Earnings - Revision history

Jsinick at 22:08, 4 October 2013

2013-10-04T22:08:29Z

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	In addition to having significant potential benefits, having higher earnings also has '''significant potential downsides.'''		In addition to having significant potential benefits, having higher earnings also has '''significant potential downsides.'''

	See also [Earnings by career].		See also [[Earnings by career]].

	== Income, well-being and life satisfaction ==		== Income, well-being and life satisfaction ==

Jsinick at 22:08, 4 October 2013

2013-10-04T22:08:17Z

← Older revision		Revision as of 22:08, 4 October 2013
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	In addition to having significant potential benefits, having higher earnings also has '''significant potential downsides.'''		In addition to having significant potential benefits, having higher earnings also has '''significant potential downsides.'''

			See also [Earnings by career].

	== Income, well-being and life satisfaction ==		== Income, well-being and life satisfaction ==

Jsinick at 23:07, 29 September 2013

2013-09-29T23:07:00Z

← Older revision		Revision as of 23:07, 29 September 2013
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	In addition to having significant potential benefits, having higher earnings also has '''significant potential downsides.'''		In addition to having significant potential benefits, having higher earnings also has '''significant potential downsides.'''


	== Income, well-being and life satisfaction ==		== Income, well-being and life satisfaction ==

Jsinick: /* Potential downsides of high earnings */

2013-09-29T23:06:05Z

Potential downsides of high earnings

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	These downsides tend to be small for people with moderately high earnings, but can be large for people with very high earnings.		These downsides tend to be small for people with moderately high earnings, but can be large for people with very high earnings.

	* '''People being interested in you for your money.''' If people stand to gain from you financially, they may ~~act~~ friendly even if they don't like or care about you. If you're very wealthy, people may attempt to manipulate you in order to get a share of your wealth. This can make it hard to know who to trust, reducing your comfort with people.		* '''People being interested in you for your money.''' If people stand to gain from you financially, they may behave in a friendly way toward you even if they don't like or care about you. If you're very wealthy, people may attempt to manipulate you in order to get a share of your wealth. This can make it hard to know who to trust, reducing your comfort with people.
	* '''Reduced critical feedback.''' If people stand to gain from you financially, they may be less willing to point out ways in which you could improve, out of fear of offending you. This can limit your opportunities to grow as a person.		* '''Reduced critical feedback.''' If people stand to gain from you financially, they may be less willing to point out ways in which you could improve, out of fear of offending you. This can limit your opportunities to grow as a person.
	* '''Reduced empathy.''' If you're wealthy, you don't need to depend on other people as much as is typical. When you don't depend on other people, you don't need to be attuned to their emotional states in order to navigate the world, and this can result in your capacity for empathy atrophying.		* '''Reduced empathy.''' If you're wealthy, you don't need to depend on other people as much as is typical. When you don't depend on other people, you don't need to be attuned to their emotional states in order to navigate the world, and this can result in your capacity for empathy atrophying.

Jsinick: /* Potential downsides of high earnings */

2013-09-29T23:05:41Z

Potential downsides of high earnings

← Older revision		Revision as of 23:05, 29 September 2013
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	== Potential downsides of high earnings ==		== Potential downsides of high earnings ==

	These tend to be small for people with moderately high earnings, but ~~are~~ can be large for people with very high earnings.		These downsides tend to be small for people with moderately high earnings, but can be large for people with very high earnings.

	* '''People being interested in you for your money.''' If people stand to gain from you financially, they may act friendly even if they don't like or care about you. If you're very wealthy, people may attempt to manipulate you in order to get a share of your wealth. This can make it hard to know who to trust, reducing your comfort with people.		* '''People being interested in you for your money.''' If people stand to gain from you financially, they may act friendly even if they don't like or care about you. If you're very wealthy, people may attempt to manipulate you in order to get a share of your wealth. This can make it hard to know who to trust, reducing your comfort with people.
	* '''Reduced critical feedback.''' If people stand to gain from you financially, they may be less willing to point out ways in which you could improve, out of fear of offending you. This can limit your opportunities to grow as a person.		* '''Reduced critical feedback.''' If people stand to gain from you financially, they may be less willing to point out ways in which you could improve, out of fear of offending you. This can limit your opportunities to grow as a person.
	* '''Reduced empathy.''' If you're wealthy, you don't need to depend on other people as much as is typical. When you don't depend on other people, you don't need to be attuned to their emotional states in order to navigate the world, and this can result in your capacity for empathy atrophying.		* '''Reduced empathy.''' If you're wealthy, you don't need to depend on other people as much as is typical. When you don't depend on other people, you don't need to be attuned to their emotional states in order to navigate the world, and this can result in your capacity for empathy atrophying.

Jsinick: /* Social influence */

2013-09-29T23:05:18Z

Social influence

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	== Social influence ==		== Social influence ==

	People who have high earnings are often regarded as more important than people who aren't. ~~Thus, if~~ you have high earnings, you're in a better position to influence your communities.		People who have high earnings are often regarded as more important than people who aren't. If you have high earnings, you're in a better position to influence your communities.

	People who have high earnings can make earmarked donations to community organizations, in order to influence their activities.		People who have high earnings can make earmarked donations to community organizations, in order to influence their activities.

Jsinick: /* Luxury spending */

2013-09-29T23:05:03Z

Luxury spending

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	* Some people want an expensive home and/or a second home. Getting a second home can bump one's cost of housing up by ~$30k/year.		* Some people want an expensive home and/or a second home. Getting a second home can bump one's cost of housing up by ~$30k/year.
	* Luxury cars can cost ~$60k, in comparison with inexpensive but functional cars, which cost ~$20k.		* Luxury cars can cost ~$60k, in comparison with inexpensive but functional cars, which cost ~$20k.
	* Hiring a nanny to take care of your children can cost ~$30k/year		* Hiring a nanny to take care of your children can cost ~$30k/year.
	* Designer clothing can cost up to ~$20k/year		* Designer clothing can cost up to ~$20k/year.
	* Eating at expensive restaurants, taking up expensive hobbies such as sailing, and attending lavish events can cost ~$25k/year		* Eating at expensive restaurants, taking up expensive hobbies such as sailing, and attending lavish events can cost ~$25k/year.
	* Traveling to exotic locations several times a year can cost ~$15k/year		* Traveling to exotic locations several times a year can cost ~$15k/year.

	These estimates are rough, and refer to vague ~~things — they're~~ only intended to give a rough idea as to the costs of luxury ~~gooods~~.		These estimates are rough, and the things that they refer to are vague. The estimates are only intended to give a rough idea as to the costs of luxury goods.

	If you want a lifestyle that includes all of these things, you need an additional ~$130k/year in household income after taxes, beyond what one would need if one were living an adequate but modest lifestyle.		If you want a lifestyle that includes all of these things, you need an additional ~$130k/year in household income after taxes, beyond what one would need if one were living an adequate but modest lifestyle.

Jsinick: /* Luxury spending */

2013-09-29T23:04:21Z

Luxury spending

← Older revision		Revision as of 23:04, 29 September 2013
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	LearnVest [http://www.learnvest.com/knowledge-center/m-a-s-h-calculator-how-much-will-my-lifestyle-cost/\| points out] that		LearnVest [http://www.learnvest.com/knowledge-center/m-a-s-h-calculator-how-much-will-my-lifestyle-cost/\| points out] that

	* Some people want expensive ~~homes~~ and/or second ~~homes~~. Getting a second home can bump one's cost of housing up by ~$30k/year.		* Some people want an expensive home and/or a second home. Getting a second home can bump one's cost of housing up by ~$30k/year.
	* Luxury cars can cost ~$60k, in comparison with inexpensive but functional cars, which cost ~$20k.		* Luxury cars can cost ~$60k, in comparison with inexpensive but functional cars, which cost ~$20k.
	* Hiring a nanny to take care of your children can cost ~$30k/year		* Hiring a nanny to take care of your children can cost ~$30k/year

Jsinick: /* Luxury spending */

2013-09-29T23:04:03Z

Luxury spending

← Older revision		Revision as of 23:04, 29 September 2013
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	LearnVest [http://www.learnvest.com/knowledge-center/m-a-s-h-calculator-how-much-will-my-lifestyle-cost/\| points out] that		LearnVest [http://www.learnvest.com/knowledge-center/m-a-s-h-calculator-how-much-will-my-lifestyle-cost/\| points out] that

	* Some people want expensive homes, or ~~luxury~~ homes~~, which~~ can ~~up to double one's housing expenses (say, bumping~~ one's cost of housing up by ~$30k/year.)		* Some people want expensive homes and/or second homes. Getting a second home can bump one's cost of housing up by ~$30k/year.
	* Luxury cars can cost ~$60k, in comparison with inexpensive but functional cars, which cost ~$20k.		* Luxury cars can cost ~$60k, in comparison with inexpensive but functional cars, which cost ~$20k.
	* Hiring a nanny to take care of your children can cost ~$30k/year		* Hiring a nanny to take care of your children can cost ~$30k/year

Jsinick: /* Luxury spending */

2013-09-29T23:03:14Z

Luxury spending

← Older revision		Revision as of 23:03, 29 September 2013
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	== Luxury spending ==		== Luxury spending ==

	LearnVest [http://www.learnvest.com/knowledge-center/m-a-s-h-calculator-how-much-will-my-lifestyle-cost/\| ~~estimates~~] that		LearnVest [http://www.learnvest.com/knowledge-center/m-a-s-h-calculator-how-much-will-my-lifestyle-cost/\| points out] that

	* Some people want expensive homes, or luxury homes, which can up to double one's housing expenses (say, bumping one's cost of housing up by ~$30k/year.)		* Some people want expensive homes, or luxury homes, which can up to double one's housing expenses (say, bumping one's cost of housing up by ~$30k/year.)