Money Enables Lifestyle

Ankur Nagpal, who sold his company Teachable for over $200M, believes that money should be a tool to enable the life you want rather than becoming an end goal itself. He emphasizes that true financial freedom comes from not letting money control your decisions.

Key Points:

• Two Approaches to Wealth:

  • Camp 1: People who see life as a vessel to make as much money as possible
  • Camp 2: People who view money as a tool to live the life they want
  • Ankur firmly places himself in Camp 2

• Core Components of Happiness:

  • Plenty of time outdoors with sunlight
  • Constant movement (walks 20,000 steps daily)
  • Having a higher purpose (work with meaning)
  • Meaningful relationships

• Living Preferences:

  • Chooses to live in NYC (highest tax location) because it aligns with desired lifestyle
  • Refuses to move somewhere just to save on taxes
  • Values quality of life over tax optimization

• Observations on Wealth Psychology:

  • Many wealthy people remain stressed about pursuing more money
  • "100 millionaires who want to be billionaires"
  • The point of having money is to not worry about money
  • Best thing bought with money: ability to say no to high-paying opportunities

• Financial Freedom Definition:

  • Not about being able to buy what you want
  • About money no longer dictating your decisions
  • Freedom FROM money rather than freedom TO spend money

• Warning Signs:

  • People who spend their lives worrying about taxes tend to be unhappiest
  • Moving to tax havens means surrounding yourself with others solely focused on tax avoidance
  • Being wealthy but stressed about money means missing the point