4 ms·

The problem is that the equation “money == happiness” lacks a proof.

by voidhorse 4y ago

bandyaboot 4y ago
At best the two are correlated up to a fairly low income level. After that there’s virtually no correlation at all.
- pizzathyme 4y ago
  I used to think this until I made a career change that moved me from the top 10% earners to the top 1%. I am much, much happier, on a daily and multi year basis. Less stress, less worry, more optimistic.
  - bandyaboot 4y ago
    n=1. The science has been done on this and as far as I know, the results have been pretty consistent and have held up so far.(edit: turns out that's incorrect--there have been contradictory results released in the last couple years) My household is in higher single digit top percentage range and I'm not even sure whether or not I think moving to the top percent would make me happier. In the name of science I will be talking with my boss on Monday.
- orangecat 4y ago
  There's a widespread belief that money stops being correlated with happiness at around $75k/year, but that's likely incorrect: https://www.eurekalert.org/news-releases/624186 https://www.eurekalert.org/news-releases/624186
  - bandyaboot 4y ago
    That’s interesting, I recently started listening to a podcast about this subject which started in 2019. Didn’t know there had been contradictory results released since then. The implications of the differences in methodologies is pretty interesting itself.
josephg 4y ago
I’m an Australian who spent a few years in the Bay Area at a startup. It’s pretty clear to me that the idea that your life will be better when you’re successful / rich is a cultural belief. You don’t look for proof for things everyone in your community believes. I currently live in Melbourne. My bubble’s equivalent myth is around being creative. If you don’t make art or get involved in hobbies, why not? What’s gone wrong that makes you so boring? None of my friends here obsess about money, or work harder than they need to at their day jobs. When we socialise we talk about comedy shows we’ve seen and things like that. There’s hundreds of examples of these cultural beliefs once you start looking. Eg, gender roles, when it’s appropriate to lie, the expected stages of relationships, the importance of money, etc etc. The best way to notice this stuff in ourselves is by travelling. Spending serious time in other countries is good for the soul.
- dalyons 4y ago
  In Melbourne, with some of the highest property and rent price / income in the world? My friends there are firmly stuck in the rat race. Melbourne has become money obsessed too, not as bad as SF/SV, but sadly getting that way due to the insane housing costs and creeping American individualism. But it’s weirdly even more classist - you either have parents to help you out with a home loan, or you don’t, and if not you don’t get to care about being creative (long term) because you can’t afford it.
  - josephg 4y ago
    I think it really depends on your social group. I met a lot of my friends here from doing improv classes and things like that. I'm sure if I worked a 9-5 job and made friends there my social network would be quite different. After living in SF and Sydney, Melbourne still feels crazy cheap to me. And property prices are set to drop another 15% over the next 18 months[1]. [1] https://www.news.com.au/finance/real-estate/buying/australian-real-estate-house-prices-to-drop-by-as-much-as-15-in-next-18-months/news-story/96163e77b625161fd4281d16bd5b8eee https://www.news.com.au/finance/real-estate/buying/australia...
    - 4y ago
alecfreudenberg 4y ago
Also despite what people may say, it does not appear that "happiness == what people want" once it's all they have

The problem is that the equation “money == happiness” lacks a proof.

bandyaboot 4y ago

At best the two are correlated up to a fairly low income level. After that there’s virtually no correlation at all.

pizzathyme 4y ago
I used to think this until I made a career change that moved me from the top 10% earners to the top 1%. I am much, much happier, on a daily and multi year basis. Less stress, less worry, more optimistic.
- bandyaboot 4y ago
  n=1. The science has been done on this and as far as I know, the results have been pretty consistent and have held up so far.(edit: turns out that's incorrect--there have been contradictory results released in the last couple years) My household is in higher single digit top percentage range and I'm not even sure whether or not I think moving to the top percent would make me happier. In the name of science I will be talking with my boss on Monday.
orangecat 4y ago
There's a widespread belief that money stops being correlated with happiness at around $75k/year, but that's likely incorrect: https://www.eurekalert.org/news-releases/624186 https://www.eurekalert.org/news-releases/624186
- bandyaboot 4y ago
  That’s interesting, I recently started listening to a podcast about this subject which started in 2019. Didn’t know there had been contradictory results released since then. The implications of the differences in methodologies is pretty interesting itself.

josephg 4y ago

I’m an Australian who spent a few years in the Bay Area at a startup. It’s pretty clear to me that the idea that your life will be better when you’re successful / rich is a cultural belief. You don’t look for proof for things everyone in your community believes. I currently live in Melbourne. My bubble’s equivalent myth is around being creative. If you don’t make art or get involved in hobbies, why not? What’s gone wrong that makes you so boring? None of my friends here obsess about money, or work harder than they need to at their day jobs. When we socialise we talk about comedy shows we’ve seen and things like that. There’s hundreds of examples of these cultural beliefs once you start looking. Eg, gender roles, when it’s appropriate to lie, the expected stages of relationships, the importance of money, etc etc. The best way to notice this stuff in ourselves is by travelling. Spending serious time in other countries is good for the soul.

dalyons 4y ago
In Melbourne, with some of the highest property and rent price / income in the world? My friends there are firmly stuck in the rat race. Melbourne has become money obsessed too, not as bad as SF/SV, but sadly getting that way due to the insane housing costs and creeping American individualism. But it’s weirdly even more classist - you either have parents to help you out with a home loan, or you don’t, and if not you don’t get to care about being creative (long term) because you can’t afford it.
- josephg 4y ago
  I think it really depends on your social group. I met a lot of my friends here from doing improv classes and things like that. I'm sure if I worked a 9-5 job and made friends there my social network would be quite different. After living in SF and Sydney, Melbourne still feels crazy cheap to me. And property prices are set to drop another 15% over the next 18 months[1]. [1] https://www.news.com.au/finance/real-estate/buying/australian-real-estate-house-prices-to-drop-by-as-much-as-15-in-next-18-months/news-story/96163e77b625161fd4281d16bd5b8eee https://www.news.com.au/finance/real-estate/buying/australia...
  - 4y ago

alecfreudenberg 4y ago

Also despite what people may say, it does not appear that "happiness == what people want" once it's all they have