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this post was submitted on 23 Jan 2024
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20yrs ago, I made about a fifth of what I make today. I couldn’t buy all the things I wanted, but we were safe and paid our bills without a lot of stress. Today, I have a little more flexibility, but it doesn’t feel all that different.
I will assume that “lifestyle inflation” scales up, maybe it scales up a lot. But beyond some point, wealth becomes meaningless and the marginal dollar means nothing. Why keep hustling past that point? What drives people like that? Inertia? Lust for power? Competition with peers? Hard to say I guess but, something is driving them.
I also realize I suffer from lifestyle inflation, but …… the reason I don’t feel well off compared to my previous self is I’m still just a few paychecks from losing it all. If I lost my job, I lose it. I’ll have to cut way back, struggle to keep house and car, and will be anxious until I get another job.
I’ve read that feeling well off is having enough savings so you don’t need to worry about keeping your lifestyle in case anything happens. I don’t
Warren Buffet is a great example for this question because he does live modestly for one of the richest people in the world. If he lost his job/company, he could still support his lifestyle and obligations well beyond his life expectancy. So yeah, what is his motivation?