View Single Post
Old 06-25-2009, 02:49 AM   #4 (permalink)
Still Growing
Senior Member
 
Join Date: Nov 2006
Posts: 909
Still Growing is on a distinguished road
Default

I'm a serial entrepreneur and have been pretty successful. I feel rich because I don't have to work but when I look around I see so many people with bigger houses, nicer cars and most are in super debt. I love being debt free and having a good income.

Here's what I've found for me personally:

1. $10K to $30K year: I really struggled here with life's expenses. I felt like I couldn't get ahead.
2. $50K to $70K: I remember being able to buy more, do more. A lot more freeing to me than before.
3. $100K: I remember a distinct lifestyle difference and having excess money to do things. I also started eating better food and not just looking at the price. I started taking nice vacations abroad and investing into companies.
4. $300K: Not a huge difference than $100K to me. I didn't change my lifestyle at all. I made new investments and started saving more.
5. $1 mil year net profit: I'm not there yet but would love to be some day. I am sure I would never risk it all but I'd be able to take more aggressive risks into new companies.

I have found though that when people don't see obvious wealth they don't really listen to you when it comes to business advice. I've had friends and colleagues make smart remarks to me disrespecting one of my businesses. After several years of knowing one of my friends they found out inadvertinently that my company was actually 10 times larger than they had thought. Its interesting how people treat you differently when they find out these things. I value privacy, humility and financial security more than impressing.

I do feel rich but I never really show it that much.

I feel that if I lost it all I'd still be happy and still be back to being wealthy in 5 years.

I really do believe that most rich business people that are self made know more about business and about markets and human nature. Making it big is not like winning the lottery its more like solving hundreds or thousands of problems along the way to your goal. As long as you remember what got you there and have your health you will always be wealthy.

When my child is old enough I'll tell them "Spend less than you earn and you'll always be rich"

Money isn't how I evaluate others and its not my highest objective. I strive to grow more as a person, to inspire others and to bring new products to the market that change their respective markets in some way.

Last edited by Still Growing; 06-25-2009 at 03:09 AM.
Still Growing is offline   Reply With Quote