How much is enough $$$???

[3miao]

http://baselinescenario.com/2011/03/12/enough/

At one point in the Planet Money interview, I believe Wolfers did say that when it comes to happiness, someone (Kahneman, I think) had estimated that there is a satiation point at around $75,000 per year.

Is that enough $$$ for you???

[Reporter]

No.

[Solemn Wind]

http://baselinescenario.com/2011/03/12/enough/

At one point in the Planet Money interview, I believe Wolfers did say that when it comes to happiness, someone (Kahneman, I think) had estimated that there is a satiation point at around $75,000 per year.

Is that enough $$$ for you???

As a single person, living where I live, if I just bring home $40,000 a year.....that would be more than enough for me to live a very satisfying life when it comes to my basic needs and more than enough leftover for me to entertain myself in a entertaining way.

On the other hand, if I were to live according to my most carnal and greedy desire, I estimated that I would have to take home at least $10,000,000 a year to have enough to live the way I wanted to live.

Keep in mind that even if I bring home $10,000,000 a year, I'd still have to rent or buy a used private jet. The one I wanted to buy is just not within my measley $10 million budget. $10,000,000 dollars is just not a lot of money these days.

[HPA]

A lot.

$75-$100K is average I think.  Raise the bar.  Thanks.

[8v10un30sun]

Sometimes I want to hate this world because it's so unfair.  Sometimes I think I rather be poor.  FYI, 45k is about medium income.  75k-100k yeah everything is rosy because you don't have to worry about $$ but fawk man you got no time to spend it anyways.  Then due to no time to spend the hard earned $$ you start buying stupid things like 50k luxery car (what a waste of $$), and you buy a big nice house (300k) that sucks the money out of you for utility, insurance, and taxes....and then you take stupid vacation to stupid places like bahamas, mexico, thailand, etc...  The dumbass vacation only last like two weeks tops on the average; that's not even enough time to begin to enjoy the culture and environment and it's over.  Cost a boat load of $$ and feels like a cheap thrill...

Somedays I think being poor on welfare aint that bad.  The government takes care of all your needs and your kids needs.  Shit, I'm going to be a farmer so I don't have to report my income and still get welfare.   

[8v10un30sun]

Oh how much money is enough?  I say about 5million in the bank account.  But FYI, you are just one cancer away from being broke.

[evil-in-deed]

depends on where you live at...

[moo_cow]

http://baselinescenario.com/2011/03/12/enough/

At one point in the Planet Money interview, I believe Wolfers did say that when it comes to happiness, someone (Kahneman, I think) had estimated that there is a satiation point at around $75,000 per year.

Is that enough $$$ for you???

You need to go read Robert Kiyosaki's books. First off read, "Rich Dad, Poor Dad" then read his book "Cashflow Quadrant"

[3miao]

You need to go read Robert Kiyosaki's books. First off read, "Rich Dad, Poor Dad" then read his book "Cashflow Quadrant"

Do share a summary with us. 

[moo_cow]

In "Rich Dad Poor Dad" Robert Kiyosaki talks about two dads in his life. One, the "poor dad", is his real dad who is a very educated man who is a superintendent and he makes good money. (I said good money) He does really good at his "job" and gets promoted but the higher the promotion that just means the more the money right? But! Also more responsibiliti es.
Anyways, then he talks about his "rich dad" who is actually his best friend's dad. He owns his own business and he knows how money works. He knows how to invest and that you don't need to work hard to get rich. That you only need to work SMART. So Robert Kiyosaki takes both advices and lessons learned by both his rich dad and poor dad to apply it to his life.

In his book "Cashflow Quadrant" he talks about four quadrant that represents people who work hard for their money and people who work smart for their money.

[moo_cow]

Do share a summary with us. 

Now do your own research and read the books

[3miao]

Now do your own research and read the books

It is similiar to The Millionaire Next Door by Dr. Stanley and Dr. Danko. Business owners tend to work smarter to be successful. 

[moo_cow]

It is similiar to The Millionaire Next Door by Dr. Stanley and Dr. Danko. Business owners tend to work smarter to be successful. 

Yeah, I think I've heard of that one. My dad has it but I don't know where he has miss placed it lol. Anyways, yes that is correct. Bussiness owners and investors do work smarter. They know that money can make more money. And they know how to use money to make MORE money for themselves. But if someone didn't teach them that and told them that would they have done it?