Get Rich and Be Happy by Following This

Money & Mindfulness

Author

Millionaire Syrup
March 14, 2024

Get Rich and Be Happy by Following This

Money & Mindfulness

$0-100k

Going from zero to 100K is like playing a game, and at this level, it's called the "heads down zone." It can be tough and require you to work harder and longer than you may want to. But here's the key: become obsessed with learning. This means sacrificing in the short term to win faster in the long run.

For example, this could mean putting in 60-hour weeks for others. But just know that by doing this, you will accelerate your progress.

Charlie Munger, one of the wealthiest people in the world, believes the first 100K is a hurdle, but you've got to do it. No matter what it takes, whether it's cutting expenses or finding ways to save.

$100k-200k

Here is where you do the Self-Interview Practice. The self-interview framework is a powerful tool that helps you find the perfect balance between your passions and making money. By listing your peaks (things you love) and valleys (things you don't enjoy as much), you gain a deeper understanding of what truly drives you. This level of self-awareness allows you to become fully immersed in your work, making you more dedicated and focused.

The self-interview framework also helps you become obsessed with what you're doing. When you align your passions with potential income streams, you tap into a level of excitement and dedication that propels you forward.

Japanese Concept Called "Ikigai"
This concept involves listing four things: things you love to do, things you're good at, things you can be paid for, and things you think the world needs. The idea is to find some overlap among these four areas. In a perfect world, the thing you do would perfectly align with your love, skills, income, and what the world needs. This helps you create obsession in the work you do. When you’re obsessed, you are more likely to win.

$200k-500k

This is where you enter the “Skin in the Game” zone. It refers to a shift in mindset from relying solely on a monthly salary to having a direct stake in the outcomes of your work.

It means that if you succeed, you reap the rewards, but if you fail, there may be consequences. This approach encourages a stronger sense of accountability and ownership. It's about aligning your incentives with the results you produce. Sometimes, it means taking risks and leaving behind certain comforts.

$500k+

This is called the "Peak" or what is actually the "plateau". It’s referred to as the "career dissatisfaction cycle." Basically, it's when you reach a certain level of success, but instead of feeling satisfied, you start comparing yourself to others who have more. It's like a never-ending cycle where you always want more.

But here's the thing: comparing yourself to others who have more can steal your joy. If you want to be successful, surround yourself with people who are more successful than you. But if you want to be happy, surround yourself with people who are less successful than you. So, focus on your own journey and find happiness in your own accomplishments.

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