Is $400k a year not enough money?
Grant Cardone made this claim recently. He has some good points.
https://gctv.com/400k-year-not-enough/
1. According to the IRS, 400k+ would put your household in the top 1.8% of the US
https://alexaanswers.amazon.com/question/6Rq0Qx1yEtTAUM7cYoAJuH
2. US median household is closer to 70k
3. It depends where you live
400k in Miami or NY is much different than 400k in the Midwest.
4. Comfort
We often set lower expectations for ourselves.
5. Working Smarter, not harder
Yes, it might be harder to get a job or start a business that makes 400k a year, but the richest friend I know works less than all the rest of us. And from my own experience, I've often worked harder and longer hours and not necessarily made more money. The right industry, business, investment will help a ton.
6. Aim high
That is Grant's point. Why not shoot higher. If you want to make $1 million a year and you fall a little short, it's not that bad. If you want to have the #1 business in your market and you end up #2, you will still likely be very successful.
7. Be an owner/investor/executive
Most who make over 400k a year are in this category. You want to own the upside.
8. What do you want?
Personally, I want more free time. I'd take that over more money, at this point in my life. Everyone is different.
9. Inflation
Money is worth less every year thanks to the Ponzi scheme governments run.
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