If money (i.e. the external, material success) played no part and it was all about time you could just retire to a cabin in the forest to have all the time and none of the money till the day you die. That's because you already have time and you get more every day.
But happiness and money aren't necessary orthogonal. If you're unhappy then money can't make you happy but if you're happy, money can amplify that and make you more happy.
Money first gives you more options to do what you want but ultimately it gives you power. And power gives you leverage to change the world: first your own world and then the whole world. In other words, with money, you can do more and you're happier for that.
However, that doesn't work if you don't know what you want and you only want things to become happy.
You first need to be happy with what you have in order to be in the position where you can want more. Then you can use money the right way, almost as a beam of power to change things around. But in order to be equipped to do that you need to be on clear yourself: you already need to be happy not because of money, and you can no longer need the money to validate yourself at that point. You must have had accepted who you are because if you haven't, you can't be happy either.
>Money first gives you more options to do what you want but ultimately it gives you power. And power gives you leverage to change the world: first your own world and then the whole world. In other words, with money, you can do more and you're happier for that.
That's not how happiness works. You don't become happier because you can do something or change something with money.
That said I disagree with the last paragraph on 2 points. People can know what they want whilst being unhappy. Often seeking XYZ is the source of unhappiness.
Additionally there is an additional external source which is important to note; what people around you have. This is know to effect peoples happiness. If a person see's people around them with more/less this creates a level of expectation to the 'metric of success' people judge them-self by.
>Money first gives you more options to do what you want but ultimately it gives you power. And power gives you leverage to change the world: first your own world and then the whole world. In other words, with money, you can do more and you're happier for that.
Sort of. So does time. If you have plenty of time you can learn anything. Most people have to get on with real jobs so can't devote the time to being the best guitar player in the world or whatever they would rather be.
Money, to an extent, buys time. That's the main reason I pursue it.
The issue is that most people seem to leverage their money to the hilt. They earn $10,000 more, they spend ~$10,000 more. I can see money making you less happy in that situation, because you now face more downside risk if the money goes away.
Whereas if you earn $10,000 and only spend $0-$1,000 more, then you have options, including the option to not do anything to earn money at some point in the future.
The above is a version of the Mustachian philosophy, but you don't need to cut spending to a bare minimum to pursue time. Nassim Taleb argues for "fuck you money", and has written skeptically of the "money doesn't lead to happiness" idea. For him, self-ownership and independence of money is the key. The main purpose of money is not to spend most of it, to have a reserve.
People often ask how my business is going by asking if it keeps me "busy". They're using the wrong metrics.
I think spending money is the wrong way to go about getting the things you want out of life.
Earning money is very inefficient - You have all your costs of education, of finding a job, of getting to work and the biggest one - the taxes you pay.
Then spending money is inefficient too, because whenever you spend money someone is making a profit, taking their bit off the top.
So rather than using the inefficient money-as-a-middle-man I think you're much better off to just go straight to what you want - time in this case.
Just go to work less, have less money, and you'll magically have more time - and in fact it will be more time that if you tried to earn/spend money to "buy" that time.
>Earning money is very inefficient - You have all your costs of education, of finding a job, of getting to work and the biggest one - the taxes you pay.
In the states you're forced to attend school until a certain age, you can also skip grades if you're ahead of the pack. Finishing high school / college might relate to long term potential income, but that's statistics. For instance, I was selling online gold for a few months and easily made what my first full-time job was in half the time.
>Just go to work less, have less money, and you'll magically have more time - and in fact it will be more time that if you tried to earn/spend money to "buy" that time.
While this is likely to be true, think about what money affords. It's the ability to have experiences easier, with less stress financially. Seeing plays, movies, traveling, dining at famous restaurants. This will depend on what a person wants to do with their time and what they enjoy, but money makes some of these experiences accessible or cuts down on time needed. Think about traveling to certain countries. People have made trips never using planes, but the time it takes is magnitudes longer (again, maybe some people rather boat the entire way).
This wrong, if you think about it. Division of labour and using other peoples capital(Equipment).
1 hour of developer time, could be used to leverage 5 hours of cleaner time. And the cleaner would most likely be more efficient at cleaning than you requiring less time.
If division of labour didn't work, then the whole basis of trade is wrong. You might as well do everything yourself.
I'd love it if the work I'm interested in wasn't generally a boolean 5*8hrs/day/week or unemployed. Most people don't have the luxury of a work/free time slider.
(I could freelance, but I don't think that would end well for me.)
> I'd love it if the work I'm interested in wasn't generally a boolean 58hrs/day/week or unemployed. Most people don't have the luxury of a work/free time slider.*
I think you'd be surprised if you asked your boss for unpaid leave. Start with a few weeks a year and slowly ramp it up. You boss will be happy because it will be easier for her to make budget.
I took about 10 weeks unpaid last year, Likely it will be 12 or 15 this year.
And we are entering an age in which money can buy time in a much more useful sense, via medical means of treating the consequences of degenerative aging. At the moment that means funding the research, but later it will mean buying the therapies. If you have money, better to put it into stage 1 (research) now rather than waiting around for a stage 2 (treatments) that will only show up after enough is done in stage 1, though.
I grew up poor, so it was pounded into my head from an early age that you should acquire money to free yourself from the hassles and stress of poverty. So, by virtue of hard work and a lot of luck, I did so.
Now, I 'work' about 5 hours a week from home for an insane salary. I sleep in every day, and have no real schedule to keep. I want for nothing material, but I struggle to fill my time so that I don't get bored. There are only so many books you can read, so many musical instruments you can become proficient at, etc, before keeping yourself busy becomes a job in and of itself. All my friends work typical 9-5 jobs, so I can't just call someone up and ask them to meet for lunch/drinks somewhere. I thank my lucky stars for my wife's company, otherwise the isolation would be too much to bear.
I've been doing this for years, and what I've learned is that for me, happiness == other people. Not time, not possessions, not fast cars, people. Specifically, people that I like (of course). Because people bring continual novelty to my life, and that is what my brain craves.
Now if I could only start a business with people that I admire. Too bad no one else has any free time.
Have you considered getting involved with charity work of some variety? I enjoy playing instruments and reading and so on as well, but it can be extremely rewarding to take the focus off yourself and try to help another person out.
I've volunteered a few hours here and there to answer phones for a group related to addiction. On one shift, I had somebody reach out for help at an extremely low point in her life - she was so upset that she could barely speak. It only took me maybe half an hour to arrange for her to get help, but that experience has really stuck with me.
If you came from a low-income background, why not try mentoring some disadvantaged kids? Point them in the right direction, be an example to aspire to, teach them a few things. You might wind up changing somebody's life for the better.
You should check out the fourth part of the four hour workweek: filling the void. What you're experiencing is a common issue, and that section has some useful ideas.
You might also consider relocating to a place where people live as you do. In the neighborhood of Montreal I live in, it's very normal for people to work irregular hours, and the streets and cafes are full of people during the workday. I'd feel incredibly isolated in a typical neighborhood that emptied during the 9-5.
I was reading through the comments and was thinking exactly what you have concluded. I currently spend my time horribly inefficiently, so I shouldn't be the one to complain. The problem for me is that I've chosen a task that shuts almost everybody out of my life (unless I give up or I can muster up the focus and discipline to progress). I am also unemployed, which really further shuts people out of my life. I'm not busy at all, yet too busy to build relationships because I won't get my work done.
I also feel like, at least in my field and the fields I am interested in, that you NEED other people to grow. Even if you are sitting alone just reading books or online resources, that is still using something created by other people. On the other hand, I am sure there is some raw creative power in complete isolation, it's just not a productive nor quick way to progress.
Anyways, my loneliness is definitely the most urgent motivation I have to work towards growth, employment and subsequently money for me to spend on making myself more socially appealing and probably a more efficient user of my time.
Well, you don't have to have an insane salary to have this problem either. I had the same problem when I worked as a part-time math tutor post-college. <$15k/yr, but single, no debt, and I lived modestly. Basically the three people who could spend any time with me were two who lived basically the same lifestyle, and one who was a teacher and thus (briefly) free during summers.
Nowadays, I work (and make, thankfully) much more than that. But even working startup hours, I still find that the majority of my friends have no free time. What they don't spend at the office, they spend fixing the big houses they own.
Busy-ness is such a disease in today's culture; no-one gives themselves time to live, and when they do, they are forced to feel guilty about it, either implicitly or explicitly, by their co-workers or employers.
There's really no point in thinking of the question of happiness from this perspective. Everyone tries to logically plan out a path to contentment, happiness and satisfaction whether it be through making a lot of money or other means. The reality is... we're not biologically programmed to ever reach that state.
As humans we're creatures of natural selection. Our physical bodies are competitive machines built through eons of evolution. For the same reason our minds have also been honed into competitive machines, designed to never feel satisfied and to always aggressively seek and want more. There is no competitive advantage to a mind that is perfectly content or happy, that is why you will rarely find a person who has truly reached this state.
Simply being aware of this fact will also not lead to happiness. Too many people feel the solution is as simple as changing their state of mind. Simply changing your life philosophy and telling yourself to want less and to lead a simple life is not a viable solution. In the end doing this is just trying to force your mind to deny fundamental biological imperatives. It's like telling yourself to not be hungry. It is imho fundamentally impossible to remove your desire for money if all your peers are making 10 times more money then you.
The last sentence in the previous paragraph is the key to happiness. Your biological drive to compete is actually tied to the people/environment around you. Your environment and culture dictates not only your drive to compete but the nature of the competition itself. In the corporate world people compete for money, in the military, they compete for ranks. As a result, the key to happiness is really simple. If you're not happy, change your environment.
Move to an environment where people don't compete as much. By being in a culture that is not that competitive your drive to be compete will also fall proportionally. Changing your environment changes your nature. You cannot live in a competitive environment and change your nature through sheer willpower alone, you have to change your environment and that in turn will change your nature; and possibly increase your capacity to be happy.
The perfect example everyone can relate to is the shift from student life to corporate life. As the nature and intensity of the competition from student to employee metamorphosed into another form, your capacity to feel satisfied and happy also dropped significantly (at least it does for most people).
> Among individuals in a society, busyness—or the feeling of busyness—seems to be an important factor in well-being.
Busyness keeps your mind off things you'd rather not deal with.
When things slow down, you are forced to look at yourself, which often shows you just how insignificant and miserable you really are, and how repetitive, ultimately pointless, and totally egotistical everything in your life is/was (not to mention all the mistakes you've made and all the opportunities you let go).
But when you are constantly preoccupied with work, entertainment, ideologies, conflicts/resolutions, problems/solutions, identity building, validation, success, social status, drugs/sex/food, going out, having lots of options and avenues, etc, you tend to feel otherwise - as you are operating in a mode that is somewhat oblivious to the mess your inner core really is.
I think money is a tool. Tools don't make you happy by themselves, it's about how you use them.
If you're using money to buy more and more stuff that you don't need, then no, it won't make you happy.
But if you're using money to off-load tasks you don't like, so you have more time to spend on things you do like ... well then. Money can suddenly make you happy.
Yes, it's about time. Sort of. But time is a finite resource. You only get so much. Money, however, is a renewable resource. Which means you get to leverage it against the finite resource.
But while this is painfully obvious to me, I have always had a hard time explaining the concept to others.
I know I enjoy making a large salary, then I can (for example) hire a maid to clean my apartment, saving my time. That's more-or-less my rational for money improving happiness.
The article doesn't mention anything about age. Age predicts happiness[1] as well as walking speed. I suspect it predicts economic performance, although I don't have any references. It's certainly common for young people to migrate to large cities with strong economies to find work [2].
Were there controls for the average age of residents? The original paper[3] doesn't mention controls or age at all. This seems like a major issue to me.
If you are a maximizer, you tend to want to live in a place like the City that has the best of everything. By definition, if you are searching for global maximums (at least in that city), you will be missing out. You can never be (always) at the best restaurant/party/social scene/conference/park. However, if you are willing to be more chillaxe and relax your guidelines, you can be more happy. A party at a chill lounge with friends. A picnic in the park surrounded by people of all ages having fun.
Likewise, people who tend to move to the suburbs tend to maximize for their kids, rather than themselves. It is ok to go to Chuck E. Cheese or T.G.I. Fridays' on a Friday night (or the modern equivalent) since there are limited options. It is ok for the kid to start crying in public. You are where you are now.
> Perhaps the higher reported rates of happiness simply reflect the fact that faster places have more robust economies. But the relationship between income and reported happiness is far from obvious. According to the “Easterlin paradox” (named after economist Richard Easterlin), once people have enough money to meet their basic needs, having more money is not necessarily correlated with higher self-reported happiness.
This is pretty thoroughly debunked. I don't think there is any debate on this.
Even lighter interpretations that it taps out at quite high figures ($80,000+) I'm pretty sure are also found incorrect.
Last I saw happiness slows a fair bit around $80,000 but still continues to increase with wage.
Places that are faster also allow more experiences. Experiences are known to be linked to happiness. Throw in better economies I think this is more logical.
Levine’s work raises the intriguing possibility that an individual’s feelings about their use of time contribute as much or more to their happiness as does economics.
This seems like common sense. I know I wouldn't mind working or even not having as much financial freedom as I'd like as long as I found my work fulfilling and important. The problem is most jobs are unfulfilling and pointless. That's why you see a deluge of applicants for jobs at Google and Facebook while others go the startup route.
Here's where money comes into the picture. If you don't want to move to SV or start a company you don't have any other option than to trade your time for money. The key is to minimize that amount of time.
money === time. If I had 20 million dollars, I could spend all day doing whatever I wanted to without having a care in the world. If anything is happiness, that is happiness. The distinction is meaningless.
My personal definition: when you are getting paid to do essentially the same as what you would be doing if you had 20 million dollars and no obligations.
I think it's a state of being. Pleasure and pain are temporary feelings. Perhaps it's achieved differently by different people. I don't care how other people achieve it or even if it's irrelevant to their goals. To me, happiness is freedom from stress and control of my own time. It really is that simple, and money buys it. Others may not be like that, but I am. As someone who nearly has enough money to live the rest of my life without stress or need of a job of any kind, I can say I have gotten happier and happier every day that I've gotten closer. In the next year or two I should be totally free and happy to live the rest of my life without a worry in the world. Perhaps in 5 years I'll report back on how I'm doing.
Money is a metric of external success.
If money (i.e. the external, material success) played no part and it was all about time you could just retire to a cabin in the forest to have all the time and none of the money till the day you die. That's because you already have time and you get more every day.
But happiness and money aren't necessary orthogonal. If you're unhappy then money can't make you happy but if you're happy, money can amplify that and make you more happy.
Money first gives you more options to do what you want but ultimately it gives you power. And power gives you leverage to change the world: first your own world and then the whole world. In other words, with money, you can do more and you're happier for that.
However, that doesn't work if you don't know what you want and you only want things to become happy.
You first need to be happy with what you have in order to be in the position where you can want more. Then you can use money the right way, almost as a beam of power to change things around. But in order to be equipped to do that you need to be on clear yourself: you already need to be happy not because of money, and you can no longer need the money to validate yourself at that point. You must have had accepted who you are because if you haven't, you can't be happy either.