Want more money?
Good. But be careful ...
Once you make 30-50% more money, you’ll be satisfied.
Right?
In August 2023, The Harris Poll conducted a survey of 2,034 Americans 18+ and asked a simple question:
“How much does your annual salary need to be for you to feel happy/less stressed?”
Nearly every income group said the same thing:
“About 30-50% more.”
People who made $50K wanted $75K.
People who made $75K wanted $100K.
People who made $100K wanted $150K.
“I just need to get to the next level,” says everyone. “Then I’ll be good.”
This is the part where you think I’m going to tell you to be happy with what you have.
Not quite.
It’s normal to want more. As you see in the chart, it’s so normal that it transcends economic lines. In a society that’s built on divisiveness, that’s no small feat.
It’s healthy to want more. And it does no good to admonish yourself for having ambition.
In economics, we hear a lot about the dangers of inflation. But remember that, to a degree, inflation is healthy. A modest 2-3% rate of inflation every year encourages people to spend, and when people spend, the economic wheel keeps turning.
But what we don’t hear about — and what can be far worse — is deflation.
(Notice: Oversimplification ahead)
In deflation, prices go down.
And while on the surface, that sounds like a good thing, it’s often a signal of crisis.
If big purchases like homes, cars, and technology are going to be cheaper in the future, why would you buy them now?
So people don’t spend. And when people don’t spend, businesses don’t earn. And when businesses don’t earn, people get fired.
So — back to you.
In life, you have a few options.
Get better (inflation)
Get worse (deflation)
Stay exactly where you are (difficult to pull off)
Which one are you choosing?
Cool, me too.
Wanting more is a good thing.
But, as with most things in life, the key to success in the pursuit of “more” is awareness.
“More” is not a place. It’s not a dollar amount. It’s not a job title or an award or a bumper sticker to slap on your Honda-that-just-needs-to-be-a-Mercedes-and-then-I’ll-be-happy.
“More” won’t replace memories. “More” won’t give you the time back you spent searching for it. “More” isn’t real.
So yes, be driven. Aspire to more and let the modest pursuit of more slowly inflate and improve your life. Not just financially, but mentally, physically, and spiritually. Want more and pursue more.
But remember: “More” can’t be found.
And just when you think you’re about to reach out and grab it, it’ll run a little further away.
So pursue more, but be satisfied with less.
Then you’ll be good.