Thank you for sharing this message. I'm turning 30 this year and I got an inkling that I'm under an obsessive haze to make more money.... but something felt wrong... of course, I initially attributed to lack of money. I couldn't have seen the logical flaw without this video, and the sad reality is that some people live it throughout their life.
Your videos, and this one specifically are very to the point. I recently asked myself similar questions - why would I need more money, what do I want to achieve? etc. Truth is 4 milions or even more wouldnt change a thing (for me) once you own a house/have a family/have dream car/motorbike. Whats next when everything feel dull and grey? Whenever I think of success really "the chase is better than a catch" fits perfect.
Thank you. I’ve encouraged a lot of people working with me to leave the company and chart their own course. The people are more important to me than the position. Glad these videos are helping.
Great content. I wish I could send it 10-20 years back in time to my past self. But he wouldn't agree i guess... I keep looking forward for every new video from you, Rich! Thank you!
I get it, though, when people say they want to "rest". Many people are so burned out they need a period of complete peace, quiet, and reflection before they can truly figure out what they want to do.
@@captainreza1 Nope! Rest has gotten me places plenty of times. In fact, most of my best and life-changing decisions were made after a period of rest and reflection. Seriously. No need to thank me.
Throughout history, people have found their life work and all kinds of scientific and literary inspiration through resting, being still, and contemplating this existence. This has been my experience as well. How can you find your own small path if you’re going 100mph on someone else’s freeway? I certainly could not.
We've all heard the term "Life is a journey, not a destination.". The goal for the vast majority of us is to be free from being at the mercy of a business, bosses and their control. How on earth would we know what we would do after that when we're too busy trying to escape first? The process of finding that new purpose when we acheive freedom from control may need to start once we get there. It's part of the journey. I learned something in a painting class in college. When you don't know where to start - just start anywhere, but you have to start. Once you get moving, you'll find your direction. What we will do after we have unlimited money is not something we can answer so quickly.
I agree with the “get moving” sentiment. However, we can stop to think about our lives way before we “escape”. (Hint: we never escape). 70 good years on this planet. Should it be spent on a treadmill?
Really enjoyed the message in this video. It’s so hard to give up on the “one more year” or “one more million” carrot especially if your in a high paying tech job that’s gamified with stock grants at specific time intervals.
Appreciate your videos sir. Your insights validate some things I’ve felt for a long time. It’s important that a lot of these topics are spoken about and discussed.
I think most people (including me) are on a treadmill and more or less preordained path. You start from zero, need somewhere to live, need a job to pay for it. And you do that for so long it just becomes part of who you are. If you then make enough to be unambiguously free from that path if you choose, this is a situation most people don't have the skills, experience, knowledge, etc. to handle. I think this happens a lot with retirees. I think a lot of us are driven by fear... fear of a medical emergency wiping you out, or someone close to you getting ill, or of not being able to find good work if you try to exit to do something different, or a million other things. I like the $4m question; it brings the real issue to the fore... what do you want to do? A question that many may never have asked themselves due to being too busy attending to the treadmill they're on.
4 mill dollars and I go to Thailand for 3 months on a muay thai Visa. Then Brazil, Colombia. Boxing every day, buy nice meet and cook it in saus vide. Smoke cuban cigars. Start 2 familys. 700k is enough when invested to never work again. 4 mill is crazy
Almost a year gone unemployed, now again seems to return to a job i don't enjoy doing, no motivation there. I'm pretty confused on doing things i want, I don't know if it's laziness but in the need of money to eat tomorrow I'm always stepping back on my real desires, kinda be afraid on going for the new because it seems a lot of time without the money around. This diabolic thing we call money make lots of human beings disconnect from their real being. Regards to all 🙏
I am working because, my business is not generating enough revenue for me to live on, I barely make enough to stay afloat. So I work harder and put more money in the business, when i eventually reach a place that the business can pay for itself and support me as well,then I can quit my regular job and be happy .
@ yes, i reached that last year (working in tech). This year im building my business but doing the thing that i love :) thats my “exit” sttategy until retirement
@RichGilbert what's your views on the underlying assumption in the west that we are free but at the same time we are born into conditions that require a minimum level of resources to maintain ourselves. And if we don't have capital we have to sell our labour to survive. In away we are worse than animals in that respect because we can't just be ourselves or show our true nature without selling our labour and having to conform to a socially constructed corporate system to survive.
@@Josh-vc8lr dems da breaks, I guess. Is serfdom better? Ancient Egypt? Hunter gathering? Communist Russia? Mao? We have it pretty good even considering the tradeoffs.
@RichGilbert UBI will make everyone lazy or be a necessity in the face of AI? Alaska pays people a royalty but don't think it's enough to change incentives. Hopefully there will be a UBI once all the jobs start going from AI. Otherwise people might start trading there freedom for security to get the necessities in life, like in China how the state just makes work for the unemployed and have them polishing road barriers.
Agreed with your points sir, but what if you know why you need more money? I am in that situation with my husband and our goals are a few: to do repair work in the house, to move in a better area to a better house, to be able to get private medical insurance, to be able to pay college or university for our future kids and in the end, to be able to survive when we get to pension, to have a confortable life when we arebgoing to get old. So here it is, we want these, we work very hard, and we won't get a raise anytime soon. I'm not even sure if we will get one at all, realistically speaking. We are comfortable with our salaries, we don't have stupid expenses like subscriptions or clothes or things we don't need, we rarely do takeaways, and we are still not there. For our case, it's just about time. We have to wait for years and put as much as we can aside. We actually did this when we took a mortgage on our first house in the UK. And then all savings and everything went into it, and then we were back to square 1 and srart all over again.
There’s nothing wrong with this path. But recognize this is the path we are TOLD to take. You don’t need to own a house (often renting is cheaper, easier), Kids can finance college, etc. Everyone “needs more money”. That’s the deception. When you get more money, I guarantee you will still “need more money”. If you had £4mil, what would you do? These things would be taken care of. Would you sleep all day? Take drugs? Do pottery? Or start a non profit? Climb mountains? Or sail around the world? Or sit and watch TH-cam all day? My point is, this life is incredible in that we can literally do ANYTHING we set our minds to. Is this path your best path?
Working 2 to 3 hours a day on a corporate job is good enough to free my time to do what I want during the rest of the day. I used to do that but now I can't as I am covering for others
Timely video. Before the holidays, I told myself, I am going to use this time off to figure out what I really want to do at retirement. Now that it’s the new year, I am no further along than a couple months ago. I think I am just struggling with the “how”. Your 4 million dollar mental exercise would be a good starting point. Any other advice or tools to help?
Depends what you mean by “retirement”. Forget about regular paths. Think about the greenest pastures you can think of. Do the things that you know you’d regret not doing. Take risks. All life is risk anyway. And all the risks are mostly illusionary
Follow expectations for sure. The system is designed for that from birth. Go to school to get a job. Get a job to get money. Get money to get a house and family. Get a house and family and need more money. Save for retirement to live your “golden years” without being a burden on the society that forced you into this in the first place. Haha. Oops. Nothing wrong with that path. But is it your path? I find many people don’t do the quiet soul searching and hard work needed to find their life paths.
I am aware of a study where they changed the wording of the question and got some correlation. I haven’t read the study but I’d like to. Could you send a link? Either here or my email: RichGilbertLife@gmail.com
With a pile of money I would renovate my home in a more variety of arty options, get a greener car, be able to study day classes and go into full time research. I would also help more cats n dogs get treatments. Make effort to get the family together for group outings and make memories. 😊😊😊 🤞 🤞 🤞 also I could visit Mt Kilimanjaro and pick out tanzanite for a bracelet n necklace 😊😊😊 probably cos I don't know how to invest 😅
Paint is cheap. Get artsy today. Unfortunately, there is no such thing as a green car (electric vehicles take 100,000 miles before they are on par with ICE engine emissions because of the CO2-heavy aluminum frame manufacturing process) so a greener car is one that already exists (used hybrid is probably your best bet). You could start a non profit to help cats and dogs today (501c, I believe). Start with group video calls and then distribute travel expenses in the group. If they don’t want it, they won’t pay. Getting to Kilimanjaro is easy. $3k? Now what do you need the $4m for? You could certainly do all that now.
The 4mil dollars problem is just problem for rich people who never ever experienced being poor. If you ever experienced having nothing, being in the situation where don't know if you have enough money to buy the food for the next day you would learn that 4mil is astronomical amount, having few hundreds bucks at your disposal would feel like 4mils and that stays for ever in your mind.
I have been in the situation where I didn’t have any money. None. I’ve slept on couches, etc. you’re kinda proving my point. Make a plan to make more money or reduce expenses so you can live. Then make a plan with what you want to do and love to do. You can get a CPA, CFA, JD, etc. all make good money and are interesting. Can’t do that? Learn welding, plumbing, electrician, etc. good money in that. If you don’t make YOUR plan, you’ll be stuck doing someone ELSE’S plan. And that’s usually to work you to death and pay you as little as possible. Making your own plan in better. N’est pas? 😊 What’s YOUR plan, @diamondtulip6168?
I don’t know what i want to do. I’ve searched inside myself for decades and i don’t know what i want to dedicate myself to. I once did but i lost it. Dedicating myself to earning money by staying in the corporate rat race has harmed my health and spirit. But my parents said how are you gonna fund yourself after you get old or have an accident. I always said i am happily taking my own life if life has come to that point of no return.
The best way I’ve found to find this (and countless others in history) is to carve out time to think. Deep time. To deliberate. To be silent and get to know yourself. Do this as a habit. Daily for a while. Then start trying things that come to mind and excite you. There’s no shortcut that I know of, and that’s why many of us don’t find it.
Hello Rich! Thank you for your knowledge and wisdom that you are willing to share with us What would you suggest to start the path of choosing THE life goals you are talking about? For example - I tried to draw myself a picture of myself 30 years from now and gradually move towards it, but that doesn’t seem to work really well to motivate me. So I wondered if there are any questions or frameworks or books you could recommend on the topic Thank you again for your work and hello from Russia!
Forget 30 years. Try 30 days first. Then 30 weeks. Then 30 months. And forget time limits. They’re artificial. Think about the next checkpoint. Then the next after that. Take quiet time to really explore it. You’ll make some “wrong” turns but who cares? It’s part of the adventure.
Every single business fails eventually. 100% failure rate over a long enough time period. Is this the reason to not to start a business or never create a life goal? If that’s your goal, do it. Fail. Big deal. If it’s not your life goal, don’t do it.
@@RichGilbert I theory yes, your advice is good. In practice, so many people are risk averse and can't handle failure very well. It takes a lot of self confidence, risk tolerance and failure tolerance to start a business and succeed in it. I mean, if it was easy everyone would be doing it I guess.
I buy a lake house with a few hundred acres, but all the toys like four wheelers and jet skis, snow board in the winter and travel the world.. how can I get that?
You could be a lift operator or instructor and you have free lift tickets. Used 4 wheelers are cheap and you sell them for about the same price you bought them for. Have you found houses you want to buy? How much do they cost? I bet you haven’t looked. Look. Plan. Do it. Work towards these things. The money will come.
If I had 4 million dollars today, I would become a woodworker, being in nature all day, taking care of the environment, driving around with my car from forest to forest to check if everything is alright. Would I work in that job if I would not have these 4 million? probably no. because it is poorly paid and I would not have many luxuries aaaaand I could not say 'f*ck you employer I am leaving' if I get treated badly. Having Fuck you money is the best, because you can tell the truth about a workplace and leave whenever you want. Thats the real value imo. Do I sound reasonable?
I can’t disagree. However, you could certainly chart a path today to be a woodworker. If that’s your real goal. I question if that truly is what you want to do, or it’s a romantic ideal. Only you know that. 👍
@@RichGilbertI guess what I meant was ranger, English is not my first language. As you said try things for 6 months and if it doesn’t work out for you, try something else. But how do I figure out which things are worth it to figure out? 1. What suits my inherited character? 2. Where are my interests? But these two questions can already build up a wide span of opportunities. I think more practically: To me my surrounding is the most important. Even if a job seems boring but the team is energetic and creative, why can’t that already be enough? Or: Why should a job make us happy? Isn’t it already enough if a job doesn’t make us unhappy?
@@RichGilbert If he became a woodworker now, then he'd be forging reaching a higher level of security. Most people are seeking security first before thinking about potential options as to what we want. Hierarchy of needs. If you are arguing that people have that option now, I'd agree, but once we factor in the requirement of security - being able to afford major emerency surgery for example, we're far too fearful of not having that piece of mind covered.
5:26 i would: - put the 4 million into the MSCI World Acc (~7% p.a.) - take off only 3% annually (no sequence of returns risk) - pay someone to do all the household work - pursue my passion with much higher intensity and also travel a bit Thats it. I know money alone will not make me happy but it will free me from the things that make me unhappy. As Schopenhauer would have said: "Its a tool against misfortune".
@RichGilbert I love fighting and teaching people how to fight (MMA, Krav Maga, Kali, etc.). I already started building a serious business around that which will launch at the end of this year.
Money can bring financial security but not bring you what else you really desire... fulfillment. Providing a service to society will bring you fulfillment, as our way of life is based on division of labor... I hunt, you gather. Wanting to retire early is a good motivator to work hard NOW and take calculated risk NOW... in order to achieve financial security... but providing value to society should be an ongoing effort till old age, as your society needs you, and you need society!!
Usually this is all about the family, wife and kids. I fully understand that i personally don't need lots of money, i need a room with internet to do theoretical physics and once a week or two go hiking to the mountains. Which must be nearby. I know i would be happy this way, because that was what i did for several years before got married. But now if i give up working in half a year money will come to the end and who is going to feed my children? I can do nothing with it until the grow at least up to 17. I have to work unfortunately. So your question is easy - if you give me 4m i would give it to my wife and say that i've done what i must and now i will do what i want. In fact for 10 years for two kids in the place where i live 1m would be enough:)
4 million dollars - pay off this 349,000$ duplex that my brother and I are paying the mortgage on (he lives on one half and I the other. I’d buy 6-10 acres out where I live and a home. Not too bad in Kansas. Then spend the rest of my days studying language, music and theology. And I would likely have plenty left over for my daughter, incoming son and wife. Otherwise - I’ll be practicing industrial engineering till the day I die in the soul sucking industry that is aircraft.
Sounds sad, but I'd take that 4 mill and take some time off to see some really good doctors to address health issues that I'm not getting good answers for locally. A week's vacation and the local network docs just aren't cutting it.
@RichGilbert Perhaps. But I don't see how. A subdued brain is happier. Reading, Movies, Music etc are more fun when I'm drunk compared to sober. Or perhaps happiness being purpose is Dumb. Dunno. I haven't understood why almost everyone is living perpetually torturous lives despite having smart goals, so I somehow feel good about my probably dumb goal. We'll see. Nothing is set in stone, anyways.
@@mitesh8utube I totally get it. I drank a bunch for a while, and I gotta admit, it is fun (from what I remember). Only you can live your life, so live it exactly the way you want. In that, I commend you.
Facts I want to do the same but with cannabis in grabba leafs blunts while running side buissness. But the sad thing is that those habits can lead to health issues down the road that will only make life worse in the long run so there not sustainable. But Mabey with intense exercise routine and strict diet then we can sustain the lifestyle.
If I had 4 million dollars right now, I would buy a piece of land and build a homestead and a farm, I would learn how to solder and do electronics engineering, and learn mechanical engineering, and get a freaking fireworks license and build a freaking lab where I could manufacture my own fireworks. I would get myself a Toyota Tacoma truck and deck it out with insane, custom off road lights. I would get stem cell therapy on my brain to fix my dadgum ADHD. I would buy myself a nice guitar and learn how to play it. I would learn how to manufacture and bring back those old style carbon filament light bulbs. I would build and fly RC helicopters, I would put a firepit in my front yard for barbecue nights in the summertime. I would build a custom bathroom with with daylight color temperature lighting and an outdoor, cliffside waterfall themed shower with a custom laminar flow nozzle for the shower (I hate turbulent water coming down on my back, it feels like glass shards to me). I would go camping and hiking a lot. I would buy the highest quality possible food that doesn't have all these chemicals and poisons in them that ultra processed foods all seem to have and I would attempt to reach my genetic potential for muscle. I would get myself a top of the line compound bow and get ultra light arrows and build the fastest shooting archery setup that I could muster, and then shoot that bow, A LOT!!! Oh and I'd get myself a nice rifle or two. There are a lot of things that I would do.
Most of what you’re wishing for can be done today. A wonderful Yamaha starter guitar costs only $100. You can learn engineering today. You can start a fireworks company today. Have you looked into it? These things don’t cost much at all, and you can get investors. You can go camping tonight. Buy a used bow and used rifles. Pick a couple of these things and do them today. If you need money for one or two of them, figure out how to get that money. I’m telling ya. You can do all of this. 👍
My corporate homie spitting truths in a no-BS manner. I always appreciate your wisdom Rich!
Thanks. I appreciate you being here and the feedback.
Rich, your channel is the absolute best on TH-cam when it comes to quality advice and wisdom. Thank you
Than you so much. It’s humbling to hear this. 😊
@ many of us really appreciate you and you’ve helped me a ton in a few areas, specifically getting my career started. All the best!
Rich, you became the coach I never had but needed in my youth.
And all by TH-cam.
Great to hear
Thank you for sharing this message. I'm turning 30 this year and I got an inkling that I'm under an obsessive haze to make more money.... but something felt wrong... of course, I initially attributed to lack of money. I couldn't have seen the logical flaw without this video, and the sad reality is that some people live it throughout their life.
Yep. Many people go through life without ever thinking about it.
Your videos, and this one specifically are very to the point. I recently asked myself similar questions - why would I need more money, what do I want to achieve? etc. Truth is 4 milions or even more wouldnt change a thing (for me) once you own a house/have a family/have dream car/motorbike. Whats next when everything feel dull and grey? Whenever I think of success really "the chase is better than a catch" fits perfect.
Great to hear this resonates. I fully agree with you. Glad things are going well! 👍
4 million at 2% per year is a $10k per month perpetuity ... I'll take $10k a month forever
Quit work , live in hotels ... south east Asia
@@MrSimonw58 do that now. I’ve done it. It’s great. You can too. Really. It’s doable. Just figure out how
I wish I had a boss like you
Thank you. I’ve encouraged a lot of people working with me to leave the company and chart their own course. The people are more important to me than the position.
Glad these videos are helping.
Al I can say as a new subscriber is "thank you"!
Great content. I wish I could send it 10-20 years back in time to my past self. But he wouldn't agree i guess...
I keep looking forward for every new video from you, Rich! Thank you!
Thanks for the encouragement. Glad you like them!
Thanks for the guidance, your take is very refreshing. Please make some content for people who are dealing with a difficult “toxic” boss or workplace.
this cuts deep and I can’t deny this applies to me as well
Never too late to change things
“every thing i have done in my life, I haven’t had the money.” fuck. that’s true.
Haha. Yep. It’s been true for me. Anything substantial, anyway. Thanks for the comment!
Thank you so much for your videos, Rich. They certainly have been a mind broadening experience for me.
Do keep uploading more often.
Awesome. Thanks. I took a month break to think about what I want now that the channel is gaining traction. I’ll keep em coming!
I have so much respect for you Rich
I get it, though, when people say they want to "rest". Many people are so burned out they need a period of complete peace, quiet, and reflection before they can truly figure out what they want to do.
Nope! The rest won't get them there!
Only Unrest makes you "figure out" things. Seriously.
you are welcome :o)
@@captainreza1 Nope! Rest has gotten me places plenty of times. In fact, most of my best and life-changing decisions were made after a period of rest and reflection. Seriously. No need to thank me.
@ alright then!
Rest in Peace!
@@captainreza1 Peace out, bro.
Throughout history, people have found their life work and all kinds of scientific and literary inspiration through resting, being still, and contemplating this existence.
This has been my experience as well. How can you find your own small path if you’re going 100mph on someone else’s freeway? I certainly could not.
Awesome Rich. Thanks 👍
This really hit me it's true why are we looking for just money in life and not enjoying it
Glad to hear it! I hope it hit you gently. 😊
We've all heard the term "Life is a journey, not a destination.". The goal for the vast majority of us is to be free from being at the mercy of a business, bosses and their control. How on earth would we know what we would do after that when we're too busy trying to escape first? The process of finding that new purpose when we acheive freedom from control may need to start once we get there. It's part of the journey.
I learned something in a painting class in college. When you don't know where to start - just start anywhere, but you have to start. Once you get moving, you'll find your direction. What we will do after we have unlimited money is not something we can answer so quickly.
I agree with the “get moving” sentiment. However, we can stop to think about our lives way before we “escape”. (Hint: we never escape). 70 good years on this planet. Should it be spent on a treadmill?
Really enjoyed the message in this video. It’s so hard to give up on the “one more year” or “one more million” carrot especially if your in a high paying tech job that’s gamified with stock grants at specific time intervals.
I hear ya. Nothing wrong with one more year as long as it’s purposeful
Appreciate your videos sir. Your insights validate some things I’ve felt for a long time. It’s important that a lot of these topics are spoken about and discussed.
Awesome that it helps. Thank you!
What a great video to start the day with ! Thanks for the inspiration!
Awesome to hear! 🙏
Thank you, I needed to hear this, as I think many do.
Another banger thanks Rich
Thanks! Glad it worked for you
Thank you. I even feel more relaxed now.
Glad to hear it!
I think most people (including me) are on a treadmill and more or less preordained path. You start from zero, need somewhere to live, need a job to pay for it. And you do that for so long it just becomes part of who you are. If you then make enough to be unambiguously free from that path if you choose, this is a situation most people don't have the skills, experience, knowledge, etc. to handle. I think this happens a lot with retirees. I think a lot of us are driven by fear... fear of a medical emergency wiping you out, or someone close to you getting ill, or of not being able to find good work if you try to exit to do something different, or a million other things. I like the $4m question; it brings the real issue to the fore... what do you want to do? A question that many may never have asked themselves due to being too busy attending to the treadmill they're on.
I think you’re spot on. Moving into chasing life goals can be a gradual process to help you get used to it.
Fantastic how you have a clear view on it and can transfer it to us in the same clarity. Keep it up!
Many thanks!
One of the greatest videos I have seen in some time. Thank you! 🙏
I’m so glad it reached you. Thank you.
That’s solid advice
Rich, your videos are getting better and better. Thank you for this content!
Thank you for the kind words!
My answer was travel around the world. Not sure that's an occupation, but it's my answer. Currently an OTR truck driver tired of driving (USA).
This guy woke up and said fuck this dream that everyone is chasing 😂
I’m one of them people that been chancing that. Thanks for the video
It happened pretty early in life for me, but I didn’t realize it then.
4 mill dollars and I go to Thailand for 3 months on a muay thai Visa. Then Brazil, Colombia. Boxing every day, buy nice meet and cook it in saus vide. Smoke cuban cigars. Start 2 familys. 700k is enough when invested to never work again. 4 mill is crazy
That is waaayyyyy cheaper than 4 m. You can do that with 2-3k. Do it! The water is great! Jump on in! 😊
As a digital nomad, I would do more of what I am doing without having to work if I had $4m.
It sounds like someone has made some of his own life goals and is not living them out! Well done! 👍
Almost a year gone unemployed, now again seems to return to a job i don't enjoy doing, no motivation there.
I'm pretty confused on doing things i want, I don't know if it's laziness but in the need of money to eat tomorrow I'm always stepping back on my real desires, kinda be afraid on going for the new because it seems a lot of time without the money around. This diabolic thing we call money make lots of human beings disconnect from their real being.
Regards to all 🙏
I am working because, my business is not generating enough revenue for me to live on, I barely make enough to stay afloat. So I work harder and put more money in the business, when i eventually reach a place that the business can pay for itself and support me as well,then I can quit my regular job and be happy .
What helped me is to figure out a threshold after which i dont need more money to be happy and i cannot have less. Then i focus on what i wanna do
Have you reached that threshold?
@ yes, i reached that last year (working in tech). This year im building my business but doing the thing that i love :) thats my “exit” sttategy until retirement
Such wonderful insight. Thanks for the vid!
Nice to see that you are a KEF guy and stay modest in audiophilia :)
Haha. You got me. Lol. I’ve had a LOT of very expensive systems in my life. These sound “good enough” for wonderful enjoyment. LSX with a nice sub.
Great video Rich
Awesome. Thanks
@RichGilbert what's your views on the underlying assumption in the west that we are free but at the same time we are born into conditions that require a minimum level of resources to maintain ourselves. And if we don't have capital we have to sell our labour to survive. In away we are worse than animals in that respect because we can't just be ourselves or show our true nature without selling our labour and having to conform to a socially constructed corporate system to survive.
@@Josh-vc8lr dems da breaks, I guess. Is serfdom better? Ancient Egypt? Hunter gathering? Communist Russia? Mao? We have it pretty good even considering the tradeoffs.
@RichGilbert UBI will make everyone lazy or be a necessity in the face of AI? Alaska pays people a royalty but don't think it's enough to change incentives. Hopefully there will be a UBI once all the jobs start going from AI. Otherwise people might start trading there freedom for security to get the necessities in life, like in China how the state just makes work for the unemployed and have them polishing road barriers.
Agreed with your points sir, but what if you know why you need more money? I am in that situation with my husband and our goals are a few: to do repair work in the house, to move in a better area to a better house, to be able to get private medical insurance, to be able to pay college or university for our future kids and in the end, to be able to survive when we get to pension, to have a confortable life when we arebgoing to get old. So here it is, we want these, we work very hard, and we won't get a raise anytime soon. I'm not even sure if we will get one at all, realistically speaking. We are comfortable with our salaries, we don't have stupid expenses like subscriptions or clothes or things we don't need, we rarely do takeaways, and we are still not there. For our case, it's just about time. We have to wait for years and put as much as we can aside. We actually did this when we took a mortgage on our first house in the UK. And then all savings and everything went into it, and then we were back to square 1 and srart all over again.
There’s nothing wrong with this path. But recognize this is the path we are TOLD to take. You don’t need to own a house (often renting is cheaper, easier), Kids can finance college, etc.
Everyone “needs more money”. That’s the deception. When you get more money, I guarantee you will still “need more money”.
If you had £4mil, what would you do? These things would be taken care of. Would you sleep all day? Take drugs? Do pottery? Or start a non profit? Climb mountains? Or sail around the world?
Or sit and watch TH-cam all day?
My point is, this life is incredible in that we can literally do ANYTHING we set our minds to. Is this path your best path?
Working 2 to 3 hours a day on a corporate job is good enough to free my time to do what I want during the rest of the day. I used to do that but now I can't as I am covering for others
Timely video. Before the holidays, I told myself, I am going to use this time off to figure out what I really want to do at retirement. Now that it’s the new year, I am no further along than a couple months ago. I think I am just struggling with the “how”. Your 4 million dollar mental exercise would be a good starting point. Any other advice or tools to help?
Depends what you mean by “retirement”. Forget about regular paths. Think about the greenest pastures you can think of. Do the things that you know you’d regret not doing. Take risks. All life is risk anyway. And all the risks are mostly illusionary
Aswesome!
Excellent video. Do you think most people make deliberate conscious planning or following expectations?
Follow expectations for sure. The system is designed for that from birth. Go to school to get a job. Get a job to get money. Get money to get a house and family. Get a house and family and need more money. Save for retirement to live your “golden years” without being a burden on the society that forced you into this in the first place. Haha. Oops.
Nothing wrong with that path. But is it your path? I find many people don’t do the quiet soul searching and hard work needed to find their life paths.
How do I start a ETF? Meaning start a fund not invest in one.
Rich, have you seen the study that basically demonstrated wealth essentially was the number one predictor of happiness?
I am aware of a study where they changed the wording of the question and got some correlation. I haven’t read the study but I’d like to. Could you send a link? Either here or my email: RichGilbertLife@gmail.com
With a pile of money I would renovate my home in a more variety of arty options, get a greener car, be able to study day classes and go into full time research. I would also help more cats n dogs get treatments. Make effort to get the family together for group outings and make memories. 😊😊😊 🤞 🤞 🤞 also I could visit Mt Kilimanjaro and pick out tanzanite for a bracelet n necklace 😊😊😊 probably cos I don't know how to invest 😅
Paint is cheap. Get artsy today. Unfortunately, there is no such thing as a green car (electric vehicles take 100,000 miles before they are on par with ICE engine emissions because of the CO2-heavy aluminum frame manufacturing process) so a greener car is one that already exists (used hybrid is probably your best bet). You could start a non profit to help cats and dogs today (501c, I believe). Start with group video calls and then distribute travel expenses in the group. If they don’t want it, they won’t pay. Getting to Kilimanjaro is easy. $3k?
Now what do you need the $4m for? You could certainly do all that now.
The 4mil dollars problem is just problem for rich people who never ever experienced being poor. If you ever experienced having nothing, being in the situation where don't know if you have enough money to buy the food for the next day you would learn that 4mil is astronomical amount, having few hundreds bucks at your disposal would feel like 4mils and that stays for ever in your mind.
I have been in the situation where I didn’t have any money. None. I’ve slept on couches, etc. you’re kinda proving my point. Make a plan to make more money or reduce expenses so you can live. Then make a plan with what you want to do and love to do. You can get a CPA, CFA, JD, etc. all make good money and are interesting. Can’t do that? Learn welding, plumbing, electrician, etc. good money in that.
If you don’t make YOUR plan, you’ll be stuck doing someone ELSE’S plan. And that’s usually to work you to death and pay you as little as possible. Making your own plan in better. N’est pas? 😊
What’s YOUR plan, @diamondtulip6168?
I don’t know what i want to do. I’ve searched inside myself for decades and i don’t know what i want to dedicate myself to. I once did but i lost it. Dedicating myself to earning money by staying in the corporate rat race has harmed my health and spirit. But my parents said how are you gonna fund yourself after you get old or have an accident. I always said i am happily taking my own life if life has come to that point of no return.
The best way I’ve found to find this (and countless others in history) is to carve out time to think. Deep time. To deliberate. To be silent and get to know yourself. Do this as a habit. Daily for a while. Then start trying things that come to mind and excite you.
There’s no shortcut that I know of, and that’s why many of us don’t find it.
+1
Hello Rich! Thank you for your knowledge and wisdom that you are willing to share with us
What would you suggest to start the path of choosing THE life goals you are talking about? For example - I tried to draw myself a picture of myself 30 years from now and gradually move towards it, but that doesn’t seem to work really well to motivate me. So I wondered if there are any questions or frameworks or books you could recommend on the topic
Thank you again for your work and hello from Russia!
Forget 30 years. Try 30 days first. Then 30 weeks. Then 30 months. And forget time limits. They’re artificial. Think about the next checkpoint. Then the next after that. Take quiet time to really explore it. You’ll make some “wrong” turns but who cares? It’s part of the adventure.
@ thank you! That sounds good, will try it
Okay, I need a tool to pay my mortgage, I got it.
What's the success rate for new businesses? Seriously, how good is "start a business" as an advice, any statistics on that?
Every single business fails eventually. 100% failure rate over a long enough time period. Is this the reason to not to start a business or never create a life goal? If that’s your goal, do it. Fail. Big deal. If it’s not your life goal, don’t do it.
@@RichGilbert I theory yes, your advice is good. In practice, so many people are risk averse and can't handle failure very well. It takes a lot of self confidence, risk tolerance and failure tolerance to start a business and succeed in it. I mean, if it was easy everyone would be doing it I guess.
I would be curious about your opinion related to true friendship.
Does that exist at all?
Of course it exists
I buy a lake house with a few hundred acres, but all the toys like four wheelers and jet skis, snow board in the winter and travel the world.. how can I get that?
You could be a lift operator or instructor and you have free lift tickets. Used 4 wheelers are cheap and you sell them for about the same price you bought them for. Have you found houses you want to buy? How much do they cost? I bet you haven’t looked.
Look. Plan. Do it. Work towards these things. The money will come.
If I had 4 million dollars today, I would become a woodworker, being in nature all day, taking care of the environment, driving around with my car from forest to forest to check if everything is alright. Would I work in that job if I would not have these 4 million? probably no. because it is poorly paid and I would not have many luxuries aaaaand I could not say 'f*ck you employer I am leaving' if I get treated badly. Having Fuck you money is the best, because you can tell the truth about a workplace and leave whenever you want. Thats the real value imo. Do I sound reasonable?
I can’t disagree. However, you could certainly chart a path today to be a woodworker. If that’s your real goal. I question if that truly is what you want to do, or it’s a romantic ideal. Only you know that. 👍
@@RichGilbertI guess what I meant was ranger, English is not my first language.
As you said try things for 6 months and if it doesn’t work out for you, try something else. But how do I figure out which things are worth it to figure out? 1. What suits my inherited character? 2. Where are my interests?
But these two questions can already build up a wide span of opportunities.
I think more practically:
To me my surrounding is the most important. Even if a job seems boring but the team is energetic and creative, why can’t that already be enough? Or: Why should a job make us happy? Isn’t it already enough if a job doesn’t make us unhappy?
@@RichGilbert If he became a woodworker now, then he'd be forging reaching a higher level of security. Most people are seeking security first before thinking about potential options as to what we want. Hierarchy of needs. If you are arguing that people have that option now, I'd agree, but once we factor in the requirement of security - being able to afford major emerency surgery for example, we're far too fearful of not having that piece of mind covered.
5:26 i would:
- put the 4 million into the MSCI World Acc (~7% p.a.)
- take off only 3% annually
(no sequence of returns risk)
- pay someone to do all the household work
- pursue my passion with much higher intensity and also travel a bit
Thats it.
I know money alone will not make me happy but it will free me from the things that make me unhappy. As Schopenhauer would have said: "Its a tool against misfortune".
What is your passion? I’m not hearing that here. 😊
@RichGilbert I love fighting and teaching people how to fight (MMA, Krav Maga, Kali, etc.). I already started building a serious business around that which will launch at the end of this year.
@@wiezumteufel9024 that pursuit sounds great. The $rm isn’t so necessary. That’s kinda the point. Awesome that’s you’re doing it.
(Buy a roomba)
Money can bring financial security but not bring you what else you really desire... fulfillment.
Providing a service to society will bring you fulfillment, as our way of life is based on division of labor... I hunt, you gather.
Wanting to retire early is a good motivator to work hard NOW and take calculated risk NOW... in order to achieve financial security... but providing value to society should be an ongoing effort till old age, as your society needs you, and you need society!!
I don’t know anyone who has worked hard to retire early and then stayed retired. By that time they are so used to the treadmill it’s hard to get off
Usually this is all about the family, wife and kids. I fully understand that i personally don't need lots of money, i need a room with internet to do theoretical physics and once a week or two go hiking to the mountains. Which must be nearby.
I know i would be happy this way, because that was what i did for several years before got married.
But now if i give up working in half a year money will come to the end and who is going to feed my children? I can do nothing with it until the grow at least up to 17. I have to work unfortunately.
So your question is easy - if you give me 4m i would give it to my wife and say that i've done what i must and now i will do what i want. In fact for 10 years for two kids in the place where i live 1m would be enough:)
4 million dollars - pay off this 349,000$ duplex that my brother and I are paying the mortgage on (he lives on one half and I the other. I’d buy 6-10 acres out where I live and a home. Not too bad in Kansas. Then spend the rest of my days studying language, music and theology. And I would likely have plenty left over for my daughter, incoming son and wife. Otherwise - I’ll be practicing industrial engineering till the day I die in the soul sucking industry that is aircraft.
Invest 4 million? Forget it. Mike Judge had it right.
2 chicks at the same time! 😂
Ive tried that. It’s overrated in my opinion.
Sounds sad, but I'd take that 4 mill and take some time off to see some really good doctors to address health issues that I'm not getting good answers for locally. A week's vacation and the local network docs just aren't cutting it.
My goal is to remain perpetually drunk. I need money to do that in healthiest way possible.
lol. That’s a dumb life goal. Just sayin’. 😂
@RichGilbert Perhaps. But I don't see how. A subdued brain is happier. Reading, Movies, Music etc are more fun when I'm drunk compared to sober. Or perhaps happiness being purpose is Dumb. Dunno. I haven't understood why almost everyone is living perpetually torturous lives despite having smart goals, so I somehow feel good about my probably dumb goal. We'll see. Nothing is set in stone, anyways.
@@mitesh8utube I totally get it. I drank a bunch for a while, and I gotta admit, it is fun (from what I remember). Only you can live your life, so live it exactly the way you want. In that, I commend you.
@@mitesh8utubemeditate and exercise a lot then you can subdue your brain while remaining healthy, it will certainly wlbe way more beneficial
Facts I want to do the same but with cannabis in grabba leafs blunts while running side buissness. But the sad thing is that those habits can lead to health issues down the road that will only make life worse in the long run so there not sustainable.
But Mabey with intense exercise routine and strict diet then we can sustain the lifestyle.
If I had 4 million dollars right now, I would buy a piece of land and build a homestead and a farm, I would learn how to solder and do electronics engineering, and learn mechanical engineering, and get a freaking fireworks license and build a freaking lab where I could manufacture my own fireworks. I would get myself a Toyota Tacoma truck and deck it out with insane, custom off road lights. I would get stem cell therapy on my brain to fix my dadgum ADHD. I would buy myself a nice guitar and learn how to play it. I would learn how to manufacture and bring back those old style carbon filament light bulbs. I would build and fly RC helicopters, I would put a firepit in my front yard for barbecue nights in the summertime. I would build a custom bathroom with with daylight color temperature lighting and an outdoor, cliffside waterfall themed shower with a custom laminar flow nozzle for the shower (I hate turbulent water coming down on my back, it feels like glass shards to me). I would go camping and hiking a lot. I would buy the highest quality possible food that doesn't have all these chemicals and poisons in them that ultra processed foods all seem to have and I would attempt to reach my genetic potential for muscle. I would get myself a top of the line compound bow and get ultra light arrows and build the fastest shooting archery setup that I could muster, and then shoot that bow, A LOT!!! Oh and I'd get myself a nice rifle or two. There are a lot of things that I would do.
Most of what you’re wishing for can be done today. A wonderful Yamaha starter guitar costs only $100. You can learn engineering today. You can start a fireworks company today. Have you looked into it? These things don’t cost much at all, and you can get investors. You can go camping tonight. Buy a used bow and used rifles.
Pick a couple of these things and do them today. If you need money for one or two of them, figure out how to get that money.
I’m telling ya. You can do all of this. 👍
Life sucks and then you die. I can’t make money so I suffer.
Raman noodles rest of life with 4 million $$$ 😂😂
Ramen noodles in Japan are legit! I should specify “cup o noodles” for our international friends.