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Level 4 (1M–10M) really is the no-man's-land of wealth.
For example, going from $100k to $300k can change your life. You can quit a job, move somewhere else, or take a chance on something of your own.
Going from $5M to $5.2M? You're richer, but you don't notice the increase anymore in the same way. This is where the diminishing returns start to show.
Back in 2021, when I went from $500k to $1m, I felt like on top of the world. It was a big change for me. A little backstory: in Feb 2021, I quit my 9-5 job with $500k NW, and it felt like a huge achievement. I knew it wasn’t enough to live off forever, but it was enough to dare to bet on myself.
During the years after 21’ there have been periods where my NW has increased a lot, and periods where it went a bit down or barely went up at all.
So I can very much relate to what Nick says: at some point, you could “work” twice as hard and barely notice the difference in your life. Your portfolio grows. But the extra money buys you less, while the time it costs you stays the same.
This is where I think a lot of people in crypto get stuck. You know how to make money. But unless you increase the risk, your NW will only go up linearly.
Because you might have to risk money you no longer want to lose. So you end up in the middle, the 7-figure hell (no man's land).
Imagine spending another year glued to crypto to make an extra $200k on a $5M portfolio (4% increase).
Don’t misunderstand me, that’s a lot of money, but many people don’t want to risk the big gains they’ve already earned, and since they don’t, their NW will barely move, and they’re forever trapped in the 7-fig hell.
For example, going from $100k to $300k can change your life. You can quit a job, move somewhere else, or take a chance on something of your own.
Going from $5M to $5.2M? You're richer, but you don't notice the increase anymore in the same way. This is where the diminishing returns start to show.
Back in 2021, when I went from $500k to $1m, I felt like on top of the world. It was a big change for me. A little backstory: in Feb 2021, I quit my 9-5 job with $500k NW, and it felt like a huge achievement. I knew it wasn’t enough to live off forever, but it was enough to dare to bet on myself.
During the years after 21’ there have been periods where my NW has increased a lot, and periods where it went a bit down or barely went up at all.
So I can very much relate to what Nick says: at some point, you could “work” twice as hard and barely notice the difference in your life. Your portfolio grows. But the extra money buys you less, while the time it costs you stays the same.
This is where I think a lot of people in crypto get stuck. You know how to make money. But unless you increase the risk, your NW will only go up linearly.
Because you might have to risk money you no longer want to lose. So you end up in the middle, the 7-figure hell (no man's land).
Imagine spending another year glued to crypto to make an extra $200k on a $5M portfolio (4% increase).
Don’t misunderstand me, that’s a lot of money, but many people don’t want to risk the big gains they’ve already earned, and since they don’t, their NW will barely move, and they’re forever trapped in the 7-fig hell.
This is why I say that Level 4 ($1M-$10M) is the no man's land of wealth. At some point you could work twice as hard and it barely makes a dent.View quoted post on X
