Becoming a millionaire

I think it depends on how you get there. Grinding for ten years of your adult and suddenly looking at your accounts and portfolios one day and being like "well, we're worth $1.35 million right now. Okay." is different (more anti-climactic, though still satisfying) than, for example, getting a windfall (lottery, acquisition, inheritance, etc.). In the former scenario, your hedonic preferences tend to (though don't necessarily have to) adjust as you run on that treadmill of more money, more savings, more expenses, etc. so by the time you're worth 7-figures it just sort of another event in the long cycle of your life. Whereas someone walking up to you and paying you $1.5m for your bakery business that you started with $25k and a prayer three years ago but is now has to feel different. I'm not sure which is ultimately better--there are upsides and downsides to each situation.

/r/investing Thread