Poll

Are you unsatisfied with your (household) net income?  If you are NOT satisfied, what income bracket does your income fall under?

Less than $20,000
$20,001 to $40,000
$40,001 to $80,000
$80,001 to $160,000
$160,001 to $320,000
Greater than $320,000
I AM satisfied with my income.  This question doesn't apply to me!

Author Topic: Money & Satisfaction  (Read 2976 times)

Beard N Bones

  • Stubble
  • **
  • Posts: 168
  • Location: Canada
Money & Satisfaction
« on: October 16, 2019, 09:44:43 AM »
If you are not satisfied with your income, what is/are the reason(s) that you aren't satisfied with it?!

Jon Bon

  • Handlebar Stache
  • *****
  • Posts: 1668
  • Location: Midwest
Re: Money & Satisfaction
« Reply #1 on: October 16, 2019, 09:54:01 AM »
I feel this is a really good question.

To me its not about income at all (anymore) sure it used to be. But as we get closer to our magic number I watch the NW number much more closely then our income. Probably because the gains on our investments have started to surpass the amount that we put in.

So to answer your question my income pays for my lifestyle with a nice chunk for investing. More would be nice but I am pretty satisfied with it at this point. If it required more hours/travel/commute etc we would say no.




Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17997
Re: Money & Satisfaction
« Reply #2 on: October 16, 2019, 10:05:25 AM »
My income depends on how many hours I choose to work, and I make double to triple the minimum I would be happy to make per hour.

newloginuser

  • 5 O'Clock Shadow
  • *
  • Posts: 66
Re: Money & Satisfaction
« Reply #3 on: October 16, 2019, 10:28:49 AM »
Wow someone makes greater than $320K and aren't satisfied? I get there are certain places in the US (maybe world?) that this doesn't amount to "much" but I'd be curious if the individual who selected this would be willing to share their story.

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17997
Re: Money & Satisfaction
« Reply #4 on: October 16, 2019, 10:32:40 AM »
Wow someone makes greater than $320K and aren't satisfied? I get there are certain places in the US (maybe world?) that this doesn't amount to "much" but I'd be curious if the individual who selected this would be willing to share their story.

A lot of my colleagues make double that much and aren't satisfied. It's not uncommon. Sometimes the trade offs needed just aren't worth it.

newloginuser

  • 5 O'Clock Shadow
  • *
  • Posts: 66
Re: Money & Satisfaction
« Reply #5 on: October 16, 2019, 10:36:01 AM »
Wow someone makes greater than $320K and aren't satisfied? I get there are certain places in the US (maybe world?) that this doesn't amount to "much" but I'd be curious if the individual who selected this would be willing to share their story.

A lot of my colleagues make double that much and aren't satisfied. It's not uncommon. Sometimes the trade offs needed just aren't worth it.

Maybe I am interpreting the question differently, I thought this was strictly looking at income, not the individual sacrifice (or any other circumstances) to achieve such income. It sounds like the people you are referring to would never be satisfied with how much they made due to the trade off.

obstinate

  • Handlebar Stache
  • *****
  • Posts: 1167
Re: Money & Satisfaction
« Reply #6 on: October 16, 2019, 11:33:32 AM »
What do you mean by "satisfied?" Are you saying, "Don't want more at all?" Or "Don't want more very much?" Personally I'm in the highest bracket of your poll, but I would take more. Would move me closer to FI faster.

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17997
Re: Money & Satisfaction
« Reply #7 on: October 16, 2019, 12:06:40 PM »
Wow someone makes greater than $320K and aren't satisfied? I get there are certain places in the US (maybe world?) that this doesn't amount to "much" but I'd be curious if the individual who selected this would be willing to share their story.

A lot of my colleagues make double that much and aren't satisfied. It's not uncommon. Sometimes the trade offs needed just aren't worth it.

Maybe I am interpreting the question differently, I thought this was strictly looking at income, not the individual sacrifice (or any other circumstances) to achieve such income. It sounds like the people you are referring to would never be satisfied with how much they made due to the trade off.

You cannot separate income satisfaction from job satisfaction. Human psychology doesn't work that way.

Beard N Bones

  • Stubble
  • **
  • Posts: 168
  • Location: Canada
Re: Money & Satisfaction
« Reply #8 on: October 16, 2019, 03:19:41 PM »
What do you mean by "satisfied?" Are you saying, "Don't want more at all?" Or "Don't want more very much?" Personally I'm in the highest bracket of your poll, but I would take more. Would move me closer to FI faster.

Satisfied = to have contentment with

@obstinate  I'm asking... are you content with your income?  or do you have discontent and a want for a greater income?

Wow someone makes greater than $320K and aren't satisfied? I get there are certain places in the US (maybe world?) that this doesn't amount to "much" but I'd be curious if the individual who selected this would be willing to share their story.

@newloginuser I think the question needs to be asked - does a person's income guarantee contentment?  Seems like the answer is 'no' as someone responded the "Money & Satisfaction Pt 2"  and their income was less than $20,000 and others here have a high income (greater than $320K) and they aren't satisfied with that. 

Cranky

  • Magnum Stache
  • ******
  • Posts: 3875
Re: Money & Satisfaction
« Reply #9 on: October 16, 2019, 05:30:41 PM »
I think being satisfied with your work, and being satisfied with your income are totally different.

Meanwhile, Iím retired and my income is $0 and I kinda miss my job but Iím quite content with our household income. (And itís not $300000.)

BicycleB

  • Walrus Stache
  • *******
  • Posts: 5285
  • Location: Coolest Neighborhood on Earth, They Say
  • Older than the internet, but not wiser... yet
Re: Money & Satisfaction
« Reply #10 on: October 16, 2019, 06:25:26 PM »
Wow someone makes greater than $320K and aren't satisfied? I get there are certain places in the US (maybe world?) that this doesn't amount to "much" but I'd be curious if the individual who selected this would be willing to share their story.

A lot of my colleagues make double that much and aren't satisfied. It's not uncommon. Sometimes the trade offs needed just aren't worth it.

Maybe I am interpreting the question differently, I thought this was strictly looking at income, not the individual sacrifice (or any other circumstances) to achieve such income. It sounds like the people you are referring to would never be satisfied with how much they made due to the trade off.

You cannot separate income satisfaction from job satisfaction. Human psychology doesn't work that way.

Human psychology doesn't apply do the jobless? I'm...I'm...inhuman if I'm FIREd?

This is a whole new reason for being dissatisfied that I hadn't thought of!

PS. I should answer the OP. So... I'm in thin FIRE, but partly am retired because I too often avoid activities that seem like they would be useful. Included in the activities I procrastinate about are money-earning ones to thicken up the stash. So I don't feel like I'm operating properly / living fully.
« Last Edit: October 16, 2019, 06:29:28 PM by BicycleB »

Lucky Penny Acres

  • 5 O'Clock Shadow
  • *
  • Posts: 64
    • Lucky Penny Acres
Re: Money & Satisfaction
« Reply #11 on: October 16, 2019, 06:44:09 PM »
I have a relatively high household income but am often not satisfied with it - I answered the poll that I am not satisfied.

I oscillate between feeling a bit underpaid (when under tight deadlines and dealing with unpleasant clients) to feeling grossly overpaid (especially when working closer to 40 hours per week with little time pressure). I often work a lot of hours and "vacation" really just means working the same amount of time from a different location, but I don't really work that much harder than others who put in similar hours (say with 2 jobs or a main job and a side hustle), yet I receive multiple times (or maybe even an order of magnitude in some cases) more income.

The amount of money is more than sufficient for my needs but that doesn't mean it is really a satisfying amount.

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17997
Re: Money & Satisfaction
« Reply #12 on: October 16, 2019, 06:44:13 PM »
Wow someone makes greater than $320K and aren't satisfied? I get there are certain places in the US (maybe world?) that this doesn't amount to "much" but I'd be curious if the individual who selected this would be willing to share their story.

A lot of my colleagues make double that much and aren't satisfied. It's not uncommon. Sometimes the trade offs needed just aren't worth it.

Maybe I am interpreting the question differently, I thought this was strictly looking at income, not the individual sacrifice (or any other circumstances) to achieve such income. It sounds like the people you are referring to would never be satisfied with how much they made due to the trade off.

You cannot separate income satisfaction from job satisfaction. Human psychology doesn't work that way.

Human psychology doesn't apply do the jobless? I'm...I'm...inhuman if I'm FIREd?

This is a whole new reason for being dissatisfied that I hadn't thought of!

Cheeky bugger ;)

obstinate

  • Handlebar Stache
  • *****
  • Posts: 1167
Re: Money & Satisfaction
« Reply #13 on: October 16, 2019, 08:01:32 PM »
What do you mean by "satisfied?" Are you saying, "Don't want more at all?" Or "Don't want more very much?" Personally I'm in the highest bracket of your poll, but I would take more. Would move me closer to FI faster.

Satisfied = to have contentment with

@obstinate  I'm asking... are you content with your income?  or do you have discontent and a want for a greater income?
I think contentment is a continuum. I guess I'm more content than not. But I do want more income and am actively working toward that end. I suppose I'll register myself in the content version of this poll then.

mistymoney

  • Magnum Stache
  • ******
  • Posts: 2511
Re: Money & Satisfaction
« Reply #14 on: October 17, 2019, 06:29:35 AM »
I'm ok with my income as a number, but I'm below market so filing that under unsatisfied.
I'm not at the minimum savings rate I should be, so that will also file under unsatisfied.

I will push for an adjustment at my next review. I'm less than a year in to a promotion, so not ready to take my act on the road as yet. But those plans are forming if the current company isn't willing to reassess this. I am doing pretty great in my new role! but I'm sure future employers would want to see at least a year in before taking me on at a similar level.

But I'm not crying on my way to work or anything!

DadJokes

  • Handlebar Stache
  • *****
  • Posts: 2361
Re: Money & Satisfaction
« Reply #15 on: October 17, 2019, 08:20:13 AM »
This is an odd question.

I make enough to pay for all my needs and most of my wants. The more I make, the sooner I can FIRE, so I'll never be satisfied if I am still working for a paycheck.

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17997
Re: Money & Satisfaction
« Reply #16 on: October 17, 2019, 08:26:22 AM »
This is an odd question.

I make enough to pay for all my needs and most of my wants. The more I make, the sooner I can FIRE, so I'll never be satisfied if I am still working for a paycheck.

I don't think the question is odd, OP is just being a little cagey about what he's actually trying to get at and why.

As someone who has near total control over my own income, I have to think about this all the time. Exactly how much time, energy, and stress is worth it for more money???

I was the least satisfied with my income when I was making the most money. I felt chronically underpaid for my effort expended.

DadJokes

  • Handlebar Stache
  • *****
  • Posts: 2361
Re: Money & Satisfaction
« Reply #17 on: October 17, 2019, 08:42:19 AM »
This is an odd question.

I make enough to pay for all my needs and most of my wants. The more I make, the sooner I can FIRE, so I'll never be satisfied if I am still working for a paycheck.

I don't think the question is odd, OP is just being a little cagey about what he's actually trying to get at and why.

As someone who has near total control over my own income, I have to think about this all the time. Exactly how much time, energy, and stress is worth it for more money???

I was the least satisfied with my income when I was making the most money. I felt chronically underpaid for my effort expended.

I guess if the question is, "Do you feel like you are compensated fairly for what you do?" then I would say yes, particularly when benefits are included. My wife may be a different story, since she is paid less for more work.

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17997
Re: Money & Satisfaction
« Reply #18 on: October 17, 2019, 08:52:27 AM »
This is an odd question.

I make enough to pay for all my needs and most of my wants. The more I make, the sooner I can FIRE, so I'll never be satisfied if I am still working for a paycheck.

I don't think the question is odd, OP is just being a little cagey about what he's actually trying to get at and why.

As someone who has near total control over my own income, I have to think about this all the time. Exactly how much time, energy, and stress is worth it for more money???

I was the least satisfied with my income when I was making the most money. I felt chronically underpaid for my effort expended.

I guess if the question is, "Do you feel like you are compensated fairly for what you do?" then I would say yes, particularly when benefits are included. My wife may be a different story, since she is paid less for more work.

Beyond that though, personally, I've found that my overall satisfaction with my work, overall salary, relative salary per unit of effort, and desire for more income were all interrelated.

At my highest income I was so unhappy that it was hard to feel satisfied with my income because I wasn't satisfied with my life.

chemistk

  • Handlebar Stache
  • *****
  • Posts: 1743
  • Location: Mid-Atlantic
Re: Money & Satisfaction
« Reply #19 on: October 17, 2019, 09:56:49 AM »
Our household income, after taxes and other misc. is somewhere in the high $50s or low $60s. Gross income is just around $70k.

We have a positive savings rate and a positive net worth, but with just about 3 kids it definitely feels like a heightening tug-of-war between saving as much as we can vs. being able to do the things that we would like to do. As kids get older, they add incremental costs (food, clothes, activities, etc.) and my income hasn't jumped like I'd hoped it would have.

My job is in a pretty technical role (see: username) and I happen to be on the wrong side of two fences as far as having a relatively easy path to boosting my income by job-hopping. 1) I don't have a graduate degree and 2) I got involved in food/beverage instead of pharma/petroleum where the big $$$ is.

henramdrea

  • 5 O'Clock Shadow
  • *
  • Posts: 98
  • Age: 57
  • Location: Southwest
Re: Money & Satisfaction
« Reply #20 on: October 18, 2019, 03:31:45 PM »
I'm not dis-satisfied with my income.  I think it's mostly fair for the market I'm in.  What I am dis-satisfied with is the ease of which said income flies out of the checking account.  If I could find a wider net to catch all those flying dollars, I'd be quite satisfied!

1.  Insurance (car, home, health)
2.  Food (kids)
3.  Mortgage
4.  Fuel
5.  Home costs

The big-5.  Your order may vary :)

PoutineLover

  • Handlebar Stache
  • *****
  • Posts: 1596
Re: Money & Satisfaction
« Reply #21 on: October 18, 2019, 03:45:29 PM »
I put not satisfied because my net household income isn't high enough to meet my needs and wants while saving at a satisfactory enough rate. It's definitely enough to live my current lifestyle, but not enough to reach some future goals, and that's something I want to work on.