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Esquire.com posted a very interesting article about 4 men with 4 different incomes: $1,000,000 a year, $250,000 a year, $53,000 a year, and the poverty line ($7 per hour plus tips).
Check it here: http://www.esquire.com/lifestyle/money/a44086/four-men-four-numbers/
I think the biggest difference between these guys is their expectations. When asked "Looking at your current career prospects, how much money do you think you'll be earning in ten years' time?" here's what they said:
$1,000,000 a year:
His net worth is at least $5,000,000 now (that's how much he has in savings), so that's 30-40x his net worth now.
This guy knows how to think BIG.
$250,000 a year:
6x his earnings now, or $80k more per month/$1,000,000 more per year.
$53,000 a year guy:
2x, and that's only $53,000 more a year than he's making now.
poverty line guy:
3x, but since he's at $1000-1500 a month now with base salary, that's a small improvement when compared to other guys.
Another interesting difference: guys making the most money (evil greedy capitalists!) don't complain about taxes while the ones who make much less do, even though percentage-wise they pay MUCH less than the rich guys.
To end on a positive note, all 4 guys rate themselves more or less the same on the happiness scale of 1-10 (around 8-9).
Check it here: http://www.esquire.com/lifestyle/money/a44086/four-men-four-numbers/
I think the biggest difference between these guys is their expectations. When asked "Looking at your current career prospects, how much money do you think you'll be earning in ten years' time?" here's what they said:
$1,000,000 a year:
His net worth is at least $5,000,000 now (that's how much he has in savings), so that's 30-40x his net worth now.
This guy knows how to think BIG.
$250,000 a year:
6x his earnings now, or $80k more per month/$1,000,000 more per year.
$53,000 a year guy:
2x, and that's only $53,000 more a year than he's making now.
poverty line guy:
3x, but since he's at $1000-1500 a month now with base salary, that's a small improvement when compared to other guys.
Another interesting difference: guys making the most money (evil greedy capitalists!) don't complain about taxes while the ones who make much less do, even though percentage-wise they pay MUCH less than the rich guys.
To end on a positive note, all 4 guys rate themselves more or less the same on the happiness scale of 1-10 (around 8-9).
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