Do you need all of that money?

[Crumbs2Bricks]

In a few threads, I've seen some mention that they want $100 million in net worth. I was wondering, is it because you think you need that much or do you want that much? Just curious, why do you want that much money?

 

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[cants]

In a few threads, I've seen some mention that they want $100 million in net worth. I was wondering, is it because you think you need that much or do you want that much? Just curious, why do you want that much money?

Most people here only want $5M-$20M for freedom. For me anything beyond $20M is just an additional "0" in your bank account, you won't need it unless you're building some sort of charity foundation or you want to be some business tycoon.

 

[Crumbs2Bricks]

Most people here only want $5M-$20M for freedom. For me anything beyond $20M is just an additional "0" in your bank account, you won't need it unless you're building some sort of charity foundation or you want to be some business tycoon.

Yeah, I'd say anything up to $25 milly is more than enough. Especially getting interest checks on $15 mill. That's enough to live and not touch the $15 mill.

 

[Vigilante]

The sky's the limit. With $5m, I could donate to cancer, but with $100m we might cure it. With $3m, I could take care of my family, but with $20m I could set up the next several generations. With $4m, I could impact Dystonia, but with $50m we might be able to cure it. With $6m, my family would achieve several material goals, but with $60m I might be able to make a permanent impact on hundreds of families. I need money for a lot of things, and several diseases that are personal to our family that we need to fix. Cancer, Dystonia, ITP, and Erythromelalgia are on my short list.

I am surprised with the willingness that people have to discuss these numbers. I think the goals are personal, as are the motivations.

I can honestly tell you I don't have a number. My only number is more. With more, I can do more, affect more, live more, and bless more.

My number is more. You'll never know either what I end with, and what I do with it because my name will never be in the papers. I will leave a legacy that is much larger than me.

 

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[Lights]

It doesn't hurt to dream. I would love to have 10 million though, but anymore is just like fancy ice cream for me.

I do not want to retard my success though, so I'll dream for everything.

 

[Kak]

In a few threads, I've seen some mention that they want $100 million in net worth. I was wondering, is it because you think you need that much or do you want that much? Just curious, why do you want that much money?

Yes I want all of that money. Because I believe there should be no limit to what I think I can acomplish. I will chase opportunity because I like it and if 100m happens it happens, if 5b happens it happens.

 

[The-J]

I don't want all of that money because I wouldn't know what to do with it.

Instead, I'd make enough money so that I would no longer have to worry about it, and then use my time to do the things I care about to help the people I care about.

 

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[socaldude]

The way I look at it is this: I will try my absolute best to deliver as MUCH value to society as much as possible. Which directly translates to money.

For the most part when a few of the folks here become millionaire Fastlaners, there's a huge chance that they will OVER shoot their mark. You might say your number is $5 million but you might end up selling your company for $15 million. :jiggy:.

I agree 100% with Vigilante. Can you imagine how many charitable causes you can help with a ultra multi million dollar net worth. Imagine the look on a happy kids face who has cancer all because of your charity.

You wanna inflict as much value on society as possible which translates to as much money as possible. Yes I need 100 million. I want every single person on this forum to be filthy stinkin rich. I don't wanna go out there into the Entrepreneur world doing the MINIMUM and half a$$ it; I wanna go all out and create as much value as possible, which means as much money as possible.

Imagine all the charitable things you can do with $200 million dollars without even touching the principal! Yeah some sick a$$ yachts and planes but imagine all the people you can help who got the short end of the straw(kids with horrible illnesses, disabled people etc).

 

[Lgallion]

Although I agree 100% with socialdude, you don't need to even think of charity. Why? Because business is an exchange of money for something you deem more valuable than that money. Unless you are cheating people with false advertising or defective products, you are making them happy with each and every sale. For example, I sell a software product that makes staff & managers jobs much more efficient. People love it and they buy it although it costs thousands. I purposely price it so even one or two of its feature are worth the price and the rest is 'extra value' so the customer gets more than they paid me, guaranteed. If I DON'T sell it to someone in my market, I am hurting them - that is the way I approach the business and my marketing efforts. You HAVE to see this, your staff & managers will love it, it will make their jobs & your company better. I really believe this and have been told this by my customers. That is what makes me happy to be in business & make money (plus I do the charity thing too, but that is bonus on top of bonus).

 

[sambreaker20]

I believe the more zero's the bigger the impact you can make. You obviously can have more impact at $100M than at $5M. It kinda annoys me when people say I want $10m but woah $100m is too much I dont want that much money.

 

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[Crumbs2Bricks]

I believe the more zero's the bigger the impact you can make. You obviously can have more impact at $100M than at $5M. It kinda annoys me when people say I want $10m but woah $100m is too much I dont want that much money.

Believe it or not, there are some people that don't want that much money. Not everyone is trying to "set the world on fire" and that's perfectly fine.

 

[DeletedUser394]

Y'all are boring. I want 100 trillion dollars, spend my free time throwing stacks of hundred dollar bills out the window of my Reventon.

 

[theag]

Y'all are boring. I want 100 trillion dollars, spend my free time throwing stacks of hundred dollar bills out the window of my Reventon.

You moved to the US? (locale in your profile)

 

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[santa]

[video=youtube;0CDXJ6bMkMY]http://www.youtube.com/watch?v=0CDXJ6bMkMY&list=FLgifQvL6sghwn5OwyhZTeTA&index=2&feature=plpp_video[/video]

Someone posted this video in another thread- he makes a great point at about 7min-10mins about the validity of shooting for lower monetary goals (ie. aiming for a billion vs a million).

You obviously can have more impact at $100M than at $5M. It kinda annoys me when people say I want $10m but woah $100m is too much I dont want that much money.

It can be intimidating for some though. "With great power comes great responsibility". With a $100m, if you wanted you could really make a massive direct and sometimes near instant impact on many people/countries/environment etc- that can feel like a lot of responsibility and pressure. Especially if you are not used to working with such sums and so on.

 

[FastNAwesome]

[video=youtube;jTmXHvGZiSY]http://www.youtube.com/watch?v=jTmXHvGZiSY[/video]

 

[FastNAwesome]

My only number is more.

Legendary words. Speed+

I need money for a lot of things, and several diseases that are personal to our family that we need to fix. Cancer, Dystonia, ITP, and Erythromelalgia are on my short list.

You might want to look into this book for inspiration (it covers not just cancer but many other "seemingly incurable diseases" as the subititle of the book is) - it is controversial to some, and the recipes are anything but "yummy". Author is a doctor, and it's an old old book:

The Breuss Cancer Cure: Rudolf Breuss: 9780920470565: Amazon.com: Books


EDIT: I just checked reviews on amazon, but one of them says that the English version seems not to be complete to the word. The book was originally in German, and I think it's very old, not sure about copyright, maybe it's expired and some German fastlaner can do a proper translation and sell it.

 

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[joona]

I don't want all of that money because I wouldn't know what to do with it.

Instead, I'd make enough money so that I would no longer have to worry about it, and then use my time to do the things I care about to help the people I care about.

My thoughts exactly. And I think I might get a bit paranoid of meeting new people if I'd have 100+ millions.. I think I'd wonder if they want to be in my life because of me or because what I could do for them.

 

[dknise]

In a few threads, I've seen some mention that they want $100 million in net worth. I was wondering, is it because you think you need that much or do you want that much? Just curious, why do you want that much money?

I'm shooting for that first million. And before that there are goals at every point. Just a month ago when I quit my job, my goal was that first hundred. Check haha. Now the goal is $1,000. I'm not focusing on that end goal, but know focusing on each smaller portion will get me to where I want to be.

I think once I do have $5m+, I'll have the resources to do a project that could potentially bring in a hundred million. Thinking about that now though would be a complete waste of time haha, so I'll just leave that decision for when I get there, and focus on the smaller goals now.

 

[Maxjohan]

You only need to flip 2-3 businesses before you can turn in to a billionaire.

It works something like this, in theory:

Business 1: $1000-$10,000 invested in the business. Sold for $1 million.

Business 2: $100,000-$1 million invested in the business. Sold for $40 million.

Business 3: $10-$40 million invested in the business. Sold for $2.5 billion.

Now you are a billionaire. I think it's mostly more than two flips. Around three or four if you improve on your skills and grow your skills along the way. This plan only works if you are easily distracted and want to try new things all the time. The other route is to work with only one business and make it huge and never sell it.

Personally I would be good with $5-$10 million. Even $2 million would be cool.

But I'm aiming for billions. Flipping businesses along the way. Starting out small and grow my net worth over time. And yes, it takes years, not days, weeks or months. Thanks MJ for pointing this out in the book. Personally I don't think 10 years is too long a time.

It goes by quite fast. Just my two cents.

 

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[Tommy92l]

100 million really doesn't seem like a lot (check out the thread I posted about perspectives and billionaires), I mean, I think one of these billionaires yachts ALONE costs upwards in the hundreds of millions.

I think it would be great helping endless amounts of people and not really caring so much about your bank .

 

[The-J]

100 million really doesn't seem like a lot (check out the thread I posted about perspectives and billionaires), I mean, I think one of these billionaires yachts ALONE costs upwards in the hundreds of millions.

I think it would be great helping endless amounts of people and not really caring so much about your bank .

If you spend more than $100 mill on a yacht, you're wasting your money.

I dunno, I see lots of billionaires give tons of money to charities but I see no real progress. I want to feel the progress.

My ambitions lie in becoming a modern-day Renaissance man. da Vinci was paid a stipend by the Medici family just so he could create art and perform scientific experiments. His waking hours were spent on arts and innovation. That's what I want. I want his freedom so I can do the things he did. Sure, my accomplishments may never even come close to his, but I will at least have the time to accomplish.

 

[sambreaker20]

Billionaire in 10 years will be totally worth it LOL:driving:

You only need to flip 2-3 businesses before you can turn in to a billionaire.

It works something like this, in theory:

Business 1: $1000-$10,000 invested in the business. Sold for $1 million.

Business 2: $100,000-$1 million invested in the business. Sold for $40 million.

Business 3: $10-$40 million invested in the business. Sold for $2.5 billion.

Now you are a billionaire. I think it's mostly more than two flips. Around three or four if you improve on your skills and grow your skills along the way. This plan only works if you are easily distracted and want to try new things all the time. The other route is to work with only one business and make it huge and never sell it.

Personally I would be good with $5-$10 million. Even $2 million would be cool.

But I'm aiming for billions. Flipping businesses along the way. Starting out small and grow my net worth over time. And yes, it takes years, not days, weeks or months. Thanks MJ for pointing this out in the book. Personally I don't think 10 years is too long a time.

It goes by quite fast. Just my two cents.

 

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[Kak]

You only need to flip 2-3 businesses before you can turn in to a billionaire.

It works something like this, in theory:

Business 1: $1000-$10,000 invested in the business. Sold for $1 million.

Business 2: $100,000-$1 million invested in the business. Sold for $40 million.

Business 3: $10-$40 million invested in the business. Sold for $2.5 billion.

Now you are a billionaire. I think it's mostly more than two flips. Around three or four if you improve on your skills and grow your skills along the way. This plan only works if you are easily distracted and want to try new things all the time. The other route is to work with only one business and make it huge and never sell it.

Personally I would be good with $5-$10 million. Even $2 million would be cool.

But I'm aiming for billions. Flipping businesses along the way. Starting out small and grow my net worth over time. And yes, it takes years, not days, weeks or months. Thanks MJ for pointing this out in the book. Personally I don't think 10 years is too long a time.

It goes by quite fast. Just my two cents.

I like this lol...

 

[deepestblue]

This topic is a nice warning to avoid the middle/lower class money mindsets like the plague.

Our income is in direct proportion to our contribution - read Vigilante's response in this thread.

"The higher you lift your thoughts and goals, the greater will be your success, the more blessed and enduring will be your achievements."

 

[Kak]

The biggest problem people have is that they get comfortable. I hope some of yall don't get comfortable at 60k, 80k etc. That would suck.

I like socialdudes take on it. Why not make the biggest impact you can?

 

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[Rerun]

My only number is more.

Vigilante is spot on. Regardless of what your number is, when you reach it you'll realize it wasn't enough. Not only will you want more (to accomplish more), but your mind will open in ways that will allow you to see what you can actually do with money... and no matter how much you have, you'll realize how little it is.

Not that you can't be happy with what you have or that it isn't important to set goals. Goals are made to be smashed.

 

[Kak]

There you go. A life without goals would suck.

 

[DeletedUser394]

You moved to the US? (locale in your profile)

Not yet, perhaps someday. I'm there in spirit haha

 

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[Hlaz]

401 North Wabash Avenue PH89A CHICAGO, Il 60611 | Homes for Sale by Baird & Warner

trump tower penthouse sweet top floor

 

[Kak]

401 North Wabash Avenue PH89A CHICAGO, Il 60611 | Homes for Sale by Baird & Warner

trump tower penthouse sweet top floor

Holy living shit! But Chicago...