
DHH: Extreme wealth is overrated - tedsuo
http://www.vox.com/2015/12/28/10416590/millionaire-overrated
======
Mz
_First, as long as your basic needs are met, your happiness is only vaguely
related to material success._

This is true. Another thing that is true is that many people have difficulty
figuring out how to meet their basic needs, even when they have lots of money.
Meeting basic needs is mostly not about money per se. It is about the fabric
of society working well. It is about dealing with human needs that go beyond
physical sustenance.

Also, wealthy people can have "dozens of friends and the fun never ends --
that is, as long as I'm buying." People can become poisoned by that
experience.

Another thing he doesn't really touch on: There is a big difference between
making your wealth and winning it. About 2/3 of lottery winners are bankrupt
within five years and it often just ruins their life.

~~~
ksec
Yes, the problem with todays's world is that we have a basic needs which also
happens to be one of the most expensive things, housing.

If everyone could afford some sort of flat, large or small, then yes. But the
problem is there are parts of the world where property market are basically an
monopoly.

------
Futurebot
“So I won’t even pretend to know that struggle.”

Let’s try some ideas about what that million can buy one (particularly in dog-
eat-dog, every-man-for-himself America), beyond even just the basics like food
(though depending on the environment you were raised in, one’s definition of
“basics” may differ). Some come from my own experience or those I’ve known:

\- The ability to stay in the place you were born without getting priced out,
or the ability to move out of your crime-ridden neighborhood or dilapidated
apartment that happens to be very cheap.

\- The ability to attend university without worrying about debt or having to
drop out due to living expenses. It also means you can focus on your studies —
achieve immersion — rather than thinking about whether you’re going to be able
to pay that electric bill this month.

\- The ability to say “no” to bad jobs when you otherwise might not be able
to. We call it “FU” money, but it could also be called “Ability to say no to a
bad deal” money.

\- The ability to stop working for an extended period of time so you can re-
skill or upskill, rather than spending all your after-work time doing so,
which slows down the process and may not always be possible if you’re working
long hours. Web development boring? Drop out for a few months and learn
Machine Learning. Hate working at Starbucks? Stop for a year and learn to
code, learn marketing, or learn about whatever more lucrative thing you want
to do.

\- The ability to stop working and focus on what you really like to do full-
time. Write open source software, make art, work at that risky startup that
you believe in, or work at that low-pay animal shelter that means so much to
you.

\- The ability to stop worrying about aging out of your profession. You can
re-skill or change careers altogether.

The most important, and perhaps unappreciated benefit is the ability to stop
constantly worrying about money. To stop having to think about it all the
time. To stop waking up in the middle of the night worrying about getting laid
off, about your company shutting down, whether you’re getting too old for your
profession, or about whether it’s a “good idea” to leave that miserable
relationship where the other person happens to be helping by paying half the
rent and bills.

The thing that million can buy you is something that’s worth more than the
million itself, and it has nothing to do with any buzz, but it’s something
only the money can get you: the simultaneous feelings of freedom and safety.

As he states, he never had to worry about the basics being taken care of, so
that might reflect his equanimity about his wealth now. The article also shows
what a country willing to truly support its poor can do right out of the gate;
Denmark's #1 on OECD's social mobility index (as per the Economist, in
Denmark, a poor child has twice as much chance of making it to the top
quintile as in America.)

~~~
tw04
I think you grossly overstate what $1 million can buy. While it is absolutely
a cushion... it's not the freedom you imply. 10 years of "taking time off"
looks great on paper, until it's time to get a job again. When you've got a
gap like that in your employment resume... you're just begging for trouble.
And 10 years is probably quite gratuitous depending on what part of the
country you live. That $1 million might be less than 5 years of living
expenses...

~~~
Futurebot
I never said 10 or even 5. My examples are "a year" and an extended period.
It's possible you assumed that latter statement meant 5 or 10, but I was
personally thinking 3-5, which it would absolutely cover. Either way I don't
think I've grossly overstated, or even mildly overstated anything.

------
krisdol
Seems like the article was already removed just under an hour after being
posted.

Google still has it cached though.

~~~
Futurebot
Maybe it went back up? I still see it.

~~~
krisdol
Looks like it. It was 404-ing earlier, but it was definitely an issue on their
end (since it was a site-specific 404 page).

------
serge2k
Give it away then.

