We decided to discuss a new thread by the (almost long-forgotten) crypto influencer 6529. He put together a fantastic dive into how wealthy people see money as a game. He also spoke about how inconceivable (though maybe true) it is that you should probably budget to retire on $20M in New York City (and other major metropolitan states)!
A Twitter influencer in the crypto industry, @punk6529’s thread on “Is Money Just A Game?” has gone viral – at least for the team here at Builders.Build. As he says, for most people, money is a huge struggle, but the people who make the most money tend to think of it as a game.
Could it be that they’re both right? Is money both a struggle and a game? And why on earth would you need to retire on $20M in a place like New York City?
Click below to read this thread on Twitter; scroll to pick it up further down…
The understanding of what life costs in a metropolitan state is just so astronomically different to other everyday states that you really have no choice but to start thinking of money as a game here.
What’s on the pod?
Give this episode a listen as we dive into:
- How much you really need to retire
- Do we all just grow to be the size of our ponds?
- Did Cro-Magnon have the same concerns and needs!?
- Which tools Colin keeps by his front door (hint – a pick axe and gas canister)
- And plenty more than what you originally budgeted for.
How to Nail Your “New York” Number
In New York, it’s common to hear finance professionals asking the question “What is your number?” They’re not asking how to call you on your mobile later; They’re asking how much money it would take for you to comfortably retire without having to work anymore.
New York Magazine has a great post on nailing your New York number:
- What it takes to stop working
- How to never run out of money
- How to calculate how much money you’d really need
- And a few case studies and examples thrown in.
Click to continue reading on New York Magazine.
How to Retire on $20M in New York City
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