I do well for myself but I strive to do better. I don't spend weeks away from my common law wife for the glory of saying I fix problems in the oil patch. I bought a house at 22, have a sweet truck, trailer, toys as well as a shit load of guns and tools. I thought all that material bullshit mattered by showing off "status" but now I'm swinging the other way; I just want to provide a nice life for my family, be able to afford some of the finer things in life and actually be home to enjoy my family. Pretty much be comfortable but not fuck you rich. I'm going to keep filling the mattress for a couple of more years and come home for good and hopefully start a corporation of some sort. Have three or four small businesses going so if one takes a shit I don't have to kill myself so my family can get my life insurance check.
Here is the study that i was referring to, and the most recent that I have seen. Keep in mind that I haven't evaluated the research or assessed the validity. It's on Huffington Post, so loses some accuracy points right there. But i can see how there overall viewpoint would apply. Basically once you don't spend your time obsessing about how to pay your bills,there is very little benefit from figuring how you can buy your next Rolex in terms off overall happiness. <a class="postlink" href="http://www.huffingtonpost.com/2014/07/17/map-happiness-benchmark_n_5592194.html" onclick="window.open(this.href);return false;">http://www.huffingtonpost.com/2014/07/1 ... 92194.html</a>
I wouldn't say there's a definitive break-even point, but there's definitely diminishing returns on happiness. One million May make you happy, but another million not as much, and so on.
When you grow up in a "working poor" family, basically one small step from trailer trash, and you learn to move at midnight to skip rent, and spend time living with your grand parents and uncles in really lean times, and skip the occasional meal, the American Dream looks pretty damn good. I needed a secret clearance when I was about 21. Part of the deal was a questionnaire where you had to list every address you had lived at and every school you ever attended. With my mother's help, I was able to come up with 45 addresses we had lived at. We couldn't find the info on a few more so we fudged on some of the move dates. Yes, I got the clearance. On the other hand, when, like our daughter, who grow up in suburbia, in a nice home, the only home you've ever known, with your own bedroom, and the refrigerator is always full, and your parents are paying your college tuition and room and board, the American Dream is just the boring norm. Despite her being aware that her mother and I had worked our way through school, she was actually shocked when a few of her college buddies had to drop out for lack of funding or just weren't available to party due to their school/homework/employment schedule. Good wakeup call that. As it happens, my wife and I make pretty good money. But, my emphasis was never on getting rich, but has always been on being debt free, but for a (not under water) mortgage, and saving for retirement, as well as travel and, of course, that inevitable rainy day. No, it doesn't solve all your problems, and neither would oodles more money. But it sure beats the hell out of wondering where your next meal is coming from or how you can afford seeing a doctor. Money is a tool, not an end in itself.
I agree with this. Cause that way it allows flexibility for location and lifestage. The earnings and wealth in relation to friends is an interesting quandary as well. I spent the first 3-4 years out of college making MUCH less than my friends. And we were all similar academically from the same business organization in college pursuing different paths in the business world. But I graduated a year after some of them which happened to be the difference between the relatively positive new hire environment of 2007 vs the burgeoning wasteland of 2008 when I graduated. They had robust starting salaries and I got laid off twice in my first year. So I was making probably 50% of what they were and I was absolutely miserable. In a job I didn't love, making no money, and unable to do alot of the things they were doing (random toys, vacations, general free spending on things). Fast forward a few years, it turned out fine, I've made it all up and while I might not have the savings built up that they do, I'm no longer comparatively destitute. I still want more and remain financially hungry, but to say I'm not happier or more content is an absolute lie.
Here's a timely article/infographic on this subject: What's the current state of the American Dream? Count me in the "enough to be secure" group. Overall my girlfriend and I feel motivated to keep debt to an absolute minimum, especially her after she saw her mom bury the family in credit card debt too. You could say getting rid of student loans is a priority for us today, balanced with saving- both of us started a 401k as soon as we could and my girlfriend (an accountant) can budget like hell and that helps keep us on track. Both of us have solid careers now (especially her) and are satisfied with our lifestyles so I don't feel particularly concerned about out future financially as long as we can keep saving money now. Of course some extra cash for tools/guns/trips wouldn't hurt, but if anything I wish I was earning more just so I could get rid of the damn student loans faster.
I think a pretty fucked up way to live is to do so being miserable all the time. Just because you are happy doesn't mean that you don't strive to make improvements.