The Prosperity Paradox: Why You're Already Filthy Rich...

[MJ DeMarco]

A really great take on prosperity today VS prosperity a century ago.

TLDW: Even if you're poor by American standards, you're filthy rich. You live better than Andrew Carnegie did in the early 1900s.

@Kak you would enjoy -- while he doesn't overtly "thank" capitalism, it is alluded.

View: https://www.youtube.com/watch?v=9T4UfXxYvqs

 

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[Kak]

A really great take on prosperity today VS prosperity a century ago.

TLDW: Even if you're poor by American standards, you're filthy rich. You live better than Andrew Carnegie did in the early 1900s.

@Kak you would enjoy -- while he doesn't overtly "thank" capitalism, it is alluded.

View: https://www.youtube.com/watch?v=9T4UfXxYvqs

Dude you just gave me a home run show. This is awesome.

 

[MTF]

I never understand this claim that people judge how rich they are in comparison to other people. To me, it sounds like complete bullshit.

If you live in a place where a good lifestyle costs you $50k a year and you make $100k but your neighbor $120k, are you really going to consider yourself poor? If so, you're an idiot who deserves to be unhappy.

By the way, this video shows well how out of touch most Americans are. I don't mean it as an insult but more as an observation how ignorant people in the US are about how ridiculously good they have it.

An average household size of 2,800 sq feet in the US is completely NUTS compared to Europe.

In Poland, an average apartment size is 61.5 sq meters which is 662 sq feet. And that's where families of four, maybe even five people live. Yes, an over FOUR TIMES smaller apartment for an entire family, not two people.

An average house size (and keep in mind that the vast majority of people don't live in houses) is 137 sq meters which is 1,474 sq feet. And I'd say this is like maybe 5% of the population, people who really succeeded financially.

The same applies to prices of land. When I see prices of land in the US some people post on this forum I can't believe how cheap it is. You can buy land that's the equivalent of a small European town for pennies. Meanwhile, in Europe in most places you probably won't even be able to find such a large plot of land, and if you do, you'll never be able to afford it (a developer will buy it and build hundreds of houses there).

I also remember people complaining in another thread about gas prices in the US. I saw that the average for regular gasoline is $3.837 per gallon now so $1.01 per liter. That's for a country with average income per capita at $74,725.

In Poland, average price for regular gasoline (95) is now $1.31. And that's for a country with income per capita at $40,341. So in other words, gas is two times more expensive here (and have always been way more expensive than in the US). Yet, people in the US complain how they can't afford gas lol.

The same applies to cars. In the US, people spend on average $47,000 on a new car. In Poland, people spend on average $30,759 on a new car (and no, it won't be a giant pick-up but more like a middle class compact SUV). So again, cars are twice as expensive here and so is gas. And few people buy new cars because they're just too expensive.

Tell me again how poor you are because you have to live in a tiny, 2800 sq ft house on a few acres of land and change your luxury pick-up every three years...

I could post countless examples here but I rest my case.

If you're on this forum regularly (let alone if you're from the US, Canada or Western Europe), you're probably one of the richest guys on the planet. Be very, very grateful for it because regular existence for most people in the world is incomparably worse.

 

[Antifragile]

@MTF
The reference point for most in North America is 1950s. Post WW2 USA was a true land of opportunity. Next and then next generation has it a little worse. We all live in our own little bubble. And compared to other wealthy people in our bubble, some feel poor. It’s wrong, but to tell someone to feel differently is also hard. It’s a realization one has to come to on their own.

 

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[Kak]

If you live in a place where a good lifestyle costs you $50k a year and you make $100k but your neighbor $120k, are you really going to consider yourself poor? If so, you're an idiot who deserves to be unhappy.

100% agree, but the world doesn't think like you. We live in an EXTREMELY jealous world. Just because we have a hard time stepping into the mind of these assholes, doesn't mean that they don't exist.

Let's also not conflate standard of living created by entrepreneurs... And our disdain for American political tides. I love what made America and I hate what's tearing it down.

Now excuse me while I happily go 3/4 ton luxury pickup shopping in our "American oil crisis" and scope out a few hundred acres. YEEEEEEEHAWWWW

 

[Antifragile]

Just because we have a hard time stepping into the mind of these assholes, doesn't mean that they don't exist.

I will go a step further @Kak and admit that we are those assholes.

We all feel jealous of other people's success from time to time. It's a natural reaction, and it's something that we all fall for from time to time. After all, when we see someone else achieving great things, it can be tough not to feel a little bit inferior.

But what many of us don't realize is that this sense of inferiority is a trap. It's something that psychology has identified as a common human tendency, and it's something that can hold us back from achieving our own goals.

So what can we do to avoid this trap? Well, the first step is to recognize that being jealous of other people's success doesn't make us any less successful. In fact, it's quite the opposite. It's only when we compare ourselves to others that we start to feel inferior.

So rather than comparing ourselves to others, we should focus on our own strengths and achievements. We should celebrate our own successes, rather than feeling envious of others.

Of course, this isn't always easy to do. But with a bit of practice, we can learn to be happy for other people's successes, rather than feeling jealous of them. And when we do this, we'll start to feel a lot more successful ourselves.

So next time you start to feel jealous of someone else's success, remember that you're just falling for a common trap. Focus on your own strengths, and celebrate your own successes. You'll start to feel a lot more successful in no time at all.

 

[MJ DeMarco]

I will go a step further @Kak and admit that we are those assholes.

We all feel jealous of other people's success from time to time. It's a natural reaction, and it's something that we all fall for from time to time. After all, when we see someone else achieving great things, it can be tough not to feel a little bit inferior.

But what many of us don't realize is that this sense of inferiority is a trap. It's something that psychology has identified as a common human tendency, and it's something that can hold us back from achieving our own goals.

So what can we do to avoid this trap? Well, the first step is to recognize that being jealous of other people's success doesn't make us any less successful. In fact, it's quite the opposite. It's only when we compare ourselves to others that we start to feel inferior.

So rather than comparing ourselves to others, we should focus on our own strengths and achievements. We should celebrate our own successes, rather than feeling envious of others.

Of course, this isn't always easy to do. But with a bit of practice, we can learn to be happy for other people's successes, rather than feeling jealous of them. And when we do this, we'll start to feel a lot more successful ourselves.

So next time you start to feel jealous of someone else's success, remember that you're just falling for a common trap. Focus on your own strengths, and celebrate your own successes. You'll start to feel a lot more successful in no time at all.

 

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[natashaquinn88]

A really great take on prosperity today VS prosperity a century ago.

TLDW: Even if you're poor by American standards, you're filthy rich. You live better than Andrew Carnegie did in the early 1900s.

@Kak you would enjoy -- while he doesn't overtly "thank" capitalism, it is alluded.

View: https://www.youtube.com/watch?v=9T4UfXxYvqs

Such a great video to keep things in perspective. Better to be grateful for what we have then to be disappointed by what we don’t have. Some of the poorest people are the happiest because they are rich in family, freedom and fitness. Thanks for sharing.

 

[p0stscript]

If you're on this forum regularly (let alone if you're from the US, Canada or Western Europe), you're probably one of the richest guys on the planet. Be very, very grateful for it because regular existence for most people in the world is incomparably worse.

Attitude of gratitude it is...

So rather than comparing ourselves to others, we should focus on our own strengths and achievements. We should celebrate our own successes, rather than feeling envious of others.

Agree, although not always easy, it is doable.

 

[ZackerySprague]

One thing that I had trouble with was Lifestyle Inflation, instead of comparing myself to another person and what they have. I would increase my lifestyle based on my level of income.

But now I no longer have this problem. When I think about what I have today, I am grateful that I am able to live on my own, have a car, and have food on my table. It could be much worse, but the United States has access to clean running water and a lot of opportunities than what other countries have citizens wise. Meaning running water, food, shelter, etc.

Some of my family members (some of them are toxic because they like to compare themselves to me, some of them want the life that I have or the amount of money I make because they don't like their situation) believe that I am not thankful for my job and the things that I have. I tell them, no I do, I am very thankful for what I have. I just believe that you have no security when working a job if something goes sideways. So everything that you have built and come crumbling down at a moment's notice.

There have been some situations where I almost lost my place to live and that's a scary thought, it's within those moments, that you value/appreciate the little things in life and what you have when those moments occur.

 

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[RoadTrip]

An average household size of 2,800 sq feet in the US is completely NUTS compared to Europe.

In Poland, an average apartment size is 61.5 sq meters which is 662 sq feet. And that's where families of four, maybe even five people live. Yes, an over FOUR TIMES smaller apartment for an entire family, not two people.

Yes, you entirely right about this. It also crossed my mind many times how big of a difference there is in home sizes between USA/Canada/Australia and the rest of the world.

But I see many advantages for our setup (I'm living in The Netherlands):

1. I can easily reach any part of the city by bicycle. Meaning free transportation and exercise at the same time. I hate cycling through rain and wind though.
2. Everything is nearby: I have supermarkets, restaurants, playgrounds, schools, tennis courts, etc. all within a 10 minute walk
3. We have amazing public transportation which is possible because population density is high
4. Our country is tiny compared to other countries. But we have almost everything you need for a weekend away: amusement parcs, lakes, beaches, holiday parcs, nice cities, nature. All within 2.5 hours drive. And whatever is lacking here is available elsewhere in Europe.

A few weeks ago I found a short documentary about the problems of the suburbanization of the USA. Road maintenance costs are high and there is no alternative to cars. It's becoming more of a problem these days because when the suburbs where built the infrastructure cost was calculated into the project cost.

In Poland, average price for regular gasoline (95) is now $1.31. And that's for a country with income per capita at $40,341. So in other words, gas is two times more expensive here (and have always been way more expensive than in the US). Yet, people in the US complain how they can't afford gas lol.

As of today 1 liter of regular gasoline (95) costs €2.23 in the Netherlands. Average income per capita is $41,530. It's crazy how expensive gasoline has become. Especially since the war started.

 

[biophase]

We all feel jealous of other people's success from time to time. It's a natural reaction, and it's something that we all fall for from time to time. After all, when we see someone else achieving great things, it can be tough not to feel a little bit inferior.

The first time I felt this was when they graded college tests on a curve. If you got 60 and some kid got a 100 you failed.

But if the highest score from the whole class was 70, you got a B.

What an awesome way to make you hate people who studied and did well!

 

[BaiAnrui]

Want to see how much wealth we have....

Check this awesome site 'Dollar Street' from Gapminder. Where are in the top % of the world...never forget that!!

https://www.gapminder.org/dollar-street?lng=nl

example...look at the sort of beds we sleep in (income per month)

 

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[Two Dog]

I never understand this claim that people judge how rich they are in comparison to other people. To me, it sounds like complete bullshit.

Comparing yourself to others seems to be a genetic trait. It applies to money along with every other imaginable thing.

What I've never understood is why the comparisons are *always* with people who have more than you. Not many people spend time thinking "Well, I made $60,000 last year which puts me in the top .00001% of the entire global population since the beginning of time."

The weird part is no one - well hardly anyone hopefully - spends time thinking "Oh, my life sucks because I can't outrun an NFL wide receiver." I think the financial comparisons are universal and others are just niche comparisons based on personal interests.

 

[Guest-5ty5s4]

Comparing yourself to others seems to be a genetic trait. It applies to money along with every other imaginable thing.

What I've never understood is why the comparisons are *always* with people who have more than you. Not many people spend time thinking "Well, I made $60,000 last year which puts me in the top .00001% of the entire global population since the beginning of time."

The weird part is no one - well hardly anyone hopefully - spends time thinking "Oh, my life sucks because I can't outrun an NFL wide receiver." I think the financial comparisons are universal and others are just niche comparisons based on personal interests.

my grandfather - pretty successful biz owner - always repeats this phrase:
"we are all so lucky to live where we live, when we live, and how we live." And it's true.

The where may vary, the how will most certainly vary, but the when is the same for all of us.

Calvin Coolidge was president of the United States and his son died from a scrape on the knee.

 

[Two Dog]

Great video. Thanks for posting it, MJ.

This has been an ongoing topic of discussion with my two young girls for the last few years. As a middle aged man, I've been finding more - probably most - of my "major" life problems nowadays can't be solved with money. Chronic back pain, dog dying of liver cirrhosis, zero ability to memorize sheet music, friends dying, etc. I expect that trend will only continue with more living.

Our family spends a lot of time on being grateful, but I'm now realizing not nearly enough on helping out others.

 

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[Zwelethu]

I just think that people want more, more of everything, especially money. The wealth gap keeps rising and that makes people anxious as only a few get all the money. There is a certain level when money is not needed, the money can pay you your salary, that's the level I want to be. I care less about my neighbour he can make more or less but I know that what counts here is my plan and scorecard, am I moving on with my goals or not.

 

[Kingsman]

What you guys have said so far I right in many different ways because I live in Nigeria and boy, it's freaking hard to do things here but the truth is people are still buying cars even in the hardship so it's understandable why ppl might feel jealous.
I can guarantee you that most Americans are millionaires in my country and over her we worship the iPhone because it represents financial freedom,it costs in reality almost 300,000 dollars if we were using a 1:1 exchange rate just to give you an idea of how skewed my country is and that's not to talk about houses and cars but ppl are hitting it big and so I always look up to them and MJ DeMarco to push myself to my goals

 

[AdamUK]

What you guys have said so far I right in many different ways because I live in Nigeria and boy, it's freaking hard to do things here but the truth is people are still buying cars even in the hardship so it's understandable why ppl might feel jealous.
I can guarantee you that most Americans are millionaires in my country and over her we worship the iPhone because it represents financial freedom,it costs in reality almost 300,000 dollars if we were using a 1:1 exchange rate just to give you an idea of how skewed my country is and that's not to talk about houses and cars but ppl are hitting it big and so I always look up to them and MJ DeMarco to push myself to my goals

Interesting perspective and similar to my family who live in Zimbabwe view on their friends and family who live in UK, US.

 

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[WJK]

A really great take on prosperity today VS prosperity a century ago.

TLDW: Even if you're poor by American standards, you're filthy rich. You live better than Andrew Carnegie did in the early 1900s.

@Kak you would enjoy -- while he doesn't overtly "thank" capitalism, it is alluded.

View: https://www.youtube.com/watch?v=9T4UfXxYvqs

I agree. I live like a queen today. I vowed I wasn't going to live as I grew up. And I don't. I am very blessed to have a warm, comfortable home. I don't have to compare myself to others. I just have to remember where I came from.

My dad had a talent. He bought houses with no working bathrooms and no heat. He built the "new" bathroom for us when he got around to it. And it seemed that the pipes in those new bathrooms froze and broke in the winter. So it took him until mid-summer to get things up and working again. I could see my breath in the cold air when I woke up in the mornings. I was grown and gone by the time my parents got a good heating system in the last house where we lived. Our situation was common for that time and place. But, we were uncomfortable most of the time.

I've had a lot of people ask why I've worked so hard all my life. I sure don't want to go back to where I started!