I just got into a very interesting conversation with one of my co-workers. We got to talking about millionaires and greed. Then he asked me:
"How much money would it take you to quit your job and not work for the rest of your life without being greedy?"
I originally replied to him without taking much thought to it "About 100 million" and explained to him that was because I wanted to help the people I love and travel around the world, have a nice house, etc.
He then told me that I was being greedy and that he only needs 5 million. So we broke it down to specifics and he convinced me I would probably be set for life with 20 million if I wasn't allowed to invest it. This much would allow me to live the life I want, but any more than that would be considered greed.
Of course you can all say I'm greedy for even wanting that, but everyone has their own opinions on what the definition of greed it. So let's please not turn this into a debate on where the line is
So the question comes down to: How much is enough for YOU to live the life you want without getting greedy?
Make a long term goal to hit this number everyone! You may not all hit it, but I know you will get close if you put the effort into it. And by the time that happens, your number might even be lower than where it is now since you'll be older.
Dominic
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This is something I've never really thought about. It prompts me to think about setting goals that have $ values attached...
- Make $20,000 profit in the first 6 months, etc.
Thanks, Nadine
** Realtor/Investor in Lancaster County, PA
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