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>So how much money do you think is enough to be satisfied with one's life? A very difficult question, there are so many variables and you know for sure the val
by jaclaz 5y ago
>So how much money do you think is enough to be satisfied with one's life?
A very difficult question, there are so many variables and you know for sure the value of only one or two.
I like to play it differently in times current life cost/income.
Let's say you have a net yearly income of 100,000 US$, depending on where you live that may be "slightly more than average" or "well off" (in the sense that you are not anywhere near the poverty line).
Provided that there is no inflation, that your income is stable, and that it doesn't change when you retire and that you are 25 years old and single.
Over the course of the 60 years you have before you eventually die, you will get 6,000,000 US$.
Now, let me (hypothetically) double that.
Suddenly you have 200,000 US$/year.
What you would do (probably) is to get a more expensive car and move to a larger/better house.
Let's double it again, 400,000 US$/year, you can buy another car, move to a yet larger house, maybe hire some domestic full-time, then you might want to marry and hopefully have a couple sons.
Let's double it again, 800,000 US$/year, what can you do more, sure, a seaside or mountain villa, a couple more nice cars, and a boat, then what?
Let's double it again, 1,600,000 US$/year, that's it, you cannot think anymore how to spend or use that kind of money.
We are between the 2^3 and the 2^4 times what your current normal life income and costs are, beyond that point you will simply be not capable of using/spending it (without throwing it out of the window, mis-investing it in futile endeavours [0], or giving it away).
So the upper limit is 2^3 or 8 times what you make now, guaranteed for the rest of your life, in this example, the most is 48,000,000, what will you do with the 250,000,000 "excess"?
In the real world, 2^1 or 2^2 are already much more than enough.
[0] considering that if by any chance you are successful, the end product will be more money, which is what you don't know what to do with by now