If you ask most people “What would you do with a million dollars?”, they would give answers like:
- Buy my dream car
- Buy my dream boat
- Buy my dream house
- Go on my dream vacation
- All of the above
This list of answers is, of course, why these folks don’t already have a million dollars. They are too focused on pleasures and not things that really matter long term. Sigh.
Anyone who already has money would give you pretty much one answer to the million dollar question… they would save/invest the money and let it grow. They would tell you once invested, they could (if they wanted to) spend roughly $40,000 per year of this money without it ever depleting (the 4% rule).
Necessities, Not Things
Let’s get back to the main point of my post today. The biggest benefit of wealth…