$20M Sale at 31
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A story about how Sam Parr set and achieved his wealth goal through careful calculation and planning.
"I wanted to have $20 million by age 30. That was my goal - I created it when I was 19 or 20 years old. I achieved it at 31 when I sold my company.
I came up with that number because I asked a rich person I knew how much money they spend a month. They told me $60,000 a month. At the time, I thought that sounded crazy, but I asked about 8 people and this person had the highest number. I decided to use that because I wanted to be conservative.
If you withdraw only 3% of $20 million, that gives you about $600,000 a year to spend. That's how I made up that number. Though ironically, I only spend $15,000 a month now, not even close to what I planned for."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.