I know Mondays are usually when we talk about ideas, investing and Bitcoin but today I want to share with you a great thread that I came across on Twitter.
It's called "The 6529 GMI Framework". It may sound fancy but it's basically a framework describing the different levels of wealth. The thread was written by a pseudonymous Twitter account called @punk6529. The guy is clearly very wealthy, he owns a bunch of CryptoPunks but he's also sort of like the Naval of the crypto space, often sharing life philosophies on Twitter.
Level 1: Crushed by Circumstances 😔
- These are refugees in Syria, people who were born into a civil war in Congo
- Unfortunately, there are billions of people in the world who don't even have the faintest opportunity to make it just because they were born into these circumstances
- Thousands of little kids will die today because they don't have the access to a $0.50 pill while we are on the internet buying JPEGs for thousands of dollars
- Level 1 in many cases is a coordination problem. Literally everyone on earth would skip having a soda today for a glass of water to save a kid's life, but the systems are not in place to deliver this (yet)
- Basically, if you're reading this, you most likely have already made it past Level 1
Level 2: The Struggle is Real 😟
- This is where day-to-day, financial problems are a hassle. You work 2 jobs. You don't have any savings. You get sick and a cascading set of problems will happen because you don't have enough emergency fund
- If you are in Level 2 and you are in good health, do everything possible to get out of Level 2
- Work overtime. Take another job. Push harder now, because just getting out of Level 2 to Level 3, the impact will be life-changing
- When money problems linger in your mind every day, they are a huge tax on your happiness and on your productivity
Level 3: Middle Class 😄
- Everyone likes to think they are middle class - I think this is so true
- Even though there's no definable range for the middle class, if you have a house, a car, some savings but don't have like FU money to buy whatever you want then you're in Level 3
- If you are in Level 3, enjoy it! Don't keep looking up at the people who have more but first be grateful that you're not in Level 1 or Level 2
- You are in the top 1% of anyone who ever lived on earth
Level 4: We Like Nice Things 🤑
- This starts at the upper end of the middle class and goes all the way to the uber-rich because it is a state of mind, not a specific income level
- Your basic needs are sorted and now you enjoy things. If you're in Level 4, congratulations, you have definitely made it. You're now in the 0.1% or 0.01% of anyone who ever lived
- Level 4 is tricky, you think it brings a lot more happiness than Level 3 but it brings more stress and anxiety instead
- Level 3 is much better than Level 2 which is inconceivably better than Level 1 but Level 4 is only slightly better than Level 3 at best
- If you're in Level 4, go enjoy the finer things in life. Rent a yacht. Upgrade to business class. And then be honest with yourself. Are you really happier?
Level 5: Post Consumption / Self-Actualization 💜
- This level is when you no longer care what kind of stuff you can buy but you care how you choose to spend your time
- So what now? Do you retire and play golf? Maybe, if golf is what self-actualizes you, if the dedication and challenge of mastering golf lifts you to your highest version of yourself, then by all means your Level 5 is "play golf"
- Level 5 usually means competing for some abstract goal, a goal that is bigger than you. You're in it just for the love of the game which is another dopamine trap but this is the best dopamine trap
- Level 5 is not about income. It is about fulfilment