After 2-3 million you don't really "need" money for anything yourself.
You take them for family, because you can, to not let it go away, because you want the power that comes with it, and for extravagance. But not for "need".
You take them for family, because you can, to not let it go away, because you want the power that comes with it, and for extravagance. But not for "need".
With 3-4 million (less in many countries) all your needs are covered for life. You wont die or have any harmful effect (lack of job, nutricion, housing, clothing, health coverage) when you don't get to have more, except for things common to everybody like natural death, accidents etc.
If you go for more, you do it for various wants, not for needs.
Even when it comes to happiness, there's a plataeu at around that level:
https://www.huffpost.com/entry/map-happiness-benchmark_n_559...
Minimum wage is enough for this.
And the link you shared couldn't get the analysis more wrong just to come up with clickbaity title. They are taking average happiness of state and average wage, and even then the data doesn't look like it is plateauing.
Minimum wage? LOL.
Even with a $80,000 salary, in the US a medical or other emergency (e.g. getting fired in a bad economy), can leave you unemployed, homeless, or living with a big debt. Even worse so for your retirement prospects (or lack thereof).
With a few cool million in the bank you don't need to worry about any of those things.
>And the link you shared couldn't get the analysis more wrong just to come up with clickbaity title. They are taking average happiness of state and average wage, and even then the data doesn't look like it is plateauing.
Missed this part, linked to from the article?
https://www.pnas.org/content/107/38/16489.abstract
Or the fact that "non plateuing" still shows clear diminishing returns...
Why exactly do you think e.g. 10 million will make you any happier than e.g. 5 million (never mind anywhere close to double as happy)?
Give a minimum wage job a try for a couple of years and afterwards let me know if you still believe in that.
That's because you confuse wants and needs. Both the historical understanding of the terms and the dictionary definition are different.
Little things like that..
Also, inventing is not enough, you need to "develop".