its a pretty stupid question but how? I live in a super toxic household and i wan’t to get away from these people. I don’t know much about finances and i would love some book recommendations and so.
its a pretty stupid question but how? I live in a super toxic household and i wan’t to get away from these people. I don’t know much about finances and i would love some book recommendations and so.
I wish this sentiment was more prevalent on this sub. If aim for billions, you’re going to come away very disappointment. Even a million/year has a 1% chance of success for the vast majority of people. Focus on what financial independence means for you, in your immediate world, and then grow from there.
One percent for a million a year is generous by a whole order of magnitude.
Absolutely agree, but I feel it’s easier for the average person to think of 100 people in a room and accept that, at best, only one of them has a chance of earning over a million a year, puts goals in contrast. By comparison, earning $100k a year is orders of magnitude more likely.
I disagree with you. Having a strong belief that you can make it goes a very long way. Mindset is everything. Focus on you and forget about everyone else.
Out of curiosity, how old are you? I’m mid 30s and I tend to get that reply from people younger than me. Mindset is important but it doesn’t overcome a lot of barriers.
$1m/year is about $83k/month, or about $350/hour (Assuming you work every day of the year). Let’s stop there for a second. To earn a million per year, you’d need to earn $30k more, per month, than the average Canadian (My current home country) per year. Your easily in the top 5% of earners, and likely the top 1% if you remove ultra high network. It’s rare.
To abstract, I know a handful of lawyers that would bring in a million per, and they are all partners. So they have extensive schooling, which in most countries means debt. The ability to even qualify for that debt would block a huge swathe of people in certain regions. Assuming you did get the loan (Or even better, your parents footed the bill which puts you in another bracket entirely), you then have to have the mindset to become a lawyer and the personality to become a partner to reach a million. Most people with a solid mindset can become lawyers, but not all lawyers have the ability to become partners. However, even an average lawyer could, with a good mindset, reach the $250k/year region.
In my own realm, tech, I can comfortably earn $100k/year from any of SaaS applications, and do. It’s $8k/month/app. Easily doable by pretty much anyone. But scaling that to a million is an extremely different prospect, regardless of my mindset. It’s not just about adding clients, there a myriad of factors that start to apply. It’s non-linear.
Which is basically the core of my point, the further you move up the scale, the less likely it is to happen regardless of how much you want, wish, grind or meditate on it. It’s essential probability, you need so much to go right, that your chances are already extremely low. So, to me, it’s better to set your sights on achievable goals, achieve them, then calculate your next move. Too many people fail, in my experience, because they set out to win a marathon (Million/year+), rather than get comfortable at 5km first.
This guy knows
Love ur response