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.

According to Felix Dennis, you're still in comfortably poor territory.

I'd actually agree with this, you need to be sorting out your passive income streams. You will also probably need new friends and move in circles where wealth is more commonplace. I don't think this is actually that easy and I get what your issues are but you're in a great place to set up the rest of your life.

In the meantime, structure, purpose and community is what you're probs lacking. It's also why it's common that people piss cash up the wall on drugs, sex, whatever, if you're unhappy, you're unhappy, just a little more comfortably.

I couldn’t think of anything worse respectfully.

So what kind of music?
And what's your role?

Why not separate your money a little. Think how you can create meaning for yourself? Support and volunteer a food bank perhaps, or work with elderly people. Just create connections, use your wealth for good things.
your friends can’t afford expensive holidays so go on cheap ones with them (and buy a round or two) but focus on connecting with them and your wider community. Keep doing good things with your money though, support children from lower incomes to go to third level education. You will gain a better sense of satisfaction with life.

Haha - I first wrote “business class, maybe” but didn’t want to crush the poor guy’s dreams. They probably can fly business class infrequently though - lots of my £100k earner friends fly business class every few years, but yes he’s not got enough to do it multiple times a year.

I’m in a similar position - though I’m late 20s, and a parent so my day to day looks very different! I grew up super low income, my friends all earn <50k, and my relationship with money is a bit fucked up. I highly recommend seeing a therapist to talk about it, and then figure out what you actually want from life/friendships.
The reality is if you want friends you can do stuff with who can afford it (and who have time during ‘regular’ working hours) you need to find more friends. They are around - maybe look outside your industry for entrepreneurs? You can also look at doing more travel (if that’s your thing!) in tours - there are lots aimed at single travellers in their 20s, and you’d likely make more friends there too.

In your early 20s you had enough deposit to buy houses then you aren't self made.

Nobody at around 20 completely on their own can do that.

Be honest: Did you live at home with parents not paying rent to save? Did you have opportunities afforded to you through connection that lead to high paying jobs? Did you have savings and trust funds set up for you via parents, family members or inheritance?

There no way you where working a £10 an hour or slightly more job (minimum wage for teenagers, hardly huge savable amounts) for a couple of years while paying your own rent and bills with no money from family and pulled off buying three houses.

Don't be disingenuous, money for a deposit at a young age comes from some form or high privilege.

Production

I too bought 7 houses with just a few pennies at 18 and became a millionaire at 21. On track to be a billionaire at 24. I’m so sad

Give it all to charity and get a 9-5 job?

When you ask does anyone else feel like that are you hoping to find other self made 23yr old millionaires on Mumsnet?

What will you make 700k from? Your job? You're not making it from the profit from your rentals unless you sell a couple. And you're not making it from growth on the 750k liquid savings. So I'm assuming the 700k tht you're going to make this year will be from another source - your job.

I think you need to learn to enjoy your own company for certain things then.
You now have money so want to be extravagant but your average friends aren't in a position to join you and you don't want to pay.
The answer is to do average things with your friends and treat yourself on your own.

I sometimes ponder how I would be if I came into loads of money and I always come to the conclusion I'd be generous and still be me. Of course some things I'd do more luxury but a private jet is not for me. I can't imagine going oh I want a lambhorgini and become a jetsetter I'd probably just upgrade my current life but still be within the norms/average.

I think some of the replies are harsh but when people are saying you're not exactly Jeff Bezos yet you snap back asking how many 23 year olds we know in your position.
There's no denying if your story is true that you've done well for yourself but maybe be a bit humble.

What kind of upbringing did you have, how was the family finances? I can imagine the disconnect would be more if you struggled and now you don't need to.
Are you on social media a lot which is making you think that rich people need to travel in private jets etc? I'm trying to work out the mindset behind it.
I love my friends and I'd rather do stuff with them than live a show off life.

Please read what I have said

i own my own music company. Yes I have lived at home.

self made aka no inheritance, no connections.

started with 1 email

Damn, I was thinking Bonnie Blue had joined Mumsnet.

They didn't tell you to give handouts. They said use your time, not your money. It might help you feel less sorry for yourself

Not 23 no, but late 20s early 30s.

This thread is so weird. OP feeling all disconnected from reality and insisting over and over again that there are SO few at his age that have this money even when other posters say they know some. Feeling SO SPECIAL seems to be core to his personality and equally part of his problem.

Oh, I read it all. With great amusement. My response stands. You do not have private jet money.

Hi OP, I think what you are talking is interesting.
I think lottery winners go through something similar. Unless they can keep it all secret they lose all their friends, because people see them as a cash fund all the time.
I remember Ed Sheeran (in an old interview somewhere) talking about the process of going from being poor to loaded, and how old friends began to see him as a human cash machine.
I think suddenly having money after not growing up with loads affects your identity. It will challenge all your friendships and disrupt some for good, particularly family. People will resent your success.

I also read Gary Stephenson's book about how he became a multi millionaire after growing up in huge poverty- it messed with his head so much he had a breakdown.

I think you are being really wise at a young age to invest your music money in something sound, like bricks and mortar. Music Industry money is notoriously fickle.

I also think you need to maybe move away, and start again, get a house share, get some new friends and choose carefully what you tell them about yourself.

Well done for getting some success, and remember it takes real strength of character to keep wealth. Even the bible warns 'a fool and his money are soon parted'

Good luck! And hope you meet some people who will genuinely love you for yourself not just the £££

Very good family, middle class.

i live in social media, my whole work revolves around it.

everyone i work with earn ridiculous amounts of money. Type of money where 40,000$ on a bottle show is a night out.

Shocking. There are helplines available to you. There’s a couple of marvellous therapists who can help you, Dr Jeff Bezos and Dr Elon Musk. They were enormously helpful in getting me to accept I wasn’t a loser because I only had two bill instead of their couple of hundred bill, they didn’t look down on me at all.

Can't believe people are taking this as a genuine post...

Mr Fantasy has come over - from Reddit no doubt - to have a laugh at the expense of the ladies...

you struggle to spend money but like to do spontaneous things that your friends can't do or that they can't afford?????? really?????

First time I’ve ever thought this about a MN post, but especially as it’s ‘silly season’ asking ‘I’m a struggling self made young millionaire - can anyone relate?’ . Umm very probably not! I’m struggling to believe this isn’t a troll post.

OP says they’re a self made millionaire in ‘music’, but unable to elaborate further than that single noun and in fact gets quite irate when questioned again. Just vaguely chucking out additional words like ‘social media’. Personally, I’d think they would have been proud of their achievement and happy to elaborate…

Its an odd ‘problem’ to post about because it’s no different essentially to an issue millions of people have to manage every day where friends and family members are on varying points of the wealth spectrum and struggle to meet somewhere in the middle so they can still socialise. Except OP is claiming to be on the extreme end but principles remain the same.

If it’s true, they should take the advice of PP and get therapy since they’re struggling with their new found wealth and they don’t sound particularly happy or whoever their work peers are, who I imagine are similarly wealthy to ask support from them.

I know this isn't what you are asking exactly but if I had loads of money and an ability to carry on making it it, I would set up a charity with the purpose of ending homelessness in, firstly my local area then expand that brief if possible. Meaningful, fulfilling, huge amount of problem solving required.