Sterling Terrell

smart ideas from books (mostly)

  • Home
  • About
    • My CV
    • Books
    • Series
  • Newsletter
  • Advertising
  • Tools

How Long Does It Take To Get Rich?

How Long Does It Take To Get Rich?

“How long does it take to get rich” is greatly determined by how you define “rich.”

Right?

If you want a billion dollars, it’s going to take you (theoretically) longer than someone who is looking for 80 grand in passive income.

Everyone wants to talk about earnings, but the side of the coin I see most struggle with is spending…

Took me 12 years of working and saving like a maniac to feel like I had a reasonable amount of money.

My advice is the same as so many others: If you get anything, get equity.

You can see how long it took Warren Buffet, after the jump.

It had taken Musk less than a decade to go from being a Canadian backpacker to becoming a multimillionaire at the age of twenty-seven. With his $ 22 million, he moved from sharing an apartment with three roommates to buying an 1,800-square-foot condo and renovating it. He also bought a $ 1 million McLaren F1 sports car and a small prop plane and learned to fly.

-Ashley Vance, Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future (Amazon)

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)

Filed Under: PotpourriTagged With: #Money, #Planning

How Managing Money And Tending Plants Are The Same Thing

How Managing Money And Tending Plants Are The Same Thing

Did you know managing money and tending plants are the same thing?

People think they are different. But this is entirely not true.

Let me explain.

When faced with financial difficulty, shortfalls in budgets, the emotions of investing and trading, and handling finances better in general – most people have one simple solution.

They need more money.

But here’s the thing.

More money is never going to help you.

The bad budgeting, poor decisions, and emotional spending someone does with $60,000 will also be done with $600,000 – or $6,000,000.

There are only more zeros involved.

I mean, the root cause of being “bad” with money has not been addressed.

But somehow, people fall for this line of thinking every single day.

Yet – yet – nobody thinks this way when it comes to tending plants, do they?

Say you had the opposite of a “green thumb.”

You struggled to take care of plants – struggled to keep them alive.

I would never tell you that the solution to it was to…acquire more plants.

That would be crazy.

People think like this when it comes to money though, don’t they?

It’s insane.

I’ll leave it with a final example.

I worked at a cotton gin once upon a time that fell prey to a different version of this.

Their answer was always that, to turn the company around, we needed more bales of cotton.

We need more volume.

I always wanted to know what it would take (cost and structure) to operate a profitable cotton gin on the number of bales we did have.

They were always wishing for something they didn't have, instead of dealing with what was right in front of them.

Wishing for more money as an individual – and wishing for more volume (sales) as a business in one and the same.

It’s shifting blame to what you have little control over, instead of operating efficiently that which you have complete control.

It’s sucking at gardening and thinking more plants are the cure.

It’s childish thinking.

Did I say it was stupid too?

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)

Filed Under: Not BooksTagged With: #Investing, #Money

  • 1
  • 2
  • 3
  • …
  • 19
  • Next Page »

Subscribe to Blog via Email

Notifications of all new posts by email.

Connect

  • Facebook
  • LinkedIn
  • Pinterest
  • Twitter

Search

Top Posts

  • The Tricky Lily Pad Riddle (You Probably Can't Solve)
    The Tricky Lily Pad Riddle (You Probably Can't Solve)
  • Another Great Riddle For You To Try
    Another Great Riddle For You To Try
  • 5 Things I Learned Reading: Night, By: Elie Wiesel
    5 Things I Learned Reading: Night, By: Elie Wiesel
  • Can You Solve The Bat And Ball Riddle?
    Can You Solve The Bat And Ball Riddle?
  • Mastermind, By: Maria Konnikova
    Mastermind, By: Maria Konnikova
  • Instabooks 169
    Instabooks 169
  • Our Mercenary Heart
    Our Mercenary Heart
  • Random Thoughts – 393
    Random Thoughts – 393
  • My Notes On, In My Father’s House, By: Corrie Ten Boom
    My Notes On, In My Father’s House, By: Corrie Ten Boom
  • 5 Things I Learned Reading: The Gutsy Girl, By: Caroline Paul
    5 Things I Learned Reading: The Gutsy Girl, By: Caroline Paul

Supporting = Loving

Buy Me a Coffee

Recent Posts

  • Dislike Of Work
  • Better Than Being A Droid
  • Random Thoughts – 393
  • Gets To The Bottom Of Things
  • Where I Sit 30

Copyright © 2023 · Generate Pro On Genesis Framework · WordPress · Log in