessity of even asking that question.

Nietzsche has this really interesting point that every philosopher since Plato was most interested in “the truth” without seriously considering if “the truth” was a bad thing, worth all the effort, or perhaps not as valuable as other concepts.

In the same way, a lot of religions invert the happiness question, to great effect. In Christianity, suffering is turned into a much more worthwhile and meaningful pursuit; other religions distance themselves from happiness and instead take more stoic and detachment-based paths. All of them don’t tend to address “maximizing happiness” though because I think, being the product of thousands of years of experience, any religion that tried to do that failed in the face of life and history and would not succeed in gathering adherents.

Re: How much money do people need to be happy?

#82
post #75

Earlier quoted context omitted.

Folding laundry. Robots are miserably bad at this, so far.

Robots? Assuming you already have 7+ days worth of clothes simply hire a maid to come by once a week. With a human you never have to worry about software upgrades, charging batteries, or wake up in a cold sweat in fear of your hired help violating Isaac Asimov's laws of robotics.

Humans are quite capable of violating the laws of robotics too!

Re: How much money do people need to be happy?

#83

Years ago a real estate agent driving me around to look at property relayed a somewhat pessimistic aphorism he'd picked up from his father: Life's a shit sandwich, the more bread you have the less it tastes like shit.

I feel like that would be better paired with the "dough" double meaning instead of bread. "Life's a shit pizza, the more dough you have the less it tastes like shit."

Bread is a synonym for dough in that meaning

Re: How much money do people need to be happy?

#84

If I were single, it'd be no more than whatever lump sum would semi-guarantee I could have $5000 turning up every month for the rest of my life (so about $1.5m, I'd say). Since I'm married with kids, however, it might as well be an infinite amount :-D

Why isn't it $4m for the family? Why do your family spending so much?

Re: How much money do people need to be happy?

#85
post #42

> the psychologists who conducted the study find that the one making $200,000 is probably no happier than the one making $120,000. This is because both the $120,000 and $200,000 women have incomes above $105,000, which according to their research is the point at which greater household income in the US is not associated with greater happiness. The technical term for this cutoff is the income “satiation point.” Sounds…

This research, like so many others,ignored the possibly that people want to retire before they die, so need to amass savings.

Re: How much money do people need to be happy?

#86
People need enough to not feel, or be, materially insecure. It's somewhat subjective (I might have high demands with regards to caviar and champagne) but usually not (groceries, roof, education, doctor).

What's interesting is that there's no mainstream concept for not-materially-insecure. Perhaps, if there were, it would turn into a demand by the population. And we can't have that.

Re: How much money do people need to be happy?

#87
post #55
post #9

Earlier quoted context omitted.

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.

The trades are undervalued I think as a career choice these days.

A friend operates a boat cleaning business. One harbor and all sizes. Last year he grossed $800k while netting $500k after paying out a floating crew of 5-10 guys, supplies etc.

Vastly under the radar yet a perfect fit for his boating interests.

Re: How much money do people need to be happy?

#88

I've never understood the absolute premise of: money can't buy happiness. It very obviously can. I'm happy when I'm not living in a ditch. When I'm warm in Winter. When I have food and I'm not afraid of starving to death. When I can afford to pay my rent or mortgage. And those are the primitives. I'm extremely happy when I can spend a month at the beach (say I live in the mountains or midwest), or hop on a plane and…

Money can't buy happiness, but it can pay off unhappiness to leave you alone

Re: How much money do people need to be happy?

#89

If I were single, it'd be no more than whatever lump sum would semi-guarantee I could have $5000 turning up every month for the rest of my life (so about $1.5m, I'd say). Since I'm married with kids, however, it might as well be an infinite amount :-D

Joking aside, I guess as a person with such amazing credentials, making $20k+ per month for you should be a cakewalk. By American standard it should be a decent mount of money to raise family with kids. But if you want to travel the world, eradicate poverty, leaving trust fund for kids then yes the number can be stretched infinitely. As a married person with kids I would be very happy making the amount of money you have mentioned passively.

Re: How much money do people need to be happy?

#90
post #17

Kind of makes sense to me, once you get to a point where you're set. That is you can easily afford the main things (housing, food), plus the extras (electronics, vacations, hobbies) you need a much larger income to "move the needle" so to speak. You still need to work 40 hours a week or whatever, and only get X weeks of vacation. Having a 180K salary instead of 150K doesn't change any of these obligations, or change…

There are still lots of QOL improvements to be made above, say, $150k. It may depend a lot on if you have kids and where you live. This is especially true when compounded with typical retirement savings and kid expenses. For example: - Housekeepers who come often - Paying someone to manage the yard - Private school and college funds for kids - International vacations for the whole family - Paying for family to visit…

Or just don't spend it. You don't have to spend more just because you make more. If you save (invest) the money, you can retire earlier.
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