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Updated about 5 years ago on . Most recent reply
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How hard would you be willing to work for a million dollars?
When I was a kid, I would look at the cars as they would drive down the road. All of the cool cars I would either think to myself or ever say aloud to myself, "That's my car." And when I was asked how much money I wanted to have when I grew up I would say, "I want to be a millionaire."
As an adult, my taste in car ownership has changed. Rather than wanting to own expensive, exotic cars, I am really content with owning a 2013 Toyota Prius that I love. But that desire to be a millionaire didn't change.
So this post is for everyone who has ever wanted to be a millionaire when they grew up.
How hard would you be willing to work for a million dollars? Would you be willing to run a financial marathon for 5 years? Would you be willing to wake up at 5 am and work all day until 10 pm for 5 years if it meant at the end of the 5 years you were able to walk away with a million dollars?
What would you be willing to do or how hard would you be willing to work?
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Working hard is important, noble, and virtuous. Just be mindful of what you trade off by working singularly to amass what amounts to an investment in your future self at the expense of your current self. What is your family trading off in the process? What are your friends trading off in the process? Are they on board? Have they spoken to you about needing you and you're not around?
Who is in control? Is it the voices in your head wanting to show everyone how awesome or different you are or are you working for a better life later mindful of the tradeoffs such that the processes you set up are sustainable long-term? Too many people in the industry fail to account for their time properly and what should be imputed in their returns and thus tell everyone about some make-believe eye-popping returns that have little bearing in reality.
Building wealth is a long-term greedy endeavor and those who have been around the block will tell you that death, divorce, harsh recessions, random life events and all manner of things can derail your success and you have little or no control over many of these things. It's fine to want to do well and achieve, but make sure you set yourself up to be happy in the present as well while you fall in love with the process instead of ascribing too much value to your attachment to the results.