Yep. It’s much better to focus on your quality of life right now, while keeping an eye on the back of your head for the future but I saw so many people just sacrificing everything to get that extra 20% salary, without realising inflation catches up to it faster than you get raises.
I want the salary that allows me to be independent, take care of my family and have time to spend with them, and that doesn’t involve crushing my soul. Living life as happy as possible right now is more important than whatever magical number you think will solve all your problems. Personally I’m trying to achieve that by being a freelance in a passion field.
It depends where you live but it was figured out to be about 110k a decade ago on average in the US. Where I live that sounds pretty close maybe 140. However, I am biased since I truly don’t want to own a house. Would rather rent.
I actually like my job, and the salary is enough for me and the rest of my household to live off of while making down-payments on the house and the car. Now, if only I was a happy person…
Putting that much money into circulation would cause hyperinflation and then a gallon of milk would cost 10 quintillion dollars and you’re back to square one.
Honestly? If I won the lottery today I would still work. I really really enjoy my work. It keeps me focused and motivated. My problem is having my livelyhood tied to the wims of a chaotic prideful coke filled VC
I enjoy laboring. I do not enjoy working for others.
I’ve got endless amounts of side projects that I never have enough mental energy for because the job saps it all.
When I got laid off last year I had about a month between jobs where I got to just do whatever I wanted. After about a week of decompressing I started working 5ish hours a day on side projects, because I wanted something that was more mentally stimulating.
USD. I am using the 4% rule that states you can withdraw 4% of you investments annually and never run out of money. This assumes an average 7% market return and has a buffer for inflation and fluctuations. 400k per year is about double of what my wife and I make, so it woild allow us to have a cushy lifestyle.
Even a million would be enough for me there. That would give me average yearly income of 70k. That would maintain my current level of living and I’d probably just keep getting wealthier still.
Once your basic needs are met, the equation becomes: Salary = Expenses + Savings. So, the questions becomes, how much savings makes you happy?
If you are happy to work in your job until “retirement age”, a small savings rate will do, in theory; that is if the salary is adjusted for cost-of-living and tax.
Are you happy working this job for the rest of your life? Full time (whatever that means in your work culture)?
Yes, I’m lucky enough to have a good salary, but I can tell people there is no top limit. Once you have your needs met then you’re exactly right, it’s about retirement planning and savings, and there could always be more. The fact is that the only true money amount that will make someone happy is the amount that allows them not to work anymore
If I live in 90% of the US, something like $150k would buy me a very comfortable life. If I was in the major cities, I would say $300k would be enough for me to not worry about finances.
It’s not like rural areas are back in a pre-currency feudal era. You still have costs. 150k is very comfortable but you can easily spend it living out in the country, especially if you want to bootstrap a homestead, hobby farm, or just generally make good use of land.
Salary? No. Stipend, yes. Give me enough to comfortably live on and pursue interests and hobbies with no requirement for work. That’s the closest money would get to making me happy.
Universal basic income and universal healthcare so I (and everybody else) don’t have to worry about a job, being able to work, retirement, disability, and employers will have to offer meaning, increased quality of life, and actual respect to attract employees.
These social safety nets would be a huge win for worker’s rights too. If you can tell a job to go fuck itself on the spot, they can’t operate without treating people right.
Honestly, I’d like to double mine (to about $400-500k AUD pa) and only work 40% meaning I’d be on about 175-ish… and it’d be fine. Sadly I can’t see it happening any time soon.
Edit: I know I’m doing well, but I find work super draining and would love to work part-time.
The one I’m on is fine. I dont need more money to be happy. Safety and security matters a shitload more than material stuff, and unfortunately money doesnt guarantee those without a bunch of other lifestyle compromises
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