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Describe what being a "Millionaire" feels like.

Discussion in 'General Entrepreneurship and Startup' started by Yussef, May 16, 2012.

  1. Yussef
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    Yussef 90 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I know some of the millionaires won't be comfortable exposing themselves but for those that don't mind please tell us what becoming a millionaire felt like the first day you woke and realized "Shit... I am a millionaire." Before you say well a million dollars doesn't make you rich, allow me to retort by saying, to those that aren't anywhere close to making a million, it is symbolic of a milestone reached.

    So begin here. What did it feel like the first day you woke up and knew that you weren't dreaming? You could look into your account and see a solid 7 figures and every penny was yours.

    What do you think when your out in public and you see the typical arrogant asshole in his luxury car acting as if he owned the world knowing full well that this guy punches a clock somewhere and you don't have to?

    Do your friends treat you differently?

    Do you buy more elaborate gifts now?

    Buying the dream house or car, the places you travel now and how your life has changed in general.

    Are class reunions better than ever now? Elaborate. Break it down. Give up the goods. Spill the beans. We want to know


  2. MikeC
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  3. Rain
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    Being a millionaire doesn't necessarily mean having a million dollars in the bank, nor does it mean that you are financially free enough to not work. Just thought that should be noted.
  4. Yussef
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    Yussef 90 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    True. So let me clarify. If you are a liquid millionaire then I am speaking to you. But anyone that feels wealthy enough to chime in is welcomed I am not trying to discount anyone's accomplishments. I am sure the guy with say 850k at his disposal feels close enough to the guy with 1m that we could get a good answer from him/her. Is that fair enough?
  5. Yussef
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    Yussef 90 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Yeah I have talked with this dude on twitter. Jay is a nut I have one of his books and he tells some wild stories. But I want some real time feedback here, something us hungry forum guys can chew on. Something that will keep me up at night thinking "damn is that what it really feels like?" That's what I am looking for. That WOW moment. Maybe I am reaching too much but I had to try.
  6. townhaus
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    townhaus 10 kph Read The Millionaire Fastlane

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    I have no idea as i havn't experienced it, but i honestly believe that happiness/mood is mean-reverting. When things have been going well/bad for me, the difference in feeling is always fleeting. Maybe youll feel awesome when you see the $1m in the bank if thats the goal, but thats an event and the euphoria will only last so long.

    It might be a bit disappointing if you have the vision that you will feel remarkably different to how you feel now. Id love to learn that i'm wrong though :p

    I remember thinking the same when i saw the question somewhere "What does it feel like to be married?" again, i have no idea/experience but i imagine not much different.

    Perhaps im just a nihilist lol
  7. Yussef
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    Yussef 90 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    I agree. I realize rich guys have bad and average days too. But I want to know about THAT day. Like I know that someone that wins a 200 million dollar lottery will never feel the rush they felt the moment they realized that they had the winning ticket..but not many will ever experience that moment. The same goes for that first round draft pick and so on. I know the money is the result of a much bigger process but maybe if enough of us hear what it actually feels like to cross the finish line then the purpose of the marathon will make better sense. For MJ it was approaching the guy in the Lambo.

    Who knows what may spark that fire in someone? We are all different and maybe I will get chewed out for saying this but...sometime the result is a little more sexier than the process. But I hope that doesn't mean if your motivated by the result it automatically means your on the wrong track, especially if your willing to commit to getting there. The imagination is a powerful tool, and if one can see him/herself reliving your day that might be the catalyst for his journey.
  8. Stayer
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    Not a millionare, but I think I can answer your question. A million in the bank account is just a number. The feelings you'll experience come from the things you could to do with the money. Also when you get past a certain amount it doesn't really matter how much money you've got. I don't think a million mark will make me any happier emotionally, perhaps, it will allow me to buy BIGGER things without worry.

    What I remember most is that moment - I got it! Than the worldly pleasures followed - you can fly home in 2 hours instead of taking an overnight train, you can go grocery shopping without looking at the product prices, you can go to any restaurant without worrying of the bill, fill up your car with a full tank and don't worry about parking tickets.

    The Pursuit of Happyness with Will Smith pretty much describes that feeling. Even though he didn't become millionaire, he received the opportunity to enjoy things he couldn't afford before.
  9. Whole Paradigm
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    It feels like all your bills are paid. You can buy that outfit you like. Travel where you want when you want. Keep the family healthy and happy and so on and so forth. As long as your not an idiot and you understand that you still need to live within your means.
  10. Yussef
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    Yussef 90 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Ah yes. Finally. Thank you brave soul. Let me ask a provocative question if I may. When many people of wealth say that 1, 10 or even 20 million is "just a number" isn't the same true for $10 dollars, or even -$10 for that matter? But I think we can agree that the former and latter numbers symbolize two totally different worlds of existence. If a millionaire woke up tomorrow to find only $10 dollars where only a day before there had been millions he would probably for an instant panic at the thought of his lifestyle change. If just for an instant before the error was corrected he had to ponder what life would be like with only $10 in his account that feeling would stay with him for years to come. Thanks a million.
  11. Yussef
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    Yussef 90 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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  12. Stayer
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    I insist that it is just the number. Even in your example, the millionaire would nearly had heart attack because of the lifestyle change not how much money he would have. If he could support the same lifestyle with $10 in the bank account, it wouldn't be such a problem.

    When I said 'just a number' I meant that you wouldn't be much more happier if you've got 500k right now or full 1m in future. After a certain amount it doesn't really matter, apart from the fact that you get bigger income from interest rates on large sum and can afford to make larger purchases.
  13. Lights
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    I have over 10 k in savings now, but not close to the millions. I had 0 dollars last yr, this time. It wouldn't make me happy. I'm not a millionaire right now.

    Oh, the blasphemy. No, I need fame too. I would sell my millions for fame in a heartbeat. (I'm working on that as well, and my fastlane route. Which one comes first? No doubt fame...) They work hand in hand though, being a millionaire and fame, so it's like holy water and prayers. I call this my side job, and my fastlane my dayjob.

    But fame, when you walk into the room, people can be an awe. If I am worth 1 million, and a guy next to me has 100 million. Who will get the better treatment? Me, duh. He would be another guy in the eyes of society, but I could be material of pop icon. Who is more fittin' for fame then me?

    I had this guy at work telling me (2 yrs ago) that I was not a human being, and that I was a a mythical being. He was like, "you're just my imagination", not sure if he on "something", but I liked it. That doesn't happen everyday does it?

    I plan on facebooking my friends from the past when I reach fame (REGARDLESS on how I achieved it). My childhood best friend even told her mother that I will get famous (I was fat, acned, ugly 12 yr old), I didn't know that until her mother told me.

    The things I want, cost me less than 15 k. That's all I want. I don't need a vehicle, I don't need to owe a home, I don't need material possessions. I don't have those things either.. and I am okay lol. I need something more than that.

    Financial security is priceless though, that's where money comes into the picture. That's why I am here, for financial security.. I would still be frugal as ever. I shop at goodwill only, since I don't want to break my bank. I only buy discounted groceries, if I have too.... frugality isn't making me less happy.

    Earlier this morning I was thinking, if I was a millionaire what would I buy. Plastic surgery no doubt.

    I still splurge on soy milk because that makes me happy sometimes.

    ----------------------
    this is me, so this doesn't answer your question, obviously
  14. Whole Paradigm
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    Lights,


    How old are you?
  15. Yussef
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    I can see how that may be true for some. Here is a really quick story. My dad and I live in different states so we talk a lot by phone and he suffers from several health conditions confining him to his home most of the time. My dad is an ex marine who has always been deeply into the church since I have known him, and I only add that because I can see how that shapes his thought process to a degree.

    Case and point. We talk often and one of his favorite topics is when I tell him about anything new or exciting that has happened with my business or the rental properties. He can go on for hours dropping one business cliche after another and I just listen and give him more because I know he enjoys feeling a part of something. But...every once in a while he says that one magic thing that really gets me under my collar and I usually end the conversation tactfully before I say the wrong thing.

    That one thing he says is "Son, I had an opportunity to be a millionaire but it wasn't worth me selling my soul." Selling your soul??? There is a whole narrative behind why he says this but I will spare you the details suffice it to say he has told me the story more times than I care to remember, along with how he owned a rolls royce in the 70s. I love my dad dearly but my dad is a hoarder and the result of slow lane thinking. He lives in what used to be a school house that he had the idea of converting into a mansion when he purchased it. That was over 20 years ago and the only thing he has managed to do is fill up every room with cases of things he gets duped into buying from the flea market. Shit is everywhere. The building was in bad shape when he bought it, now it's in terrible shape. He and his wife often times blow money they need for bills on things at the flea market that are unbelievable and he refuses to sell anything. They even almost lost their home recently because of 12k owed to a payday lender.

    My dad represents an extreme example of how many people feel toward wealth. Their world can be crumbling around them yet they run to borrow money at ridiculous interest rates and still feel that the desire to acquire wealth is somehow evil, but they never realize that those with wealth are controlling their quality of life.

    In my line of work I see the difference in those who have prepared financially for their golden years and those that didn't. Those that did usually have family members that come into my office seeking the best available options. Those that did not, have family members call that are stressed to the point of tears.They are usually frustrated and feel overwhelmed by their inability to afford their loved one the care they deserve. They are praying for a miracle that there is at least one option available to help assist them with the financial burden of caring for their loved one. I don't want my daughter to be put in that situation. Nursing homes on average cost from $2700-5000 per month. Home Care services can cost you $400 dollars per week for an aide to come and provide care for 20 hours per week.

    This is just one more reason the amount of wealth I amass is important to me. It's about access to options.

    I love this saying: "Those who control the diameter of your thinking, control the circumference of your actions"

    THE BOX IS NOT BIG ENOUGH TO THINK IN.
  16. Lights
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    But I know what drives my soul.
  17. Lights
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    I don't understand why people think wealth is evil. Makes no sense.

    People are evil, wealth is just a tool to leverage it.

    Satan isn't evil, he's a gate keeper, he welcomes you with open arms lovingly.
  18. Hambone
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    You've built fame up to such a high level in your mind, that no level of actualization will ever truly satisfy your expectations.

    Btw, chasing fame is a fools errand. If you desire fame, then chase excellence. Excellence in a chosen field will bring lasting fame.

    Keep in mind, without the proper psychology, fame will crush you. There is a reason so many famous people kill themselves or destroy themselves with drugs.

    Seek excellence, and you will have a safe haven for your ego when the glory of being famous surprises you with it's lack of significance.

    Good luck in your journey, my friend.


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  19. Yussef
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    I am guessing that was for Lights? Good reply
  20. Yussef
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    I am waiting on PatrickP to chime in:hl: and hopefully if we get lucky MJ:hl:
  21. Lights
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    Thanks.

    I don't want to go further discussing about fame though, since this was just to help the OP find out what if it feels like to be a millionaire for me.

    I'm not questioning it for myself, and anymore rambling will stamp me with a "troll".

    I don't know, never tried a drug in my life, I think it's a waste of time to be honest.
  22. andviv
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    I have never had $1MM cash.

    I was worth a little bit more than $1MM for some time, before my RE deals crashed big time.

    Just like in the Cashflow board game, one deal put me there, although temporarily.

    For a few years I was doing OK with RE deals. Basically, SFH that I would buy and sell, just like a few thousand of others during the RE boom.

    At some point I realized I was not providing value and went for a different type of deal.

    At that time, I worked out a deal that was very interesting.

    It was a house sitting on a huge piece of land (well, huge for the area it was... 7.5 acres).

    At the time builders were desperate for land.

    And I got my hands on such property.

    Secured the deal (cost me like $50K to get it under control).

    Worked the paperwork to legally split it in 7 1-acre lots, or 14 .5-acre lots.

    And then, at the same time, found a buyer.

    The property was worth around $350K (it was an ugly house).

    I negotiated a deal with the buyers, this building company that had a plan for a small residential community. They agreed to buy all lots for $1.4MM.

    Contract was signed.

    Financing was being arraigned.

    The next morning, after signing the deal, it just hit me.

    I had just made $1MM in one deal.

    Wow.

    I was shocked.

    I smiled all day long. And it was the same for the next couple of weeks.

    Suddenly, stress settled in. I was worried cause things were taking longer than expected.

    However, in my mind, I felt a lot of excitement. And pride. I had reached a great goal.

    The world was mine to have.

    For 3 or 4 weeks, I was a paper millionaire.

    The dream ended when the financing institution came down crashing. The lending market tightened and then simply disappeared, in a matter of what seemed like two days.

    And there I was, with those $50K lost. No buyers in sight. And then all started to go wrong. Renters stopped paying rent and some damaged the properties.

    Cash disappeared very quickly.

    Lines of credits were closing very fast.

    Before I knew it, I was insolvent.

    The dream became a nightmare. I had put all my eggs in this basket, and thought I had it under control. Leverage, the same thing that had made me a paper millionaire, took me down very fast.

    But how I felt then is another story and not the topic of this thread.

    So yeah, it was cool, exciting and scary to think you are worth $1MM.

    There were a lot of lessons learned, but I can tell you that:

    I simply stop caring about prices for any restaurant

    I started thinking a lot about how to replicate this 'success' to keep growing the business (I admit it, I was having a blast doing what I was doing)

    I started to think how to help others, especially close family

    I was scared... what if I lose everything? who will I be if I am poor? Will people still like me? (and you will find out, most won't :D)

    That is all I can think of for now...
  23. yahdmon
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    Thanks for posting this -- it is a very enlightening and informative read.

    I do not have a million dollars right now/yet; in fact far from it but my thoughts are as though I was a millionaire and that makes me feel very rich.

    For me a million dollars in the bank just means being able to do my dreams and visions, launch my entities and help people who have demonstrated they are worthy of my time and finances. It will feel like being on vacation, working on my entities, and never having to go back to work. That is what I am striving for -- I want to make the flip.

    I am thrilled about where I am now because to give a thousand dollars to someone in need is no big deal today and just a little over a year ago I had nothing, much less to even begin to give one thousand bucks and as it turned out, it was all a plan.

    You see, for me to get where I am now I had to trade (lose) all that I had and today (not literally) I will get that back and more.

    I used to be impressed and dreamed of riches and fame. Today it is not a motivation.

    I know what to do now and as long as I do it and keep doing what got me here I will get my dream -- guranteed!

    In fact, I am trying my hardest to avoid the fame that is sure to come but as someone said earlier, if you strive for exellence then wealth will come if you don't quit -- so now I am happy shouting from the bushes because I have no desire to be recognized or be known but I know after a while I will not be able to hide anymore.

    To sum it up, as I perceive it, (I may be wrong) one is ALREADY rich, millionaire or otherwise when they finally do see all those zeros behind the first digit.

    My heart goes out to those who are not millionaires already in their mind set and spirit when it does come.

    If nothing else, I am very thankful that I am rich in heart and spirit now, and as a result I can take this pitch... then I will hit it out of the park instead of being destroyed by it or worse, miss the chance to spank that ball to high heavens.

    I will show you... watch and see soon.
  24. Yussef
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    Aha. I found an article entitled 10 things millionaires won't tell you, which explains a little why none described what it felt like to become one.

    Frugal Tip Monday-10 Things Millionaires Won't Tell You

    I just want to be brave and say something about what Millionaire Fastlane brought to light for me.

    In chapter 20 when MJ discusses "the best passive income venue in existence" I had to stop reading for a few days to figure out what my number was for retirement. I am pleased to announce that that number is 6 million dollars. If I receive a 5% return that means I have $300,000 annually to live on. $25,000 per month , $5,769.23 per week and $824 per day to take care of my needs, without touching any of my principle.

    I realize that 6 million is no walk in the park but I think it's reachable. But of course that's not where I would stop it would just be nice to know I could if I wanted too:smx9:
  25. Hambone
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    That article is junk.

    At least the top 10 list is...the rebuttal at the bottom of the article is decent.

    My favorite line is:
    "Also, high-income earners pay Social Security tax only on their first $106,800 of income"

    Are they kidding? This is now an example of 'the rich' avoiding taxes??? Do they understand that Social Security isn't meant to be a tax, but was created to provide security for you when you're of retirement age?

    Social Security is a joke, and now it's being painted as some kind of tax loophole for the rich? Gimme a break!

    Ok, sorry for the tangent. Back on topic.

    I get the feeling a lot of the examples in that list apply more to the millionaire next door, as opposed to fastlane. Frugality is a next door millionaire type thing...not to be confused with living within ones means.


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