To make the numbers pretty, the average US national debt per American is about $60,000/person.
A study conducted in 2009 showed that happiness peaked at income of about $75,000 per year for an individual...after that point, subsequent income didn't necessarily increase "happiness". (The Perfect Salary for Happiness: $75,000)
For an UNSCRIPTED Fastlaner...
happiness = freedom
unhappiness = debt/wage-slavery/comparison/hedonic treadmill
75K in 2009, is about $85K in 2017 income. Why might $85K be the magic number for happiness?
After taxes, that comes out to $60K per year. It's the point in which you generally can meet your basic expenses, and have a little bit left over for yourself. You can start "thriving" over "suriviving" without fanatic frugality being your only strategy. You can start buying back time for yourself.
Funny that happiness just happens to "peak" at the point where true income washes out with national debt.
The baby elephant who is chained from birth remains chained as a powerful adult elephant even though it could easily break free. Instead of breaking free, we actively ask for a stronger chain.
Want free healthcare? Sure, let me just tighten that chain first. Want housing subsidies? Let's just tighten that up a bit more....
With business systems, you can generally pay less tax and so need less pre-tax income.
Beyond that 75-85K point of basic needs being met...my wife and I take an 80/20 rule of saving.
80% goes to Fastlane/"buy back time" goals, 20% goes to increased lifestyle, better car, better restaurants, better vacations, or further investment if I so choose. Reward spending is made out of a budget, not comparisons/status posturing. More reward requires more value creation. Frugality comes out of things I simply don't value, not out of masochism.
I still enjoy the fruits of extra income, while also creating freedom fighters in cash systems.
I turned the corner about 2 years ago despite having massive student loan debt from previous slow-lane mistakes.
Now every day I can wake up and can ask "how can I create more value" so that I can "create more freedom".
A study conducted in 2009 showed that happiness peaked at income of about $75,000 per year for an individual...after that point, subsequent income didn't necessarily increase "happiness". (The Perfect Salary for Happiness: $75,000)
For an UNSCRIPTED Fastlaner...
happiness = freedom
unhappiness = debt/wage-slavery/comparison/hedonic treadmill
75K in 2009, is about $85K in 2017 income. Why might $85K be the magic number for happiness?
After taxes, that comes out to $60K per year. It's the point in which you generally can meet your basic expenses, and have a little bit left over for yourself. You can start "thriving" over "suriviving" without fanatic frugality being your only strategy. You can start buying back time for yourself.
Funny that happiness just happens to "peak" at the point where true income washes out with national debt.
The baby elephant who is chained from birth remains chained as a powerful adult elephant even though it could easily break free. Instead of breaking free, we actively ask for a stronger chain.
Want free healthcare? Sure, let me just tighten that chain first. Want housing subsidies? Let's just tighten that up a bit more....
With business systems, you can generally pay less tax and so need less pre-tax income.
Beyond that 75-85K point of basic needs being met...my wife and I take an 80/20 rule of saving.
80% goes to Fastlane/"buy back time" goals, 20% goes to increased lifestyle, better car, better restaurants, better vacations, or further investment if I so choose. Reward spending is made out of a budget, not comparisons/status posturing. More reward requires more value creation. Frugality comes out of things I simply don't value, not out of masochism.
I still enjoy the fruits of extra income, while also creating freedom fighters in cash systems.
I turned the corner about 2 years ago despite having massive student loan debt from previous slow-lane mistakes.
Now every day I can wake up and can ask "how can I create more value" so that I can "create more freedom".
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