I just saw an ad stating that Millionaires do not use to-do lists, they time block. Why is it that the term “Millionaire” is used as a sign of credential? And, why is it that they still use the same technique that I – someone Identified as an aspiring millionaire – a broke entrepreneur should also use? What is a Millionaire and why should I want to be one?
Well, let me tell you why I don’t want to be a millionaire. I don’t want to be a millionaire for the same reason I first decided I wanted to be one. That reason is Freedom. That’s why the term is used as a declaration of nobility, those that are not yet millionaire’s believe the title will grant them freedom. The truth is… A million bucks just ain’t what it used to be. The guys that get software jobs, max out every inch of benefits, live poor, and accomplish F.I.R.E seem to regret the experience. At least, the ones that really geeked out and published how-to’s on blogs and hosted podcasts. They seem to regret the life they missed out on. These guys were obsessed with the 4% rule which says, the market yields on average 8% yields. If you make a deduction each year of 4% the principle, your money will continue to grow modestly while you live on a fixed income. To figure out how much you need to retire, simply take the amount you want to live on per year and divide it by .04. As an example, if you can live on $80,000 per year, divide that by .04 and you will discover that you can retire with $2,000,000.
We know intuitively that in this society, a $2Millionaire would not feel like freedom. Knowing its your retirement, it could feel like freedom from a job if you did stick to living within your means. But, we are Americans. We have inflation $80,000/year is not what it used to be.
I don’t want to be a millionaire. I want to be a Billionaire. And the reason I want to be a Billionaire is because:
If I can make $1B it will mean that I have solved the income gap in America. At which point, my solution – assuming I steadied my course and did not have to pivot due to unforeseen circumstances – would allow for a world where freedom could be obtained by those that understand the ideals of social good. In other words, you wouldn’t need to be a billionaire to enjoy the pleasures that Humanity has created.