Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-14-2021, 03:11 AM   #101
Full time employment: Posting here.
teetee's Avatar
 
Join Date: Jul 2019
Posts: 639
Quote:
Originally Posted by Scuba View Post
I agree with the point about money making life a lot easier and providing more options, which leads to being happier. I love having enough resources so that we don’t have to worry when unexpected expenses come up. For example, the refrigerator in our rental condo died unexpectedly. We have a tenant there on a 2-year lease that is paying us substantial rent. Between COVID and other issues, appliances aren’t that easy to come by these days. I called a few places and after being told by Home Depot, Lowe’s and Best Buy that nothing could be delivered within the next 5 days, a specialty appliance store quoted us about $2,100 to replace our previous fridge, delivered and installed and hauling away the old one. Sold!

A long time ago, having an unexpected cost of over $2K would have meant something else would have to be cut. Now it’s just “oh well” without really worrying much about it. And in this case since time was more important than pride, I didn’t worry about trying to save $100 or $200 … we just did it. Really great to be able to do that without giving it a second thought.

Just a small example but for me, this type of financial security definitely makes me happy. I remember in college when I had to have a car to have a job, but all the money I made at my job went to fix my crappy used car that was the only car I could afford.
Sometimes it is difficult for me to explain the amount I spend versus my net worth.

Example: When I had nw of 33k, I was ok to have a $4k used car. Now with 1m, I am ok to have a $10k car, but while I used to be Ok to spend $8k a year on the essentials when I was relatively poor, now I can maintain spending less than $3k annually even without trying.

I think getting a more expensive transportation is a want - I want less hassle of dealing with car not passing the inspections.

My ability of spending less for essentials is likely from years of practice of decisions with mixed success and failures (I have a full storage of junk to prove) that now it becomes easier to make targeted purchase.

Sometime in my retirement I will have to practice the art of splurging. But now, being able to live like when I was at school makes me happy.
teetee is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-14-2021, 07:57 AM   #102
Recycles dryer sheets
 
Join Date: Jun 2017
Location: Punta del Este
Posts: 480
Quote:
Originally Posted by Car-Guy View Post
Well it certainly doesn't hurt IMO. YMMV


From my POV, it's something that just about everyone wants more of. Although I'll admit that I'd need 3 or 4 times my current NW to have any significant positive effect on my lifestyle at this point...
I feel exactly the same. My money has bought a very nice and comfortable life for my darling wife and I. More money would not make us happier. Busier perhaps but not really happier. Well a lot more might as there would be more luxury travel added!
Retired Expat is offline   Reply With Quote
Old 08-14-2021, 11:58 AM   #103
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 9,826
We have a decent amount of money, but I would say that having a lot more money would bring some increased happiness, but not in a linear fashion.
A simple example is we would fly first class, but don't do so currently.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 08-14-2021, 01:02 PM   #104
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 16,005
At 77 years old with a 76 year old DW who has a lot of medical issues, having more money would be nice, but we can't buy better health with it.

So if we had more, there would be just that much more to leave to the kids someday.
__________________
Everyone has a plan until they get punched in the mouth...philosopher Mike Tyson
aja8888 is offline   Reply With Quote
Old 08-14-2021, 01:30 PM   #105
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2008
Posts: 6,423
Quote:
Originally Posted by Dtail View Post
We have a decent amount of money, but I would say that having a lot more money would bring some increased happiness, but not in a linear fashion.
A simple example is we would fly first class, but don't do so currently.
I read somewhere that one of the sources of discontent or maybe antagonism is when people with coach tickets walk past first or business class.

We've all been on both sides of that.

In my case, sometimes I'm aggravated that I didn't get an upgrade.

Seinfeld episode had Elaine trying to sneak in while Jerry was shown getting services which don't exist, like custom ice cream sundaes.

In real life, you have some people trying to use the bathrooms up front or putting their carryon in a front cabin bin.
explanade is offline   Reply With Quote
Old 08-14-2021, 02:15 PM   #106
Full time employment: Posting here.
googily's Avatar
 
Join Date: Jul 2013
Posts: 775
Coming at it from the opposite side, having the money to do not have to worry about changing my lifestyle when DH died was huge. If I were scraping on top of that, I'd probably be pretty miserable, to lose both spouse and standard of living. The fact that I don't have a lot of terribly expensive pursuits so that I can pretty much buy or do whatever I want may not buy "happiness," but I do believe it allows a better level of contentedness.

Editing to add, well, maybe not "contentedness" per se, just the ability to continue onward without spending every day shaking my fist at fate.
googily is offline   Reply With Quote
Old 08-14-2021, 02:50 PM   #107
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 19,513
I might still be happy if I were poor, but I certainly don't intend to test that hypothesis
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Old 08-14-2021, 02:55 PM   #108
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 8,799
Quote:
Originally Posted by aja8888 View Post
At 77 years old with a 76 year old DW who has a lot of medical issues, having more money would be nice, but we can't buy better health with it.

So if we had more, there would be just that much more to leave to the kids someday.
One thing I do spend money on are functional medicine type tests that regular doctors and insurance won't cover. On my last round of blood tests with our conventional medical doctor, the only one that showed anything seriously out of range was the only one my doctor said insurance wouldn't cover!

I'm going to do all the different microbiome tests to see what they show, comprehensive nutritional testing, cancer biomarkers, and all the tests in the Breseden Alzheimer's prevention protocol. I've offered to pay for the same for our adult kids, too. The tests are all relatively non-invasive tests (just blood or poo samples), fairly inexpensive compared to needing conventional medical treatment or drugs, can't hurt and might help, so why not? Worst case I'm out a few grand per family member and best case we get healthier and avoid some chronic diseases.

Otherwise I tend to agree with you, it will just mean more money for our kids. There is a not a lot else I want or need, except except for some home improvements and we'll probably get new cars at some point with more modern safety features.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 08-14-2021, 03:06 PM   #109
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 8,799
Quote:
Originally Posted by Gumby View Post
I might still be happy if I were poor, but I certainly don't intend to test that hypothesis
I don't want to go back to being poor, however per brain wave studies, the happiest person found so far is a Buddhist monk - https://www.today.com/kindness/secre...est-man-t53146

I assume his order pays for the necessities of life so he doesn't have to worry about health care or food on the table.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 08-14-2021, 03:10 PM   #110
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 16,005
Quote:
Originally Posted by daylatedollarshort View Post
One thing I do spend money on are functional medicine type tests that regular doctors and insurance won't cover. On my last round of blood tests with our conventional medical doctor, the only one that showed anything seriously out of range was the only one my doctor said insurance wouldn't cover!

I'm going to do all the different microbiome tests to see what they show, comprehensive nutritional testing, cancer biomarkers, and all the tests in the Breseden Alzheimer's prevention protocol. I've offered to pay for the same for our adult kids, too. The tests are all relatively non-invasive tests (just blood or poo samples), fairly inexpensive compared to needing conventional medical treatment or drugs, can't hurt and might help, so why not? Worst case I'm out a few grand per family member and best case we get healthier and avoid some chronic diseases.

Otherwise I tend to agree with you, it will just mean more money for our kids. There is a not a lot else I want or need, except except for some home improvements and we'll probably get new cars at some point with more modern safety features.
Sounds good and I wish you good luck!

My DW is beyond any testing like that with advanced COPD and on oxygen 100% of the time. What will lengthen her life is a lung transplant, with at her age and weakened condition, the doc's won't consider doing.

Me, I have been blessed with great health and no meds needed. But I did have two hip replacements and that's another story! They actually helped my golf game imporove.
__________________
Everyone has a plan until they get punched in the mouth...philosopher Mike Tyson
aja8888 is offline   Reply With Quote
Old 08-14-2021, 04:50 PM   #111
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 8,799
Quote:
Originally Posted by aja8888 View Post
Sounds good and I wish you good luck!

My DW is beyond any testing like that with advanced COPD and on oxygen 100% of the time. What will lengthen her life is a lung transplant, with at her age and weakened condition, the doc's won't consider doing.

Me, I have been blessed with great health and no meds needed. But I did have two hip replacements and that's another story! They actually helped my golf game imporove.
Sorry to hear about your wife's health issues. You might find the following study of interest -

New Study Shows Link Between COPD and the Gut Microbiome - https://www.news-medical.net/news/20...icrobiome.aspx
"Research led by the Centenary Institute, the University of Technology Sydney and the University of Queensland has shown for the first time a link between chronic obstructive pulmonary disease (COPD), an often fatal lung condition, and the gut microbiome...In the study, the researchers compared the microbiome and metabolite profiles of stool samples from COPD patients with healthy individuals. Revealed were significant differences between the two groups....COPD patients exhibited increased levels of the bacteria Streptococcus and Lachnospiraceae in their stool samples. Also identified in individuals with COPD was a unique metabolite signature-formed by the chemical by-products of the metabolic process."

Full study here - https://www.nature.com/articles/s41467-020-19701-0
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 08-14-2021, 05:16 PM   #112
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 16,005
Quote:
Originally Posted by daylatedollarshort View Post
Sorry to hear about your wife's health issues. You might find the following study of interest -

New Study Shows Link Between COPD and the Gut Microbiome - https://www.news-medical.net/news/20...icrobiome.aspx
"Research led by the Centenary Institute, the University of Technology Sydney and the University of Queensland has shown for the first time a link between chronic obstructive pulmonary disease (COPD), an often fatal lung condition, and the gut microbiome...In the study, the researchers compared the microbiome and metabolite profiles of stool samples from COPD patients with healthy individuals. Revealed were significant differences between the two groups....COPD patients exhibited increased levels of the bacteria Streptococcus and Lachnospiraceae in their stool samples. Also identified in individuals with COPD was a unique metabolite signature-formed by the chemical by-products of the metabolic process."

Full study here - https://www.nature.com/articles/s41467-020-19701-0
Thanks, I read the study abstracts and they conclude that the gut microbes of a COPD patient on various medications are different than someone without COPD. There was no indications in the articles that the analysis has any bearing on treatment for the disease or any way to improve her condition, which is terminal in nature. We know that. But, thanks again for the links as I found them interesting to read.

According to her Doctor, DW has only a few more years given her condition and other complications that arise from the disease and the expensive medication (osteoporosis, progressive heart failure, others). We are doing all we can to extend what time is left for her, as everyone should be doing for themselves and their loved ones.
__________________
Everyone has a plan until they get punched in the mouth...philosopher Mike Tyson
aja8888 is offline   Reply With Quote
Old 08-14-2021, 06:21 PM   #113
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,933
Quote:
Originally Posted by Gumby View Post
I might still be happy if I were poor, but I certainly don't intend to test that hypothesis


In 28th year of ER, I bragged and felt smug in an early hard core year of 12k expenses and played 'The Four Yorkshiremen' many a time from this very forum. Now DW and I often spend over 10 times my 'cheap SOB all time best record'.

Heh heh heh - as mentioned, health is more of a concern than wealth as time marches on.
unclemick is offline   Reply With Quote
Old 08-14-2021, 06:44 PM   #114
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RobbieB's Avatar
 
Join Date: Mar 2016
Location: Central CA
Posts: 8,396
Money buys freedom from financial stress, ability to travel well, eat well, repair your dwelling, support your family, and help others.

Sounds like happy to me!
__________________
Retired at 59 in 2014. Should have done it sooner but I worried too much.
RobbieB is online now   Reply With Quote
Old 08-15-2021, 02:59 AM   #115
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ExFlyBoy5's Avatar
 
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,418
Quote:
Originally Posted by aja8888 View Post
Thanks, I read the study abstracts and they conclude that the gut microbes of a COPD patient on various medications are different than someone without COPD. There was no indications in the articles that the analysis has any bearing on treatment for the disease or any way to improve her condition, which is terminal in nature. We know that. But, thanks again for the links as I found them interesting to read.

According to her Doctor, DW has only a few more years given her condition and other complications that arise from the disease and the expensive medication (osteoporosis, progressive heart failure, others). We are doing all we can to extend what time is left for her, as everyone should be doing for themselves and their loved ones.
I am sorry to hear about your DW's prognosis. I lost both my Mom and Dad to COPD and it was nothing that I would want anyone to endure, but it is the 3rd leading cause of death in the US so many people will have to deal with it. Mom was a tough case because she also had dementia, so she really couldn't understand *why* should couldn't breathe. Dad understood and was accepting (until the last couple of days, but I think that was more from the comfort meds than anything).

The odd thing was Mom lasted much longer than they expected (she was in hospice for exactly a year; her prognosis at the time of admission was less than a month) whereas Dad only lasted a couple of weeks...when we thought we were getting him admitted much earlier (admitted as a technical term, they were both in-home).

COPD is an odd thing and I have read enough to know that it's one of the most difficult diseases to determine survival periods.

Sorry, for the ramble. I think it's a good reminder that we should all get the most out of our time as we can...it will all be over before we know it.
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
ExFlyBoy5 is offline   Reply With Quote
Old 08-15-2021, 06:59 AM   #116
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Location: Crownsville
Posts: 3,004
Quote:
Originally Posted by GenXguy View Post
Once I got above $50,000/yr income, my happiness didn't change that much. I was happiest when I made much less. And now I make six figures.

I feel pretty happy having money for the future and knowing I'll be able to support myself when I retire, but I'm not really happy spending money.
I can relate to that, although I wonder if part of it might be because I was younger then. I hit $50K/yr when I was 35, and back then retirement, old age, slowing down, and all that other stuff seemed so far away. It felt like I had all the time in the world.

Now I'm 51, and more in tune with the fact that even though I could still live a good, long time, I only have so many good years left. Also, in those intervening 16 years, I lost my last two grandparents, as well as all of the remaining relatives of their generation. Plus my Dad. And, just a few weeks ago, an uncle, one of Dad's brothers.

Dad has one brother left, who's now 81. He has a '51 Ford that he would take to classic car shows, and I'd run into him occasionally at some of them. But his health is now declining, and I think his classic car show days are over. That's a thought that kind of depresses me, as classic car shows are usually a pretty big part of my spring/summer/fall routine...and the knowledge that, one day, that part of my life could very well be put behind me.

I make almost double that now, but I wouldn't say I'm any happier because of it. I've never really been one to get that much enjoyment out of spending a lot of money though; I'd rather save/invest, and get to a point where I'm comfortable. And, once I'm at that comfort zone, more money isn't going to make me happier. I mean, I'll still take it, but it won't make me any happier!

Now, if I could go back in time to 2005 and see my salary almost doubled, it would have made me very happy. But now, if you almost doubled my current salary, I don't think it would change much. Except I'd put more of it away, and retire sooner. So I guess, in that sense, it would make me happy.
Andre1969 is offline   Reply With Quote
Old 08-15-2021, 07:11 AM   #117
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
street's Avatar
 
Join Date: Nov 2016
Posts: 6,939
Money makes my life easier so in a way, money does make for happiness. Also happiness is what we make out of life. Rich or poor there are people that won't be happy or are happy in their life.
street is offline   Reply With Quote
Old 08-15-2021, 07:32 AM   #118
gone traveling
 
Join Date: Jun 2008
Posts: 424
The more I research the USAs dollars inflationary processess & components the more I realize inflation seems an additional modified taxation - of sorts in the USA.

My understanding is now since all currencies inceptions, as in right now from GLD-Spain/France-1500s, SLVR-Britian-1700s, GLD-USA's flip floping on and of the GLD standard, or any & all FIAT currencies are at the lowest recorded interest rate enviroment internationally speaking since the pyramids were under construction.

Thats unprecedented & a long time! Thats my understanding anyway.
bolt is offline   Reply With Quote
Old 08-15-2021, 08:19 AM   #119
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2009
Posts: 6,313
Quote:
Originally Posted by GenXguy View Post
Once I got above $50,000/yr income, my happiness didn't change that much. I was happiest when I made much less. And now I make six figures.

I feel pretty happy having money for the future and knowing I'll be able to support myself when I retire, but I'm not really happy spending money.
As Andre1969 just wrote, I can relate to this, too. Twice toward the end of my 23-year career, I asked to work fewer hours per week, reducing my salary, in an effort to make myself happier. The first time I was at my earnings peak in 2001, making nearly $78k. I cut my hours by nearly half, so my salary dropped to just over $41k. It was still more than enough to cover my expenses because I paid off my mortgage 3 years earlier. What I gained, or regained, was control over my personal life. I had already lined up 2 activities to undertake with my added free time. And my despised commute had been reduced from 5 days a week to 1 day a week.

The second time was in 2007, as my ER plan was gaining momentum. By then, my commute had increased to 3 days a week, and I was hating every minute of it. My salary had risen to a hair under $50k, so reducing my weekly hours worked to 12 reduced my salary again, to about $30k. This made me somewhat happier but didn't really derail my ER plans, as I would ER 17 months later at the end of 2008. (It must have puzzled my boss, having an outlier like me always asking to earn less!) The $30k was still enough to pay my bills, of course, but not by much.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 08-15-2021, 09:21 PM   #120
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Koolau's Avatar
 
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 10,976
Quote:
Originally Posted by unclemick View Post


In 28th year of ER, I bragged and felt smug in an early hard core year of 12k expenses and played 'The Four Yorkshiremen' many a time from this very forum. Now DW and I often spend over 10 times my 'cheap SOB all time best record'.

Heh heh heh - as mentioned, health is more of a concern than wealth as time marches on.
Unfortunate but true. No. 2 on the list is planning what to do with the "excess" wealth when we pass on. Already told the kids that they'll get something to "remember" us by, but the bulk goes to charity. Making that happen has been problematic. Gives us something to do in our spare time.
__________________
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
If Money Doesn't Buy you Happiness, Then You Probably Aren't Spending It Right Major Tom FIRE and Money 20 04-28-2014 07:37 AM
Does money buy happiness? Wisdom from Ah-nold. jon-nyc Other topics 30 01-09-2013 09:41 AM
Happiness leads to success vs Success leads to happiness Midpack Other topics 4 02-06-2012 08:59 AM
Maybe Money Does Buy Happiness After All Wags Other topics 49 06-07-2008 07:43 PM
Money can't buy happiness: An Example retire@40 Other topics 12 09-11-2005 12:24 PM

» Quick Links

 
All times are GMT -6. The time now is 02:16 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.