Author Topic: No really, people with 5,000,000 or more are happier than people without!  (Read 4719 times)

mustache brony

  • 5 O'Clock Shadow
  • *
  • Posts: 37
http://www.businessinsider.com/penta-millionaires-much-happier-with-their-lives-2013-2

Thanks CNBC. When 1 survey found people with multiple millions to report as "happier", then that's "mounting research"? Seems like dodgy methods and sensationalist reporting (unless I'm not understanding this).

Another Reader

  • Walrus Stache
  • *******
  • Posts: 5224
I'm hoping to do some individual research on this subject with me as the guinea pig!  ;-)

Spork

  • Walrus Stache
  • *******
  • Posts: 5747
    • Spork In The Eye
In other news: water is extremely wet and sky has become sort of a bluish color.

Use it up, wear it out...

  • Stubble
  • **
  • Posts: 224
  • Location: Brooklyn, NYC
$5M will, I suppose, buy away a lot of marital friction. Why argue with your spouse over purchases or priorities?


unplugged

  • Stubble
  • **
  • Posts: 136
You think? LOL....

What is it with all these odd financial articles lately? This one is as bad as all the ones out there saying you can live on nothing, and you later find out the article didn't mention all the other financial resources (hand outs) the people have.

I think MMM needs to start writing for several places.


MtnGal

  • 5 O'Clock Shadow
  • *
  • Posts: 36
Perhaps those with such high net worth would be those found in the studies done for "The Millionaire Next Door"? Mustachians! Makes sense to me! Too bad the article doesn't explain how these people got their $5 million net worth.

dragoncar

  • Walrus Stache
  • *******
  • Posts: 9483
  • Registered member
$5M will, I suppose, buy away a lot of marital friction. Why argue with your spouse over purchases or priorities?

I'm not so sure about this.  You'll probably just end up arguing over whether to buy a yacht or a beach house.

Jamesqf

  • Magnum Stache
  • ******
  • Posts: 4047
The question, though, is whether a person with $5 million is 10 times happier than one with a mere $500K.

BlueMR2

  • Handlebar Stache
  • *****
  • Posts: 2092
$5M will, I suppose, buy away a lot of marital friction. Why argue with your spouse over purchases or priorities?

I'm not so sure about this.  You'll probably just end up arguing over whether to buy a yacht or a beach house.

It'd be bad news in my household for sure.  I've always wanted to buy an old F-5 fighter jet (converted to civilian spec).  That's just barely enough money for one.  My wife would kill me.  :-)

velocistar237

  • Handlebar Stache
  • *****
  • Posts: 1422
  • Location: Metro Boston
The question, though, is whether a person with $5 million is 10 times happier than one with a mere $500K.

Log relationship. Very roughly, a person with $500k is twice as happy as someone with $50k, and a person with $5 million is three times as happy as someone with $50k. My guess is that other factors can easily outweigh the money.

Jamesqf

  • Magnum Stache
  • ******
  • Posts: 4047
Doesn't work that way with me.  It's more quantum wealth levels, in which there's a basic level of happiness that doesn't change much until the next level.  So at level 1 I might have barely enough to eat &c.  Add a few bucks, or even a few thousand, to that, and nothing much changes until I hit level 2, where I can afford a mortgage on a fairly decent place.  Level 3 I hit minimal FI/FU money, nothing much changes until level 4, where I have several million & can afford a nice ranch...

velocistar237

  • Handlebar Stache
  • *****
  • Posts: 1422
  • Location: Metro Boston
Yeah, I doubt it works that way for most of us around here. I got the idea from that study with the $75K cutoff for maximum day-to-day happiness. It says that "life evaluation" continues to increase with the log of income.