[traviswingo]

> When the benefits of money are so obvious but the downsides are so subtle, the downsides you didn’t anticipate can be more jarring than the benefits you expected.

This is a really important aspect of seeking wealth that many people don’t understand. The jump from poverty to no longer missing bills is much more significant than the jump from middle class to upper class. It’s the reason why so many studies exist showing that past $75,000 per year (not inflation adjusted, so try $120k or so), more money doesn’t tend to make you happier. Instead, you trade freedom and happiness for the money you thought would bring you freedom and happiness. Also, trying to become a billionaire is most definitely a lonely and sad path.

A somewhat healthier goal would be to become “financially free,” whatever that means to you. No longer needing to work, allows you to do the work you actually love.

[paulpauper]

It’s the reason why so many studies exist showing that past $75,000 per year (not inflation adjusted, so try $120k or so)

I believe this was debunked

https://www.verywellmind.com/happiness-doesn-t-top-out-at-us...

[cipheredStones]

I'd caution against saying one study was "debunked" because another one disagrees with it. Later does not necessarily mean better.

However, in this particular case, the author of the $75k study (Daniel Kahneman, one of the founders of the field of behavioral economics) did an "adversarial collaboration" with the author of the later paper, and found that emotional well-being did continue to rise with income - except for the least happy 20% of people. https://www.pnas.org/doi/10.1073/pnas.2208661120

[ghaff]

That sort of makes intuitive sense. Some percentage of people have relationship problems that more money doesn't necessarily help past some point--or even worsens--personal and family health issues that money can only do so much to solve, etc. But especially in HCOL areas, it seems logical that something over $75K inflation-adjusted makes various life decisions and other things easier which would reasonably correlate to happiness at some level. But which is presumably a decreasing utility function at some point for most people.

[andyferris]

Following the links, we arrive at Fig. 1 of https://www.pnas.org/doi/full/10.1073/pnas.2016976118.