<p>I am not talking about society’s problems. </p>
<p>Our society has moved from society 's problems to what is good or bad for individuals.</p>
<p>Here is one thing to think about. The Fed’s policies are to devalue of the dollar in half every 36 years.</p>
<p>So… Let’s say I have 2 million and I am going to retire and I want to live on that money. After 36 years, I have to have $4 million to be even. </p>
<p>And if inflation is 3 percent compounded instead over 36 years, you are going to need over 5.5 million. That is to stay in the same position as you were 36 years earlier.</p>
<p>Genetally, People don’t like to go down in wealth or status . </p>
<p>“But that comes back to the point at the beginning – while the top 1% have done well financially, they can “feel poor” if they look at the top 0.1% and 0.01% who have done much better financially”</p>
<p>And that’s when they need to get a grip, already. It’s just an ugly way of thinking … oh, boo hoo, I live nicer than 99% of Americans but not as nice as the multi-billionaires. </p>
<p>“And that’s when they need to get a grip, already. It’s just an ugly way of thinking … oh, boo hoo, I live nicer than 99% of Americans but not as nice as the multi-billionaires.”</p>
<p>Give me a break, that’s a bogus argument. Name one single person you know who thinks that way. Not a fictitious person, but a real one.</p>
<p>Not necessarily. 1% may also be unhappy because $1 they made when they were in 20% means less now at 1%. The value of money plateaued out with their success and they need something else to feel fulfilled.</p>
<p>Anyway, going back basics. If you make 200K, lose 100K to taxes, deductions, and the cost of being in the place to do your job, and Harvard takes away 60K of the remaining, then with your remaining 40K you have a right to feel not rich. Without guiltily comparing yourself to starving people (foreign or domestic). And without the need to correct yourself with thought that being in a wheelchair would be worse.</p>
<p>Sorghum, to me remembering It Could Always Be Worse is a way to pull out of the doldrums and downward spiral. The thought of smell the roses. notice the good stuff. If one prefers to be dour that is always their prerogative, but I don’t know that it’s going to help them a whole lot.</p>
<p>But is confessing to “rich” really mandatory? Not "I’m doing pretty well, and am happy and healthy, but this Harvard thing is a bit of a cash flow problem, so I can’t honestly feel ‘rich’ "?.</p>
<p>From what I can tell, people aren’t saying that to make people feel better. “Shut up, stop whining, it could be worse and you have it so much better than others”, isn’t being comforting.</p>
<p>Igloo, with that $200K income, you don’t have just federal taxes. You have state taxes, Medicare taxes, SS taxes. Add whatever deductions there are for health insurance, disability insurance, etc, and you could see far less.</p>
<p>^dstark, in his first post on this thread. People can describe the same situation or events in different ways, and all be more or less correct. Some folks seem to have more of an inborn propensity to be satisfied or even happy with their circumstances. Others work to achieve that state of being. Still others seem to believe dissatisfaction is what makes the world go. imho</p>
<p>But someone saying that they don’t feel rich isn’t being dissatisfied. A person can feel very happy and satisfied, but not feel as if they are wealthy. People merely have different definitions of what rich is. You don’t have to feel like you’re rich to be satisfied, it’s a completely different issue.</p>
<p>I agree with this. I actually don’t know what being wealthy has to do with feeling happy and satisfied anyway. The least happy, most dissatisfied people I have ever known are actually quite wealthy. And they know that money isn’t going to make them happy, for a fact, and they don’t even know what will.</p>
<p>To be clear, this being CC, I am NOT saying wealthy people are unhappy and disatisfied. I am saying that the most unhappy people I know are wealthy. The happiest people I know, personally, are upper middle class. I think those studies are really spot on when they say anything above 160K or so doesn’t really increase happiness (that was the # around 2010 when they were researching this), I just say upper middle class.</p>
<p>@DeborahT is right. The research shows that the absolute most important thing for happiness in life is a sense of meaning.</p>
<p>For me, part of happiness is not worrying about money. Those with too little for basic needs will have a difficult time not worrying about money. Those from certain types of backgrounds may never be able to stop that worrying. Some seem to thrive on that worry. I don’t really define rich as a dollar amount. I’m not really sure what the thread is about.</p>
<p>Alh, I kind of forgot what the thread is about too. :)</p>
<p>Are we talking financial satisfaction specifically or satisfaction about life? </p>
<p>To use numbers to define whether somebody is rich or not is tricky. There are people that have a lot of income, but if they lose their jobs tomorrow, they are not rich. </p>
<p>Some people would say they are rich as long as they work. If they stop working, they are no longer rich.</p>
<p>Being rich is not a lifetime guarantee. We all know stories about people who were rich at one time and are no longer rich.</p>
<p>Is there a new definition of risk? You are only rich if you will be rich under all circumstances?</p>
<p>Why are people uncomfortable calling themselves rich?</p>
<p>This thread does not make me feel good about my financial condition. I do not want other people’s angsts. :)</p>
<p>Sorghum - no, but understand the “cash flow problem” of paying for Harvard is a) caused by noticing and long up to your peers (but I HAVE to live in Short Hills!) and b) still a hell of a lot better place to be than the average person. </p>
<p>Alh, I do love your post. I agree with this.</p>
<p>“Some folks seem to have more of an inborn propensity to be satisfied or even happy with their circumstances. Others work to achieve that state of being. Still others seem to believe dissatisfaction is what makes the world go.”</p>
<p>In real life, I find that those that have this need to be dissatisfied are not that pleasant to be around.</p>