What does it feel like?

[Spazmatic]

The really big, exciting celebration for me was when my business was making enough to allow me to quit my day job. This was well before I was anywhere near 1 million in net worth, but it meant that I was free to set my own schedule and pursue my own goals. I still celebrate my "independence day" each year by taking the day off to get drunk and watch Office Space.

This is my main goal. I cannot wait until I have my independence day. The idea of celebrating that day every year makes me want it even more.

 

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[Rem]

I used to live pay check to pay check and always wondered if I was going to have enough gas in the car to finish out the week. As soon as I actually had money in a savings account I was dancing in the streets.

Now I just push myself to see how far I can go. Rarely does money make me happy directly, although I do enjoy financial freedom. My family makes me the happiest.

 

[LagunaLauren]

I agree with others here that when you reach a certain financial goal, I think you've focused on it so much that by the time you achieve it, the result seems anticlimactic. I remember in college thinking $100k a year was a lot. I reached that quickly after I graduated, but was already focusing on the next level, $250k, $1Million, etc. (And no, the money doesn't seem to go as far as you think it will; somehow, regardless of the financial level, you seem to spend what you make; or is that just me??). Your goals constantly increase and your comfort level changes. I felt like I wanted to throw up the first time I had a mortgage that was over $1Million for my primary residence. Now I don't flinch at a $7Million mortgage. I would like to say that I've stopped to celebrate and smell the roses, but I do just keep going for the next level goals. (Of course it doesn't help when I'm on one friend's 140-ft mega yacht or another friend's private jet. They've really opened my mind to what's achievable and have served as a catalyst for my mega goals...Flying commercial REALLY sucks now! :smxB I do enjoy my luxury cars and beautiful homes, but you do get to a point where you realize time is your most precious commodity. Money is really about freedom and the ability to live your life the way you want. I want to enjoy my life with my family and leave a legacy of philanthropy most of all.

 

[wildambitions]

I just know that last time I played Cashflow, it was NOT pretty!!!

LMAO... I REMEMBER that!!! Sorry, could not resist.

 

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[wildambitions]

We went over that 6 figure income last year... again. For us it was not an accomplishment. It was not a goal. In fact we decided that over that 6 figure income was too much income (for tax purposes) and we planned a way to "make" less. 6 figures to us means nothing more than having to pay higher taxes. Before I make more than that, I want to be able to make enough more to not have to care about how much I have to pay in taxes.

Evidently after our major financial crisis back in 2005, we have learned what it really means to live within our means. And found that there is not really a whole lot we "need". Being hit with a layoff has put this into a perspective that is even easier to see.

We are fine, and we will survive and go beyond to thrive. It maybe won't be as fast as it would have been without the layoff but it is, for us, a quality of life choice. We are blessed in that for the most part, we do get what we want and go where we want, when we want. But it is really nothing more than us following our plan and making the adjustments along the way.

 

[GlobalWealth]

Some say money doesn't buy you happiness. I've had money and not had money. I am always happier with money. The statement "money doesn't buy you happiness" is a broke person's excuse for their laziness.

 

[Rem]

I agree to a certain extent and I believe most people would be a lot happier with financial freedom. I know I feel much better not having the stress of not being able to pay bills or enjoy some of life's finer things.

It also depends on who you are as a person... I know an older fella who freaked out and ended up in the psyche ward each time his bank account fell under a million dollars. Of course he had assets and would try selling off everything he owned so he could get back up into the millions on his checking account. He just got to a point all he could see was how much money he didn't have and not how much wealth he had. Of course he was 90 at the time and going senile but that's beside the point. :smx4:

 

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[LagunaLauren]

In fact we decided that over that 6 figure income was too much income (for tax purposes) and we planned a way to "make" less. 6 figures to us means nothing more than having to pay higher taxes.

:coco: (kidding!!) ...Wow. Interesting perspective. Personally, I have attorneys and CPAs who strategize to legally ensure that I maximize my tax deductions for my companies and me personally, but I accept that large tax bills come with the territory, especially when I'm bringing in a 7-figures. My goal is to always make more money, not less. I have a friend that got audited by the IRS recently. He had to pay an extra $9 Million as a result. $9 Million! He's a fortunate guy; do you know how much you have to be pulling in to have to pay an EXTRA $9 Million? Didn't even affect his mood...That's a problem I wouldn't mind having! Guess it's all in how you look at it.

 

[GlobalWealth]

Maybe I should clarify a bit. Money doesn't buy happiness for sure. But it can eliminate the stresses in your life that can take your focus away from the things that are important.

 

[JayKim]

I agree its a lot more freedom. What you do with that freedom is what makes you happy.

 

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[ChrisREIndy]

Money doesn't directly buy you happiness. It buys freedom, which is happiness.

 

[Rickson9]

I have a question for those who have already made 6 figures or millions. What did it feel like when you reached that milestone? Was it a momentous as I think it'll be? I keep thinking that when I reach a huge milestone like that I'll be dancing in the street even if it's 2 degrees and snowing.

-Andrew

For myself it wasn't different from any other day. It's difficult to explain. The best way I can explain it is to say that my personality when having no money, after becoming a millionaire, and all the points in between is the same so the feeling for me is... it's all the same.

I didn't become happier because I've always been happy.

The wealthier I became, the less materialistic I became. It seems like a paradox, but it is what it is...

 

[SKM430]

I feel like this has a lot of truth for the people that want to be successful for the simple fact of being successful. I'm just starting on my journey to becoming financially successful, but I, as yourself, am already pretty happy with my like. (Just wish I had a porsche or a lambo in the driveway) but otherwise very content. I guess the happiness will be brought out by achieving the successes and not so much the money.

 

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