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Wed Apr 15 2015 14:36:39

How Much Money Do Online Sellers Need to Be Happy?

By: Ina Steiner

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The CEO of a payment processing firm has decided to boost the salaries of all of his 120 employees to a minimum of $70,000 over the next three years, while he himself will take a temporary pay cut from $1 million to $70,000.

Gravity Payments founder Dan Price made the decision after reading an article on happiness that showed for people who earn less than about $70,000, extra money makes a big difference in their lives, according to the Seattle Times piece on Price's decision.

You can find the study here - in one statement, the researchers said, "More money does not necessarily buy more happiness, but less money is associated with emotional pain."

So how much money does it take for online sellers to find happiness? How much profit do you need to generate in order to take you out of miserable and into a state of bliss?



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by: sasikat9 This user has validated their user name.

Wed Apr 15 16:01:02 2015

As long as I don't lose any money after Fleecebay fees and paypig fees I'm happy.  But that might come from being retire and not really caring about making piles of money.  

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This user has validated their user name. by: iheartjacksparrow

Wed Apr 15 16:31:33 2015

I'll basically echo "sasikat9"'s sentiments (though I no longer sell on eBay and don't accept PayPal). I'm also retired, so whatever sales I get make me happy.

As a side note, my husband used to work for a company that employed Gravity to handle payroll. I always thought Gravity was somewhat strange as when we received W-2 forms they listed the employer as Gravity and not the actual company my husband worked for.

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by: Enough Is Enough! This user has validated their user name.

Wed Apr 15 16:41:51 2015

Enough money to pay the bills and have some left over for a rainy day. Really no different than having a "normal" job.

And not having any pulled from my pocket by ebay "borrowers" who claim NAD or SNAD when I list an item completely accurately.

Having to pay shipping both ways for bogus Not As Described claims should be illegal. Isn't ebay supposed to protect its sellers from buyers who either have remorse or purchase an item that is the wrong size or doesn't fit? WELL, THEY DON'T!!

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by: thebobman This user has validated their user name.

Thu Apr 16 00:55:17 2015

$35k or better. Below that, I feel that I have to start watching how I spend and not enjoy some extras, but when I start making $55-60k, the taxes get to the point where I feel that 20 minutes out of every hour I work is going to taxes, so my effort drops off dramatically.

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by: Gina This user has validated their user name.

Thu Apr 16 00:55:29 2015

All I ever asked was to make a simple living.  Once my on-line profits dropped below Welfare...why bother?
I had more and more "officials" demanding more and more money for which they did NOTHING!  The final straw was my home insurer demanding that I purchase "commercial insurance" if I wished to have a home business.  This would cost "hundreds a month" and without it they'd refuse to insure my home.  I simply told them to remember me when they pay their taxes because those tax dollars now support those like me whom they have run out of business!

eBay protect sellers?  I think we've disputed that lie beyond all proof!

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by: Moonwishes This user has validated their user name.

Thu Apr 16 01:53:42 2015

Considering other income we have coming in, I would have enough if I could sell $2500-$3000/month before expenses. The profit helps to pay the bills, allows savings toward taxes both income and property, stashing some towards when we can't work at all, and a very simple goal of letting me buy what I want at the grocery store. And keep me in reading material via my Kindle. I don't ask for much, but to have enough to share with others is great as well.

I didn't read about this guy, but saw a blurb about him on Facebook.

I have seen those studies in other books, that after awhile what in the world do you do with all that money, Like ebay's JD -- what could he possibly need or want with all that money to spend. I'd be spending all my time trying to figure out worthy charities, or to pay our school district's budget for one year so that everyone in town could get a break from that back breaking tax yearly. Can you just imagine what the people in a town could do if for one year they didn't have to pay a bill that runs most home owners $2000-5000+ a year! I doubt D ever had a thought like that cross his mind since he hasn't run ebay like that. I'm very happy for the Gravity employees. this is a very nice thing that the boss is doing for them. Giving them breathing room. I think most of us would be happy to have breathing room. We aren't asking for a $million$, but enough to get by and have a treat once in a while as well.

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by: comet This user has validated their user name.

Thu Apr 16 02:06:50 2015

I'd be happy if I could once again pay at least the property taxes on our very modest rural NY home from what I make from ebay in a year.  

I WAS able to do that for about 10 years in a row--and do some quite nice OTHER things besides---but now--I would be lucky if I could pay taxes on my chicken coop via what I am making on--ebay.

The fact that WHEN my items can apparently be SEEN I am SELLING stuff shows ME that it is NOT the merch==it's the VENUE that is the FAILURE here.

What company deliberatly LOSES MONEY?  

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This user has validated their user name. by: The End

Thu Apr 16 06:16:42 2015

To live modestly and comfortably here in my area requires an AFTER TAX income of $85,000.
I mow my own lawn, do my own home repairs, and need to add to the retirement fund yearly. I've never owned a new car (or furniture, or new home), and pay cash for a used car every 10 years ($8,000).
Anything less than $85,000 a year, and I'll be in negative territory in 10 years, thanks to the ungrateful Taxing Entities surrounding me.
The cost of health insurance is also an unpredictable variable.

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by: Daisy909 This user has validated their user name.

Thu Apr 16 06:34:15 2015

Enough to quit my day job...

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by: Flying Childers This user has validated their user name.

Thu Apr 16 08:25:17 2015

I too live in NY which is the worst state in the USA when it comes to Big Government taxes, fees and outright theft of your labor and income. There are fees on top of fees no matter what you do and given the tax structure, there is almost no way you can have a legitimate business here unless you're in with the politicians. Even small time contractors end up paying most of their income to taxes and we have to support a huge number of people, mostly illegals, who are sucking us dry with all their benefits and what it costs our school systems to take care of their numerous kids. We are still working past the age of retirement and figuring out an exit strategy. I have a few hundred sales mostly on Etsy, but nothing serious.

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This user has validated their user name. by: Basset

Thu Apr 16 08:47:00 2015

LOL - After recent sales, I thank heavens for Mr. Basset's good job.  If it were up to my income we'd be living in a camper.  But then, some might enjoy that very thing!

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This user has validated their user name. by: Al G

Thu Apr 16 09:40:51 2015

If I wasn't making enough selling online to be happy, all of you wouldn't have had the opportunity to view my tomes. (^ ^).

For whatever circumstances & reasons I truly am happy with the gross income I pull in online even on the net side (gross minus eBay agita etc). It beats the 8-5 grind. But then again, I'd be willing to wager that 90% of the entities here are in the same boat. Yes, more MAY be better, but think about it - has your lifestyle adjusted to your income to be happy or has your income adjusted to your lifestyle.

Reservations are now being taken so the guru can answer your questions on life & income.

Cheers!

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by: songe-d-automne This user has validated their user name.

Thu Apr 16 10:30:57 2015

I am happy with enough to pay my bills.

Get my kids something nice once in awhile.

Maybe go out to eat a couple times a month.

And last, but most important to me (because it's time I spend with my kids) go on my once-a-year August vacation without having to slum it at the one-hour parking spots at the beach, lol.

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This user has validated their user name. by: Ed Gadfly

Thu Apr 16 12:42:26 2015

It ought to be about more than money.

You ought to be able to lie down in peace to sleep.

You ought to have trust in your business partner.

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This user has validated their user name. by: LasVagueness

Thu Apr 16 13:30:59 2015

Just enough to keep me ensconced in a luxury condo on the Las Vegas Strip. I rarely leave my home so nothing more.

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by: RCL This user has validated their user name.

Thu Apr 16 13:36:59 2015

Uh. Profit?

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by: gizmo This user has validated their user name.

Thu Apr 16 19:30:49 2015

Its hard to put a yearly on anything , it varies upon changes. My bills are payed , I eat , have little luxury , cannot slow down.

Since 911 , everything has been quirky , at best. Rebuilding has been very slow.

Profit ? Happy ? Retire? I cannot think of such things , I still breath , & have family needs . I cannot make enough, to make me happy , not yet. Im spread out 6 ways to sunday. Theres no end in site.

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by: truevisionary This user has validated their user name.

Fri Apr 17 10:16:32 2015

I still work at my day job. My goal when I first started selling online 8 years ago was to pay off our house. Once I achieved that my goal was to buy a house for each of my 2 children. I am half way there and half way happy. Google "john goodman gambler" and watch the first youtube result on what it takes to be happy.

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by: Volvo351 This user has validated their user name.

Fri Apr 17 20:21:02 2015

OK, I'll settle for one measly CENT per DOLLAR that the corrupt BoD pays The Hoe!

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by: AgendaSwallowsAll This user has validated their user name.

Fri Apr 17 22:51:42 2015

Enough to put JD & Co. out of business.

Oh wait, there isn't a shred of intellect that says it isn't exactly what they're trying to do to the site with the Bain & Co. handbook.

Guess I'll have to come up with something else.

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