If $200k Is Not Enough, No Amount Will Ever Be Enough
Channel: Daily Insight
Date: 27/11/2020

A recent survey has shown that most Australians who are on incomes of $200,000 or more do not feel wealthy, with many of them saying that they would have to double their salary to feel rich. Of those high-income individuals who were surveyed, only 8% felt rich. Similar surveys held in the United States yield similar results. For most American millionaires, their million-dollar fortunes are not enough. Only 13% of Americans with at least $1 million investable assets feel wealthy, with a quarter of them identifying themselves as middle class. So why is this? Well, here’s a clue for you. People who are not satisfied now with their financial situation (except perhaps the very poor), will never be satisfied. They'll forever be wanting more. That's the genius of capitalism – the never ending feeling of emptiness despite people having many more times material wealth than what they actually need. Even the very rich still want more. It's an insatiable desire brought on by a society that praises the very rich, and denigrates the poor. How many more Porsches does Jerry Seinfeld need? How many more multi-million dollar cars does Jay Leno need to complete his collection? How many bathrooms does a person like Bill Gates need in his massive $127 million mansion? Apparently the answer is 18.75. That’s more than two bathrooms for every bedroom. I promise you, for the ultra-wealthy, they never feel like they have enough. And the same is true for people on $200,000 incomes who feel like they don’t have enough... It will never be enough. This isn’t about money anymore. This is about lack of self-worth.

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