Warren Buffett MBA Talk - Part 7
Standard of living is not equal to net worth. Scientific studied have proven that money only increases happiness at lower levels. Meaning if you went from making 20k to 500k a year you would be happier because you wouldn't be struggling to eat. But if you went from 500k to 1000k your happiness wouldn't change. If Warren only had 1% of his money he wouldn't be living any differently and it wouldn't change things.
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