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A speaker argues wealth isn't about total earnings but how fast you make them. Earning $1 million over 40 years versus one year versus one month shows the same sum can be 480 times more valuable depending on the timeframe.
A speaker argues wealth isn't about total earnings but how fast you make them. Earning $1 million over 40 years versus one year versus one month shows the same sum can be 480 times more valuable depending on the timeframe.
In fact, one of the principles I teach is that wealth is measured more in time than it is in money. And I ask the question, if you make $1 million, are you rich? And the answer is, it depends. Because if you make $25,000 a year and you work for 40 years, you made $1 million. Are you rich? And the answer is probably not. But if you make that same million dollars in a year, now you're rich. Or if you make that, you're 40 times richer than the person who makes $25,000 a year, not because you made a different amount of money, but you made it in a different period of time. If you make $1 million a month, you're 480 times richer than the person who makes $1 million over 40 years, and you're 12 times richer than the person who makes $1 million a year. Why? Not because you changed the amount, but because you changed the frequency.
