Risk Managment who needs it.

Discussion in 'Risk Management' started by MarkBrown, Dec 18, 2024.

  1. Sekiyo

    Sekiyo

    Money isn’t a holy grail neither,
    It’s not the solution to all problems :D
     
    #141     Dec 24, 2024
  2. schizo

    schizo

    Not to sound like a grinch, but when the world was technologically less advanced and people were financially less abundant (as in the 70s and the 80s and even part of the 90s), we had less to worry about and a lot to be thankful. When you go to the store back then, they would actually greet you with a smile. At the checkout, they would even warmly say "thank you for shopping, hope to see you again". These days, I don't even remember when I last saw a store clerk who welcomed me with a smile or gave thanks at the checkout asking me to come back. Even though the world has become so much better now than ever before in history (financially, economically, and technologically), it's full of unhappy people. So, yeah, I guess money ain't the final arbiter of happiness. On that note, have a merry Christmas, y'all!
     
    #142     Dec 25, 2024
    Sekiyo and NoahA like this.
  3. Money can buy happiness. Not all happiness but a lot of it.

    And that lot is enough, I don't need the rest, just that one lot that money can buy.
     
    #143     Dec 25, 2024
    HawaiianIceberg and MarkBrown like this.
  4. Businessman

    Businessman

    That's a good point, so I asked the AI to elaborate:


    While money can facilitate many types of happiness, its role is more as an enabler rather than the source of happiness itself. The effectiveness of money in buying happiness often depends on how it's used, individual values, and the presence of non-materialistic sources of joy like relationships, purpose, and personal fulfillment.


    Money can influence various types of happiness, primarily through the following avenues:

    1. Material Happiness:
      • Purchasing Power: Money allows for the acquisition of goods and services that can bring joy, comfort, or convenience, like buying a new car, a luxurious home, or the latest gadgets.
      • Comfort and Security: Financial stability can lead to happiness by reducing stress related to basic needs like food, shelter, and health care.
    2. Experiential Happiness:
      • Travel and Experiences: Money enables travel, attending concerts, dining out, or engaging in adventure sports, all of which can create memorable and joyful experiences.
      • Education and Learning: Investing in education or personal development courses can lead to personal growth, which many find fulfilling.
    3. Social Happiness:
      • Social Connections: Money can facilitate social interactions through hosting events, dining with friends, or even philanthropy which can enhance one's social status and sense of community.
      • Time with Loved Ones: Financial freedom can mean more time away from work to spend with family and friends, enhancing relationship happiness.
    4. Health and Well-being:
      • Healthcare: Access to better health care, fitness regimes, and wellness programs can improve physical health, contributing to happiness.
      • Mental Health: Money can buy access to therapy or relaxation services which contribute to mental well-being.
    5. Freedom and Autonomy:
      • Life Choices: Financial independence can provide the freedom to choose one's lifestyle, career path, or even to retire early, which can be sources of profound happiness.
    6. Altruistic Happiness:
      • Giving Back: There's a well-documented joy in giving; money allows for charitable acts, donations, or volunteering, which can enhance one's sense of purpose and connection to others.

    However, it's important to note:

    • Diminishing Returns: After a certain point, additional income does not significantly increase happiness, as basic needs are met.
    • Hedonic Adaptation: The happiness from material purchases tends to wane over time as people get used to them.
    • Comparison: Happiness can be reduced if money leads to comparisons with others who have more, leading to envy or dissatisfaction.
     
    #144     Dec 25, 2024
  5. Another guy that shoots chatGPT replies at everyone. If you can't reply by yourself don't say anything.

    We all can use that AI
     
    #145     Dec 25, 2024
    HawaiianIceberg likes this.
  6. Businessman

    Businessman

    Chill out, this Question about Happiness and Money has been discussed to death countless times on this board since I been a member here for the last twenty years. Just thought I would get the AI to give a different take.
     
    Last edited: Dec 25, 2024
    #146     Dec 25, 2024
    MACD and NoahA like this.
  7. This is getting boring now!
     
    #147     Dec 25, 2024
    Drawdown Addict likes this.
  8. Hello Businessman,

    That is right, money everywhere.
     
    #148     Dec 25, 2024

  9. Sorry to be replying so slowly. No, not suggesting that, at all! Plan for 10 years? Nooooooooo!! Try to get rich over 10 years? Maybe. I think a lot of people who could do that actually fail to, simply because they keep trying to do it in 1 year, when they can't (and they often do that, or similar, a lot more than 10 times, too).



    Nope. Brit, living in Singapore. You?

    Happy New Year!
     
    #149     Dec 30, 2024
    SimpleMeLike likes this.
  10. ironchef

    ironchef

    No wonder.

    Unlike us, poor, destitute Americans, you rich Singaporeans don't have to worry about getting rich. You are already rich. :D
     
    #150     Dec 31, 2024
    Probability likes this.