Yeah it’s always some shit like that. Start playing with numbers in the millions and it becomes real easy to turn that into extra money just by parking it in the right place.
There’s a reason self-made millionaires all agree that the first million is the hardest. Making money is much easier when you’re living on interest and dividends from your existing cash. At a certain point, things reach a critical mass and you begin growing wealth without even trying, simply because interest, stocks, dividends, etc are growing faster than you can reasonably spend it.
Yeah it’s always some shit like that. Start playing with numbers in the millions and it becomes real easy to turn that into extra money just by parking it in the right place.
Being rich sounds easy as fuck.
Being rich is a lot easier than getting rich.
Unless you’re born into it.
There’s a reason self-made millionaires all agree that the first million is the hardest. Making money is much easier when you’re living on interest and dividends from your existing cash. At a certain point, things reach a critical mass and you begin growing wealth without even trying, simply because interest, stocks, dividends, etc are growing faster than you can reasonably spend it.
When you’ve got $1k in the bank, and you need 100% of that to live, you can’t really save.
When you’ve got 1 million in a proper savings account, you’re getting enough a year to technically live off of through just interest.
Properly invest that 1 million and you can comfortably live off the interest alone, and even compound that interest.
I think it is once you’re there, assuming that you’re not the “working wealthy”. At that point, you just have to not screw up in a big way.