Two Million Dollars.
Move to Thailand. Retire.
Itâs 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 youâve been doing.
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.
Whatâs next? Philanthropy.
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 âdeath & taxesâ.
Now the millions are compounded & growing. So personally Iâm just waiting for higher % interest on liquid funds. Waiting for Ken to have an amazing order to âjump forâ.
Donât remember. A million $ seemed like a long time ago.
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