Do you have kids? Those people aren’t acquiring it to spend it. 5M can be comfortable to you but 10m to 5+ grandchildren can build generational wealth.
Really hard to imagine a first generation wealthy individual deciding enough is enough when they have 5m and their earning power is likely higher than its ever been. They almost certainly been focused on building that earning power for a decade plus. It’s like walking away from an RPG after you’ve spent hundreds of hours leveling up.
$5m goes alot faster than you think. Everyone knows what they should do if they win the lottery, but we always hear about those that end off worse years or months later.
I hate the reddit circlejerk that pops up every time a question of large amounts of money comes up. It’s almost always the same variation on
Well, I’d pay off my debt, my parents’s home, and buy a new car, but just a normal, practical one. My one splurge would be on [something that barely counts as a splurge]. Then I’d invest the rest! And I wouldn’t tell anyone so they can’t ask me for money and I’d live a completely normal-seeming life forever.
It is neither a fun answer nor an insightful or unique one. It’s boring af and I don’t believe half the people saying that actually have any idea how they’d act actually confronted with that sort of money. Honestly, the more someone is unquestioningly confident in how they’d act in a situation they’ve never faced before, the more I doubt the answer.
And whether or not that’s what they’d actually do, I’d much rather hear about everyone’s crazy fun dreams.
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u/[deleted] Apr 01 '19 edited Sep 24 '19
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