The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

HOT TOPIC Does Every Multimillionaire / Billionaire Lose Touch With Reality?

OP
OP
Everyman

Everyman

Get To The Choppa!
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 31, 2015
234
416
215
Ireland
Depends what you define as a REALITY.

If you talk about a 'commonsense reality' - I've already lost the touch with it and I am not even a millionaire yet.
Good stuff. Exactly. I am a dinosaur because of my views.

I then was put in a different situation in my early 20s where I was surrounded by 1%-ers. I was originally looking at all of their problems through the lens of having no money. I couldn't comprehend why they did or did not do certain things. Eventually I was able to realize and understand how and why they looked at problems a certain way. I saw that "rich" people had plenty of problems just like "poor" people, they were just different problems.
Same here... Your post here is excellent. Thank you @JasonEP

Slowlaners are out of touch with reality.

401k? compound interest? Social Security? lol...
Again this is perfect @luniac .

Having loads of money doesn't make you right. It makes you more powerful to force your version of reality on others, even if it's horribly wrong (Tesla's ev cars). Some will do this (I think the minority though). The problem for me is that we all bear the implications of e.g. Musk and his 'friends'' ideas. It costs to build these unviable projects, and it costs population (I won't expand on this here). I could mention other projects too... But let us stop and think about it - why do we need the Pyramids?...........

That's why it's so important to Unscript yourself from what is going on around.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

ChrisR

Diamond Contributor
FASTLANE INSIDER
I've Read UNSCRIPTED
Speedway Pass
Nov 11, 2017
150
269
176
35
Republic of Kekistan
Good old Arnold went awol from the Austrian government before he came to the states. If an American actor/personally did that in their past they'd be labeled a pussy and a coward.

With that being said, I used to really like him until he started to open his mouth about politics.
 
OP
OP
Everyman

Everyman

Get To The Choppa!
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 31, 2015
234
416
215
Ireland
Good old Arnold went awol from the Austrian government before he came to the states. If an American actor/personally did that in their past they'd be labeled a pussy and a coward.

With that being said, I used to really like him until he started to open his mouth about politics.

Thanks for commenting @ChrisR . I will reply below what I think now and hope you could also benefit from it. Throw any darts at it.

I have been a bit 'insincere' with myself, with you guys here (with the universe ha). I will get to it later (point no 2 below).


TLDR - Do What The Millionaires/Billionaires Have Done, Not What They Say (or Have Written A Bestseller About) They Have Done. Even MJ can be wrong!


1.

I hated Arnold for a couple of months. I thought he was a liar. In a nutshell. I thought this about all of the people that said or did something stupid, even though they are enormously successful in one area of our lives (e.g. bodybuilding, real estate, internet payments...).

This was pretty childish.

I have been talking daily to @Longinus , who wrote

"Dude aren't you focusing on this one small, bad thing and then reject the whole person / idea because of it?".

He was so right. Still is. But he wrote it just after I rethought the whole thing (while reading this book
Mindset - Updated Edition: Changing The Way You think To Fulfil Your Potential by Carol Dweck).

Successful people are as normal as every other people. They aren't 'black' or 'white'. They are 'grey'. They do stupid things. Arnold cheated on his wife... Elon is and idiot in his private life... So what? Doesn't matter? It matters to know the difference.

You want to be successful - do what they have been doing. Not what they say they have been doing. Arnold says on youtube - "Break the rules, not the law" - and he has broken the law several times. But he did it in a smart way. He wasn't smuggling drugs. It was a misdemeanour. We are allowed to do that. It's not possible not to if we want to be successful.

It refers to any other successful guys. We aren't without flaws.

Continued below....
 
OP
OP
Everyman

Everyman

Get To The Choppa!
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 31, 2015
234
416
215
Ireland
2.

The Forum - This Forum

I have been worried before posting anything here, because the forum = the people here are so 'successful', fastlaners. Supposedly on top of all things. And I thought my life and my ideas are redundant (flows from the point no 1).

People here aren't perfect. I needed a support group and the problem is that if I post something here, it will always attract people that want to build their ego up on my expense.


My lesson from this is - it's just a forum, people, no matter how successful, still people (that e.g. go to toilet and make a smelly poo ;)).

It's not the best place to be honest. Everyone can come and pollute your thread. Unfortunately. If you are in a fragile state, as I have been, look for a real support group, but don't leave this forum.

Come back when you are ok with yourself and don't mind people that are harming themselves, even if they are wealthy, they are limiting themselves by leaving a 'tough love' comment and think they have it all figured out.

I think this is the reason why people are lurking so much and so long. While it's important to take the fastlane university as soon as possible and participate, not lurk. Lurking is not participating. It's a good start but.... I know we are low on confidence. Why would we be stuck in a soul-crushing 9-5 if we had the confidence of Arnold? We have come here to build our confidence in being happy and successful (whatever successful means to you).

Has lurking decreased recently? or the rate remains stable? Maybe it should land on a 'to-do' list of the admins? Just a thought... What is the success rate of this forum and how it's measured? Does this forum encourages successful behaviours or only talk about them?

I encourage anyone to stop lurking and start commenting - everyone has something meaningful to say. You might not have a successful business or billions in your account (I consider myself a billionaire - I don't have them in my account, but my body is my greatest asset worth billions = I am a billionaire).

But you have life experience which is more worth that anything else (watch The Count of Monte Cristo).

Have you enjoyed this read? Let me know if you have.

PS. Start participating by commenting on a thread that you feel the most comfortable.
 

WJK

Gold Contributor
Speedway Pass
Oct 9, 2017
868
1,998
542
Nikiski, Alaska
Have you done any of those things? I also don't know any of your achievements except releasing brain farts like this thread, so you think your opinion should also be ignored?



I actually didn't know this was the Gossip subforum, I thought the "People" in "People & Relationships" was in a different context, like most of the posts in this subforum, but then I see MJ's thread about Elon Musk, and while his reputation precedes him and yours doesn't, it seems like you posted this in the right place.

Let me know your thoughts on the Kardashians next, dying to know what you think. Can you believe Kylie Jenner is a billionaire? OMG, do you think she deserves it?!
Why are being so insulting?
 

WJK

Gold Contributor
Speedway Pass
Oct 9, 2017
868
1,998
542
Nikiski, Alaska
I think the "why" is the important point of the conversation. The homeless person has a totally different mindset and challenges from the billionaire -- as does the beginner from the expert.

Each level has its own challenges. The first-grader thinks that his old brother in the 6th grade has it made it the shade, while the older thinks that his little brother is only taking on easy lessons. It's all about perspective and actually being in that situation.

I've thought a lot about this question. One study I read pointed out that one's thinking changes with expertise. As a beginner, that person groups items differently from an expert. Like in baseball -- a beginner could lump all hoop shots together. A star player would group the different plays into types of plays that ultimately include the actual hoop shot. A beginning salesman could group his prospects by their incomes. An expert salesman would probably group them by market segments and strategies. The expert sees the connections within the groups in a different way than the beginner. If you ask questions and really listen to people at their different levels of expertise, you can see the progression in their thinking.

What does this have to do with money? Well... you are right. The billionaire, a money-making expert, is going to see things so differently from the homeless person. To the homeless person, the guy with the money is out of touch and has his own reality. The rules are different for those two levels. But, the homeless person is blinded to challenges of being a billionaire, like the first-grader to his older brother, and vice-versa.

And yes, having money does change you. It's not the possession. People who win the lottery or inherit fortunes they are not prepared to care for, are interesting case studies. They quickly lose that money and end up back where they were before the windfall. The way that acquiring money changes you is through the process of earning it, saving it and making it work for you. It magnifies who you are and brings out your core values. If you were a turkey before you became rich, money makes you the king of the turkeys. If you were a kind, giving person before money, you are more so after the windfall. That magnifying glass never fails.
 

Champion

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Apr 12, 2019
323
282
115
Hamburg, Germany
Everyone's decisions affect people around them. If you are an average person, earning 50k per year for example, your decisions will affect your family, some close friends and maybe a few colleagues.

If you are a billionaire, your lives will affect millions, maybe even billions of people!

Just how your decisions in life will affect others negatively (e.g. breaking up with your girlfriend), decisions from billionaires will also affect many other negatively...

I think its exactly the same concept, only that for the billionaire it affects a shit load of more people. Thats just the way the world works though!
 

socaldude

Platinum Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
Jan 10, 2012
1,360
3,093
786
Mexico
It's because there is no such thing as "passive objectivism". In other words we don't just sit back and collect truth and facts while we just breathe and do nothing.

Our mind, our senses are a complex collection of beliefs, images, ideas thoughts etc. All working simultaneously to create our idea of reality.

Its why some people just work a dead end job their whole life. They were never exposed to other ideas or never questioned their own perceptions about reality. They don't realize that there is this whole other world of economic principles and entrepreneurial strategies that can make them money outside $12/hour.
 

WJK

Gold Contributor
Speedway Pass
Oct 9, 2017
868
1,998
542
Nikiski, Alaska
It's because there is no such thing as "passive objectivism". In other words we don't just sit back and collect truth and facts while we just breathe and do nothing.

Our mind, our senses are a complex collection of beliefs, images, ideas thoughts etc. All working simultaneously to create our idea of reality.

Its why some people just work a dead end job their whole life. They were never exposed to other ideas or never questioned their own perceptions about reality. They don't realize that there is this whole other world of economic principles and entrepreneurial strategies that can make them money outside $12/hour.
My friend and I talked about this aspect this week. She was wishing she could be happy with being a cashier all day rather than a very successful attorney. She thought it would be simpler. I laughed and pointed out to her that she bored with her job right now and she's ready to move onto another type of caseload. She's conquered this aspect of law and needs more excitement. I reminded her that she wouldn't last a day standing behind that cash register punching those keys, hour after hour. She has way too many brains and she questions everything. You must be "ripe" for the new ideas and be ready to question your perceptions and everyone's around you. Otherwise, that's where you end up -- a dead-end job making that $12 per hour.
 

Ninjakid

Platinum Contributor
Speedway Pass
Jun 23, 2014
1,874
3,929
891
Buddy Guy Eh
Concerning Elon Musk...

If you worked 130 hours a week trying to save an electric car company, AND a company launching rockets to take people to Mars, you wouldn't be normal either.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Kevin88660

Silver Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
622
564
241
Singapore
I think the dividing lines tend to be something else. There are two segment of rich people in U.S. the globalist and the nativist.

The globalist owns and works for MNCs. Jobs, Buffet and Zuckerberg. Their business are global in nature and high tax burden do not affect them as much. They are able to arbitrage across different labor cost, market and tax regimes effectively and so have made a lot of money.

The other nativist class are millionaires whose business activity relies exclusively in the domestic market. U.S. consumers, U.S. labor and every dollar earned will be taxed under Uncle Sam’s IRS rules as money made in U.S.

Different experience eventually will shape different values and world views. The former globalist might be on average more richer than the nativist thanks to globalization for the past 30 years. But not always so. You can have Trump the billionaire who is a nativist or a “patriot”, depending on you see it. You can have a multimillionaire Chief Technology officer who works in a MNC that thinks more like a globalist.

Eventually I see this as a source of friction in politics. That’s why you have so many billionaires who are also democrats. Who cares about tax rate going up if you can retain your earnings in Ireland or Cayman Island? You earn the reputations as a “compassionate rich celebrity”. Their income and wealth is tied more with the stability of global trade and global gdp increase.

Basically Trump winning in 2016 was declaring wall on the globalist businessmen in U.S. That’s why there is so much disgust and contempt towards him at the elite circle.
 

G-Man

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 13, 2014
1,902
10,059
2,436
Statistically speaking, the number of assh*les and assh*lness in every population should be in balance, according to normal distribution.
Where is this universal a**hole study?
 

minivanman

Platinum Contributor
Speedway Pass
Mar 16, 2017
1,435
3,562
874
50
DFW
This whole thread is crazy. This is reality for the high profile millionaire, not most millionaires. I don't know any billionaires but I hung out with atleast 9 millionaires at the DIRT TRACK last Saturday night (several more were there). Yep, just normal every day people. Racing ain't cheap anymore. My ex-girlfriend's parents back in 1995 was worth almost $2 million. He worked for the electric company and she worked in the school cafeteria. It was slow lane but they were millionaires. Lived in a house worth about $120,000 (in 1995). Most millionaires, you would never know are millionaires. Back 5+ years ago this guy I was hanging with on Saturday night was telling me his wrecker service was profiting him about $20k a week (no idea what he brings in nowadays). Guess where he lives? In a trailer house with junk all around it. I understand that making $20k a week doesn't mean you are worth that, but he has been in business a few decades so he has a boat load of cash. I bet you come in contact with a millionaire more often than you think, you just might not know it. And they all have the same family problems as everyone else. Now listen to this weird part..... we eat the same foods as everyone else and shop at the same stores. The government doesn't make special food just for us and we don't have special stores. And nowadays the very poor have the same service as the ultra rich have had for decades...... they can order things and never have to leave the house! So while there may be a wider gap, it all comes together on the other side......

It all boils down to, most of us are just humans no matter the amount you are worth, look at the news.....
 

Kevin88660

Silver Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
622
564
241
Singapore
This whole thread is crazy. This is reality for the high profile millionaire, not most millionaires. I don't know any billionaires but I hung out with atleast 9 millionaires at the DIRT TRACK last Saturday night (several more were there). Yep, just normal every day people. Racing ain't cheap anymore. My ex-girlfriend's parents back in 1995 was worth almost $2 million. He worked for the electric company and she worked in the school cafeteria. It was slow lane but they were millionaires. Lived in a house worth about $120,000 (in 1995). Most millionaires, you would never know are millionaires. Back 5+ years ago this guy I was hanging with on Saturday night was telling me his wrecker service was profiting him about $20k a week (no idea what he brings in nowadays). Guess where he lives? In a trailer house with junk all around it. I understand that making $20k a week doesn't mean you are worth that, but he has been in business a few decades so he has a boat load of cash. I bet you come in contact with a millionaire more often than you think, you just might not know it. And they all have the same family problems as everyone else. Now listen to this weird part..... we eat the same foods as everyone else and shop at the same stores. The government doesn't make special food just for us and we don't have special stores. And nowadays the very poor have the same service as the ultra rich have had for decades...... they can order things and never have to leave the house! So while there may be a wider gap, it all comes together on the other side......

It all boils down to, most of us are just humans no matter the amount you are worth, look at the news.....
The upper middle class millionaires are probably the same.

The 8 digits net worth classes might be different, especially those who made it by themselves.

Some developed an attitude of “they know it all” arrogance. They are quickly to change the opinion when they realised that things were no longer working as they thought (after losing money) but they will not acknowledge that they were wrong. It will be brushed off aside and they will accept the new idea as if they believed it all the while.

Some will be heavily into charity to build their personal legacy. Basically they will inject their personal philosophies into charitable fields that are totally not related to their personal philosophies. But so long as they are paying the bills for the organizations they will be humble servants who pay lip service to their grand philosophies.

Not necessarily “out of touch” but they develop patterns that are obviously not in line with the more normal folks.
 
OP
OP
Everyman

Everyman

Get To The Choppa!
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 31, 2015
234
416
215
Ireland
What does this have to do with money? Well... you are right. The billionaire, a money-making expert, is going to see things so differently from the homeless person. To the homeless person, the guy with the money is out of touch and has his own reality. The rules are different for those two levels. But, the homeless person is blinded to challenges of being a billionaire, like the first-grader to his older brother, and vice-versa.
Ok. After having some thought on it... What did not add up for me was the things a lot of 'high profile millionaires' were saying they were doing, or 'marketing' by their behaviour, that was in clear contradiction to how they became wealthy... I even found it in one book "Spin selling". The author wrote clearly that people say what they think they do or did, but the reality might be completely different.

Where is this universal a**hole study?
Made up. I haven't studied IQ levels much but I am assuming that same number of idiots are among 'rich' as 'poor' people... Just a guess because it's not that relevant...

I bet you come in contact with a millionaire more often than you think, you just might not know it.
I always bring one example. One of the wealthiest people I know. Looks almost like a homeless person (though is clean). Doesn't have time or pay attention to it. He has been expanding his businesses all his life. But also neglected his family because of this...

The government doesn't make special food just for us and we don't have special stores.
But we can buy better food or buy a plot of land and grow our own. Or hire people to do that.

Out of touch with their reality? No.

Out of touch with your reality? Probably.
Can you expand on it a bit more?
 

Entre Eyes

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Well...just a few observations.

Buying the other M.J.s Glitter Glove at auction.
Paying Half a Mill for a lunch chat with another Multi Millionaire.
Not having a T.V in your Mansion but an entire Cinema complex over a library.
Contributing Cash to a Racist.
Creating an entire Broadcasting Network based on Racism and B.S.
Getting in a cryo tube without protection for your feet.
Putting an epic Golf career on the line for Porn Hos.
Going all in for a Racist and losing your multi-million dollar Hit Show.
Blatantly attempting to scam the market with a fake stock price of $420 the code for Weed. :)
 

WJK

Gold Contributor
Speedway Pass
Oct 9, 2017
868
1,998
542
Nikiski, Alaska
Ok. After having some thought on it... What did not add up for me was the things a lot of 'high profile millionaires' were saying they were doing, or 'marketing' by their behaviour, that was in clear contradiction to how they became wealthy... I even found it in one book "Spin selling". The author wrote clearly that people say what they think they do or did, but the reality might be completely different.



Made up. I haven't studied IQ levels much but I am assuming that same number of idiots are among 'rich' as 'poor' people... Just a guess because it's not that relevant...



I always bring one example. One of the wealthiest people I know. Looks almost like a homeless person (though is clean). Doesn't have time or pay attention to it. He has been expanding his businesses all his life. But also neglected his family because of this...



But we can buy better food or buy a plot of land and grow our own. Or hire people to do that.



Can you expand on it a bit more?
Ok. After having some thought on it... What did not add up for me was the things a lot of 'high profile millionaires' were saying they were doing, or 'marketing' by their behaviour, that was in clear contradiction to how they became wealthy... I even found it in one book "Spin selling". The author wrote clearly that people say what they think they do or did, but the reality might be completely different.



Made up. I haven't studied IQ levels much but I am assuming that same number of idiots are among 'rich' as 'poor' people... Just a guess because it's not that relevant...



I always bring one example. One of the wealthiest people I know. Looks almost like a homeless person (though is clean). Doesn't have time or pay attention to it. He has been expanding his businesses all his life. But also neglected his family because of this...



But we can buy better food or buy a plot of land and grow our own. Or hire people to do that.



Can you expand on it a bit more?
It's a matter of priorities. You talked about the guy who "Looks almost like a homeless person". Who is he going to impress at this point in his life? When I was working in my career I wore power dresses and business suits. I ran with the big boys in Los Angeles. At that time, how I dressed was important. Now I wear overalls every day -- but, I've retired to the woods in Alaska. The last time I wore a dress was at the little brother's funeral -- and that was 16 years ago.
I'm trying to tell you that different things are important now. I fit right into my world and that is enough. My husband, my bankers, my business partners, and my tenants all treat me with respect. It's that way with about everything in my life. My life is very simple now. I don't need a lot of stuff around me to make me happy. As I grow older, less is really "more" for me. It's the freedom from having to care for, insure, and share my space with all that meaningless stuff.
 

MHP368

the man, the myth, the Pseudo-Apollodorus
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 17, 2016
536
824
328
33
Sahuarita AZ
Seems like the fame does it not the money , plenty of billionaires we dont hear about so we cant use them as data points.

Funny anecdote though , im a psych ER nurse and I get patients all the time and think to myself "if this guys bank account had 7 figures this wouldn't be a diagnosis it would be called eccentricity and guy wouldn't be on an involuntary mental health hold , he'd be at home chilling"
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.


Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Sponsored Offers

Lex DeVille's - Advanced Freelance Udemy Courses!
-- HALLOWEEN SPECIAL STARTS TODAY! Get any of my courses at Udemy's current best price through Friday! Use code: HALLOWEEN Use any of the links...
Top Bottom