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There's an MFM podcast with founder of Hubspot. He says something pretty sensible along the lines of the first $1m makes a huge difference to your life, the fir

There's an MFM podcast with founder of Hubspot. He says something pretty sensible along the lines of the first $1m makes a huge difference to your life, the first $10m even bigger, after that it's irrelevant. The basic point being you can only sleep in one bed a night, eat 3 meals a day and so really you only need to get to $10m and your life is transformed.

skeeter2020 5y ago
>> really you only need to get to $10m and your life is transformed. I don't think this is as motivational as you believe it is.
- benjaminwootton 5y ago
  It actually applies at smaller levels too. The moment I went from being in debt to having $100 in a savings account was the most transformative. I honestly think it’s diminishing returns from there.
  - mewpmewp2 5y ago
    It's diminishing returns right after you have fuck you money to live in reasonable luxury afterwards, e.g. you can travel as much as you want, order food in, buy latest tech widgets etc without having to ever work again.
    - atatatat 5y ago
      People have the means to change their situation all the time and don't. But a homeless person with $100 gets a room and dinner on a cold night.
  - noir_lord 5y ago
    For me it was realising that my total outgoings (after everything) are now 33% of what I earn every month and I have enough in savings to cover at least 2 years and every month I work adds two to that. It’s not fuck you money in the I can retire sense but it’s more than I’ve ever earnt/saved before and very liberating. Just got promoted so pay is going up again as well.
- giantg2 5y ago
  I find it demotivational because I know I'll never get to that level.
deleted 5y ago
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djohnston 5y ago
I think if you hit the first M and invest it in a reasonably broad manner you'll likely avoid touching poverty again. For someone who grew up poor that might be the most valuable buffer you can buy. But yes of course 10 would be better ;p
id 5y ago
>you only need to get to $10m The problem is making just $100 is difficult for a lot of people.
- HeyLaughingBoy 5y ago
  That's not a problem. Realize that all advice isn't valid for everyone and apply it appropriately.
throwaway_poor 5y ago
That makes sense. Thanks for sharing. I have more friends who've made multiple millions from their businesses and their success doesn't create an itch in me, maybe I should think of him this way.

skeeter2020 5y ago

>> really you only need to get to $10m and your life is transformed. I don't think this is as motivational as you believe it is.

benjaminwootton 5y ago
It actually applies at smaller levels too. The moment I went from being in debt to having $100 in a savings account was the most transformative. I honestly think it’s diminishing returns from there.
- mewpmewp2 5y ago
  It's diminishing returns right after you have fuck you money to live in reasonable luxury afterwards, e.g. you can travel as much as you want, order food in, buy latest tech widgets etc without having to ever work again.
  - atatatat 5y ago
    People have the means to change their situation all the time and don't. But a homeless person with $100 gets a room and dinner on a cold night.
- noir_lord 5y ago
  For me it was realising that my total outgoings (after everything) are now 33% of what I earn every month and I have enough in savings to cover at least 2 years and every month I work adds two to that. It’s not fuck you money in the I can retire sense but it’s more than I’ve ever earnt/saved before and very liberating. Just got promoted so pay is going up again as well.
giantg2 5y ago
I find it demotivational because I know I'll never get to that level.

deleted 5y ago

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djohnston 5y ago

I think if you hit the first M and invest it in a reasonably broad manner you'll likely avoid touching poverty again. For someone who grew up poor that might be the most valuable buffer you can buy. But yes of course 10 would be better ;p

id 5y ago

>you only need to get to $10m The problem is making just $100 is difficult for a lot of people.

HeyLaughingBoy 5y ago
That's not a problem. Realize that all advice isn't valid for everyone and apply it appropriately.

throwaway_poor 5y ago

That makes sense. Thanks for sharing. I have more friends who've made multiple millions from their businesses and their success doesn't create an itch in me, maybe I should think of him this way.