We live in an age where âKeeping Up With The Jonesesâ is the norm and we cannot stop.
We forget about what we have and focus on what others have that we donât.
There is an abundance of choices, options, templates, and free trials that bombard some and lead others to stay powerful and not get distracted.
The nuclear devices we keep in our pockets at all times are destroying our gratitude, soft skills, purpose and well-being. According to reports based on Facebookâs addictive influence, majority of users feel worse off than when they visited the site and over 50%+ of teenagers blame social media for their mental illness.
Just think about that.
A completely voluntary online destructive platform has such a big influence on our lives. There are over a billion people on Instagram and more than half are addicted and need to scroll around for at least 2 hours a day.
That is ridiculous and absurd reinstating our false beliefs about where happiness comes from.
Even a free platform like Facebook poses such a threat and sways emotion similar to what money does to people.
Thereâs no doubt money is the biggest controller in our lives. We donât want to think it but it is.
Everything we do evolves around it and the more you have at your disposal, the more you have to preserve and make sure the options that are offered are taken seriously.
Before we dive deeper into what money does to us and the universal question if money = happiness, letâs understand what it does not entail:
-More money = immediately more bliss and is infinite forever
-Happiness flourishes right away once surpassing $70k+ in income (the threshold for max happiness until it plateaus again)
-The wealthier the better looking, healthier, cooler, friendlier, anything else you could possible think of you become
-Your life becomes instantly easier
In life, more doesnât mean more and happiness is completely subjective. More often than not, less = more.
Happiness is one of those things that needs to be worked on day in and out. It provides stability but for it to last inside, options need to be weighed. With more to your name, you must work harder to dive deeper into the small irreplaceable things in life that wonât change, or shouldnât like family time or eating well.
The more assets one owns does not make them immediately happier. If they appreciate it, it will give them a boost but it is the long-term mindset that counts.
It is what they do with their resources that produces happiness, something majorly of social media users canât seem to grasp.
Similarly to college, what you put in is what you get out. Just attending class to graduate wonât pay off your college tuition. I become artificially happier when I get a stellar test score but then it quickly fades. How I utilize my time meeting new colleagues, professors and exploring the school provides lasting happiness.
Spinning Wheels
The rich are naturally happier because they have used their wealth to their advantage and have more at their disposal. They can go to remote places, meet different people, try out different activities and allow money to save them time if theyâre prudent with how itâs being used.
People who earned every penny themselves and climbed the ladder from the bottom are more likely to be happier with more since they donât change inside all that much. Out of the self-made millionaires that I know, they are not only the most frugal, down-to-earth, brilliantly boring people, they are also the happiest. They know what money provides them and how difficult it is to get to this point. They donât want to risk blowing it and comprehend the similarities with having less to their name. They focus on other areas that will provide free and real raw happiness that donât come out of spending. They know how fast their wealth can disappear with one bad decision and are mindful of what it took to get them there as opposed to someone who inherited it, wouldnât value the dollar as much.
There could be two landowners who own identical rental properties in the same neighborhood with the same type of renters. One landowner really enjoys taking care of the tenants and their needs and renovating the property as they treat it as a fulfilling job and the other owner delegates all responsibilities to a management company because they have no time as they are a slave at their corporate job.
Everything is relative. Itâs not the number of zeros that supply happiness, itâs what you do with it and this is where most people get stuck, even the Uber-rich with no purpose. They assume a number of zeros will provide more smiles. According to researchers, past ~$70k in earned income your basic needs should be met. I recommend over $200k happiness starts to plateau, but as an average keep it at $70k. Basic needs include being able to provide yourself a roof over your head, 1â2 additional income sources, health/home/car insurance established, education, food, hopefully purposeful job and security.
After that point, your happiness will only rise to how much work you put into it.
What you put in is what you get out. If you buy anything, especially materialistic possessions that degrade in value overtime, they will slowly depreciate and you will find less meaning in them as you find out thereâs a better one on the market or youâve used it to its full potential. This creates a consumeristic world full of debt and purposeless riding the hedonic treadmill replicated online.
If you really want more money to provide more happiness, which is possible, it starts within. Tell yourself what wonât change once you hit X in net worth and stay leveled no matter how much you own. Will you still stay in touch with family and educate yourself daily or fall into the highlight reel trap that is bound to make you paranoid, jealous and depressed?
Truth Bomb
You could be miserable with billions or grateful. Studies have found that life satisfaction is tied with wealth but is mainly based on how they spend it and experience with it.
Being rich doesnât equal happiness but there is a higher likelihood the rich are happier since they are able to create more fulfillment with more options. Some say 50% of your happiness is determined by your genes and the rest by your day to day activities. I see environment, relationships and mindset blended in there as well.
Similar to personal finance advice, there is no one set formula that fits all. It is completely personalized and subjective. On average wealthier people are happier but it is based on how one spends, saves and thinks about money that allows one to receive joy from it. Being rich can easily equal happiness if youâll allow it to. It wonât happen right away, something you can only relate and agree with once you hit that mark.
It takes dedication and effort to make ourselves feel good. It wonât last long with a purchase.
Happiness comes from being grateful for the small things that cannot be replaced. Staying grounded, humble and down to earth is hard to do since we equate too much of our goals to money. Itâs nature to want to change and scale everything once we have more yet higher income individuals are known to be lonelier as well. They arenât much different than others, they just get distracted more easily if not careful with their power and spending habits.
I find Iâm happiest when Iâm interested in others not focused on being interesting. I give of myself not give myself. I want to be in service of others and accomplish something painful that I didnât expect I could deal with. That pure sense of happiness tops the feeling of buying anything anytime.
Give and focus on something outside of ourself for the ultimate reward. Thereâs no point in earning it if you canât put it to good use. You canât own everything and more junk creates more problems.Â
And remember to put that phone down. Thereâs always something going on that youâre missing even with a high net worth.