How much is enough?

Thu, Jul 15, 2010

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I was talking with my sister the other day and she was unhappy that she is still making 50k at her architecture job which is what she made 3 years prior. 50k to me is a lot of money, and it’s hard to understand where she is coming from that 50k a year isn’t enough.

I can’t remember the book but they interviewed a lot of people and asked them how much they made and how much they would need to make to consider themselves rich. Pretty much everyone gave the same answer. If they made $20,000 a year it would take $40,000 for them to consider themselves rich, if they made $200,000 it would take $400,000 for them to consider themselves rich. Everyone wanted to be making twice as much money for them to consider themselves as rich.

Even though I want to make more money I still consider myself rich. I don’t have to go to a 9-5 job 5 days a week. I don’t have a set number of days off a year. I can do whatever I want and since I believe time is money I am richer then most.

threadsnotdead How much is enough?

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Jon Kruse

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  • curly

    fare enough i think she should be on alot more. 50,000 isnt that much.
    50,000.00 USD = 57,080.18 AUD

    as in australia you would normally start as a junior on 40,000
    architects with 3years experience should be on at least 70,000

    average graphic design income. in fashion. 50,000AUD = 43,807.76 USD

    60-70,000 with 3years experience

    but i guess pay is pretty shit in America

  • jonkruse

    I guess everyone thinks they are entitled to make a certain amount of money. This isn't a good market for anyone to have a job and keep a job but that isn't my point. I am not saying that she deserves or doesn't deserve a certain amount of money. I am saying if she made 70k she would want to make 100k. She will always want more, and that is how most people feel.

  • Javaboi

    Forbes defines rich at “1 million dollars a year whether you work or not.”

  • http://twitter.com/3stylelife Barry Wright, III

    I really like to think about “richness” in terms of multiple currencies; money is one, time, freedom and mobility are others. Sometimes you need to trade one for the other; sometimes you can increase them all.

  • Marco

    Well said, Jon, well said. That's precisely what i aspire to become when i grow up…self-employed. Currently, i'm on a fact-finding mission, sort-of-speak, gathering intelligence, getting a feel for the terrain before i make my move. Great article, very informative, thanx for sharing.

  • jonkruse

    Don't over think it. Get your feet wet and and learn along the way. You'll never have all the answers before you start.

  • Todd354

    There are sooooooooo many factors here. How much did college cost her? Where does she live…..etc.etc. the list goes on. I've made more and been happy and I've made less and been happy also I've made more and been unhappy and less and unhappy.

    There is lots to consider on how much you make – do you buy your own insurance? Do you live where you work? Do you drive company vehicles? etc etc.

    She very well might have a point that 50k is not that much. Does she have kids? Again lots of questions that I don't particularly want an answer too, but just to consider.

  • jonkruse

    I'm sure anyone can convince themselves that they are not making enough money, it's subjective. My post is about our tendency to always want more and to never be satisfied with what we have.

  • http://twitter.com/BrandedBaron Branded BaronApparel

    It also depends on the lifestyle they are searching for. If simple is what they want, then you can be rich with the amount made per year. If you want to constantly go out, go on vacations, party, eat well, buy nice things, etc. then more money is needed. I know people that addicted and also enjoy the lifestyle, so why would they want to change for something less? People will always want more, especially if they know they can earn more.

  • http://trapanati.wordpress.com WeezMa

    Woulda been much better if you just used the word happy instead of rich, could've avoided all this confusion lol

  • Mike

    I got to agree with you there. I feel as if even if I was making 15 million a year but I had to be putting in 80 hour work weeks and minimal vacation and I don't like what i'm doing then its not worth it.

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