Is it a choice (happiness)? Probably a misunderstanding.
We're designed by evolution buddy, to solve problems, to survive and live.
How much money do you need? Which end of the spectrum does life become meaningless?
Winning $20 M Won't Make You Happy
- Thread starter ironchef
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Is it a choice (happiness)? Probably a misunderstanding.
We're designed by evolution buddy, to solve problems, to survive and live.
How much money do you need? Which end of the spectrum does life become meaningless?
Sorry but I don't agree to disagree with a strawman. There is no contradiction in what I said. Being content is not binary. I do enjoy trading, but I might enjoy something else even more. Maybe I would like to go back to school and study a different field. That would cost money instead of make it, so it would be illogical unless I could afford it. You make it sound like it's always possible to simultaneously do exactly what you want and also make as much money as needed - would be nice if the world actually worked like that.
MattZ
Sponsor
You could win $20M, or $50M but you will not get to keep it because you did not work for it. One way or another it will evaporate. When you accumulate your own wealth you learn life lessons on business, people, situations and circumstances.
Have a story, it feels better, and you may keep what you worked for.
Have a story, it feels better, and you may keep what you worked for.
Grulstmrnn,
I can truly appreciate what you went through to get to this point in life because I was in a similar situation. We are both family men, worked from the bottom up, retail traders in different markets, and majority or sole breadwinner of the family.
I have mentioned this before in a recent post. From 2004 to 2011, I tried day trading many times and failed. From mid-late 2011 to 2013, I put my life’s saving on the line to pursue day trading full time. I cut off all communication with the outside world with the exception of my family and spent 15-18 hours a day studying. In order to save money so that I can buy more time in the market, I went to my parents’ house once a week where my mom would cook a whole bucket of food for me. I eat the same stuff everyday 7 days a week for 2 years. Whenever steaks go on sale for $1.99 I would buy 40-50lbs worth and put it into the freezer and eat it throughout the year. I cut off my health insurance, car insurance, and anything that I don’t need to work or live; I will not spend on it. My only source of entertainment was going out to Redbox on Fridays to rent a movie for a dollar to make myself feel that I actually have a life. I had an excel spreadsheet to keep track of my spending down to the pennies. This was the worst time of my life and I still get emotional today whenever I think about what I went through.
Now in my 8th year as a full time trader, I’m much happier compared to when I was struggling to make ends meet. By having enough money, it buys me time. Because I have enough of it I now have the luxury to choose whatever it is I want to do with my time. One of things that having lot of money make me happy is that it puts me in a better position to improve the quality of life for my loved ones.
I don’t think people are disagreeing with what you are saying. I just think it’s your aggressive choice of words that’s rubbing people the wrong way.
I can truly appreciate what you went through to get to this point in life because I was in a similar situation. We are both family men, worked from the bottom up, retail traders in different markets, and majority or sole breadwinner of the family.
I have mentioned this before in a recent post. From 2004 to 2011, I tried day trading many times and failed. From mid-late 2011 to 2013, I put my life’s saving on the line to pursue day trading full time. I cut off all communication with the outside world with the exception of my family and spent 15-18 hours a day studying. In order to save money so that I can buy more time in the market, I went to my parents’ house once a week where my mom would cook a whole bucket of food for me. I eat the same stuff everyday 7 days a week for 2 years. Whenever steaks go on sale for $1.99 I would buy 40-50lbs worth and put it into the freezer and eat it throughout the year. I cut off my health insurance, car insurance, and anything that I don’t need to work or live; I will not spend on it. My only source of entertainment was going out to Redbox on Fridays to rent a movie for a dollar to make myself feel that I actually have a life. I had an excel spreadsheet to keep track of my spending down to the pennies. This was the worst time of my life and I still get emotional today whenever I think about what I went through.
Now in my 8th year as a full time trader, I’m much happier compared to when I was struggling to make ends meet. By having enough money, it buys me time. Because I have enough of it I now have the luxury to choose whatever it is I want to do with my time. One of things that having lot of money make me happy is that it puts me in a better position to improve the quality of life for my loved ones.
I don’t think people are disagreeing with what you are saying. I just think it’s your aggressive choice of words that’s rubbing people the wrong way.
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That is an amazing story of your journey to become a trader
I am a little confused how you say money itself does not bring happiness but then proceed immediately to give several examples of how having money made you happier. You say it buys time, but as we know time is money. It's almost like people have some kind of conditioned aversion to the whole concept of money being able to bring happiness.
This is a blanket statement that I do not agree with. You are saying that everyone who comes into 20 or 50 million will blow it all.
That is an amazing story of your journey to become a trader
I am a little confused how you say money itself does not bring happiness but then proceed immediately to give several examples of how having money made you happier. You say it buys time, but as we know time is money. It's almost like people have some kind of conditioned aversion to the whole concept of money being able to bring happiness.
Thank you cruisecontrol. U make a good point that i contradicted myself with that statement. I will change what i said.
Having a lot of $ will not make you happy, at best it will give you better resources to optimize your lifestyle. If your not currently following your passions - or don't have any to begin with, than thinking having a lot of $ will change that is just an illusion.
Wise people are well aware that their health is the most important asset they have - not money. Any billionaire on their death bed would gladly give every single dollar they have if it would make them healthy & younger.
Studies on wealth & happiness in the U.S. show those making less than $75,000 are happier as their income rises towards this number - however, no matter how much more than $75,000 people make, they don't report any greater degree of happiness.
"Money isn't real, It doesn't matter. It only seems like it does. Sometimes you're flush. Sometimes you're bust. And when you're up, it's never as good as it seems. And when you're down, you never think you'll be up again. But life goes on." - film Blow
Wise people are well aware that their health is the most important asset they have - not money. Any billionaire on their death bed would gladly give every single dollar they have if it would make them healthy & younger.
Studies on wealth & happiness in the U.S. show those making less than $75,000 are happier as their income rises towards this number - however, no matter how much more than $75,000 people make, they don't report any greater degree of happiness.
"Money isn't real, It doesn't matter. It only seems like it does. Sometimes you're flush. Sometimes you're bust. And when you're up, it's never as good as it seems. And when you're down, you never think you'll be up again. But life goes on." - film Blow
MattZ
Sponsor
We do not have to agree because we all shape our beliefs according to the experiences we go through. I respect your experience as well. Yes, not all will give it back, some will make good choices.
The bigger picture is that coming across large sums of money relative to one's net worth could be very overwhelming and at times lead to bad choices. It can happen in trading when you made huge money over a single trade, or you happen to be in business at the right time, or just win the lottery. Again, I just share my experience and observation and hope that if anyone here strikes big, he/she would make good choices.
Perhaps you are right, but perhaps there are different strokes of blokes. I think we can all agree that life under a certain standard in a society that is as materialistic as the US sucks and that getting above the dashed line makes one happier. Sure. But I think the difference kicks in from there: a lot of guys claim that ever more money makes ever happier, yet they have never been there hence can't really talk from experience. What they talk about is the former, living a poverty lifestyle and then making it to a certain level where they can afford certain necessities. We agree on that part. Beyond that I believe most have no clue what life is like.