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Old 02-09-2021, 11:45 AM   #21
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Good point. An unexpected $1000 would have put me on Cloud Nine back when I was starting out and fairly poor. Now that my circumstances have changed, it would barely be a blip on the radar for me.

I do speculate that at some point, the hassle of dealing with, investing, paying taxes on, and otherwise handling a bunch more money than what I presently have could become more of a hassle than it's worth. But I haven't got there QUITE yet....

It's true that $1K is not a big deal. You need to get a lot of them to make a difference.

I still like to make money, even though I have no immediate need for it.

Active investing is a fun pastime to me. Why, last year, I made $300K from collecting premium off options that I sold. This year, I already made $50K YTD. And these are in addition to the stock gains.

Call me scrooge, but I like to make money.

I already get my wife to agree that when international travel resumes, we will be flying business class exclusively. Other than that, I have no other plans for the money.
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Old 02-09-2021, 11:45 AM   #22
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Good point. An unexpected $1000 would have put me on Cloud Nine back when I was starting out and fairly poor. Now that my circumstances have changed, it would barely be a blip on the radar for me.

I do speculate that at some point, the hassle of dealing with, investing, paying taxes on, and otherwise handling a bunch more money than what I presently have could become more of a hassle than it's worth. But I haven't got there QUITE yet....
I remember when I opened a savings account by walking to the bank, because they gave out a free ski ticket that normally cost $10 back then.

Now I won't bother to do mouse clicks to open an account unless they give me $250 or more.

As for the hassle of more money, that is non-existant, just hire someone to do it for you, an actual reduction of hassle.
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Old 02-09-2021, 11:50 AM   #23
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Well OK then! You go first.

I'd rather just enjoy my fairly uneventful and mundane retirement, and nap every afternoon instead of spending any more time messing with financial stuff.

In order for that to happen I would need a Go Fund Me campaign from all the fine folks on here to raise another million or two to my accounts.
Thank you all in advance. I'm much happier already.
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Old 02-09-2021, 11:52 AM   #24
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There is definitely a point of diminishing returns based upon your lifestyle and financial situation.
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Old 02-09-2021, 11:53 AM   #25
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And while trying to beat last year's gain on the market, I spend a lot of time and effort to improve my DIY solar storage system, trying to see if I can reduce my power consumption off the grid by a few more kWh. Each kWh costs a few dimes at most.

See, I don't do everything for money. Some, I do for pure fun.
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Old 02-09-2021, 12:01 PM   #26
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There is definitely a point of diminishing returns based upon your lifestyle and financial situation.

It's because the cost of increased happiness grows exponentially as you get higher and higher.

Example: roundtrip coach airfare NY-London costs a few hundred dollars. Businessclass seat, a few thousand dollars. Next step up is chartered jet, which costs $145K for the same itinerary. Private jet? The sky is the limit.


PS. I hasten to add that for the $145K, you can fly 8 people. You can make your offsprings and your siblings very happy.

PPS. But then, you'd better have a small family, because if you leave out anyone, there will be much unhappiness and misery.

The info I posted was from here: https://www.privatefly.com/private-j...citypairs.html
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Old 02-09-2021, 12:04 PM   #27
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Money gives one more options. The more options one has, the more likely one will find those that make them happy. But it is not guaranteed.

There are also more than a few people who, no matter how much money they have, will be unhappy with the fact that someone, somewhere, who they think is not deserving, has more money than they do.
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Old 02-09-2021, 01:27 PM   #28
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Money can buy things that make you happier.

In preparation from ER, I moved from a city low-rise apartment building in a noisy neighborhood, to a gated community. We are now surrounded by trees, birds, butterflies, some slivers of ocean views, and have amazing star-filled nights. Every day, we have three meals on the front lanai, overlooking the pool, palm trees and ocean. I am very content with our new 'modest' home, and the only thing that would make me happier would be a similar home with an unobstructed ocean view. Feeling safe in the new environs helps with happiness, too.

$ by themselves don't buy happiness, but they can buy experiences, safety and security, and objects that give you pleasure. My retirement gift to myself was a new set of speakers for the home theater. They weren't cheap, but every time I fire them up, I really enjoy them!
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Old 02-09-2021, 06:43 PM   #29
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Being financially secure makes me happy. Funny...there were so many things I thought I would buy or do when we finally had money. We buy less now than when we were in the accumulation phase. We do splurge more now when dining out or traveling. It’s so nice not worrying about spending the $.
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Old 02-09-2021, 07:08 PM   #30
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I think “Happy” is a temporary emotion but “well-being” is more of a state of existence and way of life. Regardless, I felt a flood of both this morning at 8:30 when it was raining and I was holding my big orange, purring cat, while watching the cars zip by beating it to work.
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Old 02-09-2021, 07:11 PM   #31
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If I get a million dollars more .. I'd be happier
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Old 02-09-2021, 07:16 PM   #32
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I have always changed the "Money can't buy happiness" quote to "Money can't directly buy happiness, but it does make many of the things that make you unhappy go away."
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Old 02-09-2021, 07:20 PM   #33
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Being financially secure makes me happy. Funny...there were so many things I thought I would buy or do when we finally had money. We buy less now than when we were in the accumulation phase. We do splurge more now when dining out or traveling. It’s so nice not worrying about spending the $.
I completely agree with this. I think while working I was more willing to spend money to save time. But now I am willing to spend more time doing things I enjoy and this usually ends up saving money.
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Old 02-09-2021, 07:43 PM   #34
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money does not buy happiness but it does knock on opportunity's door. what you do with your $ when that knock is answered has a lot to so with happiness. for us? being uber generous is a major part of our happiness. we have more than enough 'things' to last.
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Old 02-09-2021, 07:52 PM   #35
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I have always changed the "Money can't buy happiness" quote to "Money can't directly buy happiness, but it does make many of the things that make you unhappy go away."

“While money can't buy happiness, it certainly lets you choose your own form of misery.” -- Groucho Marx

“Money can’t buy you happiness. It just helps you look for it in more places.” -- Milton Berle

“They say money can’t buy happiness. But it can sure as hell solve a lot of problems!” ― Robert Rolih

“You have to have enough before you can realize that more isn't going to make you much happier." -- Hank Green
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Old 02-09-2021, 07:54 PM   #36
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Money doesn't buy happiness, but improves the odds .
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Old 02-09-2021, 08:33 PM   #37
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Anyone that thinks more money will make them happy is financially blind. However, a lack of such money certainly can make one miserable.
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Old 02-09-2021, 08:56 PM   #38
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Money does not buy happiness, but can be used to ward off misery.

Some dumb people let their money invite more misery into their life.
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Old 02-09-2021, 09:35 PM   #39
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Always thought it's funny to assign numbers to feelings. Article says it's log based but I think I was twice as happy about money things at 1.3m over 1m.
I've been rich and I've been poor. I highly recommend being rich.
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Old 02-09-2021, 09:44 PM   #40
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Money in itself - if it just piles up and sits there is not going to make most people happy. You need to use it to actually buy yourself that happiness, whatever it means to you. In my case it's freedom to use my time how I see fit.

Interestingly, that all got upended by Covid. No amount of money will let me travel the way I used to: vagabonding across borders with barely any plan. So anecdotally, it's definitely true that more money (and my portfolio grew by by more than 30% last year) does not translate into more happiness.
Not quite - because even if you are sitting on the pile, it represents financial security. If I need to help a family member out, or have a sudden unexpected event that needs access to ready capital, I'm covered. That in itself reduces my everyday stress.

2020 was a good example of having a big cushion really helped. It just happened that DH and I made substantial gifts to siblings in Jan 2020. Boy - the timing couldn't have been better. It made me much less anxious for my siblings, because for two of them employment pretty much disappeared.
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