Doubling your Net Worth won't Make you Happier

[Showster]

Do remember to enjoy the journey and treasure time with your loved ones as net worth won't buy you happiness!

 

I remember the time when my net worth was probably 1,000 to 10,000 times lower than today. Those were actually some of the best days of my life as well.

 

Even starting a career years ago with all the evolved challenges faced today, there were many great days I relished as well.

 

Reflect on your changes in net worth. How have they made you feel?

 

 

Although Berkshire Hathaway CEO Warren Buffett is currently worth $91.1 billion, he recently said that having more money isn't the key to happiness. In fact, the business mogul admitted he enjoyed the days when he had a mere fraction of his current net worth.

"I wasn't unhappy when I had $10,000 when I got out of school," Buffett said during an interview with Becky Quick on CNBC's "Squawk Box" on Monday. "I was having a lot of fun."

Buffett said people tend to think that having more money will make them happier. He gave this example: If you have $100,000 and you're an unhappy person and you think "$1 million is going to make you happy, it is not going to happen."

 

Even if you earned that million dollars, your happiness will disappear when you "look around" and "see people with $2 million," Buffett added. "You will not be way happier if you double your net worth."

 

Warren Buffett is worth $75 billion but says he would be 'very happy' with way less  

Instead of letting your happiness be defined by what you don't have or how quickly you make money, Buffett said "you can have a lot of fun while you're getting rich."

Echoing Buffett's sentiment, research shows that people assume having and spending money will make them happier, University of British Columbia psychology professor Elizabeth Dunn explained to CNBC Make It.

In a study Dunn co-authored and published in the Proceedings of the National Academy of Sciences, researchers found that "time is the new essential currency for many people."

"In terms of our happiness, time is really the fundamental currency," Dunn added.

"People do not have unlimited money, so buying one thing means not being able to pay for something else," she added. "Shifting the focus to not just say 'let me make more income' but let me just spend my money in ways that are actually making me happy is a really promising strategy."

In 2017, Buffett said he would be content making $100,000 a yearpartly because he already has an investment that's made him happy: a house he bought in 1958, which he still lives in.

"If I could spend $100 million on a house that would make me a lot happier, I would do it. But, for me, that's the happiest house In the world. And it's because it's got memories, and people come back, and all that sort of thing," Buffett told PBS Newshour.

"The truth is, I have got a lot of wealth, little pieces of paper [that say] Berkshire Hathaway on it. They are claim checks on all kinds of goods and services in the world. They can buy anything. I can buy 400-foot yachts and have 20 homes and all that," Buffett said. "I wouldn't be happier."

 

[kdash]

1st vote and 1st post! 

 

call me unambitious but i always seek to be happy with what i have. 知足常乐... 

[Throttle2]

Lets be very honest here.

 

I choose No.2

Yes i think happiness will increase as certain things which require money can be better managed.

But in terms of happiness doubling, i really dont think so.

 

True long term happiness cannot be bought, i am sure we all agree.

[Jamesc]

Maybe happiness won't double

 

but bank account certainly will.

 

Anyway I hope someone wins the 12 million

 

and is kind enough to give 1% so I can feel

 

1% of how happy they must be feeling. 

 

  

[Hoseyboh]

You can choose to double, triple your net worth here ya....

 

https://www.channelnewsasia.com/news/singapore/cash-vending-machine-stunt-at-raffles-place-cut-short-after-9998908

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https://www.facebook.com/ChannelNewsAsia/videos/10155399278787934/

[F355]

The happiest days of my life were uni days when I stayed in hostel . SInce I had no income yet , my net worth was then zero .

 

Fast forward 30 years , OK la I am now worth a lot more but comparatively life was not as fun as compared to back then .

 

But , er....I still much prefer now where I had money and not as happy as compared to very happy back then but no money . 

 

Lets be practical !!  

[Myxilplix]

If i double my net worth, i'd have a net worth of 2 dollars.

 

I don't think it'll be enough to make me happier.

[Brass]

If i double my net worth, i'd have a net worth of 2 dollars.

 

I don't think it'll be enough to make me happier.

My net worth in in the negative...so no,i don't want to double my net worth,for that I would be deeper in debt.

All I want is for people to rob me,so that I can start afresh.

[Enye]

 

Do remember to enjoy the journey and treasure time with your loved ones as net worth won't buy you happiness!

 

I remember the time when my net worth was probably 1,000 to 10,000 times lower than today. Those were actually some of the best days of my life as well.

 

Even starting a career years ago with all the evolved challenges faced today, there were many great days I relished as well.

 

Reflect on your changes in net worth. How have they made you feel?

 

 

 

Although Berkshire Hathaway CEO Warren Buffett is currently worth $91.1 billion, he recently said that having more money isn't the key to happiness. In fact, the business mogul admitted he enjoyed the days when he had a mere fraction of his current net worth.

"I wasn't unhappy when I had $10,000 when I got out of school," Buffett said during an interview with Becky Quick on CNBC's "Squawk Box" on Monday. "I was having a lot of fun."

Buffett said people tend to think that having more money will make them happier. He gave this example: If you have $100,000 and you're an unhappy person and you think "$1 million is going to make you happy, it is not going to happen."

 

Even if you earned that million dollars, your happiness will disappear when you "look around" and "see people with $2 million," Buffett added. "You will not be way happier if you double your net worth."

 

 

Warren Buffett is worth $75 billion but says he would be 'very happy' with way less

 

Instead of letting your happiness be defined by what you don't have or how quickly you make money, Buffett said "you can have a lot of fun while you're getting rich."

 

Echoing Buffett's sentiment, research shows that people assume having and spending money will make them happier, University of British Columbia psychology professor Elizabeth Dunn explained to CNBC Make It.

In a study Dunn co-authored and published in the Proceedings of the National Academy of Sciences, researchers found that "time is the new essential currency for many people."

"In terms of our happiness, time is really the fundamental currency," Dunn added.

"People do not have unlimited money, so buying one thing means not being able to pay for something else," she added. "Shifting the focus to not just say 'let me make more income' but let me just spend my money in ways that are actually making me happy is a really promising strategy."

In 2017, Buffett said he would be content making $100,000 a yearpartly because he already has an investment that's made him happy: a house he bought in 1958, which he still lives in.

"If I could spend $100 million on a house that would make me a lot happier, I would do it. But, for me, that's the happiest house In the world. And it's because it's got memories, and people come back, and all that sort of thing," Buffett told PBS Newshour.

"The truth is, I have got a lot of wealth, little pieces of paper [that say] Berkshire Hathaway on it. They are claim checks on all kinds of goods and services in the world. They can buy anything. I can buy 400-foot yachts and have 20 homes and all that," Buffett said. "I wouldn't be happier."

wah you comparing yourself to wb

 

you must b a billionaire yourself

 

 

[Jamesc]

If i double my net worth, i'd have a net worth of 2 dollars.

 

I don't think it'll be enough to make me happier.

 

I can give you $3 and that

 

would quadruple your net worth.

 

Would that make you happier?

 

[Showster]

Laoban, here many people also have the same reflections leh.

 

All billionaire mah?

 

For me I would be slightly happier with double net worth but I also worry more about lifestyle costs doubling. My choice is similar to T2?

 

 

wah you comparing yourself to wb

you must b a billionaire yourself

[Ash2017]

I fear there is a misunderstanding.

 

I learnt the following:

 

Life is filled with ups and down.

Nothing last forever including suffering (there will be intersperse with periods of happiness in between) and happiness.

Each part of lives, happiness is definite different, when we are a baby happiness is food and sleep, then a school going kid - happiness is play and love received from everybody around, happiness is relationships and ego (fame) when we are in our teens and maybe even in early adulthood, then working life - happiness may be definite as successful career, financial independence, volunteering work, family and later life - see all children grow up, being mobile and health.

 

Happiness is a process / journey. Happiness is for some but suffering for others.

 

 

My motto in life: Live each day like it is your last day. Be responsible and do something rewarding. Dont hold on to your past - because it holds you back. Dont compare because we dont know what the other person may be suffering. Dont worry about death, it will come and it is a matter of when. Always have hope - we plan for tomorrow as if it is a sure quarantee that we will wake up tomorrow. Find happiness from the simplest of things.

 

 

Good luck and live a fruitful life.

 

 

 

 

[Ake109]

The point is that time is happiness is correct. And increasing my money enables me to have more free time if I can quit my job. 

 

This guy is a 0.0001 percenter so his yardstick not same as normal mortals.

[Spring]

I also vote no. 2 cos money does bring some form of happiness but obviously there are lots of things which can bring u happiness which money can’t buy like family, friends, health, inner peace, religion etc.

 

That’s why it’s important to set aside quality time in pursuit of other areas in life rather than the chase for $. By all means, pursue your career, business with time n professionalism but do take a step back to smell the roses n remember there is more to life than $, my 2 cts.

[Evillusion]

A billionaire can say sheet and all will believe because everyone wants to be in their footstep. When Warren Buffet and Jack Ma says something everyone takes it like the holy grail. Tell Warren Buffet to give up his billions if he wants to be 'happy' like last time lor.......easy to say when he has the fortune!

[Showster]

A billionaire can say sheet and all will believe because everyone wants to be in their footstep. When Warren Buffet and Jack Ma says something everyone takes it like the holy grail. Tell Warren Buffet to give up his billions if he wants to be 'happy' like last time lor.......easy to say when he has the fortune!

Relax brudder. You can also vote against what he says through option 1. Money doubles or more than doubles one’s happiness.

 

Billionaire doesn’t mean he is right. But it’s a good point to start since he has shown “Been there, done that.”

[Evillusion]

Relax brudder. You can also vote against what he says through option 1. Money doubles or more than doubles one’s happiness.

 

Billionaire doesn’t mean he is right. But it’s a good point to start since he has shown “Been there, done that.”

i have heard many things....this kinda feel good talk cheeses me off.

A few yrs back my wife auntie was telling his son about 'result not important, important thing is doing the things he enjoys and loved, no degree also nevermind'. I butted in asking who said that....she said, her friends....then i asked, what are her friends children doing.....she said most of her friends children are in Universities.....haiz! We are truly living in the age of hypocrites...

[Showster]

It's not about feel good talk.

 

Neither are we or WB going to stop trying to increase our net worth just because doubling it doesn't double happiness. Just pragmatic and not hypocritical, not advocating to stop increasing net worth. 

 

It's just the thought that it's important to prioritise on what is important to us and not be sidetracked just pursuing net worth.

 

I have a close (by relation) relative that I only meet once a year. Already 60+ years old but he is on standby almost 24-7 in a lucrative business just to increase his net worth. I always ask him if it is worth but he feels it is the only thing he can do. You can't even buy half a day of his time...

 

 

i have heard many things....this kinda feel good talk cheeses me off.
A few yrs back my wife auntie was telling his son about 'result not important, important thing is doing the things he enjoys and loved, no degree also nevermind'. I butted in asking who said that....she said, her friends....then i asked, what are her friends children doing.....she said most of her friends children are in Universities.....haiz! We are truly living in the age of hypocrites...