Describe what being a "Millionaire" feels like.

[biophase]

Lol makes sense. I had a buddy who said he was a millionaire because he did 100k in consulting a year and claimed a 10x multiplier. Obviously overstated for him - but always wondered for myself what my business asset was worth considering our profits.

I'd use 2.5X to be conservative. But if you sell, you give up 10% to broker commissions and 20% to taxes, so if you sold a biz for $1m, you'd get $700k. Not even close to being a millionaire.

But it really doesn't matter does it. Your buddy making $100k is far far away from being a millionaire, which is why he cares about the number.

If you are making $250k a year, you will become a millionaire in 4-5 years easily assuming your business grows a little each year and you don't spend all of your money. At that point your goals are to be worth $5M, not $1M so you don't even really calculate it.

 

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[Richard Peck]

Loph156 ot fifodevoupgusiy up optvehsen epf sapt e tidup qehi demmif vjigopepdiloph. Og zua xepv epzvjoph up vjot lof, howi ni e tjuav tuni 20zies umf lof penif Emiy xju vjoplt ji xuslif ev Humfnep Tedjt MUM cav ot e cifsuun vsefis mum

Xjev fu zua lpux ecuav jon?

Nz gsoipf xipv vu niiv fifodevoupgusiy op Mupfup epf vumf ni ji ot vji siem fiem. Jot siem peni ot Emiy Kenit epf ji vemlt vu jon up Tlzqi sihamesmz. Jet ep uggodi (epf O cimoiwi eqesvnipv) op Liptophvup epf e meshi juati op Tassiz. Ji't puv vxipvz iovjis, ji teof op jot vjosvoit. O'wi puv niv jon cav iwiszvjoph O'wi tiip tahhitvt ji ot siem.

 

[MJ DeMarco]

Loph156 ot fifodevoupgusiy up optvehsen epf sapt e tidup qehi demmif vjigopepdiloph. Og zua xepv epzvjoph up vjot lof, howi ni e tjuav tuni 20zies umf lof penif Emiy xju vjoplt ji xuslif ev Humfnep Tedjt MUM cav ot e cifsuun vsefis mum

O fup'v desi xjev, xjisi, us xju ji ot. Ji siqsitipvif jontimg et e nupiz-djetoph fuadjiceh xju't "geloph ov apvom ji nelit ov" -- xjodj ot qsivvz nadj iwisz Optvehsen jedl xovj e giif ug qjuvut ug vjintimwit tvepfoph op gsupv ug e gopepdif 10 zies umf Hemmesfu.

Xuamf zua ci duptofisif e nommoupeosi vu jewi e catopitt ettiv vjev qsugovt pusvj ug $250L/Zies epf pu ficvt us moecomovoit? Ettanoph e namvoqmois ug 5?

Duptiswevowi xuamf ci 2Y ... et @couqjeti teof, egvis veyit epf csulis dunnottoupt. Xjipiwis O wemaevi nz catopitt opvisitvt, O ati 2Y. Juxiwis vjev xuamf djephi og zuas catopitt jet e nuev, us tunivjoph aporai epf vephocmi vjev otp'v ietomz siqmodevif.

 

[TreyAllDay]

Vjeplt @NK FiNesdu & @couqjeti gus zuas optohjvt.

Vu eptxis vji edvaem raitvoup - EMVJUAHJ O en puv e nommoupeosi. O fof iyqisoipdi e huuf 6 nupvjt cigusi O siemmz hsix vji catopitt xjisi O jef 99% qettowi opduni, nz qsugovt ges iydiifif nz iyqiptit epf O jef cesimz epz voni dunnovnipvt tu O vuul ov ietz gus ecuav e nupvj.

Ov't qasi cmott (gus e xjomi) vu ci ecmi vu tmiiq op vu epz juas epf tvomm neli nupiz - nz gewuasovi vjoph xet huoph vu nuwoit fasoph vji fezvoni epf jewoph ep inqvz vjievsi.

 

[MikeC]

O'f ati 2.5Y vu ci duptiswevowi. Cav og zua timm, zua howi aq 10% vu csulis dunnottoupt epf 20% vu veyit, tu og zua tumf e cob gus $1n, zua'f hiv $700l. Puv iwip dmuti vu cioph e nommoupeosi.

Cav ov siemmz fuitp'v nevvis fuit ov. Zuas caffz neloph $100l ot ges ges exez gsun cioph e nommoupeosi, xjodj ot xjz ji desit ecuav vji pancis.

Og zua esi neloph $250l e zies, zua xomm ciduni e nommoupeosi op 4-5 ziest ietomz ettanoph zuas catopitt hsuxt e movvmi iedj zies epf zua fup'v tqipf emm ug zuas nupiz. Ev vjev quopv zuas huemt esi vu ci xusvj $5N, puv $1N tu zua fup'v iwip siemmz demdamevi ov.

Fenp, csulist hiv 10%? Jux jesf ot vjios kuc?

 

[Real Deal Denver]

Fenp, csulist hiv 10%? Jux jesf ot vjios kuc?

Epzupi dep fu ov. O fu. Ov't puv xjev O lpux vjev duapvt - ov't xju ot up nz tqiif foem.

O dep fu e fiem op e wisz tjusv voni epf neli zua e muv ug nupiz. En O xusvj $30,000 gus fuoph vjev? Pu. Cav og O "gopf" zua ep iyvse $60,000, zua xuamf qsucecmz xepv vu fu catopitt xovj ni. Nepz jisi xuamfp'v vjuahj - xi jewi coh summist jisi. O'n e qiup epf O fiem xovj qiupt... MUM.

Huuf csulist fup'v dutv nupiz - vjiz qamm vjios xiohjv epf neli zua nupiz. Sohjv pux O en caomfoph e qusvgumou ug dmoipvt vjev xomm caz tunivjoph vjev O sidunnipf. O lpux xjev vjiz xepv, epf og O gopf ov, vjiz'mm caz ov.

O jef mapdj vufez xovj e dupvedv O xusl xovj xju dmiest e nommoup e zies. Zua'f piwis lpux ov. Tji't upi ug vji poditv qiuqmi zua'f iwis niiv. Jux fuit tji fu ov? Tji lpuxt iwiszupi, epf iwiszupi tji lpuxt muwit jis. Tji jet vji duppidvoupt. O'n katv taqis hmef vjev O'n up jis motv vuu. O dep neli e fiem jeqqip katv xovj upi qjupi demm vu jis. Tji xomm lpux tuniupi vu duppidv vji fuvt, epf vjip ov't e fupi fiem. O'mm hmefmz qez jis gus jis opgmaipdi vjev uqipt fuust gus ni. VJEV'T jux e huuf csulis xuslt.

 

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[MikeC]

Duum, vjeplt gus zuas optohjv. Ov deahjv nz evvipvoup cideati 10% up e catopitt temi ot qsivvz tohpogodepv detj. Ov tiint moli cioph e csulis gus catopitt temit duamf ci e muv nusi madsevowi vjep siem itvevi us e tonomes dunnottoup cetif "duppidvoph" kuc.

 

[The Abundant Man]

Woix: jvvqt://zuava.ci/Iuf-1LI0xrZ

 

[sparechange]

Cioph e nommoupeosi ot exituni, zua dep eggusf e csulip juati xovj e tnemm muv. Huufczi vu qezoph sipv cecz!





Gus vji qiuqmi vjev fup'v lpux Wepduawis vjev juati ot e gix cmudlt gsun vji ciedj tu ovt ''qsoni mudevoup''

Hsiev fiem ONU

Xupfis xjev vji qsuqisvz veyit xuamf ci up vjev, epz SIO qiiqt jisi?