If you're so rich, why aren't you happier?

Didn't really read the article. Because having more money to spend has made me happier. I'd be lying to say it doesn't, no?

Not too sure about the point of having to do 100% work no life to get on BRW. You may be surprised. On the flipside many people also lead a life of 100% work and are not very rich.
 
I read that a study found above $40000 (in the US anyway), extra money didn't equate to additional happiness overall. I note Deltaberry's comment, but for every person who the has $1mil and is happy, there's another who is miserable. I can't cite the study, but it's in John Medina's Brain Rules, and he's very diligent in his research.
 
This is sort of on the same subject I think...... even if you have enough money today, its not enough because you need to do the same/help your children, set them up? This can create pressure but also stress, its a dual edged sword. Does anyone think the same way, or is it just me???[/QUOTE]

I do. I actually lose sleep on this :) the more we get, the more we need, not because we ourselves need more but more family members come to rely on us because we are doing better.
We are the sandwich generation, not only are we feeling responsible for ensuring our children have a foot in the door of their future, we also have the added pressure of making sure our parents are well cared for and end up paying for nursing homes too! It never ends, we do not have to do it but we are certainly feeling obligated.
 
But simple things like choosing not to receive junk mail, not watching broadcast TV (only watch recordings with no ads), and using ad blockers on your browser do work wonders. I prefer to "consume" based on a "pull" model instead of what often happens where people buy choices that are "pushed" to them via advertising.

Plus 1 !

and...
I stopped buying the paper, very rarely watch the news on local TV, I just watch stuff recorded on foxtel or the net, it has made me a much more positive person I think.

I do look at the news on the net at work, so I am not out of the loop completely, its still hard to read sometimes though.

yep, me too !


Yes it's hard to quantify happiness. Each to their own I guess.
No one can tell another how happy they should , would or could be, let alone how much money it takes to qualify ones happiness.

The older Im getting, the more simple and plain are my happiness moments.

Must admit I chased the almighty $$ pretty hard when younger but came from a background of virtually zero intelligence of investing so a fair bit of time wasted until Jan Somers books fell in my lap !

We built up a bit of a bank of assets since and now cashing a bit of that in on the back of this latest run in the SYD/NSW IP markets.
How long can it go and how long 'till the next run after this?
Yeah, Im not going "all up" & waiting for that.
Still have a couple IP's burning away and all priv debt offset.

Looking forward to some time off and some travel and quite anxious about doing it sooner rather than later as my sister passed away exactly 1 yr ago aged only 61. That was and still is a shock and a massive slap in the face wake up call.
 
This is sort of on the same subject I think...... even if you have enough money today, its not enough because you need to do the same/help your children, set them up? This can create pressure but also stress, its a dual edged sword. Does anyone think the same way, or is it just me???

It must be just you.

My parents set me up by providing me education and food. The rest was up to me. Not a cent from them. Not sure why a parent has to set a kid up any more beyond that.

In luckier families, it's the other way around and the kids get rich and set the parents up.

Besides, unless you have a well-defined plan like most billionaires, setting your kid up for the average folk just means giving them a house or two and some money. That's a pretty bad message to send to your children and probably inhibits their ability more than anything.
 
I seem to remember a thread a couple years ago now that dealt with this scenario....a lady who comes from a family with a heap $$ but feels left out and wanted to get a ordinary job, be part of the general run of the mill.

Anyone else remember this?
 
In 2006 the folks lent me the cash so I could owner build my own home (the bank would not lend to me as I was not a builder). On completion, the bank paid dad back and I owed the bank. First the comments were obviously about the silver spoon I was feeding from, secondly when the same people found out that dad charged the interest that would of been earned in a fixed deposit, he was a tight ****!

Even at the time I knew and understood the opportunity I was afforded and they certainly knew how greatful I was. As for the interest, Dad didn't need the money, I needed the lesson.
 
At risk of sounding obnoxious, it's actually quite annoying people always say money can't buy happiness. They should stop going to work for money then and probably doing something they don't enjoy.
 
Some great discussion in this thread.

I just had this conversation with my parents and my in laws in the last 2 days.

Both are thinking about retirement and possibly helping adult children with assets, house purchases, inheritance issues etc. I said to both of them very clearly. " you gave us lots of love, and a good education. You no longer owe us ANYTHING more. Make your decisions based on what you need not on some idea that you should be bankrolling our adulthood in any way. You started with nothing and did just fine. We can do the same. "



It must be just you.

My parents set me up by providing me education and food. The rest was up to me. Not a cent from them. Not sure why a parent has to set a kid up any more beyond that.

In luckier families, it's the other way around and the kids get rich and set the parents up.

Besides, unless you have a well-defined plan like most billionaires, setting your kid up for the average folk just means giving them a house or two and some money. That's a pretty bad message to send to your children and probably inhibits their ability more than anything.
 
At risk of sounding obnoxious, it's actually quite annoying people always say money can't buy happiness. They should stop going to work for money then and probably doing something they don't enjoy.

You're assuming the source of their unhappiness is work-related, which is largely not the case. The study I mentioned highlighted that once you escaped poverty, additional money doesn't improve people's levels of happiness.
 
You're assuming the source of their unhappiness is work-related, which is largely not the case. The study I mentioned highlighted that once you escaped poverty, additional money doesn't improve people's levels of happiness.

study or not, I believe a great majority of the population are unhappy as a result of financial inadequacy. I think the marginal utility does decline; once you have a nice house and beach house, good car/s and the kids school fees covered, the rest is just bragging rights. Sadly -and necessarily - most people aren't in that position and every dollar does count.
 
study or not, I believe a great majority of the population are unhappy as a result of financial inadequacy. I think the marginal utility does decline; once you have a nice house and beach house, good car/s and the kids school fees covered, the rest is just bragging rights. Sadly -and necessarily - most people aren't in that position and every dollar does count.

Once you have a modest house that meets your family structure needs, a couple of year old reliable and economical car, a simple and functional wardrobe of clothes, minimalistic household furnishings and gadgetry, use of freely available good public schooling, and only ever use credit to purchase appreciating assets then you have "enough". You can be similarly happy, far from broke and within easy reach of early retirement should you so choose to.

It is people's propensity to think they "need" ever-bigger McMansions, new cars every other year, the latest fashions, every latest gadget under the sun, fancy pants schools for their kids, and credit cards maxed out at their credit limits that keeps them working for and spending every dollar they get, thus struggling to ever retire with enough money to perpetuate such a lifestyle.

The latter lifestyle and has been psychologically engineered by large corporations over the last century through clever marketing tactics that generate greed, envy and fear. It is so well ingrained in society that anyone suggesting a modest lifestyle otherwise is considered an outsider and labeled frugal or a cheapskate.

If you read the former lifestyle through the eyes of someone a century ago, it would seem like a happy lifestyle of dream proportions but within 100 short years it has been largely lifestyle-inflated away. Well, only if you choose to let it be.
 
from The Escapologist this week

How to Know What You Really Want
By Sid Savara

What do you think your life would be like if you only chased after what you really, truly wanted?
Instead of what you think you should want? Let?s imagine this (maybe you?ve felt this way before)?.
You?re looking at pictures and updates from your friends, seeing what they did this weekend -
? Sitting around a fireplace laughing
? Sipping tropical drinks on the beach
? Cooking in their fancy kitchen
? Climbing mountains
And you think to yourself ? ?I want to do that.?

But do you really?
Or is there something else in the pictures you really want?
When You Want What ?They? Have
I met with a friend recently who said she went hiking after being inspired by my pictures?.
And she was miserable
You know why?
Because she didn?t want to hike
She thought she did?but that?s not what she was after.

What Was She Really Chasing
When she saw pictures of me hiking ? happy, tired, accomplished ? she thought she wanted to hike.
She saw me climbing over rocks, standing at the summit?
But then when she was in the same situations ? she hadn?t enjoyed it at all.
Because, hiking is not what she was actually seeing in the pictures.

What she was seeing in my face was something that goes much deeper than hiking. ? and in the end, has very little to do with hiking at all.

What she really saw was my enjoying myself and being satisfied with my life ? and that is what she really wanted.
She wanted to feel the way I feel when I hike?
And when she didn?t get that feeling I get, she didn?t enjoy it.

I love to hike. When I spend a day out hiking I feel alive, I lose track of time ? and there is no place I would rather be than right where I am at that moment.
But not everyone feels that way.

The (Often Failed) Pursuit of Happiness
Some people like to watch movies, cook, dance, ride horses or paint.
You may or may not like any of these things. So chasing happiness by doing what has worked for others does not guarantee that you will like it. Don?t chase after something just because you see someone else has it ? and imagine that because they have it, you must have it too.

If something they are doing is aligned with their life ? but not aligned with yours ? you are bound to be disappointed. You have to do what?s right for you - for me that is hiking, speaking, running, playing guitar, creating great software. But do not waste your time chasing something because you think it will bring you the happiness it brought other people.

So the next time you see people on TV drinking beer and laughing watching football, ask yourself?
Do I need beer? Do I need to watch football?
Or what is it that I really want ? that will bring me the same happiness?

Are You Doing What Matters to You ? Or ?Floating?
If you aren?t sure what to do with your life, if you are perhaps ?floating? through each day, not sure what comes next, there are two things I want you to know:
First: that?s more common than you think, I see it all the time.
And second: that?s also a problem, because it often means you are throwing away weeks and months of your life, spinning your wheels for nothing in particular.

Time is your most valuable resource ? and once it?s gone, it is gone forever.
That?s why at every moment you must live your life to your fullest because there is no one-size-fits-all ?the? fullest. How would it feel doing things, knowing that your life is going in the best direction for you?

You can feel that way. Setting a course for your life, whether it?s for a few years or just the next few weeks, is covered in intense depth in The Action Solution. I call it ?Your Compass.? It is almost impossible to overstate how important finding your compass is to living a great life, a life that matters ? because if you work hard towards something that doesn?t matter to you, then you do a disservice to your goals that do matter. By always chasing what others are chasing, you?ll always be living a ?Wanting? life ? a life where you want this, you want that ? and then when you get it, it does not satisfy you.

On the flip side ? when you begin each day with a sense of purpose and knowing that what you are doing today is the precise right thing for you - everything you accomplish satisfies you. Once you start to live with the feeling that each day and every action you take matters, not only will you be more productive ? but you?ll feel great as you actually get things that matter to you in your life, and have more joy and happiness in the journey.

The difference between living a life where you feel every day matters, versus one where you watch the days go by will turn you into a different person ? happy, fulfilled, content and successful.
Sid Savara
For The Escapologist
 
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