Personal Development Fact #3 Keep In Mind...
Personal Development Fact to keep in
mind. Item #3..
While money can buy happiness to an extent, studies have shown that after $75,000.00 per year, the increased income does little to boost happiness.
OK, How is that? First off, that number can be somewhat variable because of the cost of
living, specific to the area where you live. But the idea is generally valid, and you can see that on average, 75 K isn't that much. So here is the deal. Once you start climbing the income ladder, you fall into the trap.
The trapis defined as doing any number of actions to try to keep it,so you aren't taxed to death on it. You start spending large amounts of time managing the money, then the money
begins to control you. You then fall into the trap of spending more and more money to make more and more money. While it is good to employ people, you really can't afford to pay them a decent amount of money, because you don't have enough, yet. Some day you will, but not yet because you are still behind the 8 ball, financially because all of your money you are spending to making more more money is simply and investment.
Any money you spend when you are beyond that 75 K is really just an investment. Question is this, how much can you afford to invest? If you are working say, 80 to 90 hours per week, what kind of life is that?
But the real thing to consider is this; Return on Investment. You have to ask that question, is my investment giving me a decent return on my investment? If it isn't then you might need to reconsider your investment choices.
However, the 75 K really is in reference to a wage structure. So the whole concept here refers to a wage, a 75 K wage. Income from self employment of a business nature where you have a mega business where you can delegate and so forth is another discussion. Later on I will do
a discussion on how this applies in business.
Moral of this story; Balance you money desires with income and a quality of life. More and more is not always more.