People who make more money are not always as happy as people who make less money
Gary Vaynerchuk is an American self-made millionaire known for his various roles as businessman, investor and CEO. In addition, he is also a speaker and has been voted the New York Times best-selling author four times. Currently, the 46-year-old businessman owns a fortune of about 200 million USD.
In addition to the above roles, Gary also actively posts advice videos on Instagram and YouTube. He encourages people to diversify their income by finding part-time jobs, establishing and growing businesses, and focusing on personal images on social networks.
In a 2020 video, Gary expressed a point of view that caught the attention of a large number of followers. Specifically, he said that today’s young people should stop being ambitious and find ways to earn millions of dollars as soon as possible. According to him, this can make them no longer happy in life.
“Many young people under the age of 25 want to earn $1 million/year or more, but I think they should aim for $70,000/year. With the desire to earn $1 million/year, your world will be different.” , the millionaire shared.
American millionaire Gary Vaynerchuk (Photo: Internet).
According to CNBC, Gary’s views have a scientific basis. A group of researchers has shown that people tend to feel happier when they earn more, but only up to about $75,000 a year.
That’s because money makes us happier by helping us meet basic needs like food, shelter, and health care. After that, the correlation with happiness will gradually decrease and stop.
In addition, research also shows that from a happiness point of view, it is more important that you feel your work is meaningful and enjoyable, not just the salary you receive.
Gary added: “I have a lot of friends who make $53,000 a year and really enjoy their lives. Meanwhile, there are people who make $12 million a year but are uncomfortable and happy. equal to people earning less. So I think we need to redefine success.”
Gary also pointed out that the income level to join the richest 1% in the US is more than 400,000 USD / year in the US in 2019. However, he still prefers 70,000 USD / year because for a beginner career, that number seems easier to achieve.
For his part, he says that when he was in his 20s and 30s, his life wasn’t really about big fortune or luxury. As a child, he was born and raised in quite modest places.
Gary immigrated to the US from Belarus in the 1970s. His first job was working in his family’s liquor store, earning just $2 an hour. While a student at Mount Ida, he started a YouTube channel for wine reviews. After a while, Gary’s channel gained a significant number of followers.
Now, successful and owning hundreds of millions of dollars, Gary still believes that there is no correlation between his wealth and happiness. Instead, he says what makes him happiest is loving what he does: “I love the business, its good and bad sides.”
Source: Inc, CNBC
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