When $Millions Just Aren't Enough

“In Silicon Valley, Millionaires Who Don’t Feel Rich,” an article in Sunday’s New York Times, profiles a millionaire named Hal Steger. Mr. Steger, a marketing executive, seems to have it made. He and his wife own their $1.3 million house free and clear. They have more than $2 million in savings.

Yet Mr. Steger still goes to his office every day, where he usually puts in 12-hour days. He’s betting on the start-up company where he works to hit it big so he can make some real money.

And you know what? Mr. Steger is a very, very smart guy. He told the Times, “. . . a few million doesn’t go as far as it used to. Maybe in the ’70s, a few million bucks meant ‘Lifestyles of the Rich and Famous,’ or Richie Rich living in a big house with a butler. But not anymore.”

He hasn’t let the word “millionaire” go to his head and make him think that he is better off than he really is - or that his financial future is assured.

He’s looking toward the future. He is thinking like an entrepreneur, by working for a start-up. He has paid off his house and positioned himself to profit from all its future appreciation. He has saved money and invested it. He has steered clear of debt.

In a way, Mr. Steger is a lot like our chairman Donald J. Trump. Neither man said, “I can rest on my achievements, because I am now rich.” Both men know that it is vital to stay hungry and keep growing.

Your first million is only your first. With the right outlook, far greater things are possible.