I often think of money as a "demotivator" as well. I don't compare up to Bill Gates or people who I don't know or who have obviously made sacrifices that I would not (Gates also gave up a lot for what he got). However, I compare sideways. When I see someone who is at my level in terms of position, make 2x what I do but contributes very little to the organization or just does a minimal amount, it is demotivating. In the past, that has meant that I have sought a new job elsewhere.
Today, I realize that is part of the organization in which I work (Higher Ed system with Tenure), and I receive a lot of psychological income from the students and people I interact with and help than these higher earners.
The correlations of income and happiness is real and money can definitely improve our sense of well being when used wisely.
There are many other meanings and purposes such as health, good relationships, loves (?) that contributes to our happiness which dollars can’t buy.
I often think of money as a "demotivator" as well. I don't compare up to Bill Gates or people who I don't know or who have obviously made sacrifices that I would not (Gates also gave up a lot for what he got). However, I compare sideways. When I see someone who is at my level in terms of position, make 2x what I do but contributes very little to the organization or just does a minimal amount, it is demotivating. In the past, that has meant that I have sought a new job elsewhere.
Today, I realize that is part of the organization in which I work (Higher Ed system with Tenure), and I receive a lot of psychological income from the students and people I interact with and help than these higher earners.