How Much Money is Enough? 🧐

How much money is enough? I get asked this question a lot, and by the way, it's not a million. Now, I actually have a number on how much money is enough, having gone through this journey myself. But people ask this question how much is enough, like always striving for more is wrong, or that if you're always striving for more, you'll never be happy. I don't agree with this. I think that evolution is the constant improvement of the human species Revolution is a fast improvement, sometimes through chaos into order, of the human species. So a lot of people are looking for the end date, the retirement date, the date that they can stop when they've got enough money, when finally it will all be enough. And I can tell you, having retired about 5 times both financially and physically from not working, it didn't take many weeks for me to realize that the continual journey is the destination rather than the destination is the destination. So a lot of people believe that, well, I don't want to be on the treadmill and Just one day. There's got to be an end to this. There is no end. The end is death. But actually, having retired many times, I can tell you, you lose your purpose. You feel frustrated and lost. And human beings can do almost anything with purpose. And almost nothing when they have no hope. So how much is ever enough? No amount is ever enough. When is it ever enough? It's never enough, and that's okay because you want to know that tomorrow there's growth, tomorrow there's opportunity, tomorrow there's surprise, Tomorrow there's mystery. So this illusion that when you're 50 you can retire, or when you've got a certain amount of money, that's enough, or when you're a certain size in the company, or a certain net worth, or you've got a certain house, or a certain car, or a certain husband or wife or family, that will be enough— no, it never will be enough. And by the way, that's not greed, that's just The human journey, the journey of continual improvement, of continual evolution, of chaos to order to chaos to order to chaos to order to chaos to order. Now, Mark said, ultimately, once you have enough for yourself, it's about helping others in whatever, whatever shape or form. I don't agree with that, Mark. I partly agree with it. So, by the way, I'm going to give you a number on how much is enough because I know how much is enough, and I know how much is not enough, and a million is not enough. So, um, yeah, we've got some good comments here. I want to get in on them. So what— here's the thing: you, you thought 20 years ago that being a millionaire was the ultimate goal. Now a millionaire is nowhere near enough, and with inflation and government debt and soaring cost of living You need to make 20% extra a year right now just to be staying ahead. So for example, Marcus said ultimately once you have enough, but you don't have enough because inflation, an increase of cost of living, will always move the goalposts up, the crossbar up. So you don't ever have enough. Now some people can say, oh well, a billionaire has enough. They might have enough money, but maybe they don't have enough fulfillment. Maybe they haven't finished their vision, their mission. Maybe they haven't had enough of the purpose, because purpose is never-ending. Now, by the way, you can help people and make money. So Mark sort of made the comment here, like, once you've got enough, then you can help others. No, no, helping— not help others while gaining yourself. Um, Carla said, if you chase money, it's an endless process. Yeah, but life is an endless process until it ends, and then it's not an endless process. So, um, I'll tell you how much is enough. $10 million. For most people, $10 million is enough. But for most people, $1 million is not enough. Here's why. $1 million will probably give you comfortably low-risk net 5% return, except when it doesn't, when it in these blippy years like it is now. So you're going to make it— make 50, 60, 70 grand one year, 20, 30, 40 grand one year, or minus one year like now, minus 10 or minus 20%. So, you know, really, if you want to calculate on how much is enough money, you want to look at what's 5% of the capital amount, as long as it's invested wisely. So 50 grand, you can't live on that anymore. That doesn't even fill your tank with petrol. So 10 million is probably enough for most people because 5% net return on that is 500,000. But you might not get that every year. And inflation, by the way, 10 million at 10% inflation is relatively worth 9 million the next year and 8 million the next year. So you've got to get more than 10% return with 10% inflation just to keep the same amount of capital. People don't understand this. Use it or lose it. That's the law of the universe. If you're green, you grow. If you're ripe, you rot. So a million is nowhere near enough. And by the way, when you have a million, you've got taxes and taxes. So 10 million. That's the number which will give you a good life, and your return on that money— you can live in it on— so if you've got 500 grand a year from 10 million, you're going to get taxed a fair lump of that, let's say 40%, so you're left with 300. So it already goes down, you're left with 300, and then maybe you could invest, reinvest 100 and live on 200, and then maybe you can beat inflation and a bit. And with that reinvestment, that 10 million could go up progressively. So that's the number. Let me know what you think. Stephen has said 186 million, that's how much is enough. Um, Stephen has said I could make 5 grand a month passive income from from 1 mil, what's that, 60 grand a year, so that's 6%, that's doable, Stephen. Yeah, now by the way, you could beat that if you're a professional investor, but if you're not, you might want to put it in some low-risk assets that pay a passive return, but you've got to work out your taxes, you've got to work out your inflation. A million's not enough anymore, it's virtually nothing. And by the way, I know this because I became a millionaire just before age 31, and I thought that would be enough. And I realized it wasn't. And I got to £10 million, and then I realized, you know what, if I want to stop now financially, I could stop and manage my investments well, and I could probably sustain for the rest of my life and my family and my kids, and maybe for their life too, if I managed the capital well. So let me know what you think in the comments. Now, by the way, if you'd love to learn how to make, manage, and master money, if you'd love to learn how to create multiple streams of recurring income and build assets and get to that 10 million figure, then go and join Rob.team. Rob.team is a digital financial education platform and tool which helps you start and scale a business, get better financial knowledge and education, and helps you make, manage, and master money, and helps you build assets, and helps you build a passive recurring income. To join, it's really easy. It's also not a lot of money. It's one-third of the price of your Netflix subscription and less than a large Costa Coffee. And to join with no contract and you can cancel any time, you simply open up a new page right now and type in rob.team. Go do that now, and then I'm going to come and engage in some of the comments because I've seen a couple of interesting ones I want to shout out. But go join rob.team now because you need to learn to earn and earn to invest and invest to get recurring and passive income. If you don't make money while you sleep, you'll be working until you die. This is what Warren Buffett said. The world has changed. You must focus on your money. It's far more important now with inflation and taxation and the soaring cost of living crisis. And I want you to beat inflation, beat taxation, beat the banks, beat the government. And to do that, you've got to start a business or scale a business or start a side hustle. You've got to build digital assets. Even if you haven't got a lot of money, you can still do this. You can build an online business, digital assets. Adam has said it's well worth sacrificing a cup of coffee a month. Tiffany has said become a Rob.team member. So open a new page on the internet right now if you want to hit your number, the number that's enough to be financially free for the rest of your life, and type in rob.team. Go and do that right now. Go and join, no, um, no contract and cancel anytime. There's loads of masterclasses. I do masterclasses every sort of 2 weeks. How to Start Your Business Masterclass, How to Scale Your Business Masterclass. We've got the 21 Ways to Monetize Social Media Masterclass. We've got the Content Monetization Masterclass. We've got the 5 Fastest Ways to $100K Masterclass. And we've got masterclasses coming every 2 weeks and live events and tools and courses and resources on making, managing, and mastering money. Um, I need to respond to John here because John has said absolute nonsense. No one needs Millions in the bank, just get the cash flow on a regular month. Yeah, where from, John? Where from? Maybe you should be doing some lives. Um, now look, if you have an asset that produces income, you're likely to get a 5% return on the asset. So cash could be the asset, property could be the asset. But you probably need— if you've got 10 mil of cash, 5% is 500 grand a year. Um, but if you've got 10 mil of property, you've probably got some debt on that. So you could have 10, 20 mil of assets. To be honest, you probably need more like 20 to 30 mil of assets to get the half a mil a year. Assuming you've got leverage on it. So, um, and remember, the, the live title is 'How Much Is Enough?' It's not 'How much do you need?' It's 'How much is enough?' And that's a different question. So does everyone need millions in the bank? Not if they want to keep working every month, no. But if they want enough for life, then they do need millions in the bank. This is my point. Probably 10 million. How do I feel about inheritance? Well, I mean, I think inheritance tax is a massive scam. Far too much money. Um, And yeah, I think it will cause issues with the families, and I probably will be educating my kids more than leaving them a load of money, if I'm quite honest. Maria said a million is fuck all. Absolutely right. A million at the moment with inflation goes down to 900 or 850 grand next year, and inflation's surely going to keep going up beyond a year, so it might be down to 750 grand in 2 years. It's not a lot of money. That being said, if you've got a relatively low overhead, you might be able to live on £3,000, £4,000, £5,000 a month. And if you've got assets that produce passive income of £3,000, £4,000, £5,000 a month, you might not need £10 million cash. But remember, you've got to adjust inflation, and that changes over time, i.e., you need more over time because inflation reduces the relative value of your money, which people don't understand. So if you'd like to learn about inflation and beating inflation and having inflation-beating assets, assets that produce income, recurring income, passive income, um, if you'd like to make, manage, and master money, if you'd like to get financial tools and resources and courses to help you win the game of money and beat the banks, whether it's a side hustle or full-time, part-time, or big time, then go join rob.team. Rob.team will cost you less than a large coffee per month. It will cost you one-third of the price of a Netflix subscription. You can cancel anytime with no contract. It's all digitally downloadable online, as well as live Zooms in the future. We've got hundreds of hours of courses that are recorded. Just open up a new page on the internet right now to join with no risk and type Rob.team. A-M. That's rob.team. Go do that right now if you want to build assets that produce income. Because I'm saying a mil is not enough. I'm saying it's okay for it to never be enough because that's human nature. And I think sometimes it's laziness that thinks, oh well, you know, whenever enough, I just want, I just want to stop. I just want to be comfortable and happy. Often that's laziness and a lack of direction. Um, but even if you had a number, in 10 years with inflation, that's been wiped out, with especially inflation as high as it is now. So the, the amount of money that people think they need, it's a lot more, and in 10 years you need it double at least. So you need to factor that in to to the growth of your assets. Now look, you could live off enough capital if you had 10 mil, 20 mil, or you could turn capital into assets that produce recurring income. That's a good way to do it, and that's what you can learn to do in Rob.team. You can learn to build assets with time or money, assets that produce recurring and passive income, so you can one day maybe live off the recurring and passive income, or at least get that side hustle and get that income up and get those additional income streams up. So just type in rob.team if you want to learn how to do this and be in a community of thousands of people who are doing this too. Okay, Amanda's given rob.team 3 big fiery booms. Richard says PAX gold or physical gold? I prefer physical gold. I just think it's real, it's tangible. Do you know there's financial wealth and hard wealth? Financial wealth is wealth through money. Money is not backed by anything, it's not real. Money is buying power, but money is not material wealth. Material wealth is gold, physical assets. Now both are valuable, but in times of great inflation, recession, depression, revolution, physical wealth, hard wealth, is much more powerful than financial wealth. So I like some hard wealth as well as some financial wealth, i.e., some physical asset as well as some Funny fiat money. So physical gold every day of the week. I buy, um, Krugerrands. Got any other questions or comments? Welcome to Rob.team, Maria. Richard said there is no definitive figure and no ending top figure. Well, in some ways, Richard, I agree with you. In some ways, I slightly disagree. So, um, the reason I agree is what I said at the start of the video. Which is life is like snakes and ladders. It starts at zero, but it doesn't end at 100. It just keeps going up. And people, people want a destination, an end. They feel like they're a, you know, a rat in a wheel, a hamster in a cage going around. I just want to retire. I just want life to be easier. No, no, no. Stop wishing life were easier. Wish you were better. And when you're green, you grow. When you're ripe, you rot. And if you don't use it, you lose it. So with your body, if you stop moving your body, your body atrophies. If you stop using your mind, your mind atrophies. So actually, continual growth and development and always sort of shooting for more is part of human nature and the human journey. And people don't understand this. They're looking for the easy way out. And I know this because I've retired a load of times and it didn't— I didn't last long. I didn't feel a purpose. I realised that a million, you know, when I made my first million just before age 31, I thought I was financially free. I thought I was rich, thought I could retire. And then I made my 10th million, I realised actually that is quite a lot of money, and actually I could live off that if I stopped everything, kept my overhead where it was, made sure that it was invested wisely with low risk and making minimum 5% a year, and I reinvested enough of that 5% that I drew to beat inflation, I could live off that for my life. But then you want a nicer car and a nice house and a bigger holiday and everything else, and then in 1 or 2 or 3 years inflation is freaking 10 or 15%, you're like, shit, maybe even 10 million isn't enough. Because 10 million in 10 years is 5 million relatively, and in another 10 years this goes down again by that. So you've got to think about all this. So there is a number for most normal people who've got 40 or 50 years left, and it's minimum 10 million. It's not a million. But I also agree that there is no end. Get used to the fact that there is no end. And then once you embrace the fact that there is no end and it's never enough, then it's enough. The paradox of when is it ever enough— when you accept it's never enough, then it's enough. Oh. Maria said, by the way, people say that you're crazy. Fuck them, you're sharp, good for you. Yeah, you know, I got loads of critics, trolls, haters, punks, and wankers, and I'm very grateful to them. I'll take them all. If anyone wants any, give them to me. I'm going large. I want more, I need more. I've got less than Donald Trump, a lot less. I need more. Let's have them. Okay, Charlie wants financial freedom and won't stop until Charlie has financial freedom. Charlie, join Rob.team. Rob.team will give you the tools and resources, the courses, the mindset, skill sets, strategies, and tactics of making money. And I say this with humility, but I wrote the book on money called Money, and I've got a podcast called Money with more than 250 episodes. So, you know, I'm well versed in this area, and I made a lot of money in my life, and I'm pushing for more. So I can help you do the same if you join Rob.team. Rob.team is a digital financial platform. It costs you less than a large coffee, one-third of the price of Netflix. You can cancel anytime with no contract, and there's courses and resources. There's hundreds of hours already banked in the, in the members area that you can instantly download when you join Rob.team. But then there's also, every week or two, there's a new Zoom masterclass with a millionaire mentor or myself on business and money and finance and, um, social media and content and digital assets. You name it, when it comes to money, it's there. Wow, I've got shit loads of comments. What is enough is up to the individual, and for me, enough to do what I want to do with comfort. But that will change, Lynn. That will change over your life as things change, and also as inflation wipes out your money. You'll need more and more and more and more. So there you go, you got to think about that. Thank you very much for the kind comments. All right then, so thanks for tuning in. Let me know your figure. How much is enough? A million is not enough. I reckon 10 probably is, but inflation carries on like this for enough years, it'll wipe it out and it'll need to be anymore. But in reality, with life, the paradox of life is it is never enough. Because that is human nature of evolution. And when you embrace and accept the fact that it's never enough, then it's enough. Let me know what you think. Let's have some comments. Hit the share button because I get asked this all the time. Oh, when is it ever enough? Usually people who say that aren't happy with the direction of their life and they just want it to be easy. Don't wish it were easy, I wish you were better. There is no destination. That's the whole point of the journey. If there was a destination, you know, like imagine if you were never to die and you were to live forever. I mean, living forever would be one of the greatest curses that could ever be bestowed upon you, I believe. The fact that life is finite, the fact that there is an end and you don't know when, makes life the journey that it is. So, um, embrace the journey of it's never enough and it will always be enough. But if you want a number, it's £10 million minimum. A million, a million's fuck all. It's just not enough. Thanks for tuning in, everyone. Hit the share button, and remember, if you don't risk anything, you risk everything. I will see you in Rob.team. Join the financial, um, educational platform. Stuff you wish you would have learned in school, stuff you wish your parents would have taught you about money. And by the way, I know because I've written the book on money and have a podcast with 250+ episodes on money. So, um, yeah, just type in rob.team into a new window and join for less than a large coffee, one-third of the price of Netflix. And, uh, yeah, by all means, learn how— you'll learn how to build assets, property, business, gold, and In fact, there's a 9-module, 10-hour How to Invest series in rob.team. Um, there's a 21 Ways to Monetize Social Media in rob.team. There's How to Start a Business and, um, the 5 Quickest Ways to $100K. So there's all these courses, resources, recorded and live in rob.team. I'll see you there. Just type rob.team into a new window. I'll see you there. Thanks for tuning in.