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From browsing a few threads here, it seems the general consensus is that although money doesn't necessarily buy happiness, it's definitely better than lacking money. It's definitely better to be rich than to be in poverty
However, I believe there was a study that said that money buys you happiness until you reach around $75K, at which point there will be diminishing returns on higher income. That is, earning $500K a year doesn't buy much more happiness than if you made $100K a year
Do you guys agree with this? If so, why would you guys pursue entrepreneurship instead of a steady job as an engineer for example? Does working for yourself instead of for a boss lead to that much more happiness? Would you say you'd be happier if you made $75K a year working 60-80 hours/week as an entrepreneur than if you made $100K-150K a year working 40-50 hours a week, on projects that are fun and challenging without too much stress, as an engineer or other job? This is assuming in either case you live within your means and save/invest enough money so you can be financially indepenent/retire in a reasonable time frame
EDIT: In the example above, what if in addition to the high salary and not too stressful engineer job, you were also allowed to work remotely? True, I have to do what my boss wants and can't just do whatever I want, but by being allowed to work remotely, I also kind of get to control my schedule
However, I believe there was a study that said that money buys you happiness until you reach around $75K, at which point there will be diminishing returns on higher income. That is, earning $500K a year doesn't buy much more happiness than if you made $100K a year
Do you guys agree with this? If so, why would you guys pursue entrepreneurship instead of a steady job as an engineer for example? Does working for yourself instead of for a boss lead to that much more happiness? Would you say you'd be happier if you made $75K a year working 60-80 hours/week as an entrepreneur than if you made $100K-150K a year working 40-50 hours a week, on projects that are fun and challenging without too much stress, as an engineer or other job? This is assuming in either case you live within your means and save/invest enough money so you can be financially indepenent/retire in a reasonable time frame
EDIT: In the example above, what if in addition to the high salary and not too stressful engineer job, you were also allowed to work remotely? True, I have to do what my boss wants and can't just do whatever I want, but by being allowed to work remotely, I also kind of get to control my schedule
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