{"id":98893,"date":"2020-11-29T10:00:52","date_gmt":"2020-11-29T17:00:52","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=98893"},"modified":"2021-03-16T13:54:33","modified_gmt":"2021-03-16T19:54:33","slug":"millionaire-overrated","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/millionaire-overrated","title":{"rendered":"Why I Think Being a Millionaire Might Be Overrated"},"content":{"rendered":"

Today I\u2019m talking to you about why being a millionaire is overrated.<\/p>\n

I\u2019m truly humbled to say that my partner in crime and I unofficially retired last year. This means we have enough money to last us a couple of lifetimes, unless our kids screw it up. Isn\u2019t that how it goes? The first generation builds it, the second one expands it \u2014 or you hope they do \u2014 and the third one loses it all, right?<\/p>\n

Being Successful All Around<\/h2>\n

That aside, I want to share something with you that I think is really important. Everyone is always dreaming of becoming a millionaire. You can ask anyone if they would want a million dollars and they would all say yes. They think it\u2019s going to solve all of their problems. But then if you ask another question \u2014 what are you doing to get to a million dollars? A lot of them won\u2019t be able to tell you that answer. A lot of them will say, well, I\u2019m working a nine-to-five job. Yes, I get it guys. But I don\u2019t think you\u2019re going to get to where you want to be working a nine-to-five job. I truly believe success comes before nine and after five.<\/p>\n

For example, I\u2019m not the smartest person out there. I quit school at the age of 14. I can\u2019t write or read too well. Despite that, one thing that I have done for many, many years is work extremely hard. Whatever I say I\u2019m going to do, I do it. That, over time, has helped me to figure things out and become successful.<\/p>\n

Related:<\/strong>\u00a0The True \u201cGet Rich Quick\u201d Scheme: How Being Broke Allowed Me to Succeed in Real Estate<\/a><\/em><\/p>\n

A Word About Responsibility<\/h2>\n

Being a millionaire gives you the option to do what you want, when you want, and where you want. It also gives you responsibility. I\u2019ve built a few great companies, and with that comes a responsibility to my investors and a responsibility to my employees. And that is something that can be a double-edged sword. You can\u2019t just take a four-week vacation unless you\u2019ve really structured your business in a way where it can be self-sufficient without your presence, which is hard to do.<\/p>\n

I just want to share a message with you guys that having a million dollars, or being a millionaire, isn’t all that great. It\u2019s not all fairy tales and butterflies. It does give you options. And it\u2019s a great feeling knowing that you have that financial stability and security. But still, it gives you responsibility. That responsibility can sometimes be a burden. You have to show up every single day and get the job done, because if you don\u2019t, you are letting people down. If you\u2019re like me, you can\u2019t let people down. It bothers me.<\/p>\n