1mil net worth at 23. Reality check.

[JollyJoker]

One of my friends is suffering and always feeling like they’re not doing enough.

They made a lot of money at a young age between 20-23

Totalling 400k in investments and 600k money in the bank.

any words of advice to give them a reality check? As they’re constantly down and always wanting more and never seems enough to them.

they don’t feel like they’re doing enough in life

Whats the point of this thread if you're not going to tell us what this magic money making scheme actually is?

Similar to my own situation. We are just always people who want more, you have to accept that. That's why we've achieved what we have in the first place. My motto is, deliberately, "never settle." If you're not growing you're dying.

I find that doing things for other people and having experiences is far more purposeful to me now than any material goods I'm buying or money I'm making. There's always a bigger number to chase and it gets pointless after a while. I don't give a crap about designer handbags.

You need to tap into something that you're passionate about, a specific cause or animal sanctuary or project to help people. Or it could be a new skill or language, or doing something not many people have done, like climb Everest.

I'm currently in the process of building a retreat abroad to help people, it's a huge project and extremely stressful but incredibly rewarding and fun. A challenge like that where it's about the bigger picture could help. A smaller version would be renovating houses near hospitals and renting them at below market rate to NHS staff under a certain band, with the view that they'll then be able to save up for their own house on the side without crippling rents. Things like that.

Correct yes.

defo onlyfans. I would need £1000 meals to take my mind off my days job if I was doing onlyfans!

Definitely not onlyfans….

also a male

It's not believable because you've admitted yourself you lied.

You said he worked 24/7 and then admitted that he didn't.

so thats why it isn't believable.

Because of course he cannot work 24/7 as they need to sleep…..

but without sleep included it’s all the time. Pretty obvious

Selling used pants?

???

Probably a bitcoin disciple. I can understand the emptiness, he's aware it won't sustain him forever.

If this is real you/he are right to be concerned.

Although he's earned a lot he's clearly absolutely lacking in financial literacy and general day to day intelligence tbh.

I'd be concerned if this were my son. A lot of red flags.

There's nothing you can do. If he's smart enough to have made all that money by himself, he's smart enough to know he has done very well. If he feels it's not enough, then he probably needs professional help to understand the difference between his perception/feelings and reality. It will be beyond your remit as a lay person, so if it were my friend I'd be signposting him to therapy.

Why are you pandering to this shit? There's people out there with real problems.

Why is £600K in the bank? Who's advising him?

In situations like this, I always think "Get a fucking grip" does the job quite nicely.

How come?

what financial literacy are they lacking and intelligence ?

£600k is not going to last forever... get back to work!

Wants to build a house

Perhaps because OP wants some words of advice to give her friend a reality check? That is what she says this thread is for, after all.

Money does equal happiness. They probably mean they feel they don't have a purpose.
My child gives me purpose and so does.my job. They need to find their purpose in life

@JollyJoker terrible investment of money. Totally ridiculous for 600k to be in the bank and possibly the 400k of savings is poorly invested too.

They have no concept of how to safely invest and create more wealth. Apparently no idea about how much money it is in the concept of their peers or their age or even the world at wide.

Emotionally struggling/suffering (your words) and navel gazing about his positon.

This person is likely quite vulnerable to scams and manipulation. Please encourage your friend to seek help from a proper wealth manager... and maybe a therapist!

So they had the ability to make shedloads of money but not the ability to speak to a good financial advisor and invest the £600k they have in the bank. I hope it’s spread between many banks as the FSCS only covers the first £85k.

Is that all? I'm only 21 and am considerably richer than your friend.

ok, if he's got lots of money but he's unhappy then it's clearly about his life not his options.

Perhaps the work he does to earn money isn't giving him a feel good kickback for being something that contributes to society.

If he's focused so hard on work, perhaps it's his personal life he needs to rebalance - he can't have many real friends left, or have had much chance for relationships.

Basically I'd say he should look for some volunteering role where he's working in low income communities. It will give him a comparative reality check, he can meet new people and make new friends, he might even decide to invest back into the local community financially or by being a mentor etc

He needs to look within himself to see what he's missing.

I imagine love, connection and self-worth.

I think we all know the answer to that.

Of course they weren't.
Everyone has to stop to eat, go to the toilet, sleep.
I don't like people using the term literally but it is literally impossible for anyone to work 24/7!
And unless you have been a nurse or worked in another low paid job I don't think you can say they worked harder than any nurse or anyone else.
I have no advice for the friend other than they should stop thinking about themselves for a while and try and see how they can help others much less fortunate.