Monday, January 28, 2008

Are rich people happier?

"A study in the US published in Social Indicators Research found that those who avidly pursued possessions were less satisfied with their friendship, families, jobs -even their health - than participants who were less materialistic."
- Stacy Weiner, The How of Happiness -

Warren Buffet, the rich guy, still lives in the same 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says he has everything he needs in that house.

Sometimes I wonder if I have all the things that I want now, would I be happier? Well, in the first place is there such a thing as happy-ER? If I buy a Celine sandals right now I would be happy... but if I buy those nice little Nine West peep toe shoes I would be happier! Actually, I'm happy right now with or without a new pair of shoes. I think despite being unable to follow my budget (still!) I have improved with my purchasing habits. I don't buy on impulse and I weigh if I really need to buy another item. Besides, consumerism contributes to filling up the landfills!

I really love Warren Buffet, he loves to play with money. He loves the game of acquiring money but not necessarily wallow on its spoils. I opened an account in BPI Trade last year to try my hand on investing. No big money involved yet, but surprisingly I loved the game! Choosing stocks, monitoring how they do everyday and how global economies affect our own. Since buying a few stocks I think I've already doubled my money. Thanks to the EDC IPO! And although some stocks have not done as great as EDC, I still earned more compared to leaving my money in a savings account. Well, stocks are so down now because of the bad US economy, but there's no doubt that their values will bounce back in a few months. Besides, low values means greater opportunities to buy.

Sometimes I envy some of my cousins who have thicker wallets, can afford to buy a new home, a new car. They were able to get very high paying jobs that unfortunately I didn't get. But somehow, I think its better that I didn't get that high-paying and very demanding job. I have more time in my hands, I have more freedom in my work and less corporate-crap, I have time to serve in my Church and I have more time to explore other financial opportunities. I mean if I experienced earning really big (6 figures) it would take hell before I leave it. I would be scared to get out of that financial security (actually, a job is far from being a financial security). And besides, however hard you work you will get the same salary... which is still only a very small fraction of what your company earns.

Without that big money in my hands, I am beginning to explore other sources of bigger money. I'm planning to open a small food cart in our area and an online store. I'm really really excited! This is what I want to do! Manage my own business and provide others with jobs.

I can't wait!

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