What's next if you have a million $?

[TripleB]

Two Million Dollars.

[TravelerMSY]

Move to Thailand. Retire.

[glitch99]

@minnow99

They say making the first million is always the hardest. I think I know why. It’s because you had to try new things to make that first mil. After the first mil, you know how to make and invest money, so the 2nd and 3rd mil become easier and less stressful.

It’s harder because growing to $1 million from $100k is 1,000% growth (10,000% from $10,000), while adding a second million is only 100% growth. The first million is the hardest because after that, you have a million dollars generating additional returns each year, beyond what you’ve been doing.

[javaman2003]

Having reached a milion you will realize that it is not much. Especially, if you look in terms of your annual spending.

I think this millionaire thing started in 70s(??). So, in 70s, i think a Cadillac was going for $8k. You could buy 125 of them. Now, it goes for $50k. So, your net-worth should be $6.25MM. In that sense, you have a long way to go. Keep chugging along.

[meed18]

What’s next? Philanthropy.

[pattyb53]

Yes, agree with glitch99.

That first million was hardest because at the time a person had $$ bills coming in every month. Now, speaking of myself, home, cars etc all paid off in full. Just paid Quarterly state & fed taxes. As the saying goes “death & taxes”.

Now the millions are compounded & growing. So personally I’m just waiting for higher % interest on liquid funds. Waiting for Ken to have an amazing order to “jump for”.

[qcumber98]

Don’t remember. A million $ seemed like a long time ago.

[dawhim]

money is just a number after certain threshold. of course, it is a number that can make things easier.

Last time I was employed was years ago, now, I just do things I want. It is hard to see what I will change if I have a million. I like having no money on paper. These days, it is getting a harder to hide your wealth. hah