I like Nick Maggiulli’s concept of a wealth ladder, which is that your approach to money should change as you move up the wealth ladder. In simpler terms, it’s the idea that what you do at $10,000 of net worth isn’t what you should be doing at $1,000,000. Sensible right?
But what is the ideal level of wealth?
The Ideal Level of Wealth [Of Dollars and Data] – “However, the more I think about these responses, the more I find them unsatisfying. If the ideal level of wealth is always based on individual circumstances, then we can’t provide any general guidelines around it. If everyone is special, then no one is. In effect, we’ve maximized precision but minimized usefulness.”