That's whywhenoftentimesyouhearaboutthestatisticthatmostpeople, theyonlyneedsomebasicamountofmoney, say, 60 k 100 k somethinglikethat, Oncetheygettothatlevelofincome, additionalincomedoesnotreallychangetheirlivesallthatmuch.
Andthat's prettymuchtrue.
I'd havetoagreewiththat.
Youknow, I mademy 1st 1,000,010 yearsago, and I wasstilllookatpeoplearoundme, mypeers, peoplewhohave 10 timeslessmoneythanme 100 times a 1,000,000 timeslessmoneythanme.
Sometimes I actuallybedatingsomebody, andthenassoonas I accidentallyrevealthat I'vegotsomemoney, I seealltheintentionsofworkingforthisotherperson.
Theyjustvanish, andthepresidentjuststartsimaginingcityonthebeach, andthat's notreallythedirectionyouwanttogobecauseit's a shorttermgain.
Butoverthelongterm, youdon't realizeyourfullpotential, andyoualwayswanttoseehowfarcanyoureallygoas a personandover a longperiodoftime, maybeover, say, 10 years, 20 years.
Youmaybeabletobuildupsomethingmore, somethingfarmorethan $1,000,000 there's a lotmoreinvalue, too.
Helpyoubuildyourselfesteem, helpyoubecome a functioningmemberofsocietyandseewhereyoucangofromthere.
It's a lotfunnier.
I cantellyouwhenyou'reactiveandyou'reoutofthemaboutdoingthingsthatyouthinkaremeaningful, making a differenceinsteadofjustsittingalonebyyourselfonthebeachdrinking a maitai.
Andthat's funforonlysolong.
Andas I mentioned, thelifestyledifferencebetweensomebodywhohas, say, like, a 1,000,000 bucksandsomeonewhohas 100 K inthebankvery, verysimilar, there's almostnodifference.
Allmoneygetsus a littlebitmorestability, security, flexibility.
Butit's notlike I couldjustgooutandbecome a rockstarguitaristrightnow, right?
I can't justgopursuingyourdreamthat I want, because I knowthateventhefiretotryanddothatnoworif I wanttogobecome a painter, anartist, youknow, it's justnotgoingtobe a productiveuseofmytime.
Youwantandrealize, though, wasthatitwasverydifficultformetogobacktoworkbecause I couldn't find a jobthatwouldpaymeamount.
Thatwasmeaningfulenough.
Ifyou'vegot, like, a 1,000,000 bucksinthebank, thenpickingup a jobthatpaysyousay 100 K salaryandthentaxestakeoffhalfthatgetsyou 50 k a year.
It's justnotworthatthatpoint.
Andsothat's why I meanthathavingmoneydemotivatesyouitMissalignsyourprioritiesandjustdoesn't makesensetobeworkinganymore.
Butthat's really a shorttermdivision.
It's funnythat I rememberatonepointitmademoresenseformetojustfocusontaxoptimizationstrategiesinsteadofactuallyworking.
Andsothat's what I didfor a numberofmonths.
I justlearnedallabouttaxes.
Businesstaxeshadtocomeupwiththeproperbusinessstructurebecauseanythingelse I woulddowithhavemisalignedwiththeamountofmoney I wouldbemakingfromthat.
Butifyouweretoexpandyourmindofthoughtandtotake a lookatall, theassetsaretrulywithinyourreachwithinyourcapabilitieswithinyournetworkandthencomewithsomeventure, somebusinessideathatmaybeworthWell, onethingtorealizehereisthat I knowthat $1,000,000 soundslike a lottoyou, butovertime, actually, it's notsomuch.
Infact, I wouldsaythatmostpeopleintheirliveswillaccumulate a $1,000,000 inwealthatsomepointrightintech, forexample, youmayget 100 k salary, andthat's prettystandard, andovertimeyouwouldactuallygouptomaybe 200 K 300 gayorhigherthanthat.
Andifyouweretomakelike 100 K salaryfor 20 years, andthentaxtakesoffhalfofthat.
That's a 1,000,000 bucksrightthere.
Mostpeoplebythetimethey'reintheirlateforties.
They'veprobablyalreadygot a 1,000,000 buckssavedupbecausethey'vebeenworkinginabout 20 yearsbythen.
Sothat's thefunnythingis, I thinkthequestionisnothowtobecome a 1,000,000 there, becauseallofusalreadyareinsomesense, right.
It's justdelay 20 yearsorso.
Butinthemeanwhile, ifwestillcontinuetoremainproductivepeoplethinkingaboutthefuture, tryingtobethebestthatwecan, we'restillgoingtobeliving a prettydecentlifestylestilllivinginlifestyleasifwehadaccesstomanymorefunds.
So I thinktherealquestionis, howdoyougetto a 1,000,000 bucksfast, right?
Let's sayyoudon't wanttowait 20 years, andthatreallyhastodowithwritingwaves.
I havebeen a numberofatmilliners, rightwhenFacebookatplatformopenedupwhen I phonedthatplatformopenupwhenandroidatplatformopeneduporwheneverybodywasmovingtomobileTherehavebeenhundreds, ifnotthousandsortensofthousandsoffatmillinersmintedovernight.
TherealmoneyIfyoureallywanttomake a lotofmoneyfast, ifyouwanttogetto, saythe $1,000,000 level, you'regoingtoneedtofindthewaytoactuallysell a realproduct, andthat's forrealmoneyfromit, notjust a fewcentshereandtherefromadvertisingover.
Although I wantedtoremindyouguysthatwhenyouactuallygettosaythe $1,000,000 mark, nothingchanges, youdon't feelanydifferent.
Youdon't feelspecial.
It's notlikeinthemovieswherepeoplebecome a 1,000,000 thereandthentheycangoliveinthehouseoftheirdreamsandgositonthebeachorsomethinglikethat.
Likefor a while, forexample, I wasdoingphotographyand I couldn't getpeopletopaymeforit, anditjusttookupsomuchofmytime.
I juststoppeddoingit, andthatwasprobablytherightchoice.
Atsomepoint, whenyoudoreachsomelevelofsexasyou'regoingtofindthatyouhadaccesstothiswealth, thisamountofmoneyallalong, you'llreachlike a 1,000,000 bucksandwealthinyourbankaccount, andthenyougoshowittoyourmomanddadlike I did.
Yourdadmightcomeandsay, Yeah, that's nottoobad.
Nottooshabby.
Youstillhave a waystogo, though, andthenyougolookatyourauntandfindthatsheandherhusbandareoutlivinginsome $3 millionhouseoverlookingthebay.