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.

Example. If we want to go away somewhere, they cannot afford it.
I like to do spontaneous things, which they can’t do short notice without informing work and requesting time off.

OK. So you can join a group tour perhaps - loads of very cool and fun companies do this all over the world for solo travellers. You will meet new friends. You have got your shit together enough to have built up a nice little income. I can't believe you have run out of ideas as to how to make your life work better for you.

Deposits from where?

If you are self made what did yiu actually do to make that initial money that funded the properties?

Why don't you carry on doing that?
You could go to university and study if you don't need to work.

If you fancy a trip and your friend can't afford it then treat them.

What did you do before getting the money? And how did you get the money for the deposits?

You might find charity work gives you a purpose.

Then what’s the issue?

With respect, while it’s obviously impressive to have made a million by 23, you’re not Jeff Bezos. £750k in cash isn’t enough to live off forever, so you need to make a plan. Did you sell your business? Start another one.

People don't always want to be treated. I had a small windfall and took a couple of good friends out to dinner and they felt awkward about it!

I once had a rich boyfriend, and money was definitely a barrier between us. I had to work, he didn't, and he didn't really get it. It's not the main reason we broke up, but it was a factor. Even though he paid for most things, I ended up living beyond my budget, and I just didn't have the freedom he did.

If you have money why don't you pay for professional advice? You need a therapist and a financial advisor. Stop relying on women to do free emotional labour.

Invest some of it in education perhaps - do a degree in something you’re really interested in.

You'll get a load of sarky responses here, but you're not alone. I'm much older than you but in a similar position in that we're vastly wealthier than friends and family. It does feel weird, and they can't afford to do what we can. We pay for holidays for family but generally we cut our cloth according to what friends etc can afford. It might also be different because we had well established friendships before the money became ridiculous whereas you're still young.
Google sudden wealth syndrome.

Im in exactly the same position but it took 20 years. I’d like some tips on how to do it in 3.

Get a really good therapist. You can afford a very good one.

It's very normal for people who come into wealth to be scared to spend or give any away. Might have to have a delve into your upbringing and what messages you got around money. Good luck.

Welcome to the real world. Sit alone in your golden chair, pour yourself some whiskey and enjoy being the miser that you are. Have you heard of charity, widows, orphans or you haven't got the heart for it

If I won the lottery tomorrow I’d still have a very meaningful life, which I’ve built through interests, voluntary work and concern for global issues. I’m not saying I’ve got it sorted, I’m just saying I don’t think we make meaningful though money (though it’s very nice to have!).

School holidays? 🤔😂

So far I think you’ve not found the right people to help you judging on the jealous replies you’ve had so far

Looks like another troll. Best ignored!

‘I struggle to spend money.’

don’t spend it then. There’s no rule that says just because you’ve turned 23 and have loads of money that you need to start spanking it on fast cars, holidays and Louis Vuitton handbags. Someone above has suggested finding a therapist. It’s not a bad idea.

honestly, it sounds like you lack quite a lot of maturity and that earning this amount of money has been quite unexpected. A private banker (eg Coutts) or a really good IFA could help you think about how sensibly to invest while you work out your additional aims in life and next goals and steps. Having three properties and 750k in cash is both amazing but also in the grand scheme of things still not super wealthy so your plans could even include further accumulation and creation of wealth

I have always said that if you come into, or make, more money than your circle, its both a blessing and a curse. Blessings are self-explanatory but the curse is that you have to either move away from all your friends, into an area where there are comparable people wealthwise, or keep it all a secret and not spend any more that you previously did, which seems pointless to me.

You're only 23.

In your shoes I'd be working in the basis that you've done really well for yourself (and should be proud of that!!), but also with the knowledge that things change and situations change.

Get goals for yourself. How much do you need to retire? When do you want to retire? Get money invested and squirrelled away, and work on the basis that your income source could just dry up in a few years, so be wise with it. Allow yourself a lower "spendable" income while investing more could also bring you more on a parr with your friends again too.

Once you have enough stashed to know you have really long term security, then you're free to spend what you want from your income, but at your age I'd focus on the future and making sure that if my income dried up in 5/10/20 years time, my finances are organised and structured to make sure i have security for life.

Absolutely do not start spending it on your friends! Any advice here that says just give it away or take them on holiday for free don’t follow it. That will just breed contempt. This advice is coming from people who clearly don’t have wealth.

It's one of those mummies with the sugar daddies who give them 15 000 budget for holiday. Like never heard of the Bahamas or

He asked where I get the money from.

the houses are paid with mortgages

deposits are the money paid upfront. Got from income. Read what’s said.

Are there any young entrepreneur type groups you can join?

You have a made up problem in that there isn't one with spending less on a holiday with friends to spend time with friends. Besides, how many people regularly go on holiday with their friends!

Google Self Indulgent Nonsense syndrome and you may get a wake up call!