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(Today)   How much income do you need to be "happy"? $161,000. Unless you live in Dubai. Then it's $276,000   ( lifeinc.today.com) divider line
    More: Obvious, incomes  
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5669 clicks; posted to Main » on 30 Nov 2012 at 10:45 PM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-11-30 11:15:57 PM  
3 votes:
In a quiet Mexican fishing village, an American who was on vacation saw a local fisherman unloading his catch. He decided to approach him.

The American asked the fisherman, "why are you finishing your day so early?"

The Mexican replied "Oh Senor, I have caught enough to feed my family and a little extra to sell for today. It is now time to go for lunch with my family and have a siesta. In the afternoon, I can play with my kids. In the evening, I will go to the cantina, drink a little tequila and play the guitar."

The business professor was horrified at the fisherman's lack of motivation to succeed. He answered, "If you stay out at sea until late afternoon, you will easily catch twice as much fish. You can sell the extra, save up the money and in six months, maybe nine, you will be able to buy a bigger and better boat, and hire some crew. Then you'll be able to buy a second fishing boat and hire another crew."

He continued, "In another year or two, you will have the capital to buy a second fishing boat and hire another crew. If you follow this business plan, in six or seven years, you will be the proud owner of a large fishing fleet."

"Just imagine that! Then you can move your head office to Mexico city, or even to L.A. After only three or four years in LA, you float your company on the stockmarket giving yourself, as CEO, a generous salary package with substantial share options. In a few more years " listen to this! " you initiate a company share buy-back scheme, which will make you a multi-millionaire! Guaranteed!"

The American got very excited at the prospect himself. He said, "I definitely know these things. I amm a well known professor at the US Business School."

The Mexican fisherman listened intently at what the animated American had to say. When the professor had finished, the Mexican asked him, "But, Senor Professor, what can a person do after getting millions of dollars?"

Now, the American professor hadn't thought that far. He was taken aback by the question.

So he quickly figured out an answer "Amigo! With all that dough, you can retire. Yeah! Retire for life! You can buy a little villa with a picturesque fishing village like this one, and purchase a small boat for going fishing in the morning, You can have lunch with your wife every day, and a siesta in the afternoon, with nothing to worry you. In the afternoon, you can spend quality time with your kids, and after dinner in the evening, play guitar with your friends in the cantina, drinking tequila. Yeah, with all the money, my friend, you can retire and take it easy."

Puzzled with the American's suggestion, the Mexican fisherman replied, "but, Senor Professor, I do that already!"
2012-11-30 11:27:09 PM  
2 votes:

sure haven't: I've always wondered is that household income? Or personal income?
As pure example: if I make $75,000 alone, does my wife's income (let's say another $75,000) not count?

I've always wanted an age breakdown.

75k right out of college is very different from 75k just before you retire after decades of slow raises.
2012-11-30 11:05:14 PM  
2 votes:
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2012-11-30 10:42:13 PM  
2 votes:
The formula for happiness includes $161,000, but it's slightly more complicated than just that amount.

(base income)+$161,000\relatives*(sex*partners\frequency*threesome)+(car\mai ntenance-gas cost)+([penis size][breast size])-debt-(vacation/work hours)+lottery winnings+(alcohol on hand\consumption)*weed
2012-11-30 09:15:19 PM  
2 votes:
I wouldn't live in that sh*thole for anything.

No alcohol, women getting arrested for showing their knees, a long prison sentence for trace amounts of pot on the bottom of your shoes, and that stupid Muslim call to prayer blaring at 5AM?

No thanks.
2012-12-01 12:00:57 AM  
1 vote:
wife and I combined broke 6 figures a few years ago. It seems like we should feel less pressure, but we don't. granted, san diego isn't cheap, but making 5 times as much as my single mom should seem like life is good.

of course, we still have student loans to pay, and the mortgage. also, my son will not have any college debt, which makes me proud.

happiness level is high. comfort level and security rating would be mid-grade.

I always though 100k was the magic number to "all the bills are paid and we can go do the fun stuff" level. turns out I was wrong.

/Back to work
2012-11-30 10:55:53 PM  
1 vote:

BMFPitt: I'm pretty happy with barely over half that, but I'm sure I would be much more happy with it. At $161k (assuming this is steady, and not a one time deal) you're pretty solidly into not worrying about paying for kids' college territory.

Depends on the school, and how many kids you have, and how long you have until they start.
but you are absolutely in the "paying full price" territory.
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