What’s the difference between a $10m, $100m, and $1b lifestyle? Asked this question in Hampton's Slack community since we have people worth $10m - $2b. A few takeaways from the 50+ replies: $50k – $100k liquid • The first “I feel rich” for many in 20s. • Bills stop
Obligatory plug: If you're a founder w/ at least $3m in rev, live in a city where Hampton has a chapter, and dig talking business and money and stuff like that, then check us out. Our cities: Dallas Miami New York Boston Toronto Vancouver Atlanta San Francisco Austin Chicago
@thesamparr I think after you $50M it's not about money anymore but something deeper. I can probably exit rn and be in the 4th or 5th bracket but I don't want to. The main reason is I want to have a legacy. I know it will not be easy to get another startup to work and I don't want be a guy
@yasser_elsaid_ I agree 100%
@thesamparr A useful way to make this tangible is to show a conservative 5% annual return on that net worth as cash flow coming in to either spend or compound. $1M: $50k annual $10M liquid: $500k annual $20M–$25M liquid: $1m - $1.25m $50M liquid: $2.5m $100M: $5m
@DenisPitcher I think 3% is far better. 4-5% run out.
@thesamparr Need to wait until $10M to make differences in life??? LOL
@WhartonMba2021 No, you don't need to wait until $10m to make a difference.
@thesamparr I know lots of people who have way less than 10mm and have second homes at 50mm this seems extreme…
@kdan1186 it can happen!
@thesamparr Your show is called My First Million, but all we see is Billionaires talking about billionaire problems. Time to get the show back to its roots.
@rektshrimp Most of the categories here are not people will a billion.
@thesamparr This is misleading … more money helps but doesn’t equate to more happiness .. wisdom and maturity .. expectations, relationships play major roles .. as well in having peace of mind or contentment …
@q6zynjvcvr Studies have shown that more money actually does make you happier.
@thesamparr Every single one of these "poll surveys" I've seen about wealthy individuals is the definition of selection bias.
@MattEBoardman This isn't a poll survey.
@thesamparr No mention of charity or community work wow I am very surprised
@Johnny2Fingersz tons of people mentioned this. i didn't realize i forgot to add that until now.
@thesamparr in what world does someone need 20M for a nanny and cleaners
@selfDM You don't need anything.
@thesamparr It may be the most important thing to you - money that is - but not to all - not sure what the goal is off this? Being snobby? Being elitist? What your true desire in telling us this? These people may lack a lot more from life by simply focusing on their self wealth
@Kipplykins For inspiration and education. I read stuff like this when i was broke and it helped me. i read this stuff now that i'm not broke and it still helps me.
@thesamparr I know you made $20m while ago. I don’t know what that number is now for you but did it really change how you look at or use money from 20 millions to now?
@Amit_G_Patel i'm for sure into legacy, which i didn't give a shit about before
@thesamparr How many earned their way there vs trust funded it?
@KevinPOBrien we only let in people who founded their own business.
