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Aug 26, 2019 in Other

Q:

What's it like to make 1 million dollars a year?

1 Answer

Aug 28, 2019

From a witness’ perspective, it just allows for more freedom on a day to day basis. My father retired in 2016 after making roughly $800,000-$2,000,000 almost every month from 2010–2014 in the mortgage business. His bank was bringing in an average monthly lone production in excess of $30,000,000. You may ask about the life that it buys you when you are making that sort of money being in your late 30s/early 40s— cars, boats, women, wild parties, alcohol, trips to Vegas 2 times a month, a chauffeur, Ruth’s Chris 4 times a week, and whatever else you long for. Usually we had 2–3 cars in our driveway at all times and no less than $500,000 stored in our kitchen freezer. My father’s compulsion was immeasurable: going out and buying two of the exact same Range Rovers but in different colors, spending $100,000+ on watches, contemplating over getting his pilot’s license so he can buy a helicopter to fly himself then changing his mind to a plane a week later— (he never got either by the way). I remember he once took all of his employees to Ruth’s Chris on Christmas Eve and spent $40,000 in 2 hours. It was all a bit excessive, especially considering it was just my father and I—my mother and father had split apart several years after my birth. My dad drove his Ferrari, Porsche, or Mercedes, during the spring/summer, and his Range Rovers or Escalade in the winter. On top of that, all of the cars were paid upfront in cash. The house was relatively big (7500 sq ft with the basement) and costed around $900,000. Again, it was quite excessive for only two people (father and myself). We rarely ever took trips because we didn’t find any fun in it, and if we did, they were to close places. To boot, I had almost everything I wanted: dirt bikes, a basketball court, a large pool, Stefano Ricci belts, watches, and a bunch of other unnecessary crap. Albeit, I was always taught morals and if you didn’t see me get dropped off in a limo, you would never know that we had so much. Now in my later teens, I reflect and laugh. My father and I decided to move out of our home town—Baltimore, Maryland, and head west. We live a very modest lifestyle in a condominium and I attend a private school. My father, now 48, drives a $20,000 car and lives life to the fullest—traveling places that he’s never been and joining the workforce again by starting up his own solar company in Vegas out of sheer boredom. What a difference 10 years of age can make. Now I sit and listen everyday as he yet again makes hour long phone calls with Tony Robbins and his other buddies on developing something that has never been done before. It’s like 2014 all over again. Even whilst making an average of $50,000 a day in 2010, he still says that he was miserable despite all of the possessions he had. Aforementioned, he chose simplicity and downgraded significantly but I still find it funny getting out of a $20,000 car with a $75,000 watch on. Money means different things to different people. To us, money is just an extension to our person. We don’t really care about it anymore because we’ve been fortunate enough to have every tangible thing we’ve ever wanted. Thus, money became meaningless. To reiterate, having that kind of money just allows for absolute freedom and less stress (usually). Don’t be fooled though, MONEY DOES NOT BUY HAPPINESS IN THE LONG RUN. However, what you do to help others does. One day, the only important thing to you will be the mark that you’ve left on others in the world. $1,000,000 a year could give you the exact same lifestyle but how you choose to spend it is up to you!

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