How to Know What Number to Stop at in the Wealth Building Game

What is your wealth target, and why is this your wealth target? A lot people are chasing money, but with no clear vision or end in mind.

Real Quick: Conduct This 5-Question Audit

1. What is your motivation to earn money?

2. Why do you wake up every day to earn another dollar?

3. What number are you working towards (do you even know)?

4. If you do know, what feeling are you expecting to receive from reaching this number (is it security, stability, freedom, fewer financial fears, etc.)?

5. Is the number you're working towards today not enough, enough, or more than enough?

What Is Enough? Your Second Audit

"We surveyed 1,000 "rich" people in the US - those who make at least $175,000 a year, roughly the amount required to crack the top 10% of tax filers - and a significant portion feel like they don't have enough" (Bloomberg, 2023).

What is enough? And how should you define it?

It all comes down to what your goals are between now and the length of time you expect to remain on earth.

There are questions you need to consider, such as:

What kind of elderly experience do you want to have (whether that means living with family, a nursing home, senior living experience, etc.)? And before this happens, how do you want to live (e.g., apartment, condo, home, abroad, etc.)?

What kind of healthcare access do you prefer in your later years?

Do you want to have to work until you die, or do you plan to continue working?

Do you want to focus on work that might pay less, but is significantly more enjoyable? And do you want to do that work now or in your later years?

Do you have charitable goals?

Are there experiences you want to indulge in, in your later years, that come with costs?

Do you plan to live with or provide financial care to other family members?

Add everything up from these answers and other questions that bubble up from these, and you'll get your number.

Most people pursue, want, and need money in some form.

The More Specific You Are, the Better Your Roadmap

Get specific because these answers are your roadmap in deciding what number to aim for.

After you confirm your number, it's time to decide what your must-haves are.

And remember, must-haves are anything that makes you go, "I gotta do this before I depart this earth."

Don't hold back.

Your Third Audit

What can be cut?

What is absolutely unnecessary?

Are there things I desire that can be done at a lower cost?

Are there responsibilities I'm taking on that I don't need to?

Once you finalize everything, what number do you end up with?

This is your roadmap.

Don't go for more.

Don't go for less.

Set a timeline.

Set a plan for how you'll attain it.

But don't get greedy.

Once you're dead, none of this shit will matter.

Don't waste your life chasing money.

Instead, spend your life pursuing your passions, making your dreams a reality, and finding creative ways to do this.

And another thing, don't wait until your later years to make it all happen.

You can make a lot of your desires a reality now.

Chasing Numbers Out of Curiosity

If you're going to chase numbers just to see how much you can earn, which is endless (Elon Musk is the best example), do it knowing everything comes with a cost.

What are you willing to sacrifice in this pursuit?

As long as you're okay with it, that's all that matters.

Just don't forget, everything in this life ends up as smoke.

We come.

We die.

Money comes.

Money goes.

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Thank you for reading

This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.