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No Matter What We Earn, We Believe Our Richer Neighbors Have More to Give
We think rich people should be more generous
Most of us believe if we earned a bit more money, we'd have more free money to give. But the wealthier people get, the more expenses they accumulate, meaning there is not that much "spare" income.
The result is that we often pass the buck, thinking that the wealthier people, or our future, richer selves, will have the capacity to give.
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9
Key Ideas
Wealth Is A Relative Term
The definition of wealth is personal. It may mean something different to everyone.
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How Much You Need to Become Wealthy In Dollars
According to a Modern Wealth Index Survey, the amount needed to be comfortable in America is $1.4 million. To be wealthy, you'll need a net worth of $2.4 million.
An average pre-tax yearly salary of $389,436 is needed to be in the top 1%, although it varies by state.
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We all, rich or poor, have the same 24 hours in a day. But we can use our money to buy more time. For example, by eating out, you don't have to decide what to cook, shop for ingredients, cook, and clean it all up.
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Key Ideas
Income and happiness
Scientific literature points out that money tends to make people happier, but not always.
An unstudied aspect of money is how our income and wellbeing relate to hope - how people th...
The limit of money and well-being
A new study found a positive connection between money and well-being, but it is subject to various other factors.
Those making more money tended to report higher levels of life satisfaction and hope. However, the effect didn't exist for those making less than $1800 a month - this is around the poverty line for a multi-person household with children.
Money and optimism
A higher income may cause people to be hopeful and improve their level of life satisfaction. It could also be that optimistic people make more money due to them already being hopeful.
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Key Ideas
Like-Minded People
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The Level Of Influence Of Similar Linguistic Skills
When people only see the text of the other person, which is what they usually see in online relationships, the linguistic style is the only thing that can attract them to others.
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