We always want more money.... how to know how much is enough, so that no further energy be spent to earn more?

Question

There are people taking up jobs even after retirement and there are others who are spending 16-18 hours a day on earning money.... isn't there a need to balance time and effort put to earning money and doing other things in life?

Answer 1

This is a good question.We all think a certain amount of money should be enough.By the time we earn that much money, we find ourselves in a situation where we seem to need more.This just goes on.Perhaps in course of time we move to a higher strata of society (at least our children do) and the needs go on increasing.
In some other cases people continue to work because they are used to that and it has become an addiction. They may go into depression without work.

Answer 2

if u make a lot o money but have no time to spend it then wats the point? listen, it all depends on the situation, for example, single parent raising a child needs a lot of money (specially money to save for his/her baby's future) thus in that case, many hours spent working to make money is reasonable considering the situation. however, if that same person has a good amoutn saved, and has a good income (from which he/she can keep saving from) and then that person goes and gets another job just to have more money then thats silly. because thats when people get attached to material things because of a lack in their life. if u have friends, family and someone to love then do u REALLY need the latest ipod? whats wrong with an old fashioned stereo? or do u really need a flat screen 7000 inch tv? or do u need to go out three times a week to invite everyone and show off? no! but media and society make us want these things. the whole point of advertising is to convince u that u NEED these things. hey, tom cruise and katie holmes' house has like what? 17 bedrooms? why? will they EVER have 17 people over? do they need 7 bathrooms? do they 16 maids? no no no no no... but hey dont get me wrong, luxury things are good for u, u should spend some money on enjoyable personal things because if u've worked hard on it then u deserve to pamper urself a little.. life IS about fun... fun with balance of course, but fun!!!!

Answer 3

I think part of it has to do with not knowing how high democrats will raise the tax rate in the future (not so long ago they were 70% under jimmy carter), not knowing if the stock market will tank and stay tanked for decades. Not knowing if the government will raise the retirment age for social security and medicare to 80 in the future in order to deny us our money and healthcare for as long as possible. Not knowing if your wife will divorce you and take half of everything you've worked so hard to accumulate. Not knowing if terrorists will nuke five or six of our cities. Not knowing if your life savings will be stolen by cyberhackers.
For one example, let's say that a frugal-minded person decides not to blow 10,000 per year of his disposable income on frivolous stuff, because he's not a consumer-zombie anymore. Over 25 years, he will have lived like a minimalist and been nice to the environment, and not have a house full of junk, and have kept 250,000 dollars out of the economy. But, the problem is, this 250,000 dollars he's saved can be wiped out in a couple weeks , 25 years later, by a stock market crash, maybe even within a couple DAYS. Assuming he has a million dollars saved, losing 25% of your assets can happen EASILY. Add on top of that a 70% tax rate, which is probably inevitable, the ravages of inflation, and a dried up social security and medicare system, i think that people have reason to horde and work as much as possible for as long as possible.

Answer 4

yes, its very important to have balance, and enjoy and do other things in life, at the same time, money is important, for security and to buy some of the things you enjoy (nice trips, meals, perks etc), as to retirement, most dont work quite as hard after it as they did before, but working brings them pleasure,,, as a matter of fact, even before retirement, alot of people get enjoyment from work, or even feel a responsibility to their clients, company etc, so might put in more hours then they really want to

Answer 5

That's a good observation you have there. I agree that there should be a balance between time and effort for when we leave this world, we won't be able to bring all these material wealth that we acquire. I think a good lifetime plan could help and identifying your purpose in this world, too.

Answer 6

Money is like food. You cannot only eat once for your entire life. ... Same goes for money ..You earn ..spend and then earn.. its the quest of earning for life time that kills a person and leads to all those difficulties..

Answer 7

People are different. Everybody has an own goal. If all of us could adjust a budget according just normal usual needs, our atmosphere never would remind a Hell. God examines us and we don't realize that..Unfortunately.

Answer 8

Meet some people who don't want or need money.

It is easy to judge the world in terms of our own environment.

Answer 9

income=outcome=0