“Why Making Your First Million Is Not Enough
The problem of having too much money
Many people set a goal of becoming a millionaire by a certain age. That is a worthy goal. But, as I found out when I made my first million, it’s not enough to simply meet your goal. Because once you do finally achieve it, there are other implications that require further planning and goal setting.
In short, there are a whole host of new problems that come with having too much money. Those of you who are struggling financially might scoff at this, but I can assure you it’s true. This is not to say that the problems of the rich are more valid or important than the problems of the poor. No matter what financial state you are in, you will have problems. Progress is made by meeting the challenges of your stage of life—not by comparing yourself to others.
Have a plan to become rich… and stay rich
My rich dad told me something very wise when I was younger, ‘If you want to be rich, you must have a plan on how to make a lot of money. You must also have a plan in place for what to do with that money after you’ve made it. If you do not have a plan in place for what to do with the money you make before you make it, you will often lose it faster than you made it…’”
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