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(Business Insider)   Despite what you may think, "Penta-Millionaires" are much happier than individuals worth less than $100,000. Here's Ric Romero with the science   (businessinsider.com) divider line 90
    More: Obvious, life satisfaction  
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6062 clicks; posted to Main » on 28 Feb 2013 at 5:41 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-28 05:02:47 PM  
i.imgur.com
/gselevator
 
2013-02-28 05:03:52 PM  
Every study I've seen (like this one) say that hapiness levels out at $77,000 or so and that nobody is considerably more happy than anybody else once you hit that point.  The study in TFA, however, compares people who are worth $5 million or more only against people who make under $100,000, the majority of whom obviously make less than $77,000.  So you can see my problem with it
 
2013-02-28 05:12:17 PM  
I'm feeling pretty good about the fact that I have no idea how much I'm "worth".  What category does that put me in?
 
2013-02-28 05:21:47 PM  
25.media.tumblr.com
 
2013-02-28 05:24:08 PM  
img40.imageshack.us
 
2013-02-28 05:24:48 PM  

Ambivalence: I'm feeling pretty good about the fact that I have no idea how much I'm "worth".  What category does that put me in?


Happily unappraised?
 
2013-02-28 05:25:14 PM  
The 'money = happiness' effect must level off somewhere.  There has to be an income level where no matter how much more you make you don't really get any happier.  I'd say it's probably quite high though.  I'd suspect it's close too, if not slightly above, 1 million per year.  At that point you can pretty much buy most things you'll ever want without having to save too much.  There will still be the unattainable luxuries but those will only be gold trimmed versions of the luxuries you already have.  A guy with a 50ft yacht might want a 100ft yacht but if he got it would there be much of a measurable rise in happiness?  Probably not.

Mostly for guys it's probably about figuring out the income level with which you can impress, and thus have sex with, which ever women you want.
 
2013-02-28 05:45:05 PM  
Money doesn't buy happiness, but it does remove a lot of sources of unhappiness.
 
2013-02-28 05:45:48 PM  
They bleed red just like the rest of us and their flesh is sweet and tender cooked on a wood fire.
 
2013-02-28 05:46:29 PM  

Ambivalence: I'm feeling pretty good about the fact that I have no idea how much I'm "worth".  What category does that put me in?


ambivalent?
 
2013-02-28 05:47:01 PM  
Business Insider article about millionaires being happy. The rage with be entertaining.


img163.imageshack.us
 
2013-02-28 05:47:44 PM  
If I had that kind of money all of my debts would be paid off. If all of my debts were paid off, I'd be happy.
 
2013-02-28 05:47:48 PM  
Competition for money is the single greatest destructive force in modern civilization.
 
2013-02-28 05:47:57 PM  
Is that because they come with the MMX instruction set?
 
2013-02-28 05:48:05 PM  

The sound of one hand clapping: The 'money = happiness' effect must level off somewhere.  There has to be an income level where no matter how much more you make you don't really get any happier.  I'd say it's probably quite high though.  I'd suspect it's close too, if not slightly above, 1 million per year.  At that point you can pretty much buy most things you'll ever want without having to save too much.  There will still be the unattainable luxuries but those will only be gold trimmed versions of the luxuries you already have.  A guy with a 50ft yacht might want a 100ft yacht but if he got it would there be much of a measurable rise in happiness?  Probably not.

Mostly for guys it's probably about figuring out the income level with which you can impress, and thus have sex with, which ever women you want.


Certainly an individual's capacity to happy comes into play at some point...if you have $100M and you still aren't happy, then the problem isn't the money...it's you.  On the flip side, if you only make $20k/yr and you are unhappy, then I can at least acknowledge that there many external things going on that contribute to the unhappiness, despite having a good demeanor.
 
2013-02-28 05:48:36 PM  
Money may not buy happiness, but it'll buy you a yacht that will pull right up next to it.
 
2013-02-28 05:51:13 PM  
But my man Puff said the mo money you get, the mo problems you get.
 
2013-02-28 05:51:52 PM  

The sound of one hand clapping: A guy with a 50ft yacht might want a 100ft yacht but if he got it would there be much of a measurable rise in happiness? Probably not.


You would have twice the room for more hookers and blow, I could see it bringing more happiness.

Then again, that many spun out hookers could be detrimental, so maybe your right.
 
2013-02-28 05:52:38 PM  
I'm old.  At every stage in my life I have made more money than the last, and at each stage I was pretty sure I would only need to make it to the next level to be happy.   One more level, and I  think I might make it to happy.
 
2013-02-28 05:53:32 PM  
$5M is the point when you have enough money to live an upper-middle class lifestyle without working if you choose to do so. So yes, I imagine people who don't technically have to work, but choose to do so, are in fact working in jobs where they are on average happier than people who are working because they have no other viable choice.
 
2013-02-28 05:53:41 PM  

leevis: If I had that kind of money all of my debts would be paid off. If all of my debts were paid off, I'd be happy.


This, THIS, this - and this again and again and again....
 
2013-02-28 05:54:40 PM  

Whatthefark: The sound of one hand clapping: A guy with a 50ft yacht might want a 100ft yacht but if he got it would there be much of a measurable rise in happiness? Probably not.

You would have twice the room for more hookers and blow, I could see it bringing more happiness.

Then again, that many spun out hookers could be detrimental, so maybe your right.


But hey, every guy only has one dick.  I'd say there's probably such a thing as peak hookers.  A few is great I guess cause you've got plenty to choose from.  But what about 10?  You're just gonna be too spoilt for choice then.
 
2013-02-28 05:54:57 PM  
Much of your happiness depends on your personality.  Many very rich people are freakin' miserable, because they are wired that way.  If my mother didn't have something to worry about, she'd be worried about that.
 
2013-02-28 05:55:51 PM  
It's better to be rich and miserable than poor and miserable.
 
2013-02-28 05:56:07 PM  
Crap study that doesn't deserve to be published.  Most people worth less than 100k probably work in the service sector.  Not a stretch to say they are less satisfied with their job than a successful entrepreneur/executive (someone likely to be worth north of 5 mill).  Once you make enough to live comfortably, more money doesn't really add much in the way of happiness and contentment.
 
2013-02-28 05:56:07 PM  
those worth $5 million or more were "very satisfied" with their job or previous job.

If I was making what they're making, I'd be happy with my job too.
 
2013-02-28 05:56:53 PM  
FTA: A survey from Spectrem Group found that individuals worth $5 million or more are far more satisfied with their jobs, relationships and work than those worth $100,000 or less.

I know a number of people worth >$5 million, and if they do still work, they're the decision-maker at their job. Of course they're happier - they are the ones who control the situation.

The only exception is my father in law (csb warning), who is worth significantly more than $5 million. He is one of the most unhappy people I've ever met. He also works harder than anyone I've ever met. He grew up poor as dirt, and I think his unhappiness was what drove him to work harder than every one of his competitors, and he's reaping the benefits. Unfortunately, he doesn't know how to sit back and enjoy the fruits of his labor. He just keeps working as hard as he did when he hardly had a penny to his name. He and my MIL went on a one month vacation, which was abruptly cut short 2 weeks in. FIL could not stand to be away from work because he was afraid someone would ruin it when he was gone.
 
2013-02-28 05:57:31 PM  
If money can't buy happiness then I guess I'll have to rent it.
 
2013-02-28 05:57:42 PM  
Fark sake people, it's not that difficult.

When you have at least 5 million dollars, especially in liquid assets, you can be happy as you don't HAVE to do anything. This allows the wealthy to work on things they are passionate about, take risks on endeavors that those of us who are scraping by simply can't afford to.

When you don't have to worry about money, life is very different and some might say, happier.
 
2013-02-28 05:59:39 PM  
I'm sure the money/happiness threshold varies from person to person, but no shiat Sherlock, when you're not stressing over covering basic living expenses you're happier and actually have the energy to put into other areas of your life, like personal relationships. I'm nowhere near rich, but I'm a damn sight happier now than when I was making less than $35K a year. I can afford to buy good weed now, too.
 
2013-02-28 06:00:23 PM  
I'm assuming a pentamillionaire has at least $10^30.

Gotta buy me a planet with that.
 
2013-02-28 06:00:59 PM  
I have debt worth about 100k...what does that get me (besides several degrees that don't seem to be helping much)?
 
2013-02-28 06:01:54 PM  

JustMatt: Money may not buy happiness, but it'll buy you a yacht that will pull right up next to it.


until the yacht next to yours is about 50 ft longer and has more bikini babes than yours then you happiness will suddenly revert to the opposite.
 
2013-02-28 06:02:35 PM  
"I never took pleasure in earning money. Money is not necessarily related to happiness. Maybe it is related to unhappiness."  - John Paul Getty (1966 Guinness Book of Records named him as the world's richest private citizen, worth an estimated $1.2 billion)
 
2013-02-28 06:04:06 PM  

The Stealth Hippopotamus: Business Insider article about millionaires being happy. The rage with be entertaining.


[img163.imageshack.us image 330x185]


Aand, you used a Lannister, to boot.
 
2013-02-28 06:05:24 PM  

que.guero: Fark sake people, it's not that difficult.

When you have at least 5 million dollars, especially in liquid assets, you can be happy as you don't HAVE to do anything. This allows the wealthy to work on things they are passionate about, take risks on endeavors that those of us who are scraping by simply can't afford to.

When you don't have to worry about money, life is very different and some might say, happier.


Unless you're facing zombies. Then no one is happy, ever.
 
2013-02-28 06:06:04 PM  

The sound of one hand clapping: Whatthefark: The sound of one hand clapping: A guy with a 50ft yacht might want a 100ft yacht but if he got it would there be much of a measurable rise in happiness? Probably not.

You would have twice the room for more hookers and blow, I could see it bringing more happiness.

Then again, that many spun out hookers could be detrimental, so maybe your right.

But hey, every guy only has one dick.  I'd say there's probably such a thing as peak hookers.  A few is great I guess cause you've got plenty to choose from.  But what about 10?  You're just gonna be too spoilt for choice then.


Peak hookers...LOL!

I see what you mean though. I'd limit the number to eight. One for each day of the week, plus a one in reserve in case one becomes ill.
 
2013-02-28 06:08:04 PM  
I need 37 million.  With that I can spend 15 million getting set up and invest the rest at 4.5-5% munis and clear a million a year.
 
2013-02-28 06:09:43 PM  

SnakeLee: Every study I've seen (like this one) say that hapiness levels out at $77,000 or so and that nobody is considerably more happy than anybody else once you hit that point.  The study in TFA, however, compares people who are worth $5 million or more only against people who make under $100,000, the majority of whom obviously make less than $77,000.  So you can see my problem with it


Yeah, everyone that makes under $100,000 covers 86% of the population (as of 2012), whereas $5m is over 13 times what is needed to be top 1%.
 
2013-02-28 06:11:20 PM  
Put me in southeast asia with 15K a year and I am happy as a clam
 
2013-02-28 06:11:37 PM  

HotIgneous Intruder: They bleed red just like the rest of us and their flesh is sweet and tender cooked on a wood fire.


991.com
 
2013-02-28 06:12:43 PM  

azhais: If money can't buy happiness then I guess I'll have to rent it.


Do you have this town on its knobby little knees?
 
2013-02-28 06:17:11 PM  

SnakeLee: Every study I've seen (like this one) say that hapiness levels out at $77,000 or so and that nobody is considerably more happy than anybody else once you hit that point.  The study in TFA, however, compares people who are worth $5 million or more only against people who make under $100,000, the majority of whom obviously make less than $77,000.  So you can see my problem with it


The article refers to total networth, your link refers to annual income.
 
2013-02-28 06:20:24 PM  

xria: Yeah, everyone that makes under $100,000 covers 86% of the population (as of 2012), whereas $5m is over 13 times what is needed to be top 1%.


That's $5 million in worth, not income.
 
2013-02-28 06:22:15 PM  
Un-possible!
imageshack.us
 
2013-02-28 06:23:26 PM  

CygnusDarius: Aand, you used a Lannister, to boot.


of course....

But it is nice to know someone else got it.
 
2013-02-28 06:28:40 PM  

Whatthefark: The sound of one hand clapping: Whatthefark: The sound of one hand clapping: A guy with a 50ft yacht might want a 100ft yacht but if he got it would there be much of a measurable rise in happiness? Probably not.

You would have twice the room for more hookers and blow, I could see it bringing more happiness.

Then again, that many spun out hookers could be detrimental, so maybe your right.

But hey, every guy only has one dick.  I'd say there's probably such a thing as peak hookers.  A few is great I guess cause you've got plenty to choose from.  But what about 10?  You're just gonna be too spoilt for choice then.

Peak hookers...LOL!

I see what you mean though. I'd limit the number to eight. One for each day of the week, plus a one in reserve in case one becomes ill.


Sir, I like the cut of your jib.
 
2013-02-28 06:30:09 PM  

Fish in a Barrel: xria: Yeah, everyone that makes under $100,000 covers 86% of the population (as of 2012), whereas $5m is over 13 times what is needed to be top 1%.

That's $5 million in worth, not income.


I wonder if there's a more drastic difference between over $5M in worth and under $100k in worth than there is between over $5M in income vs under $100k.

At some threshold of income, it's just easier to save and make wise investments that pay off.
 
2013-02-28 06:40:25 PM  

leevis: If I had that kind of money all of my debts would be paid off. If all of my debts were paid off, I'd be happy.


I have no debt but I'm pretty damn sure I would be happier if I had a few million in the bank as well.
 
2013-02-28 06:45:27 PM  

SuperNinjaToad: JustMatt: Money may not buy happiness, but it'll buy you a yacht that will pull right up next to it.

until the yacht next to yours is about 50 ft longer and has more bikini babes than yours then you happiness will suddenly revert to the opposite.


#RichPeopleProblems
 
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