Curse of money

The concept of the "curse of money" appears in various forms, ranging from wealth expectations to the harms of entitlement. Here are several insights from trusted experts:

1. Curse of Familiar Riches:

   • Shaan Puri discusses how his perceptions of wealth evolved. As a child, he saw $100,000 as a significant amount, and then $1 million as immeasurable. He refers to the "curse of familiar riches" where achieving a familiar wealth level makes it easier to think about incremental increases (like 1-2x) but harder to conceptualize substantial leaps (like 5-10x) 1.

2. Curse of Overfunding:

   • Shaan Puri also mentions the "curse of money" in the context of startups, where receiving too much money before achieving product-market fit can actually decrease the chances of success. It creates high expectations and pressure, which can hinder agility and innovation 2.

3. Entitlement as a Curse:

   • Kevin O'Leary highlights the danger of entitlement within families. He argues that removing financial risks from someone's future can be a curse, as it almost guarantees their failure by stripping away the motivation to succeed independently 3.

     Familiar Riches Curse

     Shaan Puri

     Sam Parr

     Shaan discusses the concept of the "curse of familiar riches," where growing up with a set idea of wealth can limit financial aspirations. He reflects on how his perception of wealth evolved from childhood to adulthood, shedding light on the impact of money mindset.

     

     My First Million

     The Real Story Behind Shaan's Best Investment (Bought For $52M?!)

     Explore similar conversationsView full episode summary

     1

     2

     3

     4

4. The Illusion of "F-You Money":

   • Jonathan Fields and Natalie Sisson debate the concept of "f-you money," where people work towards a substantial amount of money to gain complete freedom. They argue that this pursuit can lead to a never-ending chase for 'a little bit more,' often resulting in a loss of fulfillment and delayed gratification 4.

These insights suggest that the "curse of money" can manifest in several ways, from limiting mindsets about wealth to the pitfalls of entitlement and overfunding.