Millionaire£ at 23, self made. Feel lost.

[Jonesqua]

I became a millionaire£ at 23.

All happened between 20-23.

Self made, have 3 buy to let houses with 300k£ equity in them rented out. With 750k£ liquid money.

The change happened so fast. All of my friends have regular income , it’s sometimes hard to do things I want to do as income difference.

I am use to making money so quickly that essentially I feel as if I’ve lost touch over it. As no one around me friend wise can relate or I speak with about it. Does anyone else feel like this in a similar situation?

I’ve lost motivation. Feel disconnected from the people around me who I grew up with.

Oh stop being silly

I know it CAN be made in music production. I have two exes in that field. One was so successful he was making songs for very famous film soundtracks, aged 17. He also had billionaire parents who gave him a good start in life.
He also had periods in his life where he was almost bankrupt, and he's on medication for his spending disorder. Too much too young, I guess, and it's not made him the nicest person either.
How you ended up on Mumsnet is odd though... why here? (I don't have children myself, but there is so much on here I identify with...but you seem out of touch with any kind of reality...)

The truth is,

I do have an ego, I did something very rare at a young age very fast.

anyone on the planet would have an ego it’s more than normal. It’s a very rare situation to be in.

it creates a feeling of betterment, harsh reality

A troll , could be a werewolf but in the context of this thread likely to be the former 😂

Feel free to ignore the posts asking stuff that you've already answered, otherwise you'll use up posts repeating yourself.
It is a bit strange that you've chosen MN to post on, but since you're unfamiliar with it...
It happens in most threads here that people don't read all the OP's responses & updates.

Keep it moving forward by trying to engage in a constructive way. You've come here for advice.

What my friends make in a year is less than I make in a month

Really - how come? Surely you are using the rental income from your tenants to pay the buy-to-let mortgage payments. You can't look at the property valuation and say it makes you a millionaire because it doesn't. It is all on paper.

I'll ask again - are you paying tax on your huge income?

On the chance you’re not trolling - connect with people about the things that really matter to you - music, I guess.

find ways to volunteer with young people around music (or whatever else floats your boat)

spend less time on social media. That’ll make your brain rot and send you to self-loathing faster than anything else you do. Spend the time out side talking and connecting with people.

don’t start conversations talking about your wealth. Your problem appears not to be your wealth, rather it’s how one dimensional your life has perhaps become. diversify yourself and your passions and you’ll start “connecting with reality” again.

I could live as an independent adult, that isn’t the reason for not moving out if you read what I said.

I have retired my parents

I think many of us are depressed about reading about how people make lots of money from a vacuous state of affairs, if these concerns and whims on Mumsnet represent a microcosm of society in the outside world, then no wonder the UK is fucked! Mumsnet did used to be a forum for you know, Mums but also parents and none parents that discussed issues of substance, now it is just full of this brain rot but what is more worrying is that those real life discussions of the past are considered the domain of 'weirdos' and social media millionaires are considered the norm!

Read what is said.

300k is EQUITY, Deposit amount and the growth in value.

not the actual price.

I posted earlier, but another thought - OP this clearly isn’t the forum for it, but maybe try reddits r/HENRYuk - it’s aimed at High Earners who are Not Rich Yet, and I find it really useful for asking these kinds of questions.

Perhaps you could, but you haven't. Could do and actually doing are not the same thing. How have you retired your parents? You don't have enough money to do that.

I don’t think you understand what low risk means or how portfolios work. As I said the yield increases with the risk level - if want higher yield, you increase your risk. Equally 3% of a growing fund will increase over time.

Premium Bonds yield no interest, and the “prizes” may not even equal the annual interest on savings account. So they’re a bit of a swizz.

Like I say you need a financial advisor as you seem painfully naive for a 23 year old.

What sort of music do you produce? Are you self-taught or did you study anywhere?

What did you actually ask Google?
I am genuinely interested to know how your googling gave you the answer “Mumsnet”.

Go to Monaco, you'll soon be humbled.

The music industry is fickle, especially with social media involvement, they'll be into the next, new best thing soon enough.

Yep.

🙄

@Jonesqua Can you link to any of your work in music?

I am fascinated.

Then put a lid on your ego. Having money in itself doesn’t make you a better person or more interesting or more likeable (you as in ‘one’ not you personally).

You (personally) can be proud of your achievements but if you come across as the big I am, or look down on others who have less, then you will just be a rich but lonely individual.

Forget big bank balances, no one likes people with big egos.

😂 😂 😂 nice one

"You should invest the £750k with a wealth management company but a low risk yield would only be around 3% so £22,000 pa."

Only 3%?

I'm getting a higher rate from a 4 Access a year non notice Coventry Building Society saver account!

If you find it hard to spend then what's your problem - you've also said that your friends can't afford things that you want to do so there's a bit of a discrepancy there.

Why or how do you think that you've changed because that's how it comes across as. If that's the issue then perhaps you need new friends

Like OP, you need to read my other posts which explain how portfolios work.

But this thread is about money because you’ve made it about money.

It’s actually your ego and your belief that being a millionaire at a young age is applaudable, that is disconnecting you from reality.