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I used to think that as well. When I started out, it was "I'll be happy when I make 50k." Got a job at 60k, and it quickly became, "Man, if I had 100k per year, I'd be all set." Got that job. "Ok, 100k is almost doing it. 150, and I know I'll be good." That came and went as well. Every single time, my lifestyle adjusted to my income.
The biggest challenge to becoming wealthy is not the income, it's the saving. I'm still working on that one.
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So, so true. What most people do is increase their liabilities as their income increases, I personally don't do it that much. As far as savings go, I find it incredibly easy, i get it deducted from one account into another automatically so I don't even notice. I can then use this money to invest - it feels like 'free' money
nvictor, if you are looking just $1000 a month positive cashflow, consider real estate investing. You could get your goal in a few months never mind 5 years if you really wanted. Tenant income obviously needs to be higher than the mortgage repayments, e.g. if you could raise $600 in rental income and had to repay $450 in mortgage repayments, you would only need to own 6-7 homes. It all depends on what the market is like where you are. You could always buy in a different part of the world for quick capital gains, e.g. Bulgaria was good for a while, as it recently joined EU, 25% increase or so annually. Obviously this is great as its a leveraged investment i.e. your actual investment might be $10,000 but you are earning 25% interest on $100,000
Obviously if you have no initial capital you need to start saving or find a way to serve enough people to attract it.
Thanks
Mark