Friday, October 08, 2010

Can Money Buy You Happiness?

A recent study suggesting that
happiness levels off after a household has reached $75,000 of income
raises a host of questions.
Courtesy of Carl Richards
(Don't miss Readers' Comments)
 
Posted by at

4 comments:

rex said...

Rex comments as follows,

In Singapore's context, incomes above the US$75,000 as mentioned in the article, buys something called escape-out-of-
singapore-totally, aka Emigration Approval to a safe haven in case Singapore collapses for whatever reasons. Any country will welcome you if you plonk 40 million dollars into their banks. "Business or Pleasure?". Pleasure! Oh in that case. WELCOME. Oh that was a great beer advertisement!!

That's why politicians appear to be very greedy asking for ridiculous salaries.

In my opinion, they're still happy with more than the 75K, happy to know that they can jump ship with their family when the need arises.

I form this pessimistic view because Singapore is so small, there is nothing you can do here on a private basis for a famed politician or famous businessman.

Therefore they do need several million dollars a year to be happy in the way i mentioned. I cannot think of any other sane reason, can you?

rex

October 08, 2010 1:16 PM
DareToAct said...

I'm not sure if the survey rightly captures the effect of more money on happiness. When one is poor, one thinks mainly of basic necessities and link them to money. One knows that if he has more money, his basic needs can be met, and he will be happy. So, naturally one can directly associate more money to more happiness. As one gets richer, the effect of money changes to a more subtle form. More money, for example, allows one to feel safer as one now has buffer (from poverty). One's happiness is derived from feeling safe, a second derivative, thus hiding direct link from money.

October 08, 2010 2:55 PM
hosingping said...

Sure money bring happiness buy what else.

October 08, 2010 3:34 PM
Singapore Plebian said...

I can relate to this topic.

I used to be caught up in the materialistic world and kept trying to keep up with the Joneses. I had all the trappings of this illusionary world. Car, condo, credit cards, clubs, etc.

I was never happy.

At best, each time something new was acquired (almost always with a corresponding amount of debt), I felt a momentary sense of "satisfaction" for want of a better word.

It was a fleeting feeling, the symptomatic result of what we know as instant gratification.

I never confused this momentary "high" as happiness.

Most people who don't have money, say that money will make them happy. Look at all the very rich people around you and look hard. Read their body language, observe their relationships. Most of them do not appear truly happy. Content maybe. Satisfied possibly. But not happy.

I know a billionaire here in Singapore. Their family has everything they could possibly want. But none of them smile. Something is always wrong. Fighting about something or another. Unhappy with this and that.

I lost all my material trappings. I was almost a bankrupt. Once I repaid all my debts, I tell you, I was really happy. And relieved.

Over the last couple of years, I've been learning the balance between earning a living and preparing for retirement versus being happy. It's a difficult balance and I am still struggling. However, I believe I had found the right path.

I earn a decent living, am saving slowly, and enjoy good relationships with people who are near and dear to me.

No Ferrari. No yacht. No big bungalow. But I have never been happier.

To sum it up, let's not confuse happiness with satisfaction and contentment. They are distinct feelings. Happiness is far more elusive than your first million dollars.

Keep well.

October 09, 2010 1:20 AM

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