After what point does having more money become pointless?

zyxwvu

For example... I'd imagine for most people 2 million euro would be enough to pay for all the big things in life they want to be able to pay for, like a house, car, wedding, childrens' education and maybe a million or so aside for a good pension. Then they could just have a job they like to pay for all the extra little things like holidays and nights out etc.. and just for something to get them out of bed in the morning!

5 million euro would be enough to maybe buy all the stuff you 'need' for 1 million, live off the interest of the other 4 million, so something like 60 grand a year if you don't want to eat into the money too much, and then get to old age still worth a few million which you can leave to your kids.

10 million would be similar only you could have like 130 grand a year in interest.. in other words live extremely comfortably for the rest of your live, if you manage your money carefully. Then leave your kids a pile of money!

But when you go up as high as 100 million, 500 million etc.. it starts to seem a bit mental, and unnecessary to me! Surely somebody would be just as happy with 10 million as they would with 500 million or 10 billion!? So, when does having more money not make a difference in your opinion? I'd say between around 4 or 5 million!

srsly78

Your lifestyle would change to match 110% of your new income.

amacca

when you or a loved one has an ilness that no amount of money can cure etc

RichieC

once you hit the 50 million mark it should be plain sailing.

dr.bollocko

I like to hang out in public carparks and pretend I am an eccentric billionaire who has a passion for collecting boring family saloons.

johngalway

zyxwvu wrote: »

But when you go up as high as 100 million, 500 million etc.. it starts to seem a bit mental, and unnecessary to me! Surely somebody would be just as happy with 10 million as they would with 500 million or 10 billion!? So, when does having more money not make a difference in your opinion? I'd say between around 4 or 5 million!

I am happy to take the €9bn odd off you, minus the €10m for yourself, if you ever come across €10bn, or even a paltry few hundred million. Selfless person that I am

mikemac

Warren Buffett did the right thing, gave his children a set amount and told them to make their own way. And will give away the rest to charity, still lives with his wife in the modest home he bought decades ago

One son Peter left school to become a musician and was encouraged to follow his dream

Big respect to that family, money has not ruined them

amacca

dr.bollocko wrote: »

I like to hang out in public carparks and pretend I am an eccentric billionaire who has a passion for collecting boring family saloons.

that's what they all say..............................its ok, you like dogging, no need to dress it up!

hardCopy

I think it must be about more than money for people who get to that level.

You'd need a serious drive for success, power and influence to work hard all year when you've already made enough to retire.

okioffice84

I know a guy worth approx €90m and for some people it's never enough. I don't think it's actually the making money that drives him now, it's just the buzz of making a business work/succeed.

Mike 1972

Think the phrase youre looking for OP is Law of diminishing returns

Kylo Ren

Footballers earning over 200k a week could buy a new house in a good area every week. It's crazy! For the first year or 2 it's great but after a while adding all the sponsorships the money they earn they wouldn't be able to spend it all I'd say.

MonaghanPenguin

Mike 1972 wrote: »

Think the phrase youre looking for OP is Law of diminishing returns

I think it would be more like diminishing utility.

talla10

dr.bollocko wrote: »

I like to hang out in public carparks and pretend I am an eccentric billionaire who has a passion for collecting boring family saloons.

I play the rich guy at parties....at least i used to!!

Kylo Ren

MonaghanPenguin wrote: »

I think it would be more like diminishing utility.

Yup. Utility is the satisfaction you get from say purchasing a product while returns refers to the eventual decrease in production you see at a certain point when a factor of production is increased. Or something like that

Solnskaya

when it comes to multi-millionaires, they are generally the type who still fuss over the twenty quid they spent on petrol, there is no enough, they want more, more, more.

Glowing

Tbh I think winning an amount bigger than a couple of mil would create more problems than it would solve.

Mike 1972

Solnskaya wrote: »

when it comes to multi-millionaires, they are generally the type who still fuss over the twenty quid they spent on petrol,

With the obvious exception of lottery winners fussing over twenty quid might have played a big part in how they got to be millionares in the first place.

Overheal

You can never have enough money. Not with superyachts.

WoollyRedHat

When you have more godly goods than you could ever have previously imagined, with all of them only acting as symbols of wealth rather than needing them or indeed getting happiness out of them

The simple things you can't buy

Zamboni

After what point does having more money become pointless?

When you run out of imagination.

Mr. Denton

Depends on how you got it.

If it was simply inherited or won in the lottery of then I'd say around 2million because that'll buy you a house and enough money to live off the interest. You've no particular grand schemes of what to do with it or interest in risking it.

If it was money earnt thru working business then you can never have enough because you'll always need more money for expansion. In fact in this arrangement the money is even more meaningless per se, but you need it more in order to facilitate your ambitions.

Mike 1972

Mr. Denton wrote: »

If it was money earnt thru working business then you can never have enough because you'll always need more money for expansion.

What would be the point of continued expansion other than to obtain for oneself more money ?

And while there may be other considerations such as the the business employing a lot of people why continue taking profits under those circumstances rather than reinvesting the proceeds in the business ?

Jess16

MonaghanPenguin wrote: »

I think it would be more like diminishing utility.

Keno 92 wrote: »

Utility is the satisfaction you get from say purchasing a product

Well it's specifically to do with commodity consumption and yes, satisfaction derived from each unit decreases as the supply of units increases. But the marginal utility from a large sized unit is greater than a small sized one so the key with vast quantities of money is to quit consumption quicker to maximise total utility before the marginal utility becomes negative

stimpson

I reckon 10 mil would leave you quite comfortable. Beyond that it gets silly.

A couple of years ago I met a multi millionaire in the states. He was worth about half a billion at the time. Most people will buy themselves a Porsche when they make it. This guy bought himself a Porsche racing team. 3 race spec cars, 2 drivers, mechanics, the works. After a couple of years he added a Ferrari f430 race team. He flys his own gulf stream jet. I heard rumors that he hosts lavish parties complete with high class escorts.

But at the end of the day you'd have to ask did it make him happy? Yes. Yes it did.

recylingbin

about half six.

LeixlipRed

mikemac wrote: »

Warren Buffett did the right thing, gave his children a set amount and told them to make their own way. And will give away the rest to charity, still lives with his wife in the modest home he bought decades ago

One son Peter left school to become a musician and was encouraged to follow his dream

Big respect to that family, money has not ruined them

And I'd guess that Warren Buffet's investment strategies have resulted in countless tens of thousands of people being laid off over the years. Their lives destroyed for the sake of a multi-billionaire making a quick buck. But sure he's a sound lad! :rolleyes:

Donnielighto

Warren Buffet makes business decisions that look after businesses, if nobody was ever laid off pretty much everyone would have a worse than currently.

Regarding OP's question, it depends on the person. For me it would be about 500,000 each year taking inflation into account, after that it is how down to how long you live.

Bowlardo

what do you get the man with everything?

MORE of everything!

it's never enough

Liam Byrne

I've regularly said that if the lotto reaches 5 million that it should be split between 10 families.

300,000 for a house
30,000 for a car
10,000 for a top-class holiday
An arbitrary 10,000 for "nice stuff"
10,000 each to family

That leaves 150,000 over, and the absence of a mortgage or any bills means that you could live on about 800 a month - happy days. Loads of time to do worthwhile stuff and work 2 days a week.

Once upon a time a "millionaire" was a massive achievement, now you have idiots singing about billionaires, and the idiots buy into it.

DazMarz

All that money might not make you happy, but fúck it... you can be miserable in comfort...

mikemac

mikemac wrote: »

Warren Buffett did the right thing, gave his children a set amount and told them to make their own way. And will give away the rest to charity, still lives with his wife in the modest home he bought decades ago

One son Peter left school to become a musician and was encouraged to follow his dream

Big respect to that family, money has not ruined them

Nice lad alright wouldnt sort out his family with plenty of cash, why is that a good thing. Sounds like an ass to me.

Personally the more I would get the more lavish a lifestyle I would lead. A few million would be houses, couple of supercars, holidays etc. Couple of 100 million would be private jets (private airport at my house), big yachts, lots of supercars, constant holidaying.

karaokeman

If you earn €800 a week, that should be enough for anyone to sustain a happy, healthy lifestyle.

But just think about all the junk you could spend money on if you had €10 million €500 million or whatnot.

Overheal

people, we're ignoring the key issue here:

https://www.youtube.com/watch?v=TJNqryVbQAk

Mega

Yachts

n900guy

People exist and drive towards different stages of development. Most never get to the truly altruistic evolved type like e.g., Mother Teresa (sorry, I know the church is evil of course because it only contains paedophiles).

Some people are particularly good at some stages, like providing food and shelter security, which is essentially all you can do with buckets and buckets of money. It's moving laterally on human development instead of vertically and would be better spent providing for people struggling to get that level, so we could evolve as a planet (or even a country).

If you make 100k, in a particular society, it might give what you need to then have a family, expand your knowledge, etc., . So, double yoru salary - you buy a bigger car or tv, but essentially have moved nowhere except to the left or right on the flat plane of shelter security. Earn a million quid and no matter how much you pay, the steak you eat will not be 1000x better even for 1000x the price.

amacca

Overheal wrote: »

people, we're ignoring the key issue here:


Mega

Yachts

so...I take it you like yachts then?


man I'd love to invite a couple of beautiful willing gold-diggers back to that thing............................every night of the year!

amacca

n900guy wrote: »

Earn a million quid and no matter how much you pay, the steak you eat will not be 1000x better even for 1000x the price.

true...but that feeling you get that you are the only one can afford that 1000x steak...and the others are wondering/imagining how much better it is

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Priceless...........




you're right, I'm not evolved at all.

Eric Cartman

when you have enough money to buy a new bentley every day, live in the biggest room of the worlds most expensive hotel with the worlds 2 most expensive prostitutes there 24/7 and have the most expensive breakfast, lunch and dinner and a bottle of middleton , 10 cuban cigars, entry into the worlds most expensive night club and your drinks every night , and a new rolex and armani suit and a new private jet every year for atleast the next 60 years , then thats when you have enough money


but in reality .. you dont have enough money until you can buy your way out of a conviction for any crime

It's never enough.. If I wont 500m. I would try and die with nothing. I'd be like the "secret millionaire" except on a grand scale travelling the poor end of the world and throwing millions at projects to help people.. The amount of times I've thought, "I'd absolutely love to help here".

I'd have a ridiculous lifestyle myself but my 20's would be spent throwing it all away around the world and hopefully doing some good.






































Edit: I sound like such a knob.. I used to hate people who say what I just did.