Describe what being a "Millionaire" feels like.

[Greg R]

Enjoy.

http://wallstreetplayboys.com/money-changes-your-life/

 

[Longinus]

very unique take sir. However on the flipside if we fast forwarded 500-1000 years would it not be different? or Indifferent?

Chances are that it will be better. People always tend to think that the current time is bad: terror, crisis, wars,... But we have no clue what most people had to deal with in the past. Most middle ages people were poorer than the poorest people today. Not so long ago (100 years), people in Western-Europe attacked each other with freaking bayonets, exterminated people on a industrial scale (70 years ago) or threatened to nuke the entire world (25 years ago).

There was never a better time to live as today, ever in history of mankind. Today technology advances so fast (VR, AI, drones, biotech, ...) that it's only getting better.

 

[MRSSuply]

But what it has done for me is if I awake in the middle of the night and think about something I have to pay such as property taxes, or if the car breaks down you just think oh thank you God for letting me be so fortunate to have financial success and have plenty of money in the bank. And I roll back over and go to sleep.

My grandfather has told me several times that while money can't buy happiness, the lack of money goes a long way towards preventing it. I can see you're speaking to the same principle here. We're not millionaires yet, but for me, this is a powerful incentive to strive towards. Now if only I can remember it when MRSupply needs evenings to work on business...

 

[NanoDrake]

. I wear a $450 watch.

Man, are you crazy????? 450 dollarsss???

 

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[biophase]

Would you be considered a millionaire to have a business asset that profits north of $250K/Year and no debts or liabilities? Assuming a multiplier of 5?

Maybe. Assuming you can get 5x for it. But if you had a business making $250k/year you wouldn’t even be keeping score that low.

 

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[townhaus]

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

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

 

[Yussef]

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

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

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.

 

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[Lights]

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

 

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[Lights]

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.

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.

 

[Hambone]

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.


Sent from my iPhone using Tapatalk

 

[andviv]

Ah, found it. "Ignore".

 

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[Niptuck MD]

You nor anyone deserve the best.How can you say you deserve better than others?Do you consider yourself on a higher level than others and that's why you feel like you deserve the best there is?

Not a great mindset to have.You don't deserve anything, you're not on a higher pedestal than others, and if this is your mindset than I'd argue you're lower level than the "inferior people".

I disagree. Lets leave it at that. I respect your stance however.

 

[Mr.Chaos]

Far from a million, very far, but I've made dramatic increases over the past years. Within the last 4 years:

went about 10x on my income
car note went up by about 20x
expenses went up by about 10x
rent is about to go up next month by about 10x

The early point that I am seeing (as I read tmfl for the 3rd time, 2nd time on audible - s/o @MJ DeMarco) is that I have lots of cool stuff now but it feels not so different because I still have income + bills, both are just larger values now.

@Yussef "Do friends treat me differently" - to be honest, not really. But the girls seem to be more friendly, maybe its just my confidence increase.

@Yussef "Buying the dream house or car, the places you travel now and how your life has changed in general."
- I buy more stuff I want, and actually save more than ever. But its a bit scary thinking about if I make a mistake, I'd have some serious bills to pay.

Icing on the cake, what someone said earlier in the thread, the mental gains I have made make me feel rich. It becomes more evident each day that money and happiness aren't as strongly correlated as I thought several years ago..

However I am aware I cannot use mental health to pay mortgage- so, my ambition to reach several Ms fairly quickly has not lessened, only intensified.

Awesome!! Good to hear bro!!

 

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[Greg R]

This article sounds like it was written by somebody who watches too many movies.

Building and creating wealth doesn't have to result in self destructive behavior and the loss of relationships in regards to your family and friends. Many successful people I've encountered and known are rich in money and rich in relationships, they understand money is one part of the equation of wealth.

Besides, what's the point of wealth if you don't have loved ones to share it with? That's just as worse as being broke, if not more.

If you asked someone what it's like being "middle class" or "poor" you are going to get 100 different answers. Just look at this thread. The quality of the answers begin with the quality of the question.

Good luck.

 

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[Greg R]

An American investment banker...

You beat me! One of my favorites. +REP

 

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[GMSI7D]

This is rubbish thinking. we must not put ourselves in an inferior persons environment even if it is in our mind. WE MUST ALWAYS STRIVE TO BE IN BETTER ENVIRONMENTS surrounded by the best and ONLY THE BEST. I am here for only a finite time on earth I DESERVE THE BEST And I will own the best.

what i mean is that we are not necessary happy with millions in the bank

let me explain

think about that :

sometimes, like everrybody you might say that your are not that happy or life is useless or whatever negative thinking

we all do that , even for just a few seconds in the day.




--> but imagine that a man, let's say a frenchman from the year 1200 just arrived from a time travel ( in a back to the future movie way )





he looks at our current lifestyle.

he is in awe before our technology that seems like magic to him, our health ( people like him died at 30...) , our wealth

and so on , you name it

so after such a sight of wealth , he sees that you are unhappy !!!

what do you think he will say ?


i promise you that he will say something like :

" man are you kidding me ? you have wealth like i never thought could exist and you are unhappy ! are you completely insane ? "






so what do i mean here ?

wealth won't make us happy because it can't buy happiness, it expands choice, it buys freedom but it can't guarantee that we are happy


it can't buy our state of mind

 

[EvanOkanagan]

very unique take sir. However on the flipside if we fast forwarded 500-1000 years would it not be different? or Indifferent?

If technology continues to advance at an exponential rate, wealth will most definitely be able to buy us happiness in 500-1000 years

 

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[MidwestLandlord]

what i mean is that we are not necessary happy with millions in the bank

let me explain

think about that :

sometimes, like everrybody you might say that your are not that happy or life is useless or whatever negative thinking

we all do that , even for just a few seconds in the day.




--> but imagine that a man, let's say a frenchman from the year 1200 just arrived from a time travel ( in a back to the future movie way )

View attachment 13766



he looks at our current lifestyle.

he is in awe before our technology that seems like magic to him, our health ( people like him died at 30...) , our wealth

and so on , you name it

so after such a sight of wealth , he sees that you are unhappy !!!

what do you think he will say ?


i promise you that he will say something like :

" man are you kidding me ? you have wealth like i never thought could exist and you are unhappy ! are you completely insane ? "

View attachment 13767




so what do i mean here ?

wealth won't make us happy because it can't buy happiness, it expands choice, it buys freedom but it can't guarantee that we are happy


it can't buy our state of mind

Fallacy of relative privation.

I agree money can't buy happiness though.

 

[TheSunpirate]

A bit of a long post..

Studies on happiness have been plentiful and I believe have answered a lot of the questions posted. There are two parts to it what is considered happiness, assessed happiness or experiential. In one case, happiness is measured based on how you perceive your past, in which case the more money you have the higher your assessment and perceived value etc. However when it came to experiential happiness, which is based on your daily experiences, they found that once someone earned a bit more then the average that it its reached peak (there is a great ted talk on this) . So in other words feeling happiness from your everyday life reaches its relative peak once you get to above 60k a year or so.

Wealth is relative, and in most cases is assessed based on your neighbor, or to be more precise (on your valued peers). So if you are earning more then them you seem to feel relatively wealthy. Imagine being in war where no one has much and it becomes easier to see.

Beyond that, the idea of making billions seems to be a need created out of a need for severe self importance, insecurity and so on. That is not to say that all self made billionaires are driven by insecurity in their endeavors. Which means that you probably have at least two versions occurring, the google type, love their job, and enjoy process, need based and so forth. And the other kind..

These psych measurements however suffer from who they measure, they are based on the "slowlaners" slave intrinsic value model, "my cell has better bars then yours" and so on.

Mj's approach is an entirely different model, a vertical shift. In my opinion when you shift out of the slave game, your pleasure is of a higher order, its almost necessary to leave the whole comparison thing behind, since you become a need fulfilling person rather then a money- self importance driving person. It is conquering our own fears which bring us the greatest pleasure, and it is the highest model of narcissism (a term given a bad rap), which basically means that you face your own illusions and become an individual. Which then translates to being someone who can offer to others and become a beneficial part of society.

Our mind creates fear under the impression that the fear is about the result of the outcome, but if we double check a bit, it actually is a fear of our the outcome of our actions, not of the situation. Not to get too deep, but I double check my actual intentions all the time, rather then the ones I believe I am working on.

I spent 8 hours browsing new business ideas last night, but still no inspiration for need solution showed up. Part of that is that I still have the "make money" paradigm occurring, which is a double edge sword since it is driven by low self value, which also holds you back from acting outwardly. Most people I know that have overcome this challenge use a subconscious hate of "me against others idea" to fuel the journey. Hence they perceive a war at hand, and go out to fight the world to earn their millions. This is a cyclical model though, because they end up spending all of their money in trying to prove their superiority.

The Mj model is different, since it is driven by providing the need aspect, it can only work if process is implemented, which makes it superior in every way. Its a selfless model that is selfish. Process is the key to all success, being selfless in your examinations of it allows for better decisions. It allows us to not take things personally and thus we can make the subtle changes that are always required along the way...

As my favorite author once said "mold yourself to your purpose, not the world"

 

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[Sully1994]

Lights,


How old are you?

Either master troll, or 14. Either way , I was very entertained

 

[guy marshall]

Among other things... I have raised money at an 8 figure valuation... I own a majority of that company which makes me a "paper multi-millionaire".

I drive a cash Chevy. My wife drives a cash Chevy. We live in a nice home that most people with a reasonable job can afford. We vacation on points. We eat at Mexican restaurants for $25. I shop around for insurance and other monthly crap. I debate about buying a boat or if it’s not worth the money. I play golf at Clubcorp facilities which are middle of the road. I’m looking at a used Lexus hybrid to save money on gas. I wear $450 suits. I wear a $450 watch. I’m comfortable. I don't have to worry about money. I’m excited by what I do. I’m excited about the future.

In contrast, I know a guy with a good job. A brand new everything. A 6000 square foot home. Owns nothing that pays him. Has money problems. He looks like a millionaire. He isn’t. Every time I talk to him the f*cking sky is falling.

The word millionaire means NOTHING.

yeah right !

 

[guy marshall]

Why do you think that is not true?

i do think its true.. i don't doubt it...its a mutual joke ...

 

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[Rain]

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.

 

[Yussef]

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.

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?

 

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[Yussef]

I recommend this:

What it feels like to be Rich Altucher Confidential

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.

 

[Yussef]

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.

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.

 

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[Yussef]

This guy in this link didn't "earn" his money, but I feel he did a very good job capturing what wealth did for his life. Check it out.

What does it feel like to be financially rich? - Quora

 

[Stayer]

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.

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.

 

[Lights]

Lights,


How old are you?

20

But I know what drives my soul.

 

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[Yussef]

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.


Sent from my iPhone using Tapatalk

I am guessing that was for Lights? Good reply

 

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