How successful/well off guys do things differently.

[AmsterdamAssassin]

how affluent guys are doing things different... they have something else to talk about than money and the making of it...

 

[CornbreadFed]

I don't think Gen Z is as gym obsessed as you think they are. Obesity rates are still high. Since the oldest Gen Z's are now 26-27, most still don't make enough money to afford Equinox but plenty of 22-27 year olds can afford Planet Fitness, 24 Hour Fitness, or LA Fitness.

They just go to the gym to mess around, hog machines and parking spaces. In addition, places like LA fitness promote the bring your buddy system, so it’s usually 3 per 1 member in that gym.

 

[characternote]

I know a guy who lives in Texas (kinda of a friend of a friend) who is SO rich it's insane. I'm talking multiple million dollar houses, gambles 100k at the casino on a night out like it's nothing etc etc. I don't know his net worth but i'd guess it's like 200 million!

He tells people that he grew up poor and is rich because he's an amazing day trader and learnt the skill at a young age and so never needed a 'job', but i've seen him trade live before and he's clueless. I've seen him make lots of money some days (like 100k in a day) but he kind of relies on his bankroll with positions often going way against him. There's no way in the world his story is remotely true. He'd never have been able to 'build' a huge account in the first place based on his trading skillset. What i do know is that he DOES indeed trade but it's basically just a bored millionnaire gambling for fun. Some days makes 100k Some days loses 200k. But there's no way that's HOW he got rich

I'm convinced he must have billionnaire parents or something lol

So yeah, as you say, for some reason most don't want to admit it

This doesn't really have anything to do with the OP btw, but your post made me think of him!

just had to bump this to show you the insane money i'm talking about.
This is from yesterday lol

Not a bad day!

 

[characternote]

Holy smokes, those are some good plays
Seems like he knows quite a bit on Supermicro

with that guy in particular it was likely just a good day and he probably lost a similar amount the day before lol. More of a rich gambler than a superstar trader.
BUT there are traders out there who make that sort of money consistently/most days, and it just blows my mind lol

 

[Pierce Manhammer]

My years is off a great start day trading, averaging $1,200 profit a day. Fingers cross and hope I don’t get those urges to size up

Not bad. What type of capital (or margins) you working with.

 

[Pierce Manhammer]

I’m just wondering what kind of capital is required? That’s all because that’s a decent haul. Your fluid capital could be $10k or $20.00…

 

[Aurora Demon]

To go to a good school by default you need a significant head start in life with family wealth. I'm assuming you mean US Ivy League.

1. Biglaw regularly requires 60+ hour work weeks, but yes they can make 200k as an associate, not after tax though unless in partner level probably.

2. I can believe that, but in Miami it is unlikely they are clearing 100k after taxes.

3. This is definitely believable.

4. Believable.

5. Believable.

Nevertheless, I am pretty sure none of them are 1st / 2nd generation immigrants, because almost all of these require significant head starts in life that are granted at birth.

Moral of the story is, none of these pathways are really accessible for 99.9% of the population. Still good that you uncovered that the upper tier of american society can flourish like no place else.

You need WAY more than that. You need rich parents. A stable non-abusive childhood. Both parents need to be college educated or higher, typically. I mean for a top 20 college. My cousin got into Stanford, Yale, and Harvard. He was badly abused like I was, but his abuse was about 15% as bad as mine. He went to a prestigious high school that had some of the best teachers in the country for high school topics. He learned college level topics while in high school. The school required you to apply and take an entry exam and jump through hoops.

His mom was the smartest person of our older generation, that's a huge advantage.

Being wealth is almost necessary.

I would like to say that I helped him significantly in getting into Stanford, I honestly believe I did, but no way to prove it. I introduced him to self-improvement. What's bad is, he saw pick up and seduction and purely manipulative and victiminizing women. But he's never done cold approaches. Later on, he came out the closet as gay.

To him: "Dude, you saying every girl I lay is a victim and that every woman wants a monogamous relationship and no woman wants to have casual sex, THAT IS SEXIST." I suspect my grandpa molested him. That probably contributed or caused him to be gay.

My family is really ****ed up. I need to get away from them. Both my parents are compulsive liars that tell our entire extended family EVERYTHING personal about me. Seriously.... Get a therapist, don't ruin my reputation and life.

Oh, you need a certain level of innate intelligence (IQ is the closest way to measure it). IQ is attempting to measure your G-load, which can't be measured, your G-load is your actual intelligence. I've spent over 100 hours researching IQ.

An IQ of 120 means you can DO ANY FIELD, ANY JOB, EVERYTHING IS OPEN TO YOU. That dosen't mean it will be easy.

IQ of 132 is genius, that's top 2%.

My IQ is probably between 125 and 131, I took an adult IQ test and scored 121 but I didn't know it was an IQ test (shows how smart I am) and was deliberately missing questions and taking slower on questions, because I was being tested for a medication, so I thought if I did too well I wouldn't get the med. I know I'm not a genius. My sister and cousin are geniuses. I'm close. But not quite there.

Your support network matters too. My cousin had/has 2 loving little sisters. My little sister is a literal sociopath. (I mean LITERALLY)
Off topic story: One of his little sisters was more courageous than all of us (everyone my age in my family was abused horribly). She was the only one to ever call 911. I never die because I thought they'd take my mom away. The police showed up and her mom never abused her again.

Gonna summarize some of the abuse, may seem like TMI, but it's normal for me and the culture I'm from: Chasing kids with kitchen knives, holding the knives to the kid's throat (ALL BEFORE 10 years old), turning on the stove and threatening to burn the kid alive, dragging them towards the stove, chasing with boiling water, threatening to cut off your **** while you sleep, making you eat garbage, locking you outside in the winter, etc. I don't want my race to be viewed negatively so I'm not sure I should say. Although maybe I did in another post... lol. Being molested, as far as I know my cousin and I are the only ones who were molested. Worst part, when telling people, nobody believed us. Also, whenever abused, there was either no reason or a stupid reason (you're eating slow, which means you won't grow up to be tall, so you won't get married, so I won't get grandchildren, then beat the **** out of me).

It had its pros though. I understand true human suffering and have done a LOT of community service and volunteering. Especially with genocide and human rights. I met a guy who was from Africa, he escaped a genocide, and experienced atrocities, we clicked right away, human suffering is human suffering. It made me more compassionate. I will always spend a portion of my resources and time and energy volunteering and trying to make the world a better place.

****, went off topic.

Either having tutors hired for you or your parents can tutor you, that is huge for people who get into ivy league.

I am uncertain if there's any correlation between study drugs and chances of getting in. My cousin never took them. If anyone is reading this and hasn't taken them, don't start. It's a horrible rabbit hole to go down.

Hmm... Having great mentors. I have those now, but not in high school. My cousin has millionaires and college professors and such as his mentors in high school.

Now, I have similar, millionaires, world class pianists, Ivy league grads, world class weightlifters, world class competitive video gamers (I mention him because he is so ****ing good at the game, he was probably the best in the world for over 10 years). World of warcraft. Also, never play that game. It does nothing to enhance your life.

Hmmm... My cousin also mentioned tricking himself into studying harder and working harder. He imagined his sisters poor and failing and unable to attend college so he put himself in a very painful state to drive himself into working hard. I can't do that, because the scenario I know isn't real.

 

[Aurora Demon]

They just go to the gym to mess around, hog machines and parking spaces. In addition, places like LA fitness promote the bring your buddy system, so it’s usually 3 per 1 member in that gym.

Go during off hours. Don't waste time. When I was actively working out, I worked out 2 hours, 5-7 days a week, alone usually, no music, 1-2 mins between sets. You want results? Don't mess around.

ALso, pro tip, consume a protein shake within 5-10 mins after you finish your work out, the less time the better.

 

[Aurora Demon]

I go to Equinox and if I couldn't afford it I would probably stop going to the gym. Gen Z and everyone is obsessed with the gym now to the point LA Fitness and Planet Fitness are a pain in the @$$ to go to unless you wake up at the crack of dawn or go late at night.

Wait, I'm gonna start another thread about gyms.

 

[BoostedArrow]

Inspired by @Solomon

Cold approach is very foreign to them.

I met the attractive friends I did while cold approaching at venues and incorporating them into my sets. I even cold approached in front of some successful guys. Most guys do not do this at all if they are successful or attractive. In fact, for the most part it is almost unheard of. So many of them are used to meeting women naturally or through the apps that you would never find them doing things like daygame.

What do you mean with "naturally" if not via approaching. What do they do when they're out in bars?

 

[BeExcellent]

So, at the age of 30 you were making 150k in around '99/2000 with a regular paying STEM career? Did you have anything past a bachelor's degree?

Being a millionaire does not mean you live a lifestyle like this guy is talking about. Decent sized homes in metro areas like Boston, NYC, LA, etc. are going to be close to a million dollars, if not more. Property taxes alone on homes like this will be in excess of 10k.

Even once cheaper states that people are/were flocking to (AZ, TX, FL, etc.) are now becoming comparable to the major coastal metros.

It wouldn't take much for some dumbass to completely squander something like this by living the lifestyle he is talking about. People that spent years building up their wealth don't do the **** he is talking about lol. If you have a home paid off and 6 figures invested at under 40 you are significantly above average. This is a spot I have been in for a while now with an average income and I guarantee there are a huge number of people that are hard working and decent people that would kill to be in the spot I'm in.

Forgot about this thread.

Yes. Starting around age 29 I started earning over 150K annually. Keep in mind I'm now 55. And I earn closer to 325K give or take in any given year now, which now includes rental income.

So if we take an average of 200K annually x 26 years? That's over 5.2M earned over that quarter century or so.

I hold a BS in a science and a BA in English (that I earned concomitantly in the same 4 year span.)

I married at 30, had 3 kids, afforded a stay at home spouse, paid for private school and built a rental property portfolio during that timeframe too.

Here are some other things I did (which are different than the majority of other people, and indicative of contrarian thinking):

1. Worked remote in my STEM career since 1999.
2. Used business travel to shop various RE markets after hours.
3. No expensive vacations or new cars in my 30s or early 40s (too busy setting $ aside for next property).
4. Lived well under my means (to set aside $ for property).
5. Saved & bought properties for cash in small markets (someone has to live there; those people are paying someone rent).
6. Avoided divorce rape through rational negotiation.
7. Moved my family out of a major metro to a small market where I earned the same high income but my income went 3 times further.
8. Deployed debt wisely and paid it down or off quickly. I am 75% free & clear on a portfolio of 25 properties.
9. Buy many things, including high end clothing, second hand at a steep discount. Nobody knows things were bought second hand.
10. Cashed out my retirement assets from the financial markets, took the tax hit years ago and used that money to buy income RE and build residual annual income.

Moral of the story: Delayed grarification, discipline, long range thinking.

Result: Millionaire net worth whilst paying for 3 kids and a family. Comfortable lifestyle I can enjoy, and along the way my kids learned work ethic, character and thrift while observing me. They know how hard I worked to provide for them the nice lifestyle they enjoyed. They are appreciative and preparing to take flight as responsible adults in their own lives.

I can retire tomorrow and live on my rental income if I choose to or need to. My goal was to be able to create a passive income stream to replace that 150K plus annual income stream. I've done that. Now I'm still working in STEM because I'm good at it, the travel perks allow us to ski & go places & I'm helping my kids with higher education (as my father did for me).

Now I drive a high end car (bought 2nd hand) but still live well within my means.

It can be done.

People have asked me over the years if I'd consider getting a masters or doctoral level degree. My response? Why? I'm already out earning many of those people with *just* a bachelors. Additional degrees were never worth the additional costs coupled with the loss of earnings over the years it would take to obtain more advanced degrees.

Contrarian thinking in the right direction. Makes ALL the difference.

 

[CornbreadFed]

Go during off hours. Don't waste time. When I was actively working out, I worked out 2 hours, 5-7 days a week, alone usually, no music, 1-2 mins between sets. You want results? Don't mess around.

If I go to the gym past 8pm, I have issues falling asleep. I am not an early morning person either so before 6am is not suitable and plus I will consume more calories with this schedule. My gym is reasonable at the optimal time for my schedule and body. In addition, I have zero desire to look like I am competing for a reward.

ALso, pro tip, consume a protein shake within 5-10 mins after you finish your work out, the less time the better.

I hate protein shakes lol.

 

[Dr.Suave]

People have asked me over the years if I'd consider getting a masters or doctoral level degree. My response? Why?

For yourself, to expand your horizons. A post graduate degree gives people a broader perspective. Its not necessary, especially for succesfull people such as yourself, but its cool. Now that your kids are all grown up, you have a healthy relationship, and you have literal millions of dollars, it could be a good time to take on a new personal challenge.

I'm already out earning many of those people with *just* a bachelors.

Not the point, old friend. Its not about the money. Imagine someone with a post graduate degree more or less mirroring your statement: "Why would I want to increase my income and net worth? I already academically out-rank my boss and many of those millionares"

If in spite of everything I just said, a post gradute degree is not for you, that´s ok. But hopefully I gave you some food for thought.

 

[BackInTheGame78]

They also cut their losses and don't worry about how much they've already spent on it or try to recover their losses, they move on to a new and better opportunity and stop wasting their energy and resources on this one.

Same goes for women or any other area of your life.

 

[CornbreadFed]

I live in Fort Worth, make six figs and its very comfortable, however, yes COL has increased.

six figs comfortable in most places in the US excluding the obvious places. I would imagine Fort Worth is cheaper than Dallas too?

 

[BeExcellent]

For yourself, to expand your horizons. A post graduate degree gives people a broader perspective. Its not necessary, especially for succesfull people such as yourself, but its cool. Now that your kids are all grown up, you have a healthy relationship, and you have literal millions of dollars, it could be a good time to take on a new personal challenge.


Not the point, old friend. Its not about the money. Imagine someone with a post graduate degree more or less mirroring your statement: "Why would I want to increase my income and net worth? I already academically out-rank my boss and many of those millionares"

If in spite of everything I just said, a post gradute degree is not for you, that´s ok. But hopefully I gave you some food for thought.

Fair enough, but if it's not important to me why bother? To impress others? Pass.

I study, read & immerse myself in varying interests and subjects without the cost or having to be on someone else's curriculum or schedule. Nevermind the expense. I was accepted to medical school years ago. Chose not to go. I have more freedom than the vast majority of physicians, and comprable income. Best of both worlds.

I respect others who have pursued higher degrees than I have, I just see no need myself to do that at pushing 60. I'd rather study, write, travel & create as I please. I speak at RE investment conferences some; I present in my own scientific industry as well. I contribute here, in case someone finds my perspective useful. I mentor others in real life (including some MD and PhDs).

The advanced degree is just not my jam, personally.

 

[DreamAgain]

For yourself, to expand your horizons. A post graduate degree gives people a broader perspective. Its not necessary, especially for succesfull people such as yourself, but its cool. Now that your kids are all grown up, you have a healthy relationship, and you have literal millions of dollars, it could be a good time to take on a new personal challenge.


Not the point, old friend. Its not about the money. Imagine someone with a post graduate degree more or less mirroring your statement: "Why would I want to increase my income and net worth? I already academically out-rank my boss and many of those millionares"

If in spite of everything I just said, a post gradute degree is not for you, that´s ok. But hopefully I gave you some food for thought.

Much easier to say you know something by teaching yourself versus someone potentially grading your subpar work and bruising your ego.

 

[Solomon]

First of I gotta say @sangheilios buddy you were right, I gotta publicly give you, your props mate!

One of the guys I knew, made a lot of money in crypto (he claimed 30 million a year) I spoke about him here in this thread
This guy was always rolling in Bentleys, Aston Martins's, going on expensive vacations on some Dan Blizerain shyt with a group of 6 girls, lived in one of the most expensive areas in the city etc

His story was he got in 2012 early as fucc and turned 5K into 10 million
We would talk about crypto and the guy seemed to know his stuff, there were no red flags. He was known by everyone, had a solid reputation, and also had some legit businesses (he owned a mining farm in Wisconsin)
Well I hadn't heard from him in a while come to find out from a girl who I have done some business with and also knows him
He was a "Tinder Swindler" scamming rich old women and then funneling the money into crypto etc. He got caught up by the feds, for wire fraud (1.6 Million) scamming a rich old lady lmfaoo. He's currently in jail awaiting sentencing

The crazy part is, the guy seemed like a genuine good guy I never got scumbag or scammer vibes from him. He never asked me for anything. I'm honestly still shocked, the only redflag was that he was a big simp, always tricking off money on women outside of that I had no clue. Crazy I'm shocked as I'm typing this

 

[HaleyBaron]

First of I gotta say @sangheilios buddy you were right, I gotta publicly give you, your props mate!

One of the guys I knew, made a lot of money in crypto (he claimed 30 million a year) I spoke about him here in this thread
This guy was always rolling in Bentleys, Aston Martins's, going on expensive vacations on some Dan Blizerain shyt with a group of 6 girls, lived in one of the most expensive areas in the city etc

His story was he got in 2012 early as fucc and turned 5K into 10 million
We would talk about crypto and the guy seemed to know his stuff, there were no red flags. He was known by everyone, had a solid reputation, and also had some legit businesses (he owned a mining farm in Wisconsin)
Well I hadn't heard from him in a while come to find out from a girl who I have done some business with and also knows him
He was a "Tinder Swindler" scamming rich old women and then funneling the money into crypto etc. He got caught up by the feds, for wire fraud (1.6 Million) scamming a rich old lady lmfaoo. He's currently in jail awaiting sentencing

The crazy part is, the guy seemed like a genuine good guy I never got scumbag or scammer vibes from him. He never asked me for anything. I'm honestly still shocked, the only redflag was that he was a big simp, always tricking off money on women outside of that I had no clue. Crazy I'm shocked as I'm typing this

I don't know why you were surprised. He was a tricker. They are never good guys.