Asking 80 Year Old Millionaires If It Was Worth It

Introduction

• This video asks retired millionaires if the sacrifices and hard work needed to become rich were worth it.
• The video explores how the millionaires made their money and if they have any regrets.

“Have you ever wondered if all the sacrifices and hard work that are needed to become rich are even worth it?”

How they made their money

• One millionaire made money in the furniture business selling mattresses and American-made furniture for 40 years.
• Another co-founder of Electronic Arts, a video game company, invented ethernet at Xerox research in Palo Alto, California.
• One retired millionaire became the president of a behavioral consulting firm after being fired from his job.
• Another millionaire made money through consulting, publishing three books, and the sixth edition of Million Dollar Consulting.

“I’m in the furniture business. We sell mattresses, American-made furniture. Been at it for 40 years.” “I was a co-founder of Electronic Arts, the video game company. The thing I invented is called Ethernet. I invented it at Xerox Research in Palo Alto, California.” “President of a behavioral consulting firm here in Providence.” “Around 1990 or so, I had published three books. And they were on things that I was consulting it. And this year, 2022, the sixth edition of Million Dollar Consulting is on the shelves for 30 years constantly worth a gazillion dollars.”

Childhood dreams and salaries

• None of the millionaires dreamed of being an astronaut or pilot when they were kids.
• One millionaire even made more money than his father when he started working as a programmer.
• The salary range for astronauts in the civil service is typically between $60,000 and $110,000.

“When you were a kid, did you think you’d be an astronaut?” “No, not at all. Never thought I’d be an astronaut. I never thought I would be a pilot. All I wanted to do was get out of school and go to work.”

How money improved their lives

• While money didn’t directly improve the millionaires’ lives, they believed that relationships were the key to a better life.
• One millionaire mentioned that money reduced stress significantly.
• For some, money allowed them to buy luxurious items like houses and cars or reduce financial burdens like college loans.
• Another millionaire emphasized the importance of money in providing valuable healthcare and education to all.

“Money didn’t improve our lives. I think relationships did. I think relationships are the currency of life, and the better relationships you have with people and with the community, then the better life you’ll lead.” “Oh, it reduces stress a lot. That was a big worry.” “We bought a big house and bought a Corvette. The kids are now taken care of.” “Money is not the metric that I use for success. But money can buy things that create happiness.”

Regrets and career satisfaction

• One millionaire regrets not spending more time with his kids while growing up, as he was focused on growing his business.
• Another wishes he had collected more names when he was younger for networking purposes.
• Most millionaires did not express regrets and were satisfied with their careers.
• One millionaire expressed his reluctance to answer questions about changing the past as his life worked out well.

“I regret I didn’t spend more time with my kids when they were growing up because I put a lot of my efforts into the business, trying to grow it.” “I wish I had collected enough names when I was younger. Now we didn’t have the technology we have today. You know, you couldn’t just create a spreadsheet or a FileMaker Pro or something. But I still could have written them down.” “I have no regrets. Just looking forward to the future.” “It’s just hard to imagine it working out better, but a partial answer to that question is I wish I had learned how to sell earlier.” “I don’t have any regrets. Money is not the metric that I use for success.” “I don’t have any regrets at all. You learn from defeats. You learn from setbacks. In fact, sometimes the learning is even greater.”

Career achievements and pride

• One millionaire’s proudest moment was going from zero to a million dollars a month as head of sales.
• Another takes pride in coaching and bringing together a global community of successful people.
• The millionaires also mentioned the value of investments in self-development and family.
• Some highlighted the importance of accountability and supporting the community through philanthropy.

“Going from zero to a million dollars a month as head of sales.” “I can look around every day and see this global community of people I coach and bring together. And how most of them, who can get out of their own way, are prospering. To me, that’s tremendously valuable.” “The best money I’ve ever spent has been twofold: on my own self-development and for my family.” “I believe that we should have safety nets. I believe that every person should have valuable health care and education and so forth. But I also believe the talent out there. And since talent out, you get paid for your talent.”

Silly things spent money on

• One millionaire bought a Jeep Grand Wagoneer that turned out to be unreliable and got stolen.
• Another bought an American Motors Hornet that got washed out to sea during a hurricane.
• One almost killed himself with a fast boat that ended up being dangerous.
• Other expenditures mentioned were a preschool and funding a trade school.

“The silliest thing I once bought was a Jeep Grand Wagoneer. It was like two and a half stars out of five. But within a year, it was gone, stolen.” “I bought a 1972 American Motors Hornet at one time, and that only lasted me a couple hundred thousand miles before it got washed out to sea during a hurricane.” “I almost killed myself with a fast boat. I bought a 50-knot boat. If you hit a granite ledge at 50 knots, your boat virtually explodes.” “I have a trade school here that I fund out of my pocket that teaches plumbing, electricity, construction skills for people for free. And I have a preschool, six months to five years old.”

Importance of Emotional Resonance

• Emotional resonance is important for personal and professional success.
• Starting out in a career, it is crucial to understand the significance of emotional resonance.
• It is valuable to know what advice to give to someone beginning their career or to your children.

“Emotional resonance is pretty important.”