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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.
money can't buy happiness and if you are so miserable you sure as heck won't be any happier if you are broke as well
Rene Rifkin Quote ... " Money won't buy you happiness, but it will buy you a better form of unhappiness ! "
Asset rich and material possessions don't make you feel overly happy for long.
The real happiness comes from being financially free, and filling your life with activities and other things you perceive to be worthwhile, and that you have time to pursue, and choosing to go to work because you like to rather than have to.
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Boiler Room, never seen this movie, OK, got that on my list now
Don't bother MTR, it's terrible.
For eg; say you are a $500k per year earner.
You will never see that person living in a suburb where the average price of a house is $400k, and the only school is a local public school, and he/she is driving around in a 10 year old Falcon, and goes camping at Echuca every school hols, etc.
I don't know a single $500k earner (I know a few) who lives like this.
Boiler Room, never seen this movie, OK, got that on my list now
Don't bother MTR, it's terrible.
TED Talks- Srikumar Rao: Plug into your hard-wired happiness
https://www.youtube.com/watch?v=W7B_4zGHJQg
http://www.liveinthemoment.org/
...... 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???
In my experience, rich folks are mostly like this in terms of their generosity with their money - unlike what many poor people perceive them to be.Everyone has different drivers. I knew of one well remunerated chap earning well into the $ X00,000 back in the early 1980's. Lived in the outer suburbs of sydney in a basic rented house, sent the kids to the local public schools, didn't drink/smoke but gave his money to his church.
In his case money and the ability to do good with it was his driver and he lives modestly.