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The YNAB Podcast

047 - How Much Money Does it Take to Be Happy?

The YNAB Podcast

YNAB

Consolidation, Total, Budget, Dave, Peace, Money, A, Education, Ynab, Finance, Bankruptcy, Makeover, Fpu, Software, Management, Personal, Need, Ramsey, Financial, University, Debt, Kids & Family, You

4.71.1K Ratings

🗓️ 10 September 2012

⏱️ 4 minutes

🧾️ Download transcript

Summary

The study says $70,000 and it's gotten me thinking about downsizing. Not the house really, just in general. Though nothing's off the chopping block just yet.

Transcript

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0:00.0

Hello, why neighbors, my name is Jesse Meekam, and this is podcast number 47 for you need a budget

0:17.0

where we teach you four rules to help you stop living paycheck to paycheck, get out of debt, and save more money. Speaking of more money, how much more money do you

0:28.7

need to be happy? Are you guys familiar with those studies? You know they talk about happiness caps out at

0:38.6

70,000 dollars in income, take away some taxes.

0:44.0

And I don't know what a $70,000 per year income looks like as far as taxation goes,

0:49.0

but let's say it takes, let's see around the 55.

0:52.0

So $55,000 in income and they say happiness incrementally doesn't really go up from there.

0:58.0

And I've been thinking a lot about that and kind of wondering what things would look like if

1:06.7

we downsized.

1:08.0

So I don't mean just downsizing in house.

1:10.5

I really don't want to downsize in house because I love my weight room.

1:15.1

But downsizing in the ideas or just along the thoughts of what actually makes me happy and really being strict with that.

1:26.6

And I was at FinCon this week and that's what kind of started, it's been something I've been thinking

1:31.0

about anyway, but it just kind of stirred something in me.

1:34.3

I was talking with these people, Todd at financial mentor.com, he was on a panel and he was basically saying, you know, he retired at 35. I don't know what age he is now. He's older now. I don't know, maybe 50 or something. I'm really bad at guessing ages. But yeah, you're retired at 35 and it's all about just living

1:55.2

on a lot less than you make and then having flexibility and living a rich life in the sense

2:00.9

that you have flexibility, you know, you're able to just do what you

2:04.8

please, spend the time where you want. I love making money. Love it. It's challenging.

2:11.1

I love selling. And I like writing copy that will convince you all to upgrade to

2:16.5

Wineab for. Although most of the podcasters probably, or podcast listeners probably have at

2:21.6

this point.

2:23.0

I love that aspect, but you know I ask myself what really makes me happy?

...

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