Here you go:
It's a classic and everyone should watch it. Although I think two and a half million dollars is way too much. Using the 4% safe withdrawal rate (here, here, here and here) it provides you with a disposable income of $100k/year. You could live like a king on much less if you're not in the most expensive cities in the world. Bottom line is: although it's nice to have a shitload of money, after a while you start experiencing the law of diminishing returns. Simply put this means your first dollar is much more valuable than the one you make after you've already acquired a million. So somewhere comes a point where making more money isn't worth your time. Of course it depends on the individual, there are folks who want to buy jets, others who feel like they need a solid gold bathtub. I'd say becoming a multimillionaire requires too much sacrifice for little benefit. The only exception would be if your investments make more per annum than you spend. In that case it's only a question of time before you become one. The magic of compound interest.
It's a classic and everyone should watch it. Although I think two and a half million dollars is way too much. Using the 4% safe withdrawal rate (here, here, here and here) it provides you with a disposable income of $100k/year. You could live like a king on much less if you're not in the most expensive cities in the world. Bottom line is: although it's nice to have a shitload of money, after a while you start experiencing the law of diminishing returns. Simply put this means your first dollar is much more valuable than the one you make after you've already acquired a million. So somewhere comes a point where making more money isn't worth your time. Of course it depends on the individual, there are folks who want to buy jets, others who feel like they need a solid gold bathtub. I'd say becoming a multimillionaire requires too much sacrifice for little benefit. The only exception would be if your investments make more per annum than you spend. In that case it's only a question of time before you become one. The magic of compound interest.