Are people more motivated to have more money than their peers or by actually having more money?
Would you rather earn a yearly salary of $250,000, but everyone else you associate with makes more OR would you rather earn a yearly salary of $50,000 and everyone you associate with makes less? Why?
I would definitely rather be at the low end with the 250K. Less responsibility at five times the pay. My life does not revolve around the status quo.
good question. I am motivated by financial freedom and acquiring the things I want. I don't proportion self worth with net worth.
I'd rather make $250,000 because I don't care what everyone else makes, and that is a lot of money.
@ David and Word… Glad to see you both answered that you would rather make $250,000 even though you would be making less than those you associate with…very financially astute conclusion.
@Kevin…I couldn’t agree more about not letting your net worth define your self worth.
What prompted this question was I recently came across a case study that highlighted the differences between LMI (low-to-moderate income) individuals “perception” of wealth and status and how it affects their financial decisions as opposed to upper income individuals.
I tend to find that a person’s ego and the desire to be perceived as better than others will usually lead them to make unwise decisions about almost anything.
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