How much money do you need to be happy?
Money alone is not going to make you a happy person, but it can sure as hell help you get there. Money can buy you security, time, health, and safety for you and your loved ones, and it can relieve stress when it comes to life's financial pressures.
To say that money can't impact your happiness is naive. But what we want to know is, when is enough, enough?
If you don't know that number, you can easily slip into the hole of always needing and wanting more, which inevitably takes away from your happiness. At a certain point, you start wasting your time and adding stress to your life in the never-ending pursuit of more.
So what is the threshold when it's time to end the chase and simply enjoy the life you've built for yourself?
In this episode, Ankur Nagpal shared his number. Ankur Nagpal is in his early thirties with a net worth north of nine figures. He started raking in money in college with his Facebook App business, but his real life-changing moment was when he sold his company Teachable for a quarter billion dollars. Now, he's the founder of fintech company Carry, formerly known as Ocho.
Ankur will tell us about the financial decisions he made that contributed to his happiness, the mistakes he made, and he's radically transparent about the numbers while he does so.
Sam will also share his own "happiness threshold" number, and we'll also get input from another guy who rakes in over $10 million a year.
This is MoneyWise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits.
Who is Sam Parr?
Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022.
This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.
Chapters:
Who is Ankur Nagpal (2:37)
Why we're asking "When is enough, enough?" (4:15)
Ankur's first multimillion-dollar venture (6:19)
How he built and sold Teachable (7:59)
How his life changed after selling Teachable (10:38)
Ankur's burn rate after a $40 million check (15:22)
Why not working didn't make him happy (16:15)
Ankur's cost of living (18:12)
Ankur's "Happiness Threshold" number (21:40)
Sam's "Happiness Threshold" number and closing thoughts (24:05)
This podcast was produced in partnership with Lower Street and distributed by Morning Brew.