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What's your number formula from TMF book?

What's your money system target?

  • $500,000 - $1M

    Votes: 3 3.3%
  • $1.1M - $2M

    Votes: 2 2.2%
  • $2.1M - $3M

    Votes: 6 6.5%
  • $3.1M > $4M

    Votes: 7 7.6%
  • $4.1M > $5M

    Votes: 4 4.3%
  • $5.1M > $7M

    Votes: 9 9.8%
  • $7.1M > $10M

    Votes: 8 8.7%
  • $10.1M > $15M

    Votes: 24 26.1%
  • $15.1M > $25M

    Votes: 8 8.7%
  • > $25M

    Votes: 21 22.8%

  • Total voters
    92

JustinBoshans

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Hey everybody, I've been grinding hard for the new year and after reading TMF I set my number that I need to make at $10 million. I know there was a formula in the book for what your number should be. I lent the book to my brother and was wondering if any of you guys have the formula offhand so I could use it.
 

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MJ DeMarco

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I added a poll to this, curious to see what people ideally have set as their money system target.
 

jesseissorude

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just over $11 mil

I cast my vote and saw that the only votes were all in the same choice, ha!

I'm sure there will be some cowboys who skew the graph to >$25mm. I'm shooting for more always, but when I did the formulas, $11mm was what I got.

Here's to more, boys!
 

Hooked

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Just over $15mm. I like big boats, fancy cars, private planes and vacation homes.
 

MJ DeMarco

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Just over $15mm. I like big boats, fancy cars, private planes and vacation homes.
Ha, you'll need more than that. A lot more.
 

DeletedUser394

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Poll not accurate. There's no 1 billion dollars. :p

I already hit my first number which was just under one million. Goal now is to grow it.

I don't really have an end goal, but I like the $5M-$7M range. $250k/yr residual income is more than decent and respectable.
 

biophase

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What would be cool is if we could add another variable for the voter's age.
 

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Ninjakid

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Seeing the number that I got made me think, "gee, I should be doing more with my life right now".

-slightly intoxicated Ninjakid
 

Flora

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I thought a lot about that number and what I currently live on. Considering that I want to care for my parents as they get older and neither of them have a retirement and I don't want them to have to depend on the BS healthcare system & medicare. Plus I want my daughter to have every opportunity to grow her own businesses. I put my number at about 14.7 million.
 

MJ DeMarco

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MJ DeMarco

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JasonR

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$10m-15m total.

I've seen and met a lot of people without around that net worth. Pretty much in control of their life - yet own their freedom.

I'd much rather have that sort of life, then slaving away my best years to add more millions in the bank.

For me, life is more about freedom and experience over money.

But at $10m-15m you can afford some nice things, too.
 

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TTG SS

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$2.5M house
$2.3M in Cars
$50k in toys(jetskis, ATV's,etc)
$7-10M cash invested to bring an income to live off of. I don't need to live an extremely extravagant lifestyle. Just like nice cars, and nice home. I will live a pretty modest lifestyle after that and do some traveling several times per year.

So probably $15M net worth. Accurate?

Goal is everything paid in cash.
 

biophase

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as a single person:

3 properties - $3 mil
3 businesses - $3 mil
2 cars - $200K
misc - $200K

$6.4 million total

am I missing anything?
That "number" is not supposed to be your net worth in stuff. It is suppose to signify what you need to generate the passive income that you want to live your lifestyle.

So $6.4m at 5% is $320k a year to live your lifestyle. It does not mean you own $6.4M in stuff.
 

Astral Explorer

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Jun 28, 2013
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Between 1.6-2.6 million...

Hard to think about things I genuinely want, majority of the money is to give to family and let them go on vacations. I'd personally just keep living how I currently live just the added option of living in a different city. (It's no wonder I have a hard time finding a "why")
 

Pete799p

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Decent Truck- 10k-15k
Decent House- 150k-250k
Plenty of outdoor gear-Not as much as a boat
Freedom- Priceless

My vote $500k-$1mil (liquid not total asset value)

Long term target is $10mil but at the end of the day I love being outside more then anything else. As much as I love the helicopter a split board with some skins is enough to put a smile on my face.

As much as I like shinny things the older I get the less important they are. Having been in and driven high end cars, high end houses, high end hotels, the country club, the fancy 20 course meals, the watches and clothes, and the nice vacation home, I find I really just don't care.

On a day to day basis a Maserati really doesn't drive much different then a BMW. I have lived in regular size houses where I had rooms I never went into and bathrooms where the water would evaporate from the toilet because I never used it. I want to spend as little time at home as possible anyways. The high end hotels never really made a difference as when I travel I'm not there for the hotel. Country clubs are probably one of the few luxuries I can say are worth it if you are a big golfer and can benefit your business but I'm not that big of a golfer these days. Not a fan of paying $1000 for a dinner that ends up leaving me hungry. Best meals have always been a big bowl of homemade whatever with my friends and family, eat your heart out there will still be plenty of leftovers. I would rather live in the vacation home all the time and leave the other 50 weeks of work to pay for it to somebody else. That nice watch, most people wont notice it and wont even know what it is. I once had a conversation with somebody who was telling me how I should trade in my "old" wind up watch for his citizen eco drive because it wound itself, he's never herd of Panerai.
 
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Luffy

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Enough to live off the rest of my life but I'll always seek ways to grow it, for now let me hit that 1 million mark.
 

DKNJ

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I'm aiming for $10mm. In TMF, MJ mentions putting $10mm into dividend stocks and collecting a monthly passive income just north of $40k. That sounds pretty good to me lol. Knowing me, if I hit $10mm, I will want to raise the bar. I would also like to diversify with a little real estate, residential (my home and family's home) and commercial (that my businesses were operating out of). I don't think I would enjoy just renting out and being the landlord. Any left over money to play with, would maybe go to angel investing.
 

Bekit

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Worth a bump.

The poll in this thread was super instructive to me. I would have put my number at around $2M, but just seeing the poll results opened my eyes to how much bigger I could (and should) think.

I could put all my work, hustle, effort, and thought into creating $2M for myself. But it might take only marginally more of my effort to create a $15M or $20M business - and the rewards would be much greater.

And just by thinking bigger, I'm going to land in a better place, because I'm going to look for ways to build systems, scale faster, be more efficient, and delegate.

Given my remaining years on earth and the same exact 24-hour days that everyone else has, if I have the choice to build a $2M business or a $20M one, why would I ever pick the $2M one?

(By the way, for anyone else reading this for the first time, don't miss the link that was posted on the second post of this thread. That spreadsheet is gold! Here it is again:)

 
Last edited:

Tourmaline

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Why not a $100M one? A $1B one?

Now why one and not three? Or ten?
 

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