Topic: How much money is enough money? - page 8. (Read 3331 times)

LOL, I have to say that there is no amount of money is enough for human. The rules is the more have the more you want. Just think about bill gates and Elon musk, Both are the top richest man in the world. That means atleast they should have enough money, right? But they are still doing works, business, to increase their capital. If the world richest man can not feel he has enough money despite owning thousand of billions dollars. Then How people like you, me can feel that we have enough money?


* Btw to give an idea about the money which help to lead life with happiness then we have to know the country where you are live. This really important before giving an constructive answer IMO.

We all spend essential portions of our lives pursuing money. Financial satisfaction is more of an emotional issue, and our attitudes and beliefs determines our sense of satisfaction and contentment. Man by nature is insatiable and "more money, more problems". That lies the unending quest for wealth. For example, a person can be grateful for a monthly income of $10,000 while another person will feel disenchanted and disappointed deprived this same level of income.

How much is enough money? For a person living in the United States under this COVID crisis that is an interesting question. Why because of the inflation of the FED stamps printed by the FED which means 1 million dollars might be in the form of a dollar bill rather than a lengthy bank transfer (or crypto-stable transfer  ) soon enough (or it will come in the form of a CBDC). In a way I sort of hope the USD stays the standard of global trade but we in the states are spoiled and it will soon all the printing and poor monetary policies will come back to bite the US. If were to stablize as I see it now. I would sell half my crypto for 4 Million dollars (keeping the other 4 million in crypto to accrue interest or gains in the markets) if the Zombie in Chief (or Mrs. Fake) doesn't take most of it in taxes. I'd hodl the rest in crypto just in case the USD goes the way of Venezuela, Zimbabwe or the Weimar Republic of Germany (circa-post WWI).

I read the question and the answers.

The tangent question to this is how much is time and health worth?

I am 64 My wife is 65. We get along.  If you offered me 30 years more time to be with her and for us to be really healthy for those 30 years I would pay quite a bit for that.

Since no one seems to be selling those 2 items time and health my need for big money drops a lot.

I know what we have.
I know what our fairly  certain income streams are.

So if I have 7 million usd tax free dropped in my lap with zero questions asked and no strings attached I would say I do not need any more than that amount.

I would want 2 homes not 1. 450k
I would want 1 car and 1 truck not just 1 car. 50k tesla truck
I would want a vacation spot in Canada or way Upstate New York a basic cabin with some land.  200k
I would want a nice sized ground mounted solar array giving me 1 megawatt of power at one of the homes. 2.5 million. This translates to about 160kwatt for free 24/7/365 I could run a lot of miners with that.

that is 3.2 million. I would hand over 3.5 million to the wife. leaving me 300k to play miner with.

More you have more expensive your toys do become LOL. How much does it cost to travel to orbital station as a tourist?    And for those who think 1 mill is enough - it's not enough to buy and maintain a couple of decent houses in various nice parts of the world, a decent car and a sailboat, leave alone a small plane. And if you like to travel (in relative comfort, of course) and actually see the world instead of watching Geography Channel then 1 mill will be over in less than 10 years, too.

If a poor man is given a lot of money, he will take it. If a rich man is given a lot of money, he will take it. And even a very very rich person will also take money. Only a dead person will not accept money.

Once we are alive we need more money, more cash flow, that's how our needs and wants increases, our problems increase too. For me the only time I can say I have enough money is when all my circle of friends are doing great,my family, relations, my parents are all financially free,then I can I have enough money.

If you are talking about dollars - 1 million dollars, then that is really a big amount of money here in the Philippines. One million dollars is almost 49 million Philippine Pesos so I can imagine if someone is that rich then he will be able to buy the things he can have like a house and a car and a small business. But that is not enough if you are planning to buy several houses and estates and parcels of land and a beachfront to make a resort business out of it. You need at least maybe 3 million dollars so that's almost 148 million Philippine pesos so for me that is my dream.

In these days every person is chasing to money, everyone want to earn money with any method(legal or illegal).
The limit for money is to have enough money to survive luxury and happy life.
If someone has cycle then he will earn for bike, if he got bike then he will earn for normal car if he got normal car then he will earn for expensive car and this keep going forever...

If someone is having a Toyota then they will be earning more because they want to buy a mid range Luxury car and one who have that mid range car will be keep earning to buy a Rolls Royce or Lambo and one who have Lambo will be keep earning to buy a private jet and this keep going forever...

If we will be relating this to something, for example, a car, the price of it is enough. Exceeding that price is too much.

Since we are talking about how much a person could have or could earn to live, I don't think we should actually say that there's an amount which is enough. As long as they are alive, they will keep on earning so for me. They may have too much to buy a house or a car but as long as they are living, they will still earn money.

People have this timeframe to keep earning even though they have too much money. That timeframe they have is the same amount as their lifetime.

"Enough" for what?  Enough for yourself?  Enough for yourself and your spouse?  Enough to educate, feed, and otherwise take care of your children (or grandchildren, and on down etc?)?  Enough so that they'll never be homeless?  Enough so that they can get two graduate degrees each?  Enough so that they can live in a nice house vs Bill Gates' house?  (Enough so that they can fly private jets like Bill Gates, Warren Buffett, Al Gore, John Kerry, all the while lecturing everyone else about global warming?) 

Enough to take care of and help fund things you believe in? 
e.g. Bezos, Elon with Blue Origin and SpaceX. 
Hal Finney with Alcor.org (and the necessary technologies to help it work)?  Enough for Hal to take care of his family now that he is gone, fund them at Alcor, revive them and then ensure they won't be in poverty when/if it works?
People funding charities they support - Carnegie with libraries for example.  Gates with vaccines. 

So it really depends on your goals how much is enough.

I will say, if you have to do something illegal, it isn't worth it.  Just ask Bernie Madoff and his ilk.

My view:
- private jets?  who needs them, just conspicuous consumption.
- A 300 foot yacht? Ditto.
- A 300000 square foot house?  Ditto.
- 10 cars?  Ditto.

A nice, well built home with a nice, safe car, that is sufficient for me.  Being able to pay for kid's (and their kid's) educations, helping them that is good too.  Helping to start a charity to help the sick, and fund some of it, that is nice too.  Being able to help the elderly, that is nice too.  Helping people via things like "March of Dimes", ditto.

It is certainly better to have individuals make these choices for themselves than to have some bureaucrat who hasn't ever earned a living make it for everyone.

You might not really learn how much money is enough for you until you learn how to keep a low profile in the public but still have the money kept in secret. You wouldn't want to attract much even your online activity and spending habits offline so having just enough in your pocket to buy the things you need will make you look content.
But once you have a family to impress and feed, you may never really feel the day you can think of $100M be enough.

There is no exact limit to the money that could ever be enough. Your either earning and spending or dead!

yes the ideal logic is 2x your salary.
1x means you can stop working and still get your income
1x for the new things you want to do with the new free time you have

but sometimes logic can surprise you.
once getting this logical 'contented' amount of 2x. your aspirations then raise up a level and your new higher level requires new standards and thus new income level.

EG
when your 20 you think if you can just get $300/w (~$7.50x40) then you just dont need to find a minimum wage job to survive,
bu then having that no-work lifestyle. and being 20. you want to hang out at bars and impress women. so you start spending more than you would if you were working and just going home each night.
so now you want $600/week(your 20yo ideal contented 2x lifestyle)

then at 21 you settle down with a woman and decide to get serious. marriage/kids. and suddenly more income is needed.
($10k wedding booked in 6 months needs over $400 a week saved up)
heck a $2400 a month wont pay all the bills and afford you a 3bedroom family home
after all your 20yo life only cost you $50 in food. but now your paying out $200 in food for you, wife and 2 kids. your electric and water has increased 4x too due to your family. so suddenly $1200 a week feels the same as $300 when you were single.
so yea maybe you think if you had $3600 a month, you can have $1200 a month extra spare cash. but that will only get you a $200k mortgage over 15 years. not exactly gonna get you a nice place you want to have your kids raised up in.

so when you were 20 thinking $300/w would be enough. a couple years later suddenly $900/w($3600/m) aint enough

$300/w might be ok if your content on being single all your life
but i guarantee you this. calculating a content life at 20 wont be a content life at 30

An ideal person or a person who knows how to handle money well set a goal to stop.

A person who does not get contended will lose it there is no such thing for people who wants money to get rich and want money is enough. We run the world with money people need money the rich work even more because they want to be stable and earn more but if this rich person is nice she or he will know how to share.

For the legal way, they know how to handle but it's not enough why? because they know money is unstable plus like I said if they are nice they will know how to share but they would still work for money to earn more.

For the illegal way, those are the greedy persons who don't know what is enough and have now a goal to do good which is simply illegal.

No much money is enough that is why rich people are still getting richer which means their greed towards money never came to an end.

This question might not ever be answered in its entirety and it really depends on a person. For instance, we have seen some people get some unexpected money from the recent Gamestop controversy on the stock market and I have seen testimonies of people that cashed out just to pay their medical bills (or for their loved ones), pay their student loans, or pay their mortgage and that is it. From their perspective, them being able to afford those things and only those things made them somewhat rich, because, in the end, it's not the accumulation of capital but the option to take care of all or any immediate crisis without going further into debt that makes you a wealth person. Accumulating wealth means nothing when we play with made-up money written on a computer screen (and that goes with any currency in the world that operates in this manner, and besides gold, I believe all else do), it's just a game of chicken in the and to see who blinks first and cashes out at the right time. What matters is how that enriched and made our lives better.

I will leave you with some quotes from Marx that can shine some lite on this

- Marx himself makes it clear that he does not start from a basic concept – value – but from an elementary material phenomenon – the commodity – which is at the basis of capitalism, as the only economic organization based upon generalized commodity production.

- Money itself is a commodity, an external object, capable of becoming the private property of any individual. Thus social power becomes the private power of private persons.

thats the game.
there is never 'enough'

governments say their social security benefits for the poor are 'enough' for them to live/survive on.
but anyone getting a minimum wage which is usually double governments minimum 'enough' social benefit know the social benefit is not enough purely because minimum wage(2x) is still not enough

there's the ex president that got paid $200k a year. and that was not enough. he had to syphon funds from the RNC donations.
..
the game is simple. once you attain a certain level of income and thus a level of lifestyle. the world is so vast that there is always more things/experiences that you want to achieve. thus always needing more money to attain the next level.
EG you initially plan on a hobby of hiking a mountain... then you spot people base jumping off the peak and suddenly you want to try that too.
..

alot of people try to break the game, by thinking that if they can calculate how much is left of their mortgage and then calculate how many years they may live for. and put a salary amount to those years left. and total it all up. then they can say XX is enough
but dare they ever get to a position of attaining that amount. suddenly their new lifestyle of not needing to work for it. allows them more free time to want to try new things.. which cost more money.

its like working minimum wage $300/w ($7.50x40h) thinking.. if you can get paid $300/w just to stay home you then have more free time for hobbies or more vacations.
but a vacation ends up costing $1500 a week all inclusive. and suddenly you feel the need for a 5x of your initial plan just to have a vacation lifestyle

in my view (from last decade before bitcoin when i did work) i thought a $50k a year income for the next 40 years would be 'enough' ($2m)
but now im hoarding a nice hoard of bitcoin. $2m doesnt seem enough

If you have a certain mental illness, which a lot of alpha males do, you will never have enough.  Greed will drive you for more.  Example:  One of the first things OG bragged to me was "I'm set for life."  but he continues to scam.  

If you have an extra 90 minutes, it's explained very well.   Greed drives 70% of all crime.