Quote:
Originally Posted by pwd72s
One hopes to find a balance. For Cindy & I, a nest egg means security. We don't live lavishly, but we do enjoy life in our own manner. We do feel secure...no debt, and we pretty much live as we like.
What's sad is the person who invests and saves, and once reaching "critical mass", enough wealth to live their chosen lifestyle the rest of their days, keeps on the accumulation kick. We read about them once in a while...with headlines like: "Man worth billions dies, lived in a one room shack."
But even then, I shrug and think that well, that was his chosen lifestyle...Maybe there are those whose final thought is wishing they'd spent more time working.
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+1. This, exactly. There are a
lot of psychological studies that show that once certain basic needs are met, satisfaction from further marginal gains thereafter do little to increase happiness. It's about $75K to 90K per year, depending on where you live. Add in another $20K if you own an air-cooled Porsche.
I had a boss who sort of hit the corporate big-time lottery and was paid a multi-million dollar bonus (grossed up for taxes) when she left her high-paying job ($1M plus guaranteed $1M bonus annually.) We went back many years, and as she steadily climbed the corporate ladder, ultimately ascending to riches, she became more and more unhappy every step. She also changed a great deal--for the worse. It all became about the money to her.
We were good friends once, but I haven't spoken to her for several years. We don't care about the same stuff anymore.