An AMAZING thing happened to my INCOME when I traded-in my rusty Honda for a Viper

[Ninjakid]

Facebook is really Fakebook. It's an outlet that ordinary people can use to broadcast and brag. And they do that all the time.

Have you actually noticed the discrepancy between the people you know and meet, compared to the same types of people and their FB postings? It's as if online they appear to have such an amaaaazing life, and everything is simply awesome all the time? Seriously, what BS.

I hardly ever go on FB anymore for personal use, logging in at best once every 1-2 months. It's one of the biggest time wasting activities you can engage in, aside from watching TV. The only times I go on FB are to advertise and monitor my ad spend, click through rates, conversions, etc, and I have a separate account just for that purpose. It's a business tool for me.

I love facebook. But for a different reason than most people.

I think it's an impressive business. Capitalizing off the narcissism of society and making billions off of it.. that was genius Mr. Zuckerberg.

The people who are addicted to facebook are usually the people who work 9-5 jobs, and go out only on the weekends to take pictures and give the illusion to people they don't know about how great their life is.

The people who create sites like facebook, or instagram probably work on their project most weekends, then collect the dollars and actually live a decent and exciting life.

 

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[craig1928]

Mark replies "Well, have you heard of the company Johnson & Johnson?"

http://en.wikipedia.org/wiki/The_One_Percent_(film)

same guy maybe

 

[Timbonitus]

+ 1

I just want the basics: studio apartment, motorbike, decent laptop, well fitted clothes, gym membership.... yea, thats basically it, lol.

I could care less about status.

Sent from my GT-I8160 using Tapatalk 2

 

[FeaRxUnLeAsHeD]

It's so strange... I read the first few sentences and thought I had the message to this thread figured out, when in fact I had it backwards.

When I read the lil bow wow part, I thought to myself "I get it!" - I thought lil bow wow, being completely broke, was still able to have people believe he was rich, and that the message was "How you present yourself through the clothes you wear and the car you drive is managing your self image, which will determine how people see you in the world" - I thought this was going to be one of those "Fake it til you make it things" like lil bow wow being broke but driving a Lamborghini Murci..

The truth to that is, the only people who see the shiny Rolex, the Lambo, the house, the yacht, etc as symbols of success, are people who are really confused, or people who are really shallow. Having all the flashy objects does not make you successful. Not all successful people have the flashy shit. However, all successful people *CAN* have that shit, if they even care to have it.. or if they even want it.

"Determine your value by looking at what's actually valuable-What you make, what you provide for others, what you do for the world. That is the way your value is defined, not by what you spend and consume." was poetically touching.

EDIT: sorry for the bump. Didn't realize the last post date

 

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[RHL]

I just want the basics: studio apartment, motorbike, decent laptop, well fitted clothes, gym membership.... yea, thats basically it, lol.
I could care less about status.

And I'll give you a great example of why this is the right thing to do. A friend of mine got a line on importing a new product, from Europe actually. Just tickled him right. He got 40 to start, wondered what might happen.

Sold them like lightning, just hustling on Facebook and to family members. Everybody is becoming an ambassador.

He went back to the MFG with a $25K order. They were surprised, they hadn't done one that big before for anyone, let alone a foreigner.

If he repeats his success with the 40 units with this new allotment, at the same margin, he stands to gross nearly $100K, the price of a decent condition, moderate miles, 04-06 Gallardo.

Or he could have bought a 318i and eaten $5K of depreciation with the same $25K.

So $20K or $100K? Your choice.

Don't buy stuff that eats your money.

 

[tudor]

Back in 2008 I had what I thought was a good, stable job. I saved some cash and used it as a downpayment for a town house, around 1,200 sq. ft. I thought I was going to be happy, since that was one of my biggest goals in life at the time.

But I wasn't.

So I went on to buy a Lexus LS430. Although it wasn't new, it set me back quite a bit. Gas price went up that year, and my salary went down because I entered a different tax bracket.

For some reason, after achieving two of the things I wanted most, I was beyond miserable. Less than a year later I got rid of the Lexus. Selling it felt better than buying it. I went back to driving a beat up Corolla and that was more than fine.

Later on I read a book by Eckhart Tolle; one paragraph reminded me of my experience: "when our egos drive us to achieve goals, there are two ways of becoming unhappy. One way is to never reach those goals, and the other way is to reach them." (I apologize if I didn't quote it correctly, but I hope it makes sense).

Thanks to everyone who contributed to this thread; you guys are awesome. This is my first day on this forum and I am absolutely loving it. Now I'll go back to reading the Millionaire Fastlane .

T.

 

[MajeStyle]

Subbed, very interesting thread.

I'd like to play the devil's advocate here and post you these articles:

How spending 160k on clothes made Neil Patel 600K+:
http://www.quicksprout.com/2014/12/10/how-spending-162301-42-on-clothes-made-me-692500/
How a Ferrari made him 1m+:
http://www.quicksprout.com/2014/12/15/how-a-ferrari-made-me-a-million-bucks/

Plot twist, you need a very good ongoing business in order to make this things have sense

 

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[mosdef]

i still live at home, so i can put this money into my just started business instead of rent. And my parents love it.

 

[happybhoy]

I drive a 18 year old, £200 car. Most people would be embarrassed driving it around and opt for a car on finance or maybe save up for a few months and buy an OK 10 year old car.
Instead of being embarrassed I drive it with pride knowing that I payed for it upfront without having to save up. Your car is your status symbol and mine is a symbol of the sacrifice I'm making to one day have the successful business I crave.
To me the feeling that one day its gonna turn into a range rover sport beats the shallow feeling of having a car you can't really afford.

 

[mosdef]

I drive a 18 year old, £200 car. Most people would be embarrassed driving it around and opt for a car on finance or maybe save up for a few months and buy an OK 10 year old car.
Instead of being embarrassed I drive it with pride knowing that I payed for it upfront without having to save up. Your car is your status symbol and mine is a symbol of the sacrifice I'm making to one day have the successful business I crave.
To me the feeling that one day its gonna turn into a range rover sport beats the shallow feeling of having a car you can't really afford.

its cool to rock old cars!

 

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[jdstlouis]

I remember being a young 1st Lt in my tiny apartment in a dumpy midwestern city.

Then I'd come back home to my shitty apartment off a service road of I-44 and go right back to being miserable.
\

 

[MJ DeMarco]

EDIT: sorry for the bump. Didn't realize the last post date

Nothing wrong with bumping/commenting on a Gold thread.

Subbed, very interesting thread.

I'd like to play the devil's advocate here and post you these articles:

How spending 160k on clothes made Neil Patel 600K+:
http://www.quicksprout.com/2014/12/10/how-spending-162301-42-on-clothes-made-me-692500/
How a Ferrari made him 1m+:
http://www.quicksprout.com/2014/12/15/how-a-ferrari-made-me-a-million-bucks/

Plot twist, you need a very good ongoing business in order to make this things have sense

Problem is this will be taken as an excuse to buy shit wannabes can't afford. These purchases did not make his success... they added to his existing success. Lifestyle marketing is a tactic. If I was in the business of needing to impress clients for business, large contracts, yea, I might be inclined to buy stuff just so I can look a part.

 

[RHL]

These purchases did not make his success... they added to his existing success.

This is what so many people miss. The reality TV or Instagram fame didn't make Dan Brazilian or Paris Hilton their money. But once you have money, it can be a way to add to it.

 

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[Don Dano]

All my colleague's have chosen a "expensive" lease car. I just take public transportation, because in my country that is actually faster and more efficiënt. I dont care about artificial status or impressing other people.

No need to spend my time waiting in traffic and most beautiful, the entire lease budget is paid to me in cash. I invest all of it in my business.

 

[RoadTrip]

All my colleague's have chosen a "expensive" lease car. I just take public transportation, because in my country that is actually faster and more efficiënt. I dont care about artificial status or impressing other people.

No need to spend my time waiting in traffic and most beautiful, the entire lease budget is paid to me in cash. I invest all of it in my business.

Funny, I'm doing the exact same thing as you (living in NL too). Declined the lease car and taking public transport to avoid traffic. And time is not wasted since I can read and work in the train.

Still not moving fast enough with my fastlane through...But working hard on it!

 

[mastasef]

It can be hard to resist temptation and fall into materialistic things but i have an approach that can combine the best of both worlds .... Let's say you want some luxury car ... The goal here is to buy it at the cheapest price where you can find it ( used obv.) use it sometime and resale with a profit or breakeven and start all over... I Know this works with cars but you can find value in other places as well

 

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[GuestUser140]

The aim of the wise is not to secure pleasure, but to avoid pain. - Aristotle

Not having to work again > Lamborghini.

Still, is there honour in frugality after you've made your number? Life's short, scratch the itch, but freedom first.

 

[Jambla]

A friend of mine, 28 at the time and living with his parents managed to save $40,000 over his life time. He was on $40,000 a year. What did he spend his money on? A down payment on a house? No he bought an Audi with leather interior. Want to know the irony? He is a financial adviser and he still lives with his parents!

We know a couple of that are getting married this year, she has turned into bridezilla and has to have the 'perfect' wedding, she is spending ridiculous amount of money on the wedding. They have just got back from a trip to New York, they blocked the father of the grooms family on facebook because they didn't want them to know they were going to New York. Why? Because he is giving them money for the wedding. How shady is that?

 

[ChrisJTurner]

They have just got back from a trip to New York, they blocked the father of the grooms family on facebook because they didn't want them to know they were going to New York. Why? Because he is giving them money for the wedding. How shady is that?

If I had a friend like that, i`d delete and block his number for pulling that kinda shit.
Thats extremely shady!

You can tell a lot about a person by how they treat their family.

 

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[Sharko]

Anecdotal story:



One of my old friends called me the other day. He accidentally poured petrol (gasoline) into his car, an Audi A4 S-Line Diesel (FYI for non-Europeans, in Europe diesel passenger cars are quite common). He had to call out a specialist breakdown company to flush out the fuel tank and refuel the car. That cost £250 (about $420). Then the next day, his tenants at the property that he lives in complained that they saw rodents in the kitchen. A pest control company quoted him another £250 ($420) to deal with the problem and give a 3-months pest-free guarantee otherwise they'll fix any problems for free.

Problem is, he called me to ask to borrow the money because he said he didn't have that kind of money available at short notice. I was thinking, WTF??!! You're driving a pristine 4 year old Audi A4, wear designer clothes, own a Rolex watch, go on good holidays abroad a few times a year, go to the gym many times a week, regularly go to the tanning salons and have your teeth professionally whitened, and in all appearances you look the part of a successful person. But to find a few hundred bucks and you don't have that available??!!

I realise that many many people in the Western world live like this. When I was a poor kid, I used to wonder how they can afford all of this and how their lifestyle appeared to be amazing. Fast forward a few years, and I see it for what it really is... a SHAM. Of course if you spend all the money that you have, plus all the money that you can borrow off loans, bank overdrafts, multiple credit cards, and even equity release from your own property, then sooner or later you'll hit the ceiling which is the point where your outgoings exceed your available access to funds. Never mind the point where your outgoings exceed your income, as that was surpassed a long time ago when you started borrowing.

I'd have sympathy if he'd borrowed the money to invest in a calculated venture with good risks vs rewards ratios, but to blow the lot on consumerist nonsense to perpetuate a faked lifestyle is utterly insane. Much like you cannot borrow your way out of debt, neither can you spend your way to true wealth either.

Some of the richest people I've come across actually drive very ordinary but reliable cars. You only get to have a glimpse of how wealthy they are when you see the real stuff, like the values and incomes they have from their businesses and investments, the home(s) they own and more importantly how little they owe if any on those homes. But that's the thing... you almost never get to see that info. And because of that, many people are able to appear to have similar things but not the real deal of hidden income and assets to back that up.

THIS PERSON YOU DESCRIBED IS BASICALLY ME

 

[Jambla]

If I had a friend like that, i`d delete and block his number for pulling that kinda shit.
Thats extremely shady!

You can tell a lot about a person by how they treat their family.

Not a friend of mine thankfully, its some one that my girlfriend works with.

I shouldn't preach anyway, I am not exactly Warren Buffet. I have wasted a lot of money on hobbies in the past but at least I have always kept my integrity!

The more consumers the better for us , right?

 

[ChrisJTurner]

Not a friend of mine thankfully, its some one that my girlfriend works with.

I shouldn't preach anyway, I am not exactly Warren Buffet. I have wasted a lot of money on hobbies in the past but at least I have always kept my integrity!

The more consumers the better for us , right?

Yeah, I think to be a billionaire, you need to be exceptional at what you do and to be able to graft all your life at the thing that you are good at (in most cases)
I'm not saying that you are not exceptional but statistics will probably show that its unlikely.
However, there is a huge demand for things in the world of today, more than the rate of supply, so all you need to do is find that "thing" and your set.

I think as long as you are a good person, treat your fellow human well, forgive, work hard, make money, stay healthy and have fun.. I guess thats all you need.
No need for billions.
.. Leave that to the exceptional that want to work 16 hours a day for life.

 

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[Wisith]

Alright! In the spirit of this thread, here are some other hard-won tips that I've learned over the years:

* Unless you're going into a professional area (Law, Medicine, Dentistry, Scientific Research), college is a big BIG waste of time. Take it from the guy who eventually graduated from the equivalent of the 27th grade.

* Getting a PhD in anything unless you are Really Truly Amazing is also a huge waste of time. This from the guy with a MS in Genetics who was asked to stay for the PhD. Really anymore the graduate school system exists to have a pool of ultra skilled & ultra low cost workers (for the scientists) doing the grunt work for their professors who in turn are working for the universities....whose ultimate game is to get grant money. Follow the money! Plus the job prospects for science PhDs is abysmal. I have many good friends who were simply brilliant scientists and few if any are working primarily in a research capacity anymore. It's frankly very depressing.

You can still get a Master's degree but it should only be for a very specific thing (to develop a skill set, etc), and is definitely not FastLane.

* If you went to college, please forget giving money to Alumni associations. Again, it's a way to use social proof and your feelings to rape you for money. Where is that money going? To scholarships? Hah! No, it's going to fund the salaries of administrators, their staffs, etc...

* For the young guys: That person or persons whom you worry about impressing, or who feel the need to tell you "You're crazy," or "You'll never make it," or "That idea is dumb"....in about five to ten years they will be stuck in their own sidewalk or slowlane hell.

I saw it after graduating HS, after getting out of the Corps, after college (friends from college still living in Slow Lane hell), after medical school (young MDs with a shit ton of debt buying blingy cars and houses right out of residency and absolutely trapped in crappy situations because they have bills to pay..and their employers/groups know it and screw them mercilessly for it).

* Don't get married until you've gotten all of your wandering/playing out of you. Then get married with a nice, good, passionate(!) person who is someone you can absolutely trust. Someone who is brave as well, because as you get further along in life's journey's you don't want to be held back by Mr/Mrs Fraidy-Cat.

And marriage is GREAT! Extremely difficult at times but WORTH IT. Also, a great woman will force you to grow up and man up in ways that you never thought that you needed to. Don't believe everything that the guy at BoldandDetermined.com says about women. That's one man's opinion. (He's right about a lot though. )

* Admit nothing, deny everything, make counter-accusations, and demand proof.

* 99% of TV is a waste. Most of the Internet is a waste. Video games (though I love them) are an even bigger waste. They're all variations on a them: vapid & mindless distraction from how much your life sucks! If you're doing these things instead of doing something productive then you're dooming yourself to mediocrity, sloth, a life of NOTHINGNESS and soul-sucking emptiness!!

Listen, the most alive that I've ever been in my life? When I'm taking risks, pushing the envelope out there, being waaay out of my comfort zone. It's awesome, addicting, and you grow so very much. So get off your a$$! Do! Fail! Do again! Just don't die. Are you going to your grave saying, "I wish I woulda.."?

* While you're out there living your life, take care to do the things that are important to you. Even you young dudes don't have an infinite time on this Earth. Take it from a guy who's seen a lot of death and destruction....death comes for us all. Best that you've loved your loved ones, and really embraced life in the meantime.

Edit to add: and kids! When you're ready, you'll find that they're a joy and a pleasure. My kids and my wife are a big part of the motivation to be a better human being/Dad/Husband. When your 4 yo boy waxes rhapsodic about Spider Man and how he could totally crush Iron Man...that's pretty cool.

/soapbox

1,000 thumbs ups to this here! I'm not exactly a 27th grader, but spent a full decade chasing 2 master's degrees thinking it was going to make way to a high paying job. Huge waste of time, sure I learned some cool stuff on paper, but I don't recall any of them after the classes ended because I never used them.

My 2 closest friends who are the most financially successful never finished college, but are self taught. Like what I've read so far on the forum, they can hold amazing conversations. College doesn't guarantee anything except the slow lane.

I entered the job market in 2009-2010 after getting my BS. Some of my friends couldn't get jobs because they majored in Fine Arts and such...decided to go back for a master's to occupy their time and take out even more loan. The barista I talk to often at the Starbucks I set up shop to plan my Fast Lane project couldn't get a job in her field and she holds a History degree and owe a lot to Sallie Mae.

Sorry for the 1.5 year bump, but this really resonated with me.

Everything else said throughout the thread is also relate-able to myself and my peers. I have friends around my age (30) that fake the funk...lease entry level luxury cars or buy salvaged luxury cars and do bottle service at the clubs to talk to the hot girls, while making near min wage. One of them is in debt at around $30k from all his partying. After I read MJ's book, I preached the book to all of them, but they 'never got around to buying it'.

 

[MotiveInMotion]

Fantastic post. This is one of the reasons billionaires are so frugal. (Like you stated with Eric Schmidt)

I sometimes slip into wanting to spend part of my business successes on something cool, but I roll it back into the next marketing / inventory / investment that I'm currently working on.

I know that if Buffett drives a mini-van and lives in the same house for 30+ years, I should be a smidgen wiser than listening to impulse. He's also got 1 billion + in cash somewhere because he doesn't want to rely on others and the "kindness of strangers".

Thanks again for the reminder.

- Evan

 

[andviv]

Alright! In the spirit of this thread, here are some other hard-won tips that I've learned over the years:

* Unless you're going into a professional area (Law, Medicine, Dentistry, Scientific Research), college is a big BIG waste of time. Take it from the guy who eventually graduated from the equivalent of the 27th grade.

* Getting a PhD in anything unless you are Really Truly Amazing is also a huge waste of time. This from the guy with a MS in Genetics who was asked to stay for the PhD. Really anymore the graduate school system exists to have a pool of ultra skilled & ultra low cost workers (for the scientists) doing the grunt work for their professors who in turn are working for the universities....whose ultimate game is to get grant money. Follow the money! Plus the job prospects for science PhDs is abysmal. I have many good friends who were simply brilliant scientists and few if any are working primarily in a research capacity anymore. It's frankly very depressing.

You can still get a Master's degree but it should only be for a very specific thing (to develop a skill set, etc), and is definitely not FastLane.

* If you went to college, please forget giving money to Alumni associations. Again, it's a way to use social proof and your feelings to rape you for money. Where is that money going? To scholarships? Hah! No, it's going to fund the salaries of administrators, their staffs, etc...

* For the young guys: That person or persons whom you worry about impressing, or who feel the need to tell you "You're crazy," or "You'll never make it," or "That idea is dumb"....in about five to ten years they will be stuck in their own sidewalk or slowlane hell.

I saw it after graduating HS, after getting out of the Corps, after college (friends from college still living in Slow Lane hell), after medical school (young MDs with a shit ton of debt buying blingy cars and houses right out of residency and absolutely trapped in crappy situations because they have bills to pay..and their employers/groups know it and screw them mercilessly for it).

* Don't get married until you've gotten all of your wandering/playing out of you. Then get married with a nice, good, passionate(!) person who is someone you can absolutely trust. Someone who is brave as well, because as you get further along in life's journey's you don't want to be held back by Mr/Mrs Fraidy-Cat.

And marriage is GREAT! Extremely difficult at times but WORTH IT. Also, a great woman will force you to grow up and man up in ways that you never thought that you needed to. Don't believe everything that the guy at BoldandDetermined.com says about women. That's one man's opinion. (He's right about a lot though. )

* Admit nothing, deny everything, make counter-accusations, and demand proof.

* 99% of TV is a waste. Most of the Internet is a waste. Video games (though I love them) are an even bigger waste. They're all variations on a them: vapid & mindless distraction from how much your life sucks! If you're doing these things instead of doing something productive then you're dooming yourself to mediocrity, sloth, a life of NOTHINGNESS and soul-sucking emptiness!!

Listen, the most alive that I've ever been in my life? When I'm taking risks, pushing the envelope out there, being waaay out of my comfort zone. It's awesome, addicting, and you grow so very much. So get off your a$$! Do! Fail! Do again! Just don't die. Are you going to your grave saying, "I wish I woulda.."?

* While you're out there living your life, take care to do the things that are important to you. Even you young dudes don't have an infinite time on this Earth. Take it from a guy who's seen a lot of death and destruction....death comes for us all. Best that you've loved your loved ones, and really embraced life in the meantime.

Edit to add: and kids! When you're ready, you'll find that they're a joy and a pleasure. My kids and my wife are a big part of the motivation to be a better human being/Dad/Husband. When your 4 yo boy waxes rhapsodic about Spider Man and how he could totally crush Iron Man...that's pretty cool.

/soapbox

This is PURE GOLD right here. Rep transferred.

 

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[Sean Marshall]

One of the biggest barriers that you have to overcome is the sidewalk and slow-lane culture telling you you should feel like crap for not having the best phone, car, house, vacation, etc. you can afford. Every bit of success you get, it's crying out "Treat yourself NOW!" You can indulge NOW!" People need to recognize your success NOW!" Every cent you get, this mentality is just crying out for you to take it and consume-give it to someone else, because that is the only way that you can show your true value. For a long time, I felt mad that I had to conserve my resources while Mr. Welfare spent so freely doing all this fun stuff, and had all these cool toys. I was bitter about it until I realized the truth-My careful, production-focused spending wasn't something I had to suffer before I could reach success; it was actually a part of success.

Value and consumption are almost never tied together. Determine your value by looking at what's actually valuable-What you make, what you provide for others, what you do for the world. That is the way your value is defined, not by what you spend and consume.

Amazing!

It boils down to choice right?

To quote Oprah: "Do what you have to do, until you can do what you really want to do"

 

[keith4444]

Bump this one back up
It’s old but still gold!

 

[GuestUser3010h]

Reminds me of Mark Zuckerberg, the time he wore just a hoodie to ring the opening bell for NASDAQ, while everyone around him at Wall Street were all wearing $2000 suits. Lol.

 

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[The Abundant Man]

Back in 2008 I had what I thought was a good, stable job. I saved some cash and used it as a downpayment for a town house, around 1,200 sq. ft. I thought I was going to be happy, since that was one of my biggest goals in life at the time.

But I wasn't.

So I went on to buy a Lexus LS430. Although it wasn't new, it set me back quite a bit. Gas price went up that year, and my salary went down because I entered a different tax bracket.

For some reason, after achieving two of the things I wanted most, I was beyond miserable. Less than a year later I got rid of the Lexus. Selling it felt better than buying it. I went back to driving a beat up Corolla and that was more than fine.

Later on I read a book by Eckhart Tolle; one paragraph reminded me of my experience: "when our egos drive us to achieve goals, there are two ways of becoming unhappy. One way is to never reach those goals, and the other way is to reach them." (I apologize if I didn't quote it correctly, but I hope it makes sense).

Thanks to everyone who contributed to this thread; you guys are awesome. This is my first day on this forum and I am absolutely loving it. Now I'll go back to reading the Millionaire Fastlane .

T.

The book Psycho-cybernetics talks about this. The author noticed that his cosmetic surgery patients were still miserable even after they've had plastic surgery So he tried to figure a way to help them out. The books talks about the self-image and is a pioneer for visualizations and affirmations and why goal-setting is important.

 

[The_King]

Its because you bought the wrong car lol, I bought my Lamborghini Gallardo at age 26, last year and my life changed.