Hedonic Adaptation and how millions cannot automatically make you happy

[ch12]

The question: what does it feel like to be a self-made millionaire under the age of 25?

Answer: Not a whole lot different, except that you are the youngest and most underdressed in almost every restaurant. You have to figure out what's important to you. Also, people ask you for money. You don't sweat the small stuff.

It's not fully Mustachian, but I think a good takeaway is that you can live like you're a happy multi-millionaire on a lot less money that average people think - which is a Mustachian principle.

You can read the individual answers for better details. http://www.quora.com/Wealthy-People-and-Families/What-does-it-feel-like-to-be-a-self-made-millionaire-under-the-age-of-25

[arebelspy]

Some interesting thoughts in there.

Some not so interesting as well.

Enjoyed it though.  Thanks for sharing.

[sol]

A relevant summary from someone who sold a company for more than $100 million at age 24:

The most interesting effect is that I thought consciously about my personal goals. I never did that before. Now I thought.... well, I can basically do anything I want. So what do I want? Not such an easy question. Surprisingly, the goals I identified were mostly goals that don't require much money, such as: learn to photograph landscapes like a pro, become a good salsa dancer, learn italian language, learn to cook Thai. Now I am working more consciously towards my goals. I found myself a private italian teacher (whilst before I would have joined a course) but the most striking realization was that I could basically have done all these things with just a modest salary... and I didn't, because I imagined I need to work so hard and make money.