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deepinsight
Senior Member
Joined: 18/Sep/2006
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Posts: 980
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   Posted: 11/Nov/2009 at 2:26am |
There is fair amount of research which states the correlation between money and happiness tapers off quite soon after most basic needs are met. Meaning more money does not lead to more happiness.
Once the basic ends are met, contentment seems to be a mind game.
Furthermore, even the variables seem common for all - spirituality (looking for meaning), health, family, fulfilling work, hobbies & ways of giving back.
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"Investing is simple, but not easy." - Warren Buffet
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deepinsight
Senior Member
Joined: 18/Sep/2006
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Posted: 11/Nov/2009 at 2:54am |
Here is a good reference to the topic:
Can Money Buy Happiness?
Of course not! Or can it? Surprising new research sheds light on how you can (and can't) spend your way to a sunnier outlook on life.
some abstracts:
The new science of happiness starts with a simple insight: We're never satisfied. "We always think if we just had a little bit more money, we'd be happier, but when we get there, we're not." Indeed, the more you make, the more you want.
"Once you get basic human needs met, a lot more money doesn't make a lot more happiness,"
While earning more makes you happy in the short term, you quickly adjust to your new wealth--and everything it buys you. Yes, you get a thrill at first from shiny new cars and TV screens the size of Picasso's Guernica. But you soon get used to them, a state of running in place that economists call the "hedonic treadmill."
More money can lead to more stress.
You endlessly compare yourself with the family next door. "If you compare two people with the same income, with one living in a richer area than the other," Luttmer says, "the person in the richer area reports being less happy."
Friends and family are a mighty elixir. One secret of happiness? People.
Even more important to your happiness is your relationship with your aptly named "significant other." People in happy, stable, committed relationships tend to be far happier than those who aren't.
Doing things can bring us more joy than having things.
Gilovich suspects that the people who are happiest are those who are best at wringing experiences out of everything they spend money on, whether it's dancing lessons or hiking boots.
Applying yourself to something hard makes you happy. We're addicted to challenges, and we're often far happier while working toward a goal than after we reach it. Challenges help you attain what psychologist Mihaly Csikszentmihalyi calls a state of "flow," total absorption in something that stretches you to the limits of your abilities, mental or physical.
Gratitude exercises help focus the mind on what really matters in life--which for most people means healthy relationships, not fancy new gadgets.
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"Investing is simple, but not easy." - Warren Buffet
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Ashutosh
Senior Member
Joined: 05/Apr/2009
Location: South Africa
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Posts: 226
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Posted: 11/Nov/2009 at 3:34am |
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nice to read all this:
my father managed to give me education and I did well and joined a company in 2005.
I have earned money by salary and company sent me to projects in different countries.
I had the experience of international flight first than domestic flight..thx to company.
The journey of life from travelling in general class railways to business class international is amazing.
Till class 12th living in a small govt. flat with parents and almost no amenities like electricity and for the past few years living in Marriot/Hilton/Westin is an awesome experience.
I have experienced the splurge but in Bangalore
I am kanjoos and live a simple life with 1 BHK ,No vehicle,mostly BMTC bus.
big money is eluding me though;-)
I feel I need to make a lot of money to have a inclusive growth of my family and for me a good house/good home cooked food or good food in restaurant/amenities like tennis/badminton is enough.
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My tastes are simple: I am easily satisfied with the best
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nitin_jagtap
Senior Member
Joined: 29/Dec/2007
Location: India
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Posts: 1283
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Posted: 11/Nov/2009 at 8:15am |
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It's so simple to be happy but so difficult to be simple.
Edited by nitin_jagtap - 11/Nov/2009 at 8:17am
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Warm REgards
Nitin Jagtap
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basant
Admin Group
Joined: 01/Jan/2006
Location: India
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Posts: 18403
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Posted: 11/Nov/2009 at 9:24am |
This is the key point to your story. Really interesting and worth a thought.
Originally posted by Ashutosh
nice to read all this:
my father managed to give me education
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From my experience the devil
lies in the mirror. But it isn't easy.I have been in the rat race and
do not know what is enough.  That is because my definition of enough is
always relative. In January 2008 it was more then I had; in October
2008 it was almost as much as I had in January 2008 and now it is
probably two times January 2008.
I was intrigued to find that Graham left stock investing in the later
years of his life. He said I do not do it now and he only held Geico.
Probably that is because he was not a man of emotions.
All the stock market guys have to learn something out of him. This CAGR business is too tough to put a full stop on. My problem is my work has become my passion or the other way and so it is really difficult to call it quits. Sometimes it is nice to be doing what you do not like? 
Originally posted by deepinsight
Here is a good reference to the topic:
"We always think if we just had a little bit
more money, we'd be happier, but when we get there, we're not." Indeed,
the more you make, the more you want.
While earning more makes you happy in the short term, you quickly
adjust to your new wealth--and everything it buys you. Yes, you get a
thrill at first from shiny new cars and TV screens the size of
Picasso's Guernica. But you soon get used to them, a state of running
in place that economists call the "hedonic treadmill."
You endlessly compare yourself with the family next door. "If you
compare two people with the same income, with one living in a richer
area than the other," Luttmer says, "the person in the richer area
reports being less happy."
Friends and family are a mighty elixir. One secret of happiness? People.
Even more important to your happiness is your relationship with
your aptly named "significant other." People in happy, stable,
committed relationships tend to be far happier than those who aren't.
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Edited by basant - 11/Nov/2009 at 9:28am
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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samirarora
Senior Member
Joined: 11/Jan/2009
Location: India
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Posts: 1037
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Posted: 11/Nov/2009 at 10:33am |
I dont understand why one has to be content AFTER making money... why cant one be content just AS IS.
or is it more profitable for some, to go for people who have money and then tell them to give it up , through methodical brain washing.
why dont these fancy preachers leave their airconditioned lives and go and try and help people in slums, instead of giving fancy advice to weak minded people but who are also capable of 'giving away'...
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NagarajB
Groupie
Joined: 12/Nov/2008
Location: India
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Posts: 54
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Posted: 11/Nov/2009 at 11:17am |
Got a mail few days back.
I Forgot to Live
First, I was dying to finish my high school and start college
And then, I was dying to finish college and start working
Then I was dying to marry and have children, to grow old enough so I could go back to work.
But then, I was dying to retire
and now I am Dying...
And I suddenly realized
I forgot to live
Please don't let this happen to you. Appreciate your current situation and enjoy each day
......Old Friend
To make money we lose health,
and then to restore our health we lose money....
We live as of we are never going to die
and die as if we never lived........
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Regards,
Nagaraj
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gcpradhan1
Senior Member
Joined: 03/Jul/2007
Location: India
Online Status: Offline
Posts: 570
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Posted: 11/Nov/2009 at 11:17am |
Here is another way of evaluating nations (citizens) in terms of Happiness, being different from the usual GDP, GNP.... many other critical economic terminologies.
Gross National Happiness
Bhutan ranks No. 1 in that index. Few a days, back a Japanese Journalist visited Bhutan and he stumbled upon an interesting fact. "In one village, he asked a villager that why there is no electricity in the village inspite of the fact that Bhutan is rich in natural water resources conducive for hydro electricity generation?". The villager replied him that "we are peasants. we leave home in the morning for work and return before the dusk. after supper we go to bed. so there is no need of electricity". they have absolutely no problem without electricity. But if they agree to the Govt proposed electrification, they there will be naked wires everywhere and there is great possibility that birds may get killed due to the electricity. So they opposed to the Govt's electrification idea and Govt. also humbly understand people's concern and stop working on the electrification project.
So where we are in comparison to the Bhutanese people.
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Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years - Buffet
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