Money Makes you Happier

[Vigilante]

The entire premise of this ongoing debate is silly to me. If you apply a modicum of intellectual honesty, and allow yourself to get past the politically correct bullshit, there is only one single answer to each of these questions as below.

Would you be happier : be on a yacht in the Pacific ocean watching a baby whale learn how to breech in lessons from her mama, or on the same afternoon working at Subway for $8 an hour?

Would you be happier : with a million dollars in the bank, or with past due rent?

Would you be happier : eating a steak prepared by a private chef on your balcony overlooking the Swiss Alps, or cooking your kids Ramen noodles for the fourth night in a row because that's all you can afford?

Would you be happier : Driving a 2013 car of your choice that you paid cash for, or riding a bike with a flat tire because that's all you can afford?

Would you be happier : Donating $500,000 anonymously to a charity of your choosing, or being the recipient of a free bag of groceries from the Good Will because you had no money and no food?

Would you be happier : Giving your parents $100,000 because you can, or asking your parents for a $70 loan because you need gas and can't afford it?

Here's one for the "once you have $74,257 your happiness starts to dwindle crowd.

Would you be happier : Staying at the Howard Johnson motel with your family of six, or staying at the Ritz Carlton while your wife gets a massage and your kids play in the pool while you sip champagne?

Would you be happier with a $200,000 house and a mortgage (which is what you will have if you make $74,257) or with your dream house?

Would your kids be happier if you had enough money that you didn't have to work, and could spend more time with them?

Would you be happier waking up on a Tuesday morning and deciding to spend the day at the beach, or waking up that same morning at 6:30AM to shower, get the kids to daycare, and taking the train downtown for another day at the office?

I really don't get people's adamance that money doesn't buy happiness. I think it's a false piety or rationalization that we're taught from when we are young, most likely by people that never have money... and never assume we will either.

A friend of mine commented the other day that his life will be better when he has a private jet. The people around him laughed, as if he was kidding. Not only was he not kidding, but he was right... and he will have that jet some day in the (near) future.

This is likely my last post (ever) on this subject, as the discussion literally makes zero sense to me.

 

[Runum]

I'm just curious as to why some of you are on a Fastlane Millionaire wealth building forum discussing wealth building strategies and taking philosophical positions against wealth building. Sounds like hedging your bets to me. Kinda like being in the middle of the road and getting run over. Hard to take you seriously.

This isn't a touchy-feely, holding hands feel good forum. This is a forum about making money, building wealth, and giving yourself more choices in life as a result of your actions.

 

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[Kak]

Perhaps their issue is that your parents are the ones supporting your "lavish" lifestyle and you currently provide no value to society whatsoever.

You need to read thick face black heart bad. 100k a year is a joke. Stop giving a shit what people will think or say about you.

When you make your own money...F*ck people who don't matter. They don't have to know you are a millionaire. Or they can. Whatever. I don't give a F*ck.

Get a job Omerta.

 

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[MJ DeMarco]

What Matters in Life? "Mexican Fisherman" Meets Harvard MBA:

Great story, except they left out the end of the story.

You know, that part where fisherman ends up becoming a bankrupt beggar without a roof above his head because he chose to spend his days F*cking around.

Soon after the Harvard grad left, the government came in and told the fisherman that he can no longer fish at his favorite lake because he couldn't afford to pay for the lake license.

Additionally, he could no longer afford to insure, certify, and license his boat which is soon after became mandated by the state. Unable to pay the fees for legal operation, insurance, licensing, docking fees, the "Mexican Fisherman" stopped fishing.

But it gets worse.

He then loses his boat to a mechanics lien-- he ultimately fails to pay the slip-fees to the dockmaster for harboring his boat.

The "Mexican Fisherman" now plays a different tune with his amigos ... something along the lines of "money can buy happiness."

 

[Runum]

omerta, i know how you feel. some people here are 'rude'.
but hey, most people succeed in this world has some kind of rudeness, some people said this as 'flare of arrogance'.
so if you want to thrive, you've got to deal with these type of person. join them and develop idontgiveafuck and gofuckyourself mentality.
nice guy hardly make it, simply because they were too nice to succeed.
so, buckle up and suck it up.

This is not directly aimed at you qewrtyass but the word "rude" is being tossed around here a lot lately. I can understand how some responses that are blunt can be taken as rude.

I want to propose something for the readers out there to consider. Which is more damaging?

I can choose to see a fellow member making wrong choices and banging his head on the wall, and because I don't want to hurt his feelings, I say nothing. I walk away and let him keep stumbling.

Or, I can choose to say some words from my experience and perspective that may just keep him from hitting his head anymore. It may be that my friend has been told to duck and not hit his head many times and he still keeps hitting his head. But, one day, I grab him by the shoulders and tell him eye-to-eye, to duck and quit hitting your head. And, he quits hitting his head.

I teach over 100 students a year. I wish all people could accept "please", and nice requests and learn from them. Most can do that, however, there are always a few that you have to sit them down, eye-to-eye, and tell them where they are messing up. They just don't get the hint.

I, personally, think it is far kinder to help someone rather than ignore it and allow them to keep hurting themselves. Others call it rude, I call it caring enough to help.

To each his own.

Glad you are back Omerta. I wish you well.

 

[AmyQ]

I'll bite for a second time because the thread is interesting and because it stimulates some deep discussions about life's most important thing: Happiness. For me being a millionaire is not worth the shot. Well, it is but for some reasons it is not.

Why? Because we live in a sidewalking world where the majority of people is mediocre and will judge you, criticize you and insult you if you are different and a millionaire. And that sucks.

Here's my perspective. Being the son of slowlane millionaires is often pretty difficult for me because let's say I'm a little different from others. First, I have a lot of class, I dress well, I eat well and I speak well.

So...people look at me differently and threat me differently,etc. They think I am rich because I love good things in life and I'm not just like them. Example : I go to the bar. Guys my age drink beer, jugs of beer. And they are all dressed like shit.

After guess what? They drive their car. Drink and drive, yes sir! I'm the guy who looks well and I'm the guy who orders a glass of italian red wine. Or if I walk calmly in the street and smoke a cigar when they get back from their work stressed like hell. I think to myself "F*cking sad". They often look at me, with a confounded look, or even an disturbed look on their face. Angry sometimes. I'm the guy who drinks is coffee black. I'm the guy who broke is back playing and practicing too much guitar instead of being a Dj who plays talentless music.

I'll tell you how it feels. It feels like shit. I'm not even a millionaire but I look like one and people don't like it.

And it pisses me off. I think I will aim for $100 000 a year from a business instead of millions. Unless if I live in Monaco. It just sucks when everyone around you is crappy and is full debt and you are almost the only one who's conscious with is money and behaviors. We have become a society of compulsive consumers who can never stop spending their money. You cannot print 85 billions a month when everyone is in debt including the government and expect the economy to survive.

This post strikes me as delusional, arrogant and entitled. If you are presenting in the real world the same way you are here, I think that the social rejection you are experiencing has a lot more to do with that than your "class" or having rich parents.

I can't decide if you are for real or a troll. If these words really do reflect your beliefs and views in the world, that is what is sad. It is much sadder than people being stressed from working at a job for money.

I can see how using your parents money and labor as a healthy adult (from a privileged background) to sustain yourself while smoking cigars would feel like shit. You know what feels great? Using my money and labor to do things for my family and loved ones.

 

[AntiGuru]

I remember the first time I ever got a decent payout from a venture, walking to the bank with a certified check for a quarter-million in my pocket, something happened which I found very curious at the time: I didn't feel any different. Sure I was happy, in a good mood and everything - but I realized then and there that no matter how much money I ever made, it wasn't going to change me or define who I was on the inside.

Having said that, I like having enough money to not generally worry about money. Sure, I've had up cycles and down cycles over the course of my business career (I just took a bath on one of my investments, a business I bought into completely tanked) but day-to-day money worries (rent/mortgage/bills/private school for kids, etc) have been a thing of the past for me for a long time.

In my mind, having money means freedom and that's what enables me to do the things that will make me happy.

As has been observed in this thread: most people who pontificate that "money won't buy happiness" often don't have any; but the corollary to that is I suspect those same people think that if they won the lottery they'd never be unhappy again. They are wrong on both counts.

 

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[DeletedUser394]

Got these 3 items in the mail today. Had to pay money for them. Pretty happy right now (usually happy.. so this is augmented happiness). Point proven. Next question!

 

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[Kak]

Funny thing. I took a trip to southern California today to meet with a team member in person that will put a hell of a lot more money in my bank. I like the game so that makes me happy. I am currently enjoying a glass of wine with a carpicco and capresse on a deck overlooking the pacific ocean. I love good food so that makes me happy. All of this was purchased with money. Nothing else works here. Being content with mediocrity isn't a currency...

No need to tiptoe around the subject and say things like "it buys you experiences" "it buys you freedom". Quite frankly: Money. Buys. Happiness. If you think otherwise, have fun in mediocreland.

Mini canollis next, then an after dinner cigar...

 

[Runum]

I also have to comment on the "class" thing.

Clothes and possessions do not define having class", actions do. I have seen some people with a lot a class and not much money and I have seen well dressed jerks.

You are acting as if you are better than your friends because of your clothes provided by dad. Not classy in my book.

Classy is all the people here that cut you a break when you let your mouth talk without thinking.

Good luck.

 

[Kak]

Thanks, I'm leaving. I don't take people who laugh at my posts or call me a troll. It is better if I leave so I won't be posting "arrogant or delusional" posts anymore. I'm done.

Please someone tells me how can I delete my account. I've searched the options and I can't find it.

But I wanna thank MJ DeMarco, Vigilante and other fastlaners who had helped shape a better version of me in the future. Mj, your help was truly beneficial to me. I recommand your book to almost everyone I know. Thanks.

OK, Omerta. Everything I said was DEAD ON TRUE. You know it too. If you can't handle the truth then GTFO.

First and foremost you need to move out, then you need to get a job, then you need to start working on something to replace the job income, then you can talk about your lavish lifestyle.

You also won't be so soon to accept the opinions of others if it is your HARD EARNED MONEY they are shit talking. You will take a much bigger offense and question if you should be around people like that.

Believe it or not, I'm trying to help you. If I lived with my parents when I was trying to start businesses I would have had zero motivation and would have spent my time circle jerking around on the golf course, acting classier than other people, smoking cigars poolside and being a class-A douchebag just like you. I made the conscious decision not to go that route. I needed it to hurt if I didn't act.

Clean up the F*cking act man and get something started.

PS: I bet if you started a progress thread going from where you currently are, to moving to your own place, through your own job, and eventually when you are able to comfortably quit it will be a quite successful and inspiring thread.

 

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[The-J]

Things that make me happy: freedom, good food, sex, a nice cup of tea, a warm bed, mojitos, time at the beach, freedom, spending time with friends and family, Timbits, good music, air conditioning, bacon, lifting weights, martial arts, and freedom.

Hmmm money can buy me every single one of those things. Curious how that works...

My perspective on the issue has changed quite a bit. Yes, happiness comes from within. But if I can't do something I want to do, am I not a bit sad because of it?

 

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[Vigilante]

Money can make you happy, only when money is relevant.

If you are lost in the wilderness with nothing to drink and 10k in your pocket. Money isn't making you happy.

If you step on the scale and weigh 5 more pounds when you wanted to lose 10, Money isn't making you happy.

If you have a terminal illness, Money might make you more comfortable, but not happy.

There are lots of times in life, when money is not relevant.

These hypotheticals are bullshit. In each circumstance, you would be there regardless and money still has an impact.

If I am in the wilderness with money, I have a GPS and I have people in a private helicopter looking for me.

If I step on the scale +5LBS and have money, I can buy a trainer to help me meet my objectives.

If I have a terminal illness, it would make me much more happy to do everything possible, including flying to Vietnam for the latest treatment. Conversely, being on public assistance with a terminal illness would be hopeless.

Bullshit. Money is always relevant. Circumstances are altered when money is involved. Always.

 

[PaulRobert]

Would you be happier : Giving your parents $100,000 because you can, or asking your parents for a $70 loan because you need gas and can't afford it?

This is what all those sleepless nights, smart work, and persistence is for.... Being able to make a better life for yourself and your loved ones.

I made my mother cry today - YouTube

 

[InMotion]

An excerpt from the article.

"Why does more money mean more happy days ahead? Wolfers says he leaves that up to others to decide, but he has one theory: “It may be that the relationship is not between your income and the number of iPhones you can buy; it’s about the choices you can make.†And the more money you make, he says, the more choices open up. “But I would never say become a corporate lawyer and not work for a nonprofit if you found that more fulfilling,†Wolfers says."


Science: Money makes you happier - MarketWatch

 

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[JAJT]

Sure money can't buy happiness because happiness is a choice.

I'm not sure I agree with this.

I mean, yes, one COULD choose to ignore all hardships and roadblocks and be happy in spite of them, but that's an everyday uphill struggle for happiness. It's admitting to yourself you'll never have what you want so you might as well get used to it and be happy about it, as a choice. A smiling prisoner.

IMHO happiness is the result of having enough money to pay for the things you want to do and time enough to actually do them.

Every time you hit an unmet want or need, it wears on you. The more unmet wants/needs you hit, the more and more wear you'll take on. Whether that's not enough time with family or not enough money for a vacation - it takes it's toll. Soon you hit your breaking point and take on a midlife crisis where you say "F*ck it", go do something you can't afford (in time or money) because something has to give.

Money (enough to pay for what you want) + Time (enough to do what you want to do) = Happiness (a reduction of unmet wants/needs).

 

[MJ DeMarco]

MJ demarko even mentioned that had he not moved to phoenix he would have been on meds and depressed. His ability to launch the limo biz enabled him to escape that.

If you're going to ROYALLY F*ck UP my story, at least get my freaking name straight. I moved to Phoenix with $900. The "limo biz" you speak of, at least at that moment, was a one page website making enough money to afford a McDonalds Happy Meal. So NO, my business (or money) had nothing to do with my move-- it was my determination to make something of myself by any means necessary, even if that meant jumping out of the nest without knowing how to fly.

 

[PaulRobert]

Something I've been saying to people who say "Money doesn't buy happiness." - It doesn't, it opens up doors to opportunities that create happiness.

 

[Vigilante]

I am happier with money than without.

 

[Kak]

I actually know one. He is very unhappy right now. Probably because he is losing most of his money.

 

[GuestUser8117]

Thanks, I'm leaving. I don't take people who laugh at my posts or call me a troll. It is better if I leave so I won't be posting "arrogant or delusional" posts anymore. I'm done.

Please someone tells me how can I delete my account. I've searched the options and I can't find it.

But I wanna thank MJ DeMarco, Vigilante and other fastlaners who had helped shape a better version of me in the future. Mj, your help was truly beneficial to me. I recommand your book to almost everyone I know. Thanks.

 

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[DeletedUser394]

I've always wanted a reason to use this icon. :nopity:

 

[Runum]

Thanks, I'm leaving. I don't take people who laugh at my posts or call me a troll. It is better if I leave so I won't be posting "arrogant or delusional" posts anymore. I'm done.

Please someone tells me how can I delete my account. I've searched the options and I can't find it.

But I wanna thank MJ DeMarco, Vigilante and other fastlaners who had helped shape a better version of me in the future. Mj, your help was truly beneficial to me. I recommand your book to almost everyone I know. Thanks.

Omerta you have to admit you brought this on yourself. You take the risk and post these stories about your lifestyle given to you by your parents. Then you wonder why others are on your case.

It has to do with your age and perspective. We know you have some growing and changing to do, we just dont see it happening.

Here it is very bluntly, you are living off of your dad's dime. It is not your money, house, or possessions. Start doing something for you besides playing the guitar and share it with us. Or, quit commenting on things from the authority of your dad's wealth.

You cannot delete your account and it will not be deleted. Your posts are the property of Mj. We can ban you or you can stop posting.

Good luck whatever your decision you make.

 

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[Sir Ingenious]

Honestly, as a 25 year old, I have a LOT to learn.

That's part of the reason why I'm here. Heck, I think that's 80% of the reason why I'm here: to learn and be inspired. Iron sharpens iron.

For instance, in another thread, I gave a small advice about how to crowdfund and I recommended a book. I thought I was done, patted myself on the back and I let my ego get the best of me a little bit there. And then zen*******, a guy with tons of experience and who knows much much more than I do, came in this thread and humbled all of us with his insight. Right there and then, I knew I just had a lot more to learn about things.

And if I were to be honest, I got overconfident because I thought I knew everything. I get like that quite a bit (actually, a lot) as it's a habit of mine that I need to keep in check. A lot of times, it's humbling when you got an expert or someone who knows more than you says you're wrong and explains why. Hey, it's a bitter pill to swallow but it's necessary. Medicines aren't supposed to taste good, after all. Or even feel good. Everyone, especially myself, should take a step back and look at the whole picture; we don't know everything. We shouldn't assume anything and that's humbling as heck.

As a result of that thread, I went to a website made for INSIDERS and I am reading through this whole PDF thing about getting Investors. AMAZING. I plan to put it into practice too. Not done reading but amazing so far, I gotta say.

Anyways, just because a guy is living a certain way or does certain things doesn't make it our business. We live our lives the way we do because we perceive things differently. We have different belief systems and we are different. I don't know you and you don't know me because life is a series of events that adds up over time, ala our experiences. The only thing we can do is to gain enough insight to determine what we are not, just so we can know what we are. We should know ourselves as much as we can, to efficiently be ourselves as best and much as possible while we are still alive. So, don't strive to be better than the next man but be better than your former self.

So, don't get mad when a guy who knows more than you calls you out on things. However, take it as an opportunity to learn from that guy and pocket that insight to make yourself better. Like I said above, iron sharpens iron. It hurts but you're sharper as a result. Medicines aren't supposed to feel or taste good as well.

Anyways, that's my 2c.

 

[AmyQ]

Omtera, my response to you was harsh. That is on me. 100%. How you respond to it is on you. 100%. Prove me wrong. Take the advice of others and go and produce something of value that you can be proud of.

Insulting worker bees while you live off of others just doesn't fly with me. I employ people who are working their asses off to provide for their families. Their labor also provides for my family. I owe them gratitude, not scorn. So do you, really. Producing enough to provide for yourself is nothing to be ashamed of, and producing enough to provide for yourself and others by offering people employment is something to be proud of. As Kak pointed out, nothing is stopping you from doing either, and people on this forum (myself included) would cheer you on along the way if you choose to do so.

 

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[Kak]

Sorry if the thread has turned out like that. Sometimes I write shit that I will regret after without really thinking it. I still have a lot to learn. Don't ban me.

And I don't blame anyone but myself. And by the way, I pay for my expenses and I buy my own clothes. I've made around 25k from 17 to 20 working shitty jobs until depression and sickness arose. Now I'm good since mid 2011. Sort of "recovery". Still have some of the money I managed to save but it's getting very very thight as I blew it mostly in restaurants and useless shit along the years.

I hate the idea of going back to work because I've kinda tasted what the fastlane is and it's very nice when you don't have to worry about anything, wake up when you want and do what you want. Except the fact that your dad is pissed off at you almost everyday. Lol.

That being said, I have a crowdfunding/fundraising project. It's to help those who don't have access to water. Not just water, clean water. Mostly in africa, and south america.

When I think that 800 millions of people worldwide don't have access to good water, it touches me. It is dear to my heart. And I feel I need to do something about it. Would make me happy to help those in need.

Need : people need water. Nothing more basic than that.
Scale : lots of people need it.
Entry, time, and control :?

I think I'll stop posting for a while and try to get my life in order. Believe me, it is F*cking hard to change.

*edit : Mj, don't use any of my posts in your new book please.

Let us know how everything pans out for you. I genuinely wish you success.

 

[Jonleehacker]

Seems to me that being happy, allows you to make more money.

 

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[CommonCents]

I think it is largely a magnifier of who you are. If you are a good person, you can be even better. and help more people(scale). If you are a dick, you can be a bigger dick with money. My life is much better w/ money. Just getting past the daily survival/paycheck to paycheck barrier is a HUGE relief for people. The daily grind for survival is terribly stressful for people I have found. <=== I don't wish that on anyone, especially myself

 

[DennisD]

I remember a study on happiness + money. I can't cite it because this is from memory.
But the summation of the findings:

-Poverty makes you unhappy. Many marital, relationship, self esteem, and well being issues are directly related to money at this level. If you're living at or below the poverty line, money can make you happy in a very real way. More money means you will live longer, you don't stress about shelter, food, health, transportation, etc.
-After all basic needs are met... and you have enough money to feed yourself, shelter yourself, etc. more money is inconsequential to quality of life and happiness. Happiness for those above the poverty line is dictated by self-image, confidence, personality, and self actualization.

So statistically the poorer you are the unhappier you are. A very rich and an Ultrarich person will typically have equal levels of happiness.

It's my PERSONAL hypothesis that Ultra-rich people became ULTRA-rich due to personality traits that are associated with happiness. They're optimistic and action takers, fearless, don't allow negatives in life to stop them. You obviously feel good about yourself knowing that you've created wealth. The people who inherited wealth (again, in my humble opinion) are more likely to be depressed... they haven't "made" anything of themselves and don't feel the same sense of self-worth and accomplishment.

If you handed me $1m right now, I'd certainly be happy that I didn't have to live in such horrible circumstances.. but I KNOW I wouldn't be content with MYSELF until I accomplished the same thing through hard work.

 

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[socaldude]

Here is my take:

According to Psychologists we have 3 "emotional networks" in our brain:

1. One for social soothing and social connection. Laughing with friends or cuddling with your BF or GF.

2. Another for motivation and desire. We feel excited and optimistic for the future.

3. And another for fight or flight response or self preservation. Anxiety, anger adrenaline, worry, suspicion etc.

When we are clinically depressed we "press down" on the first two emotional networks and experience less positive emotions and dramatically elevate the third emotional network and experience negative thoughts and feelings about ourselves and others. This is the SCIENTIFIC explanation of depression.

To me happiness is the opposite of depression. We have rich relationships with others and we feel tremendous optimism for the future and have low thoughts about worry and anxiety. Its a journey not a destination.

I rather be a thousandaire with lots of rich relationships than be a loner millionaire.

I can't imagine trying to start or business or trying to date someone while I have negative thoughts and low mood or AKA not happy.