I Threw Many ‘Becoming a Millionaire’ Questions at a VC — He Shared What [Really] Works

My eyes and mind opened

Admittedly, I am not the smartest kid on the block on money matters.

Or becoming richer.

Or becoming more successful.

Bob? Well, he is. And he has what I want.

However, getting him out for a casual chat is a Herculean feat. He works. Flat out.

• I tried calling at 6 in the morning. Bob was in a meeting.
• I tried at 10 in the evening. He just landed in another country for business.

And so, when he [finally] asked me for dinner 2 weeks back, I grabbed that chance, met him, and threw all millionaire-related questions at his face.

Here’s what I learned.

On Network. On Net Worth.

I zoomed in on our network.

I asked him this classic question.

“Bob, everyone says our network is our net worth. Yay or nay?”

Bob is a meticulous person. He thinks [hard] before replying.

This question, to my surprise, costs him 3 minutes of silence.

And I must say… it is well worth the wait.

“Aldric, no. Network alone, or the count of your connections, is useless. You want and you need ACCESS. I want to work with you because you have access to people with business leverage I don’t.”

His vocal emphasis is on the word access.

Bob wants me to think.

I did. It took me months to get this dinner appointment. I should be at my best. And Bob — with all due credit — is trying to take me to the next level.

It was my turn to observe 3 minutes of thinking time.

I thought about all possible permutations and retorts.

• That followers [count] matter.
• That subscribers [count] matter.
• That connections [count] matter.

Bob did not fight me on that. Instead, he got me thinking about the Big Why.

Access.

Our ability to tap into each other’s network determines our net worth. The count of people we know does not matter one bit.

“Bob, you are right. Thank you for enlightening me.”

On Money. On Life. On Retirement.

“Bob, this question might be slightly intrusive.”

He laughed.

“Must be about money. Fire away, man.”

Bob has met and worked with millions of people from all walks of life. He can identify and categorize personalities in front of him.

To him, I am an open book.

No doubt about that.

“3 questions. Do you have enough money to retire today? Will you retire if you have enough money today? Last one. Will $1,000,000 solve all our retirement problems?”

30 minutes.

That is all that is left on the clock.

And he is heading to the airport right after this.

I am out of time.

I fired fast.

“Yes, no, no. And here’s why.”

He was straight to the point. I like that.

“You cannot be a daily bum. First, your mind dies. Then, your heart. And your life expires. All in all, money does not solve the retirement problem. It only solves the money-related retirement problem. Big difference.”

What a brilliant, straightforward, no-nonsense, elegant answer.

I endorse his viewpoints.

I Asked Bob about Becoming a Millionaire

I must.

Because I have that ambition.

I needed someone to show me the way.

Bob, in my opinion, is that someone. He is at a place I want to be in 5, 8, or 10 years. Bob is in the trenches all the time. He knows what he is talking about.

“Bob. What is your advice to someone who wants to be a millionaire in 5 years?”

He asked one question before responding.

“Where is this person now? 6 digits? Half a million? Or a bankrupt?”

15 minutes left.

I replied immediately.

“Near half a mil.”

I said mil instead of million. It saved me time from pronouncing 1 additional syllable.

He continued eating and synthesizing his thoughts. We went silent for 5 minutes.

It felt like an eternity.

The clock got louder. It freaked me out.

Tick, tick, tick.

Tick, tick, tick.

I started talking to myself.

“Sh!t. Did I ask a stupid question? God. 10 minutes left. Will he tell me anything before he disappears?”

And finally.

The air was filled with words again.

Bob laid out a blueprint, with sequence, for me.

“Know what you are good at and go big. You can sell, sell. You can pitch, pitch. Next, understand the business you’re in. Create multiple income streams in your work. Then, invest. Go for the sure thing first. Cash, index funds. After that, trade. Learn to use leverage. Then, build a business. Start small. Scale.”

2 more minutes.

I kicked in one last question.

“Which is more important — High-income job? Or High-income skill?”

Bob gave me a near-immediate response.

“Skill. It stays with you. You make money so long as you’re alive. Jobs expire fast.”

We shook hands after he gave me that answer.

He had to go.

I was left alone, thinking… and chewing his words for the better.

The Close

60 minutes.

And a lifetime’s worth of lessons.

Bob works hard, wastes no time, and secures himself the best edge in his chosen game of business, investing, retirement, and life.

The most important takeaway I have from Bob is his perspective on retirement.

Our retirement depends on money and it takes more than money to achieve a fulfilling retirement.

It is mind-boggling how incredibly mature this millionaire is at 45.

I am [beyond] impressed.

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