Comments on: How Wealthy Are You, Really? Look Past Networth and Cashflow to See The True Meaning of Wealth

By: MoneyEnergy

MoneyEnergy — Fri, 06 Nov 2009 18:11:52 +0000

@Monevator – yes, I think you’re right – I’ve thought about that before, too – after a certain amount of income, the curve levels off and money makes less of a difference. But before you hit that magical point, whoa boy is money ever important. The other things are always important, of course. Not sure that they really wax and wane.

By: Monevator

Monevator — Fri, 06 Nov 2009 15:22:38 +0000

Lovely post. I don’t know how strictly true it is, but I like thinking over the sentiments.

The health component is definitely 100% true, that’s for sure.

Beyond that, more prosaically academics have tried to establish what income people need for more money not to make any difference to their happiness. It’s much lower than what most people guess. Beyond that the stuff you mention is much more important in making people feel wealthy in that wider sense.

By: MoneyEnergy

MoneyEnergy — Mon, 02 Nov 2009 05:39:04 +0000

@FinancialSamurai – congrats on knowing exactly how much you will need and being happy with it. I’m not trying to advocating putting a cap on income with this post – just a nice reminder of the richer form of wealth that is probably what we should always be pursuing at the same time. @paystolivegreen – they say that the more freedom you have, the less security you have, and vice versa. That seems to ring true.

By: pays to live green

pays to live green — Mon, 02 Nov 2009 01:47:22 +0000

I have to agree with this post. If you have this type of wealth, it can make you a much happier person in life. As I now have a job and am making money, I am more worried than ever about my future. It’s a constant struggle as our society makes us feel like we have to have tons of money to live happily, when in fact that could not be furthest from the truth.

By: Financial Samurai

Financial Samurai — Sun, 01 Nov 2009 16:05:19 +0000

MoneyEnergy – It actually gets me excited to project my future income. It’s like a game which I try to win. B/c I know how much is enough, there is an end!

By: Early Retirement Extreme

Early Retirement Extreme — Mon, 26 Oct 2009 20:22:47 +0000

Well, then. You are wealthy in proportion to the things you can do. And you are rich in proportion to the things you do not need to do.

You can take your wealth categories from Maslow’s pyramid.

By: MoneyEnergy

MoneyEnergy — Mon, 26 Oct 2009 19:20:32 +0000

Yes, it’s amazing what can be the happiest of times, isn’t it? I think a large part of it includes not worrying about the future. And when we think about money, we’re always projecting into the future with budgets, returns, future income, etc. so it naturally invites worry to some degree.

By: Financial Samurai

Financial Samurai — Mon, 26 Oct 2009 18:42:14 +0000

Ahh, love these posts that focus on wealth other than money.

I was happiest as an exchange student living off of $200//month. It was the best of times, even though it was 90 degrees in the dorm room with only a rotating fan to keep us cool!