Michael and Ben were talking about a new study they’d read at The Atlantic about how no one is happy with the amount of money they have, up and down the scale. The conclusion of the piece is that pretty much everyone says they’d be contented if they only had 2 to 3 times more wealth.
Now, of course, for people who don’t know where their next meal is coming from, this is a ludicrous proposition, but talk to those same people a year after winning a million dollar scratch off and I’d bet they’d still be grateful, and yet strangely unsatisfied like everyone else.
It’s called Baseline Happiness, which I’ve written about before. People adjust to their new reality, up or down, relatively quickly. It’s a survival mechanism that had been necessary for the species since our time on the Savannah.
My job is helping wealthy people remain wealthy and do what they want to do with the money they’ve accumulated today, far into the future. The best one-sentence description I could give you for what my firm’s Certified Financial Planners do each day: We’re in the dream quantification business. Tell me what you want for your future and let’s figure out how to invest accordingly. Let’s put some numbers on those dreams and talk about how much risk will be necessary in order to see them become reality.
It’s a great business, because people are more often surprised than not at how doable their dreams are once we’ve quantified what it will take in investment returns, ongoing contributions and