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Money vs happiness
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Money vs happiness As we all age and start planning for different stages of our lives the one question that still comes up is does money buy happiness. However after reading the following insert in money USA today What makes retirees happy. A study from 2013, the Moss National money and Happiness Study, revealed that the happiest retirees do not have a mortgage, or they have nearly paid it off. On average, 36 percent of happy retirees will have their mortgage paid-off within the next eight years, compared to only 24 percent of unhappy retirees. What's so important about your mortgage? According to Wes Moss, author of “You Can Retire Sooner Than You Think”, your retirement income from Social Security, a pension and savings is static. When your mortgage is paid off, more income is available for what you really want to do. In addition, a study sponsored by Ally Bank showed that 84 percent of respondents acknowledged that saving for a rainy day makes them feel more in control of their lives, leading to an overall sense of well-being. And a majority said specifically that adding to their retirement account gave them a sense of accomplishment and made them feel proud of themselves. One other bonus for retirees: time spent commuting lands at the bottom of the happiness scale. So once you retire your E-Z Pass or commutation ticket, your happiness quotient increases. a thought occurred to me if people could afford to own their homes at an earlier age would people be more happy thus creating different expectations and happiness? Let's here your thoughts? Biunicorn |
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I am happy happy happy but as you know there is always taxes  and the prices going up up up !!!! Lord help me somebody told me yesterday his social security lets him earn 14,000 a year pentaily free and I should step right up to the trough and get my share before the rest of us greedy ass baby boomers takes it all . I told him I can't work and the mear thought gives me the hebe geebees and also I would hate to take the job of someone who needs it . What about them ? " Fuck em" was his reply he said he still has two kids in college and ..... Well your poor planing Didn't you ever hear the story of the Ant and the grasshopper ? I asked . Well he threathen to beat the snot out of me right then and there . Them Grasshoppers are a touchy bunch . High strung I would say 
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I vaguely remember from business school that there is a formula out there for money and happiness. And that it's a bell curve. Logically when all the basic needs are met and enough left over to cover some wants then it does bring happiness. That's how having no mortgage or paying off a mortgage helps. But if you have enough money that anything you want is yours then there is no personal value in anything - no sense of accomplishment etc. Thus the happiness quotient drops. And here's a cute diagram I found: [image]
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Im OK..I don't worry about money..I enjoy life and it's simple pleasures!!
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when i hit 80 i will be able to ski free @ every ski area in the US, my kids will buy me a cute lil RV that hold me and my skis and i will travel the map back and forth and shred snow til i croak! "and you can take that to the bank" 100pts if you can identify the quote 
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I have enough in my retirement accounts for a very comfortable retirement -- but between now and then things are kind of tight. I made a lot of money in my 20s through a combination of hard work and good timing, and set up retirement plans in my 30s, still leaving a lot for the present. But near the end of my 40s, some of my non-retirement investments went bad, leaving me in my current odd state. However, I don't mind being frugal and my wife doesn't either, so we're comfortable with what we have. As for the general question, I think money doesn't buy happiness, but it can definitely buy relief from a lot of sources of unhappiness. Struggling to pay for necessities tends to cause a whole lot of unhappiness. But once one is past that point, happiness depends more on one's inner self.
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Oh, the mortgage question? We just refinanced my old 30 year mortgage, which had about 12 years left, with a 15 year mortgage -- and the rate was so much better that we got quite a bit of cash out for home improvements without significantly changing our payment. As for the article's assertion about debt, I think it's a lot more important to avoid ever having a vehicle loan than to pay off the mortgage. Take transit until you can save up for a vehicle, then buy a beater for cash. Then continue to save up, and buy a decent car for cash when the beater finally breaks beyond repair.
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