Describe what being a "Millionaire" feels like.

[Yussef]

Trying to get a friend to come on and share his story and feelings he has a pretty good story.

 

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[PatrickP]

I realized I was a millionaire one day while driving in the car with my wife. I told her and her reply was something like oh that's nice.

Really to me there wasn't a difference between being a 500K or 800K or millionaire. Now being a multimillionaire was 'cool' to think of for a few minutes but that was about all.

I used to get all my clothes at Walmart and now get some at Target. I now tip 20 - 25% minimum. I buy $25 gift cert for the guys who do the lawn maintenance, I give a few thousand a month in products to USA troops in Iraq and Afghanistan. I offer to pay for my nephews, nieces, sisters etc to come and visit. I splurged and got the injectors cleaned on my 2007 Honday Fit with 183,000 miles on it.

Besides those changes I don't think I have done much different.

 

[biophase]

I agree with 100% of what you said if you believe that to be your truth, but you started your post with "I want to start off and say that I'm not a millionaire and I don't really plan on being one" and that concerned me. I had to read further to get a better understanding but I respect and appreciate your input.

What I basically mean is that if I end up with $1M in the bank, then that means that somewhere along the way I did not do all the things I fully wanted to do due to money. However, if I am able to do everything that I want to do and still end up with $1M in the bank, then I'm fine with it.

 

[hatterasguy]

I'm not at that level, but my company probably has a value of quite a bit over $1m. More so if I land a deal I'm working on which is worth about $3.2 built out and sold.

Its just a number, I enjoy what I do. Heck, let me see I have $110kish cash on hand right now in the company check book.

IMHO having a mill in the bank is a waste of good money, you could be out doing deals with that money! I'd view it as a big problem, it would mean I'm not finding enough good deals.

 

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[Yussef]

I realized I was a millionaire one day while driving in the car with my wife. I told her and her reply was something like oh that's nice.

Really to me there wasn't a difference between being a 500K or 800K or millionaire. Now being a multimillionaire was 'cool' to think of for a few minutes but that was about all.

I used to get all my clothes at Walmart and now get some at Target. I now tip 20 - 25% minimum. I buy $25 gift cert for the guys who do the lawn maintenance, I give a few thousand a month in products to USA troops in Iraq and Afghanistan. I offer to pay for my nephews, nieces, sisters etc to come and visit. I splurged and got the injectors cleaned on my 2007 Honday Fit with 183,000 miles on it.

Besides those changes I don't think I have done much different.

Wow. That's funny P. But does the sense of security make life feel just a tad bit different than say when you had a couple of thousand in the bank?

 

[Yussef]

183k on an 07 holy hell!!!


To answer the ops question... I have a rather large inheritance from my dad that I do not spend. It was larger than I first anticipated in my first ever post here. So it doesnt change anything except my willingness to take a few more risks knowing that if something really bad happened I could get myself out of the hole. I want to be my own man, not someone that lives dads money.

I do not consider myself rich because it wasnt my doing. My goal to be a liquid millionare by 25 is totally independent of his money. I dont feel any different than any other entrepreneur in the midst of startup frenzy trying to attack my business at all angles and make ends meet. Things are looking very promising though.

Just goes to show you what the slowlane can do. Probably the most funloving guy out there gets cancer at 50 and hangs on for 3 years. Made good money but penny pinched his entire life.

He had more potential, but grew up in a world of loyalty to companies and 401k crap. Miss him, its only been 2 years.

Your awesome KAK I am sure dad was a great guy who obviously loved his son and whether you are totally independent of his money or not you are you and that by itself makes you your own man in my book, inheritance or not. Your dad planned ahead to give you a head start and you should wear that badge with pride. I wish my dad would've followed the same game plan instead I had to make a lot of big costly mistakes to finally find the right path late in my thirties. Do your thing.

 

[Yussef]

I'm not at that level, but my company probably has a value of quite a bit over $1m. More so if I land a deal I'm working on which is worth about $3.2 built out and sold.

Its just a number, I enjoy what I do. Heck, let me see I have $110kish cash on hand right now in the company check book.

IMHO having a mill in the bank is a waste of good money, you could be out doing deals with that money! I'd view it as a big problem, it would mean I'm not finding enough good deals.

After reading your post I realized that I should have said "access to a million" un-borrowed or something to emphasize liquidity not money just sitting around idle. Funny thing is I have owned several pieces of property at once and I didn't feel wealthy at all. Not even close that may be due to the fact that I did not follow the 5x gross annual rent rule. I love commercial and multi family property though and someday would love to start a REIT consisting of Class A commercial with a group of other business owners. I used to really love the challenge of finding ways around the bank, it gave me a rush to know I put together a deal without personally having to go to the bank for anything. That is the part that I really enjoy.

 

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[PatrickP]

Wow. That's funny P. But does the sense of security make life feel just a tad bit different than say when you had a couple of thousand in the bank?

oh yes indeed is certainly does.

I do not ever remember stressing over not having enough money to pay the bills. That means either I didn't stress, I have a short memory or I was an idiot lol

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.

So yes you are right it does feel so much more secure.

 

[MJ DeMarco]

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.

You're probably gonna be disappointed with my answer.

First, I celebrated the milestone with dinner. I vividly remember the day. I was elated and proud.

However, please note the source of that feeling. It wasn't the liquid million that created this feeling, it was the achievement. The accomplishment. The process of hitting a goal set years ago.

All of you out there who think "being a millionaire" is some type of elusive status that immediately endows some type of immediate "feeling" I'm here to tell you that the difference between that day, and a few weeks earlier (when I wasn't a millionaire) wasn't much different.

To give you a little perspective, I just finished the TMF audiobook which was produced in house and is currently at the production facility getting duplicated ... when I finished that project, that feeling was similar, almost identical to the feeling of reaching millionaire status. Why? Because I made it through the process. I learned. I accomplished. I achieved. I hit a goal. Money (if people buy the TMF audiobook) just adds to that feeling.

As I write in my book "a millionaire" is just upper middle class.

Once that status was reached, I didn't suddenly feel uber-rich, like I could go out and do, or buy anything ... its just a different elevation of security to know that if you want to go out to dinner at a nice restaurant, you can. The mortgage and electric bill will be paid. I can travel wherever, and whenever.

Again, I started to feel true freedom when I became wholly self-employed and self-reliant (and then I was broke.) The millionaire status makes this feeling stronger.

Now at $5M liquid, the feeling is a little different and you start to feel "rich" where money becomes less and less as an obstacle. However, even at this level you still have to be mindful as to what you buy. Again, expenditures don't care about titles (multimillionaire, millionaire etc.) because if you spend more than you earn, you will go broke.

When I see a $400K Aventador I think "gee, I can buy that now, pay cash for it, and not be burdened to it." That's a great feeling. However, just because "I can" doesn't mean I will, or should as it decreases my margin of error. This type of thinking, done too many times, leads to the Sidewalk.

I imagine at $25M the feeling of freedom and security would be even more pronounced and the margin of error gets larger.

Do your friends treat you differently?

Not really. However, some of my other friends who only know me through my book tend to treat you as if you are atypical ... like, drinking cheap beer or staying at a dive hotel is "out of the question". It isn't. Other than my house (and my Lambo which I just sold), I blend in like everyone else. I still shop at Target and Walmart. I still shop at Safeway.

I drive a car that is nearly 7 years old with 70,000 miles ... my "non Fastlane" friends all drive newer cars.

Do you buy more elaborate gifts now?

No.

Are class reunions better than ever now?

Not even sure any one in HS knows anything about me. My penname and real name are different. Some of my old college buddies have bought my book and enjoyed it, but I haven't seen them in years.

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

When I wake up the morning sometimes I have to pinch myself. The view in my house is gorgeous.



Again, when I bought my first Lambo, (a Diablo) it was a great feeling of accomplishment because it was a goal achieved. Freedom is fantastic. The feeling that I can write for days and weeks, and not have to worry about money is great. The feeling that I don't know "what's next" is scary, and exhilarating all at once.

However, life is not all unicorns and rainbows. I stress about things too. (For example, for years I've struggled to get health insurance and still do -- my health insurance premiums now cost more than most peoples mortgage ... this is an uncontrollable variable and can dictate future security)

 

[GMSI7D]

i was watching a video about life in poor countries .


you know, these poor soul who live in dust , who have not even a roof over their head and who eat whatever they can find on the floor

i thought that compared to them, i am already a milionaire with my average french lifestyle.

in fact , they will never even dream of my lifestyle. it is too big for them.

the gap is too big


then i looked at my small appartement and said to me than even kings 500 years ago didn't have the tools of power that i have in the room : electricity, a computer with fantastic calculus power, hot water and so on

i am already richer than kings and the richest people in the world of the year 1500 or 1800 in terms of technology

compared to history and 95 % of the actual world, i am already rich like a milionaire


so what do i mean ? a global point of view helps us to understand reality

 

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[thinkandgrowrich]

Try to think like this;

You are already a millionaire, all you need is the money to affirm it. How would you feel if you were a millionaire? Create that feeling now.

I know this sounds new agey and esoteric, but countless successful people have used methods such as that. The mind is weird, life is weird, and there's so much we don't know as to the power we actually possess and what's possible.

----

For me wealth is freedom, the ability to do whatever you want, whenever you want. Money is one element of wealth, although it is a major element.

Working a job sucks man, who in their right mind wants to work a job and have their time obligated to someone else for 30+ years? Who the hell wants to wake up to an alarm clock 5 days a week, and anytime they want to go somewhere around the world they have to ask some man and if they are lucky that man grants them two weeks? Imagine being tied to the same damn obligations and schedule week after week after week after week.

"Rich people have money, wealthy people have time"

 

[Niptuck MD]

i was watching a video about life in poor country .


you know, these poor soul who live in dust , who have not even a roof over their head and who eat whatever they can find on the floor

i thought that compared to them, i am already a milionaire with my average french lifestyle.

in fact , they will never even dream of my lifestyle. it is too big for them.

the gap is too big


then i looked at my small appartement and said to me than even kings 500 years ago didn't have the tools of power that i have in the room : electricity, a computer with fantastic calculus power, hot water and so on

i am already richer than kings and the richest people in the world of the year 1500 or 1800 in terms of technology

compared to history and 95 % of the actual world, i am already rich like a milionaire


so what do i mean ? a global point of view help us to understand reality

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.

 

[biophase]

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.

I don't agree with this. First of all, these people are not inferior. If that's how you think about them, then being successful will not make you happy. Compassion and understanding of their situation will help you be grateful for what you have. If you aren't grateful or appreciative of where you are, then you will still be the same person even if you had a million dollars.

 

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[Guest34764]

I am here for only a finite time on earth I DESERVE THE BEST And I will own the best.

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".

 

[Longinus]

i am already richer than kings and the richest people in the world of the year 1500 or 1800 in terms of technology

Not just technology:

 

[king156]

I don't agree with this. First of all, these people are not inferior. If that's how you think about them, then being successful will not make you happy. Compassion and understanding of their situation will help you be grateful for what you have. If you aren't grateful or appreciative of where you are, then you will still be the same person even if you had a million dollars.

lol you guys, be honest were all here to make COLD HARD CASH, nothing else nothing more, don't make it about anything else stupid kid

 

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[Andy Black]

be honest were all here to make COLD HARD CASH, nothing else nothing more

Really?

 

[Raoul Duke]

lol you guys, be honest were all here to make COLD HARD CASH, nothing else nothing more, don't make it about anything else stupid kid

@theag

 

[MidwestLandlord]

A fastlane friend of mine has spent north of $200,000 on cosmetic surgeries. After all was said and done, I asked him "so do you like the new you?"

He looked at me blankly for a bit (wasn't sure if he was thinking, or if his face didn't work anymore lol)

Eventually he said, "I dunno, I'm still me I guess. Not much has changed"

His happiness reverted back to the mean. Whatever it was he was searching for he didn't find at the surgeon's office.

I found much the same thing when I hit 1 million. Yes, proud of myself for doing so, but really for me it's about the journey and not the destination. It took me a REALLY long time to realize that ultimately it's about mindset more than money.

Besides, once I hit a million I was working so hard that stopping seemed laughable, so I just sort of waved at the million mark as I drove by.

But on the flipside of that, it is pretty freakin' awesome.

I eat steak twice a week. I bought that expensive lamb skin leather jacket I always wanted. When I get sick of the cold here in the north, I fly me and the wife out to Miami or LA (4 times in 2016) I'm a bodybuilder, and I converted half of my garage into a gym.

I bought my disabled mother a house. (being able to do that was a happier moment than hitting 1 million)

That million dollars pales in comparison to the self improvement I've done in the last 5 years though. It's all about mindset.

(and for the record, I'm an equity millionaire, and still trade my time for money at a job. So that's the next goal. I only hold about $100k in cash)

 

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[kkompoti]

i would really like to see what @Vigilante has to say about the above posts...

Here i am because i understand that i want to make my efforts to have some time for me and my family(this is my definition of wealth) @Andy Black knows what i mean.

making money is easy.(not having what it takes to start something is difficult but everybody can overcome that) knowing what to do with them is the hard part.
the value added here by people is a tool in your way to better understanding what to do with your money in order to really achieve real wealth.
the lambo, the internet business and the lead generation are only EXAMPLES MJ gives. it is not the only way to wealth.

i nowadays work in a Syrian refugee settlement in my country. i see everyday people that owned big cars and had big houses live in tents when it is -4 degrees C with their families and believe me they are not inferior to me and to you in any part. living is a struggle for everybody.

your attitude is not so good and believe me society has a way to track this down. this mindset is what makes big companies go south.because eventually society finds out what you are about and turns its back at you.

Cold hard cash is in todays society the only way to achieve freedom. if you use it the right way. the right way to use cold hard cash goes through the right midset...

deserving the best? was your father's name Jor El ? what difference you have from everybody around you in order to deserve the best?

 

[amp0193]

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.

To better appreciate what you have, fully understand or experience first-hand what you don't have.

The Stoicism practice of negative visualization is an effective means of thriving in hardship if/when it does present itself.

 

[SteveO]

stupid kid

Ha ha ha........

 

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[amp0193]

That million dollars pales in comparison to the self improvement I've done in the last 5 years though. It's all about mindset.

It's refreshing to see a new member on this forum who is walking the walk, and not full of action-faking baloney.

Congrats on your success so far. Can you elaborate more about the mindset that you now have? What in your mindset has changed in the last 5 years?


Welcome to the forum. I hope you stick around!

 

[SteveO]

Issues and challenges don't go away. I have been up, down, and up again. Still feels like the same life.

As another poster stated, the money didn't change me, it was the learnings along the way.

 

[MidwestLandlord]

lol you guys, be honest were all here to make COLD HARD CASH, nothing else nothing more, don't make it about anything else stupid kid

Short of winning the lottery, you get COLD HARD CASH by providing value.

It's easier to provide value (see a need and fill it) when you have genuine empathy for people.

The cliche "cold-hearted, ultra pragmatic, only cares about money CEO" are really just successful slowlaners. That's why they are all in their 60's or older.

That's not how I want to live, but to each his own.

 

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[MidwestLandlord]

It's refreshing to see a new member on this forum who is walking the walk, and not full of action-faking baloney.

Congrats on your success so far. Can you elaborate more about the mindset that you now have? What in your mindset has changed in the last 5 years?


Welcome to the forum. I hope you stick around!

Thanks. I'll stick around for a bit. I'm hoping that interacting with y'all will spark the idea for my next step to freedom.

I'll respond to your mindset question in a bit, gotta think about it.

 

[king156]

Issues and challenges don't go away. I have been up, down, and up again. Still feels like the same life.

As another poster stated, the money didn't change me, it was the learnings along the way.

what money your got a few quid, your hardly wealthy mate, simmer down

 

[MJ DeMarco]

what money your got a few quid, your hardly wealthy mate, simmer down

You've now insulted two of our oldest members -- both millionaires (one owns a freaking golf course) so tell you what "kid", "mate" or whatever label you deem "cool", stop posting crap and start reading.

You've posted 78 comments and none of them have any redeeming value.

 

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[king156]

You've now insulted two of our oldest members -- both millionaires (one owns a freaking golf course) so tell you what "kid", "mate" or whatever label you deem "cool", stop posting crap and start reading.

You've posted 78 comments and none of them have any redeeming value.

lolollololo but a 2 or 3 million isn't much in todays world is it! lololol you judge me on my rep loooooooooooool be in the real world guys cmon peace out peasants

 

[Get Right]

lolollololo but a 2 or 3 million isn't much in todays world is it! lololol you judge me on my rep loooooooooooool be in the real world guys cmon peace out peasants

Somebody's asking for a time out...