How much money do you need until it's enough?
I ask this a lot on Moneywise and the answers are always interesting:
- Bryan Johnson: $7M was his baseline number. Simple math: 7% interest vs inflation in rural Utah. Enough to "buy myself free time" with basics covered.
- Vinay (Co-Founder of Loom): "$10M was my cliff for f*** you money" but looking back "it's probably too high... could be even lower"
- Another founder: Original target was $20M, now keeps $10-30M liquidity as their "fortress of solitude" baseline
- Tech founder couple: $5M using the 4% rule = $200K/year passive income. "Always found that $200K is plenty to have a really nice life" especially with house paid off
The producer of Moneywise (Jackie) spoke to like 60-70 millionaires / billionaires and did an episode on whether money can actually make you happy
her take on this is so awesome - money isn’t additive (i.e. doesn’t add happiness), it just subtracts the stuff that stops you being happy
Give it a watch and let me know what you think!
@elonmusk He forgot to mention while fire department’s budge was cut, police department’s budget saw a significant increase.
Why the police has not been able to stop the crime with significantly more budget?
Looks like a staged recording. He’s reading from a script.
Lots of voters went for Trump because their number one issue was high prices. Do they think Trump's GOP is going to enact price controls over corporations? Not a chance. These voters blamed the Biden Administration. Last I heard, it was private enterprise that rented apartments, sold food in supermarkets, billed for high medical costs, charged outrageous interest on consumer debt, sold cars, gasoline and very pricey auto insurance.
Voters, you should refocus directly on those sellers who overcharge you. -R
The best thing to do for your kids is have them buy their own cars.
When you buy new cars for teenagers, you're setting them up for a life of ridiculous expectations. Think about their future.
If you have enough cash set aside, you and your child could agree on a matching plan to help buy the car. Whatever your child saves, you'll match. That's what Sharon and I did with our kids.
.@bridgeprojectny has a cash transfer program in #ROC for first-time moms. Cannot wait to see the results, which will build the case for policy change. https://t.co/a0AlZFuCIa
.@bridgeprojectny has a cash transfer program in #ROC for first-time moms. Cannot wait to see the results, which will build the case for policy change. https://t.co/a0AlZFuCIa
Stop comparing your budget-friendly, debt-free, intentional lifestyle to people who just use a lot of debt. Because they're going to look like they're doing much better than they actually are.
Every time a US company raises its streaming prices on me, I cancel and resubscribe from Bangladesh.
Today it's Spotify's turn; they used to get $12.99 a month from me, but will be getting ~$2.40 a month going forward.
On July 14th, 1933, the United States officially abandoned the gold standard. The decision was made as part of the New Deal policies during the Great Depression, allowing the government to print more money to stimulate the economy.
@manishsinhaha Great to see you publicly post this. Making your project public makes you even more invincible as defeat becomes no longer an option. Success is paramount. Failure is never an option.