The small and not so small benefits of being "wealthy"?

Simple living, extreme early retirement, becoming and being wealthy, wisdom, praxis, personal growth,...
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TopHatFox
Posts: 2322
Joined: Thu Oct 17, 2013 10:07 pm
Location: FL; 25

The small and not so small benefits of being "wealthy"?

Post by TopHatFox »

I've been starting to notice that there are certain nice benefits to being wealthy, even if its a few thousand or tens of thousands. For example, when I eat out with friends every now and again, the meal price isn't much a worry any more, just that the food is healthful and tasty. Or if there's a small dispute over people leaving the lights on excessively, I can easily pay the extra $20 for the electricity bill that month to establish social capital with the roommates without a second thought. Even taking a bus back and forth to visit a friend in another city is not a big deal. Or if I lose something, I no longer get worried because the truth is I can easily replace all of my stuff many times over. Or if I want to stay the night with a person I met, I can choose to cancel work the next day since I don't actually need the money as much as I used to.

This all isn't to say I don't value these possessions or services, just that choosing to use them is becoming much less of a monetary choice, and much more of a lifestyle choice optimized for happiness.

Pretty cool.

What are some of the mental or lifestyle benefits you've noticed as your savings/investments/wealth has increased?
Last edited by TopHatFox on Wed May 24, 2017 9:52 am, edited 1 time in total.

cmonkey
Posts: 1814
Joined: Mon Apr 21, 2014 11:56 am

Re: The small and not so small benefits of being wealthy?

Post by cmonkey »

The wealthier I get the less I care about fitting in/pleasing other. I'm more content to just be myself and do what makes ME happy as opposed to making others happy.

I also give less cares about my reputation at work/the possibility of losing my job. I know I could get another one and I have plenty of cushion to last any reasonable period of time. Not to say I'm actively trying to get fired but I no longer put in the 100+% in the hopes it would keep me from the chopping block in the event of any lay off.

James_0011
Posts: 392
Joined: Wed Nov 09, 2016 12:00 am

Re: The small and not so small benefits of being wealthy?

Post by James_0011 »

I am not wealthy, but I look forward to not giving a fuck about what other people think. My gut feeling is that the more money I have the less I will care.

IlliniDave
Posts: 3845
Joined: Wed Apr 02, 2014 7:46 pm

Re: The small and not so small benefits of being "wealthy"?

Post by IlliniDave »

To me the biggest one is probably knowing that I really don't need to convince anyone to give me money in exchange for my time/effort. For a midlife guy in the technical world, that's a pretty big deal.

slowtraveler
Posts: 722
Joined: Sun Jan 11, 2015 10:06 pm

Re: The small and not so small benefits of being "wealthy"?

Post by slowtraveler »

Higher quality clothes/tools with a lower long term cost.

I don't worry anymore about how to make enough to survive.

I learn more about taxes.

Hankaroundtheworld
Posts: 470
Joined: Mon Feb 24, 2014 4:50 am

Re: The small and not so small benefits of being "wealthy"?

Post by Hankaroundtheworld »

More wealth does not always lead to more happiness (if you read the ERE book, it can even reverse happiness, as more possession for instance, can lead to more worries and wasteful choices). But, as I understood your situation, you mean relative small increase in "wealth", allowing to make daily life a bit more comfortable. Probably it is about "feeling wealthy" because you can pursue the things that brings you value, and that must be a great feeling :-)

EdithKeeler
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Joined: Sun Sep 01, 2013 7:55 pm

Re: The small and not so small benefits of being "wealthy"?

Post by EdithKeeler »

Money buys a lot of freedom and peace of mind. I like not having to worry about how I'm going to pay the electric bill, etc. I remember those days back when I was just starting out when I realized I didn't have enough money to fill the gas tank or whatever. While the idea of car repairs fills me with dread, I know now that i have enough cash to buy my way out of a car repair or the need to buy a new car. Basically, I have enough cash to buy myself out of whatever bad thing that can happen that you can buy your way out of... and that's a good feeling.

The more money I have the less worried I am about losing my job, the less worried about what people think about me, etc. And it's funny, because the less I worry about those things, the less money I probably spend. I don't need to impress anyone by having the latest shoes or best handbag or whatever. I never used to take vacations because the money would strain the budget AND I worried about my job, would I be able to get caught up when I got back, what if I lost my job.... now I make sure I take at least one vacation away every year, and lately it's been 2.

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