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I know what you mean. It's like no matter what you make, you are always looking and comparing yourself to the next person above you (there will always be one), and thinking you should be there. My first job out of college I felt rich making 35k a year and full benefits. I came from part time jobs making $8/hr. It's all perspective I suppose,
It's not that you are greedy. The problem is inflation. In 2000, you made $50,000, it is the same as $72,000 in today's $. The $70,000 you wanted back then is the same as $102,000 now. $110,000 is only 8% higher than your desired salary but You are probably married now with children so your needs are much more.
I assumed 2.5% annual inflation for my calculations.
When I graduated in 2000, I was making 50,000 a year. At that time I thought if I make 70,000 a year I would be happy. Now I am making 110,000 a year and I am still not happy. Now I think if I make 130,000 a year I would be satisfied. Is anyone out there has the same problem?
I think you've grown accustomed to making $100K+ and "incremental" increases (i.e. merit raise or cost of living raises) aren't going to make you feel the same because as a %, it doesn't feel like much.
Research has shown that we'd be "happy" at $75,000; maybe if you're in California (based on your name), you might need $85,000 or $95,000 to feel the same level of happiness as someone in Montana earning $75,000... BUT, research has also shown that we tend to compare ourselves to our peers.
I suggest you look at your peer group. If you hang around peers who tend to spend large, drive expensive cars, and eat at French Laundry, then you'll feel like you're not as "successful" from a money metric standpoint. However, if you hang around peers who drive a Honda Civic and going to Chipotle is a treat, then you look very well off by comparison. We humans can get competitive and we tend to compete more intensely with close-matched peers in terms of education/earning range.
When I graduated in 2000, I was making 50,000 a year. At that time I thought if I make 70,000 a year I would be happy. Now I am making 110,000 a year and I am still not happy. Now I think if I make 130,000 a year I would be satisfied. Is anyone out there has the same problem?
No, I don't have a problem boasting about my salary in public. I make myself look like an ass in other ways
OP, I think there's been a lot of good advice posted in response to your question. You've gotten several different perspectives on this common phenomenon.
Based on my personal experience with happiness/income/lifestyle, I wanted to highlight these posts:
Quote:
Originally Posted by Pitt Chick
You will never make enough to be happy.
You need to find your happiness elsewhere.
^^This is absolutely 100% true. Happiness MUST come from somewhere other than income. A higher income can certainly make life *easier* but easier does not equal happier. With complete honesty, my husband and I say: "we were happy when we were "poor", and we're happy when we're "rich", but we'd definitely choose to be rich over being poor." KWIM?
Quote:
Originally Posted by Dennis Schroeder
being happy is a state of mind
i was pretty happy when I made $0 and just played with Lego all day
That said a person making $50K and $110K will have structurally the same life. Car payments, food, rent or mortgage, mobile phone, etc. Maybe the $110K person can save some more money each month, or have a slightly better car. But the basic day to day living is exactly the same. In fact the $110K people are usually the most disgruntled because they have been led to believe something magically happens once they "hit six figures."
Really it doesn't change much until you get into private jet levels of wealth. The security line and $5 coca cola is the same for everyone until that point.
^^More truth. The best thing about more $$ is that it *should* give you more control over your life. More options. And options are a wonderful, wonderful thing. Since, like Dennis Schroeder said, daily life is the same, what more $$ should do is lessen the negative impact outside factors can cause (car trouble, home repairs, etc) and enhance the positive outside factors (more time/money for a hobby, eating good food, etc.) We have to be vigilant against "lifestyle creep" because our lifestyle choices shouldn't own us. But our basic daily perspective on life? That is up to us, regardless of income.
Quote:
Originally Posted by jman07
I know what you mean. It's like no matter what you make, you are always looking and comparing yourself to the next person above you (there will always be one), and thinking you should be there. My first job out of college I felt rich making 35k a year and full benefits. I came from part time jobs making $8/hr. It's all perspective I suppose,
^^And this is, of course, a common issue of human nature. When something seems "better", but just out of reach, we convince ourselves we need/deserve it. It's not always a bad thing: ambitiousness and goal-setting are probably healthier than coasting. But you have to really examine what it is that next level can provide that you're not getting now. There is no "I'll be happy when..." None.
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