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.

This is why you feel disconnected. It’s got nothing to do with the money in your bank. As I and others have said, there are plenty of others in your situation who don’t feel disconnected.

I’m not jealous as you’ve said, not in the slightest as I have a good life where I can fly business class with my friends as we all have a similar high income. I have the things you want, and you don’t have the things I want, so there’s nothing for me to be jealous of.

You’ve had good advice on here about how to not feel this way - therapy, giving back (in time and/or money), finding new friends that have a different ‘purpose’ to your existing friends, operating in business with morals.

If you don’t want to do any of these things, you’ll continue to live your life with a superiority complex and you’ll never connect with the real world around you and feel better.

You’re essentially a young person who’s earned a salary of £300k per year (maybe more pre tax) in a notoriously unreliable industry. If I were you, I would be investing most of it for the long term and living only off a portion of my ongoing income and continuing to invest. I wouldn’t be mentioning my £1m in the bank as I would consider it locked away for retirement, and so it wouldn’t be a liquid amount to me.

What you have done is impressive, I’m not taking away from that - but you’re not one of a kind, and you’re not even rich enough for this to truly be a problem. It’s a very solvable problem. You just seem to have spent to much time with the uber wealthy and think you should be living like they are. Doing the actions suggested about will help you reconnect to both your reality and wider reality.

If you don’t, I foresee you will become a lonely, poor old man. And I’m not talking about how much money is in your bank (although I doubt that statement would change even if I were)

i actually feel sorry for you on here!

There are loads of reasons you out grow friends, getting married, having children, moving abroad. Your dilemma happens to revolve round making more money.

You have 2 choices - 1) mix with your friends and live a similar life to them - usual pubs, clubs etc or 2) find friends who have more and can be more spontaneous - there are groups you can join like SPICE that do these types of things.

I personally think you need to spread your wings and make some new friends - you don’t have to give up the old ones? -

Perhaps pay for a personality transplant. That might help you.

Cue

I am a very young age, this is normal for late 30s but not relatable for my age

The investment strategy for someone as young as yourself can be more long term than for those of us who are older! Don’t worry about it. I don’t think you have been badly advised.

Tying up some of cash in a house to live in is rather sensible actually. Because you haven't got enough money to support yourself and your parents (since you've apparently retired them) forever as it stands.
Imagine thinking a roof over your head is a waste of money. Stinks of someone who has never actually had to do anything for themselves.

Because it's literally 3 words, no context, no punctuation. Your post at 13:41 says the same thing, but at least has sentences.

It sounds like you've done really well but your whole life is all about money, there's nothing meaningful in your life. You don't have a purpose.

I actually agree with you about not giving it away. 1m is a lot of money but in the grand scheme of things it isn't - you're only 23 and that's not anywhere near enough to live on for the rest of your life especially if you want to keep up with certain lifestyles.

Continue with your companies but try and find something outside of that that adds value to your life.

I cna invest 1m and get 100k passive a year.

im set for life truthfully but the life I want is more than that

I've been here almost 20 years and I was just about to post that this is one of the oddest threads I've ever seen at MN. This is exactly why!

That's what I'm saying - money isn't everything and you've got nothing of meaning or value in your life.

Venture out and you’ll realise lots of younger people have a decent amount of cash

Congratulations OP on making some excellent financial decisions so young. You’ve done brilliantly!

People often forget that people can struggle internally regardless on how well off they are. It can feel very disconcerting to suddenly feel different to others around you. It’s unsurprising to me that you may feel lonely or different to others.

I guess all you can do is try and focus on what you still do have in common with those you’ve known a while. You may also be able to make new friends somehow who can relate and afford to do similar things you’d like to do.

Good luck! 😊

Op are you in London? If not you would be better off there, if what you seek are like minded types - so those who've made an above average amount fairly quickly.

There are scores in tech/finance/banking. Young people can also earn serious money at the US law firms.

I think it will help you gain some perspective that a) people genuinely aren't jealous. They are not really interested in how quickly you've made some money and definitely aren't really impressed. b) that £1m is not a lot these days and certainly won't keep you living a high end lifestyle for long.

You talk a lot about "disconnection from reality". Did you grow up poverty by chance? You are very obsessed by money. It will help to ground you if you focus on other things more - education, creative pursuits, friends, family etc.

The less you focus on the money the less you let it ruin your life.

This may be true in your circles, but I can assure you it’s far from generally true.

Although I thought the reason you were posting on here was because you didn’t have any millionaire friends?

Laughing about that is awful. Some of us did actually lose loved ones in the Bali bombing.

I have work friends as said previously but they’re not proper friends.

I don't know how you can sleep atnight with that much debt. Having financial freedom is having no debt and generating an income from your diverse investments. Having debt does not make you a millionaire

I wouldn’t be giving this thread any headspace.

Your level of cash is decent for your age. Well done on coming up with some tunes that a performer liked / likes and getting in to the music industry.

Your way of speaking to people is pretty appalling and may go some way in explaining why you’re disconnected to your less affluent peers.

Money is absolutely lovely. But it isn’t everything.

The debt generates income…

I am hundreds of thousands of good debt

I really don't think that this is a troll thread, and I have noticed before on MN that anyone who is in a situation they have not experienced for themselves or their little circle, they dismiss as lying. I find him believable. Why not? It does happen that people make a sudden large amount of money in the music industry. Not common, as the OP knows well, but it does happen. And people commenting negatively ("what do you do to make such money?" in a disbelieving manner etc) without even reading the OP's posts? That's just daft, and very annoying, not only to the OP. Why would you comment on a long thread and think you have anything to add/opine on/accuse someone of, without first reading what it's about?

Also, people saying "how did you get to MN" and not believing him because of that: if you Google various questions, threads on MN come up fairly frequently. It's perfectly believable.

It's also perfectly feasible that he achieved success in the music industry without perfect grammar and spelling. People can be very snobbish about that sort of thing but it's true. Just because someone does not sound like/interact like you and your friends doesn't mean they can't achieve something in a different way. Again quite a MN thing. I know someone who is profoundly dyslexic and if he had to post on here people would certainly laugh and point at his spelling, grammar, sentence structure, use of abbreviations etc. He is a highly qualified professional in a very technical field.

I was therefore getting ready to offer some advice/support to the OP and say I understood some of what he was talking about (not from personal experience but from profession-related insights), but then I came across his post in which he said: "No morals in business. Thats what I always have stood by". (No-one else sems to have picked up on this but it stood out like a beacon to me).

So on you jog mate, enjoy your life (I suspect you won't). At 23 you are way too old to have that attitude. No doubt your psychopathy has very much factored into your success so far, but you are always going to feel that personal and social "disconnect", I am afraid. Unless you can work on this in therapy or be altered by a very good relationship (which can happen sometimes), you are not going to have lasting relationships with "real" friends. That has nothing to do with your money (which as others have pointed out, is really not an especially large amount, even at your age. Plenty of people have a lot more. It's so weird that people on this thread have said things like "you don't need to work". On £1 million made before the age of 23? You would have to have to have some incredible investment returns for that to keep you going for the rest of your life).

In your position I would take a few weeks off and travel. Go backpacking to connect with others your age. See the world. Give yourself a proper break. And then see where you are when you are back.

Why can't you do whatever you enjoy doing on your own? Surely you will meet similar people along the way for company.

For example a ski trip with your own luxury private cabin?

Also I think it's silly that you feel lost because you have a million. My brother in law from abroad is self made, became a multi millionaire.

He visits us from abroad, and is able to have a great time - last time he came over we all went axe throwing, dinner then drinks.

You can still enjoy fun things if you are rich : )