Stewart Butterfield expanded on this idea when he discussed what he called the “Three Levels of Wealth.” My colleague, Ben Carlson, beautifully summarized the three levels of wealth as:
- Level 1. I’m not stressed out about debt: People who no longer have to worry about their credit card debt or student loans.
- Level 2. I don’t care what stuff costs in restaurants: How much you spend on a particular meal isn’t impacted by your finances.
- Level 3. I don’t care what a vacation costs: People who don’t care how expensive the hotel is or which flight they go on.
I heard Stewart Butterfield describe this idea on a podcast and was fascinated by it. Nick Maggiulli took it a step further in this article, complete with a Jay-Z reference.