Re:What It Takes to Be in the 1% Around the World
by cascom on Tuesday February 05, 2019 @08:34AM
(#19085089)
I’ve worked with a few billionaires and a bunch of multi-millionaires and having had this conversation, can tell that the inflection point is where your lifestyle untethers from your finances.
For example, if you just had twins and live in a big city paying for those kids education/uprbringing is going to cost maybe ~$2-4m (NPV) even if you have $10m, that is really meaningful number to you, and less so at $30m, $300m, $1b etc.
Once you hit that inflection point (which is different for everyone) the conversation changes from how do I aforrd to [pay for my kid’s education] to what do I want to do with my life, what do I enjoy doing, what is my legacy going to be....
For example, if you just had twins and live in a big city paying for those kids education/uprbringing is going to cost maybe ~$2-4m (NPV) even if you have $10m, that is really meaningful number to you, and less so at $30m, $300m, $1b etc.
Once you hit that inflection point (which is different for everyone) the conversation changes from how do I aforrd to [pay for my kid’s education] to what do I want to do with my life, what do I enjoy doing, what is my legacy going to be....