POSTED BY December 6, 2019 COMMENTS (21)ON
What does “more money” give you in life?
I asked this question on twitter a few days back and gave 3 options to choose from. Here are the results
What does “more money” gives you in life?
— JagoInvestor (@jagoinvestor_) November 11, 2019
A total of 120 people voted on the question and I got the answer somewhere on the lines of what I have always believed in.
A lot of people confuse “convenience” with “happiness” and hence believe that getting ultra-rich will make them very happy in life. They don’t realize that when they will get ultra-rich, they will be able to afford everything from nice house to amazing vacations, all the gadgets they want and fancy cars.
This all will make their life super easy and they will not be worrying about anything in life which can be bought with money.
But that’s not “happiness”, its “Convenience”
There are many books written on the topic of money and happiness and there is tons of research to conclude now that an increase in happiness you get out of having more and more money keeps diminishing over time.
So may be quite unhappy when you are poor because you are frustrated and have no idea where the next meal will come from.
Going from Rs 10,000 to Rs 1,00,000 (increase of 90,000) is very different than going from Rs 1,00,000 to 2,00,000.
Your life style will not drastically change if you earn 20 lacs a month instead of 6 lacs a month. But it surely is a big change from Rs 20,000 a month to 80,000 a month.
Out of 120 people who voted on my tweet, 76% people choose “more convenience” as their answer and only 12% choose “more happiness”. I am sure people who choose “more happiness” still need to see a good salary in life
I personally think that you surely need to aim to build great wealth and aim for huge income because more money will surely be better than less money in life. At least you have one less thing to worry in life and that is MONEY.
Around 12% people also voted for “more worries” as their answer. Money can also bring trouble in life at times, especially if you are not ready to share the fruits of wealth with others and if you have no idea how to extract happiness out of your money.
There are many examples on earth where people have done suicide and gone mad while their bank accounts had millions. Remember that unhappiness can come from various sources like relationships, health, how you feel about yourself, family issues and money.
Please share your thoughts about “What does more money give you in life?”.
Let me make it clear that above points are my personal thoughts about money and I accept that different people have a different experience in life which shapes their relationship with money. I would love to see how people think about this topic.
Jagoinvestor is an initiative towards creating happy investors who take prudent and right financial decisions in their life.
Can you spend 5 min of your time to help in a study on the topic of “Robo-Advisory”
Here is the list of some of our best content.