All you need is $25,000
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All you need is love $25,000. A study says that $25,000 meets our basic needs and anything after that is increasingly unlikely to increase our happiness. What is interesting is that the study was done by an investment banker. [Update] Please look beyond the literal figures. Also as Chris points out it should be £ and not $. [/Update] regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN! -- modified at 9:41 Tuesday 31st January, 2006
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Sorry to hear that, Mircea. I lived in South Africa for many years which is also not all that great economically and I found, as this study suggests, that once basic needs were met any money above it did not make me a happier man. regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN!
Indeed, it is not the money that bring happiness. But you got to have enough to cover your basic needs and also to cover for security (in case you encounter any kind of problem: health, etc). regards, Mircea Many people spend their life going to sleep when they’re not sleepy and waking up while they still are.
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Good god, I should have know posting this on a programmers site would get answers like this. Where is the un-post button damnit... regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN! -- modified at 9:18 Tuesday 31st January, 2006
Paul Watson wrote:
Good god, I should have know posting this on a programmers site would get answers like this. Where is the un-post button damnit...
:laugh: Sorry.
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All you need is love $25,000. A study says that $25,000 meets our basic needs and anything after that is increasingly unlikely to increase our happiness. What is interesting is that the study was done by an investment banker. [Update] Please look beyond the literal figures. Also as Chris points out it should be £ and not $. [/Update] regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN! -- modified at 9:41 Tuesday 31st January, 2006
Then I suggest the aforementioned banker try living on 25K. And see how he likes it :). ¡El diablo está en mis pantalones! ¡Mire, mire! Real Mentats use only 100% pure, unfooled around with Sapho Juice(tm)! SELECT * FROM User WHERE Clue > 0 0 rows returned Save an Orange - Use the VCF!
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Nitron wrote:
Well, if it makes you feel any better, that number is for my wife and I combined, and she is a pilot, so a lot of the $$ is for flight time. My loans alone were ~$17K out of school.
That seems a lot more reasonable. I mean you did your bachelors and then your masters and as you said a lot of your wifes loans were for flight time.
Nitron wrote:
As far as kids go, the single most expensive thing for us is daycare. (~$140/wk)
Didn't have that myself, though only one income makes it noticeable nontheless.
Nitron wrote:
[edit] I'm looking at ~ 10 years out of school to pay them off. [/edit]
Seems a long time to me. Michael Martin Australia "I controlled my laughter and simple said "No,I am very busy,so I can't write any code for you". The moment they heard this all the smiling face turned into a sad looking face and one of them farted. So I had to leave the place as soon as possible." - Mr.Prakash 24/04/2004
Michael Martin wrote:
Nitron wrote: [edit] I'm looking at ~ 10 years out of school to pay them off. [/edit] Seems a long time to me.
10 years is the standard term for federal school loans. I've got ~$20k and am paying ~$200/mo. You are ofc free to prepay although my lender says they won't accept a prepay of less than a full additional month, and will then helpfully not send the next bill. I've never actually tried this to see what they'd do with a $300 check. Student loans are the cheapest you'll ever get in your life, so I'm putting all my extra cash towards higher rate bills.
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All you need is love $25,000. A study says that $25,000 meets our basic needs and anything after that is increasingly unlikely to increase our happiness. What is interesting is that the study was done by an investment banker. [Update] Please look beyond the literal figures. Also as Chris points out it should be £ and not $. [/Update] regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN! -- modified at 9:41 Tuesday 31st January, 2006
Paul Watson wrote:
A study says that $25,000 meets our basic needs and anything after that is increasingly unlikely to increase our happiness.
That's 25,000 minus debt payments. Actually 25,000 with no credit debt is a significant amount of money, once you can reach that state (debt free) money goes a long way. It is the debt that brings unhappiness rather than the huge money bringing happiness. And often debt increases for most of the population proportionally to their earnings, so increasing income while increasing debt will never bring happiness. If I ever reach debt free, and I am heading that way, I could see myself taking less money for less stress if it comes to that. I have no expectations of being a millionare. _________________________ Asu no koto o ieba, tenjo de nezumi ga warau. Talk about things of tomorrow and the mice in the ceiling laugh. (Japanese Proverb)
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Vikram, you can't go converting money between countries like this. Try and take the spirit of the study (that once you meet your basic needs furthering your income does not increase your happiness as you would expect) please. regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN!
Paul Watson wrote:
Vikram, you can't go converting money between countries like this.
Umm, why not? Even more food for thought - Heck, *I'm* not poor, but apart from my rent and lunch (which the company takes care of), I hardly spend more than 1 USD a day.
Paul Watson wrote:
once you meet your basic needs furthering your income does not increase your happiness as you would expect
I thought that was common knowledge? Cheers, Vikram.
"When I read in books about a "base class", I figured this was the class that was at the bottom of the inheritence tree. It's the "base", right? Like the base of a pyramid." - Marc Clifton.
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Paul Watson wrote:
A study says that $25,000 meets our basic needs and anything after that is increasingly unlikely to increase our happiness.
That's 25,000 minus debt payments. Actually 25,000 with no credit debt is a significant amount of money, once you can reach that state (debt free) money goes a long way. It is the debt that brings unhappiness rather than the huge money bringing happiness. And often debt increases for most of the population proportionally to their earnings, so increasing income while increasing debt will never bring happiness. If I ever reach debt free, and I am heading that way, I could see myself taking less money for less stress if it comes to that. I have no expectations of being a millionare. _________________________ Asu no koto o ieba, tenjo de nezumi ga warau. Talk about things of tomorrow and the mice in the ceiling laugh. (Japanese Proverb)
Well put: other than my mortgage (don't ask) I am debt free and have managed to accumulate some money for a rainy day. However I have found that my lifestyle rises to meet my income and you get used to it pretty quickly. I also don't buy anything I can't afford to pay for in full: I'd rather save and wait for it than owe the money.
turning the other cheek just gets you slapped twice
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USD 25K ~ Rs. 1,125,000. Woah! :omg: That's 5+ times what I make in a year. No wonder I'm not happy. It illustrates 1. How strong the USD is compared to the currencies of some developing nations. 2. How something most Americans rarely think about can actually turn out to be a lot for poor people in developing countries. For instance, for many people $1 may be next to nothing, but it can feed a family of four poor people for a day here. We have a looong way to go. :sigh: Cheers, Vikram.
"When I read in books about a "base class", I figured this was the class that was at the bottom of the inheritence tree. It's the "base", right? Like the base of a pyramid." - Marc Clifton.
Wow, that's crazy. If you make $25,000 a year in USD and live in the US, you are hating life. Unless you live in a very poor state like West Virginia. If you live on the coast, you need $50,000 per year. "People who never make mistakes, never do anything." My Blog
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But would you be happier with more than $25,000? regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN!
I still owe $140k on our house..... so yes, more than $25k would make me happier. :-D -J
Think of a computer program. Somewhere, there is one key instruction, and everything else is just functions calling themselves, or brackets billowing out endlessly through an infinite address space. What happens when the brackets collapse? Where's the final 'end if'? Is any of this making sense? -Ford Prefect
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All you need is love $25,000. A study says that $25,000 meets our basic needs and anything after that is increasingly unlikely to increase our happiness. What is interesting is that the study was done by an investment banker. [Update] Please look beyond the literal figures. Also as Chris points out it should be £ and not $. [/Update] regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN! -- modified at 9:41 Tuesday 31st January, 2006
British Pounds
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British Pounds
Yes I mentioned the mistake in the original post after Chris pointed it out. Thanks. regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN!
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Paul Watson wrote:
Vikram, you can't go converting money between countries like this.
Umm, why not? Even more food for thought - Heck, *I'm* not poor, but apart from my rent and lunch (which the company takes care of), I hardly spend more than 1 USD a day.
Paul Watson wrote:
once you meet your basic needs furthering your income does not increase your happiness as you would expect
I thought that was common knowledge? Cheers, Vikram.
"When I read in books about a "base class", I figured this was the class that was at the bottom of the inheritence tree. It's the "base", right? Like the base of a pyramid." - Marc Clifton.
Vikram A Punathambekar wrote:
apart from my rent and lunch (which the company takes care of)
That's why you can't do a straight comparison between countries. Not too many jobs here that'll pay for your lunch on a regular basis, much less your rent. My company does provide fairly good medical coverage, though - in some countries, this might be a Gov't thing, or (like much of the US) come out of pocket. Wage conversions are tricky to get right...
---- I just want you to be happy, That's my only little wish...
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Wow, that's crazy. If you make $25,000 a year in USD and live in the US, you are hating life. Unless you live in a very poor state like West Virginia. If you live on the coast, you need $50,000 per year. "People who never make mistakes, never do anything." My Blog
ToddHileHoffer wrote:
If you live on the coast, you need $50,000 per year.
Well, ignoring that there are a lot more places to live off the cost than on it, it depends on your situation. I put myself through college on well under $25K (in Wisconsin, not CA), and was living it up on $30K. But throw in a marriage, medical and legal expenses, and suddenly the base cost of living is dwarfed in comparison.
---- I just want you to be happy, That's my only little wish...
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I'm sorry, but I couldn't buy my Porsche 911 with only $25k, so no, I would not be happier. :) Brigg Thorp Senior Software Engineer Timex Corporation
That would cover about 2/3 of my daughters yearly college tuition. I do NOT think it is possible to equate money and happiness. I know several people with 2 million dollar plus home who are their 2nd and 3rd wifes, have kids on drugs, and have major health issues.
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Nitron wrote:
Student Loans: $50K
Faaarrrrrkkkkkkk! Is this pretty standard in the US? How long on average would it take a student to pay this off? No wonder one of the regulars is so paranoid about having a kid his wife is on the pill and he also wears a condom. Cost of a kid on top of their student loans would kill them. Anyone know who the regular is I'm talking about? Michael Martin Australia "I controlled my laughter and simple said "No,I am very busy,so I can't write any code for you". The moment they heard this all the smiling face turned into a sad looking face and one of them farted. So I had to leave the place as soon as possible." - Mr.Prakash 24/04/2004
Michael Martin wrote:
Is this pretty standard in the US?
It would be intersting to find truthful numbers on this. For those that have student loans it may very well be average. Now I worked 1/2 time and paid as I went. Parents paid about 1/2 also, so mine were zero. That was a few years ago. However my daughter is doing the same, me paying about 3/4, so hers are currently zero also (and keeping the college fund we created for her as cash to get started when she is done.) We both picked undergraduate schools that were affordable and gave a good education, versus the popular name brand place, Smart girl! "Every new day begins with possibilities. It's up to us to fill it with things that move us toward progress and peace.” (Ronald Reagan)
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All you need is love $25,000. A study says that $25,000 meets our basic needs and anything after that is increasingly unlikely to increase our happiness. What is interesting is that the study was done by an investment banker. [Update] Please look beyond the literal figures. Also as Chris points out it should be £ and not $. [/Update] regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN! -- modified at 9:41 Tuesday 31st January, 2006
People making more than $44,500 / £25,000 preaching to others that that is all you need is the ultimate in hypocrisy. As others have pointed out, it's also very naive. Were I single, I could quite easily live on that amount. But try paying for school fees, clothes and food for four kids and braces and car insurance for the cars you need to ferry such a family around and then car insurance for the oldest child (in succession) and $44,500 isn't much. (And I live in a relatively low cost-of-living state.) Now if he meant $44,500 per person in the family, then I would fully agree with that. Anyone who thinks he has a better idea of what's good for people than people do is a swine. - P.J. O'Rourke
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Vikram A Punathambekar wrote:
apart from my rent and lunch (which the company takes care of)
That's why you can't do a straight comparison between countries. Not too many jobs here that'll pay for your lunch on a regular basis, much less your rent. My company does provide fairly good medical coverage, though - in some countries, this might be a Gov't thing, or (like much of the US) come out of pocket. Wage conversions are tricky to get right...
---- I just want you to be happy, That's my only little wish...
Shog9 wrote:
Not too many jobs here that'll pay for your lunch on a regular basis, much less your rent.
I'm yet to find a company that pays your rent. :laugh: My company 'pays' for lunch, in the sense that they subsidise it. We still pay Rs 250 a month, and they take care of the rest. Which just goes to prove.... there's no free lunch. :-D Cheers, Vikram.
"When I read in books about a "base class", I figured this was the class that was at the bottom of the inheritence tree. It's the "base", right? Like the base of a pyramid." - Marc Clifton.
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All you need is love $25,000. A study says that $25,000 meets our basic needs and anything after that is increasingly unlikely to increase our happiness. What is interesting is that the study was done by an investment banker. [Update] Please look beyond the literal figures. Also as Chris points out it should be £ and not $. [/Update] regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN! -- modified at 9:41 Tuesday 31st January, 2006
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Good god, I should have know posting this on a programmers site would get answers like this. Where is the un-post button damnit... regards, Paul Watson Ireland Feed Henry! K(arl) wrote: oh, and BTW, CHRISTIAN ISN'T A PARADOX, HE IS A TASMANIAN! -- modified at 9:18 Tuesday 31st January, 2006