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HOT TOPIC 'I've Never Met a Happy Millionaire' -Tyson Fury

fastlanedoll

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I dunno man. Quite a while ago, maybe 8 years or so ago, I heard the (in)famous claim that if you make over a certain amount of money (~USD 12k a month), more money doesn't make you happier.

I make more than that, but then again I've never been a millionaire, so I can't compare.

I feel, due to limited means, there are still experiences that are 'closed off' to me, e.g. taking a month long holiday (or more) whilst NEVER having to worry about any sort of expenses, like travelling first class, staying in the the best suite in hotels, buying anything I want as I see it.. you know, just not having to worry about expenses in general, and be able to throw money out of the equation altogether.

How much "happier" that would make me, I dunno.
I guess at some point, you'd begin to experience the law of diminishing returns. I just don't know where that point is.
 

PizzaOnTheRoof

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Money can't buy happiness...

...but it can pay off a lot of unhappiness.
 

daniel_m

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I will say this: poor/middle class people who have kids, jobs, bills to pay, etc. often don't have time to be depressed. They're juggling so much sh*t and always have to be planning for "the next move" that an existential crisis is the last thing on their minds. Imagine if I dropped you on an uninhabited island or in a forest - you have no time to be sad, you've gotta find some food/water/shelter and stay alive.

The road to wealth/success is often lonely and in the process, many people destroy their health/relationships/passions, etc. so that doesn't help.

I'm also pretty sure I've read somewhere that there's a correlation between intelligence and neuroticism/anxiety; of course not all millionaires are depressed but it would make sense in theory why Tyson Fury says that.

Interesting book on the subject - "A First-Rate Madness: Uncovering the Links Between Leadership and Mental Illness"
 

ChrisV

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I dunno man. Quite a while ago, maybe 8 years or so ago, I heard the (in)famous claim that if you make over a certain amount of money (~USD 12k a month), more money doesn't make you happier.

I make more than that, but then again I've never been a millionaire, so I can't compare.

I feel, due to limited means, there are still experiences that are 'closed off' to me, e.g. taking a month long holiday (or more) whilst NEVER having to worry about any sort of expenses, like travelling first class, staying in the the best suite in hotels, buying anything I want as I see it.. you know, just not having to worry about expenses in general, and be able to throw money out of the equation altogether.

How much "happier" that would make me, I dunno.
I guess at some point, you'd begin to experience the law of diminishing returns. I just don't know where that point is.
Yea, the studies said that after you make about 100-120K/yr there's diminishing returns on happiness

27413

But it's also a correlational study. We don't even know if money was the cause of their happiness. It could easily be that there are personality traits that lead to both happiness and wealth, which I actually do think is the case. Of course i'm sure money is part of the variation. Stats are complicated. There are also studies show that lottery winners experience no boost in happiness after the initial excitement wears off.
 

Antti

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Pretty sure he is factually incorrect in his statement that "I've Never Met A Happy Millionaire". Being a millionaire is not so uncommon nowadays, there are almost 360k in London alone according to this article by CNBC. Maybe the ones who are happy have a lesser tendency to show off their wealth and Mr. Fury hasn't realised that they are millionaires..?
 

RazorCut

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Studies are just information. It's just data. They have no desire to keep you anywhere.
Oh Chris that is such a blinkered view, you are a smart guy, you know way better than that. :happy:

The vast majority of the information we see each day is based on skewed data sets biased towards the agenda of the publisher. There is desire and intent in pretty much all of it. Hell, this whole Brexit mess the UK currently faces and the fact that we invaded Iraq due to the presence of 'Weapons of Mass Destruction' were caused by skewed, or outright false, data dangled in front of Joe Public like a fat juicy carrot to carry forward the agenda of those with power.
 

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Pinnacle

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Sounds like a personal problem Tyson needs to work on. I'm surrounded by happy millionaires in my networking groups and church.

Their wealth opened the doors to buy the experiences that bring them happiness on abundant levels. Humans are enriched by experiences, not things.

Tyson needs to change the people he attracts.
 

G. Wellthy

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I’ve found that the complexities of wealth, both in financial/tax/“hard” issues and personal/relational/“soft” issues increase the probability of being unhappy. But most people find systems that work for them on the financial side, that grabs more happiness probability, and most people avoid family conflict which can create short term happiness in exchange for long term disharmony.

I guess I’m saying I don’t think it’s the money. It’s the person holding the money. If you make more than that $120k a year number and can peak over the fence... many people see the grass as greener and create a lifetime of comparisons and unhappiness. What a waste of financial success.

Find some space for introspection. Figure out what matters to you about your life. Get your priorities to match your lifestyle. Find some fulfillment.

Fulfillment >>> Happiness any day.
 

Yzn

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Maybe all the ones he met are depressed?

...but that's definitely not an objective statement.

You see at the end he said:
"I've got a family with five kids, a house, a home why wouldn't I be happy?"

Try having those at god damn average salary of $500 dollars when the bare minimum cost of living per person is $1100 (the country I'm in)....
 

Tourmaline

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If someone is happy just being alive, then they will be happy with or without money.
 

Kevin88660

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I have never met someone who is not a millionaire and he is happy with his life.

I rest my case here.
 

pkom79

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Quite a while ago, maybe 8 years or so ago, I heard the (in)famous claim that if you make over a certain amount of money (~USD 12k a month), more money doesn't make you happier.
$12k a month can buy you much more happiness in Alabama than in California or NYC :)

I think most would agree that money can't guarantee you happiness but lack of money (to cover your needs) most often than not will cause a lot of unhappiness.
 
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ChrisV

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Oh Chris that is such a blinkered view, you are a smart guy, you know way better than that. :happy:

The vast majority of the information we see each day is based on skewed data sets biased towards the agenda of the publisher. There is desire and intent in pretty much all of it. Hell, this whole Brexit mess the UK currently faces and the fact that we invaded Iraq due to the presence of 'Weapons of Mass Destruction' were caused by skewed, or outright false, data dangled in front of Joe Public like a fat juicy carrot to carry forward the agenda of those with power.
I just don't understand why there's this conspiracy theory where people think others are trying to 'keep you down.' "They want you to believe you need a college degree to keep you indebted to the government." Who does lol? Your parents told you to get a degree because they want you to be indentured servants of the government? Whatever. That "diminishing returns on happiness after 100K study has been replicated numerous times. Humans can't have unlimited happiness . There's an upper limit.

And yes, I'm a statistician and work in research.. i get the data skew thing... I see no indication that that study suffers from that. Good analysts know how to make sure data isn't skewed.
 

ChrisV

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$12k a month in can buy you much more happiness in Alabama than in California or NYC :)

I think most would agree that money can't guarantee you happiness but lack of money (to cover your needs) most often than not will cause a lot of unhappiness.
They actually reanalyzed that data afterwards to break it down by (US) state:

HappinessAnnualIncomeBAR_CROP.png

2014_HappinessAnnualIncomeMAP2.png


The original primary research:
 

Mr.Chaos

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I think happiness (general happiness) is a precursor. A lot of us make happiness something we receive when we get X amount or when we accomplish X.

I have learned from personal experience to learn to be happy and grateful now. We're alive, we get to build the things that we want, we get the opportunity to go out and help people. Money is a symptom.
 

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Kevin88660

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I just don't understand why there's this conspiracy theory where people think others are trying to 'keep you down.' "They want you to believe you need a college degree to keep you indebted to the government." Who does lol? Your parents told you to get a degree because they want you to be indentured servants of the government? Whatever. That "diminishing returns on happiness after 100K study has been replicated numerous times. Humans can't have unlimited happiness . There's an upper limit.

And yes, I'm a statistician and work in research.. i get the data skew thing... I see no indication that that study suffers from that. Good analysts know how to make sure data isn't skewed.
I think the government likes business people and entrepreneur because they create jobs and are generally not dependent on the government (self reliant bunch). It is the employed people that make government nervous that the gov is pressured to create the macro environment to keep unemployment low.
 

Tourmaline

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I have never met someone who is not a millionaire and he is happy with his life.

I rest my case here.
I've met people in poor developing countries that lived off of $2000 or less a year and were quite happy.

Made me rethink my entire perspective. This dude who has nothing with basically no opportunity is utterly happy, while I was utterly depressed at the time while living the cushy life with in essence infinite opportunity.

Happiness is a choice, tied to perspective.
 

ChrisV

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I've met people in poor developing countries that lived off of $2000 or less a year and were quite happy.

Made me rethink my entire perspective. This dude who has nothing with basically no opportunity is utterly happy, while I was utterly depressed at the time while living the cushy life with in essence infinite opportunity.

Happiness is a choice, tied to perspective.
I think there are many factors that tie into happiness. Some internal, some external. I think of it as a Bio-Psycho-Social model:

70d477e4ca1b376d18f79ffa609130fc.jpg
 

Kevin88660

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I've met people in poor developing countries that lived off of $2000 or less a year and were quite happy.

Made me rethink my entire perspective. This dude who has nothing with basically no opportunity is utterly happy, while I was utterly depressed at the time while living the cushy life with in essence infinite opportunity.

Happiness is a choice, tied to perspective.
I would caution to draw the distinction between being happy and being blissful ignorant until SHTF.

I think in rare cases there are people who do not have a lot of money but they are keen saver and have calculated that they don't live a life in luxury. They are happy with their lives.

I think you can live a bachelor lifestyle in Thailand with 500k investment in a 4-5percent yield account. You don’t live like a king but you don’t have have to work a day. The interest and yield can take care of the expenses and additional private health insurance.

But even that cheap freedom you need half a million. Okay not a million.

There is no way around my head how you can have freedom without a million, and how you can have happiness without freedom.
 

Tourmaline

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I would caution to draw the distinction between being happy and being blissful ignorant until SHTF.

I think in rare cases there are people who do not have a lot of money but they are keen saver and have calculated that they don't live a life in luxury. They are happy with their lives.

I think you can live a bachelor lifestyle in Thailand with 500k investment in a 4-5percent yield account. You don’t live like a king but you don’t have have to work a day. The interest and yield can take care of the expenses and additional private health insurance.

But even that cheap freedom you need half a million. Okay not a million.

There is no way around my head how you can have freedom without a million, and how you can have happiness without freedom.
You can unhinge happiness from knowledge, from circumstances, from almost everything.

You can be happy just to be alive.

Happiness does not require freedom. Happiness does not require absence of pain. Happiness does not require pleasure. Happiness does not require meaning. Happiness does not require purpose. Happiness does not require fulfillment.

I think there are many factors that tie into happiness. Some internal, some external. I think of it as a Bio-Psycho-Social model:

View attachment 27491
Happiness can be made complex. It however does not have to be complex.

Rather the simpler one makes happiness, the easier it is to attain and sustain.

I like this biopsychosocial model for many things. But not for happiness really.
 

Kevin88660

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You can unhinge happiness from knowledge, from circumstances, from almost everything.

You can be happy just to be alive.

Happiness does not require freedom. Happiness does not require absence of pain. Happiness does not require pleasure. Happiness does not require meaning. Happiness does not require purpose. Happiness does not require fulfillment.
Is that sustainable? That is my question.
There is a saying “We can ignore reality, but we cannot ignore the consequences of ignoring reality.”
 

Tourmaline

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Yes it is sustainable. It is grounded in reality. The fact that you're alive.

And truly, what is a greater reality than that, that each of us can be absolutely sure about?
 

Kevin88660

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Yes it is sustainable. It is grounded in reality. The fact that you're alive.

And truly, what is a greater reality than that, that each of us can be absolutely sure about?
To me I stick to Maslow’s Hierarchy need which is very reliable model.
 

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