a question for adults that consider themselves wealthy/successful..

14 comments

1. I read somewhere that more than half of millionaires got there the old fashioned way. Worked hard, saved more than they spent, and invested these savings well. Studying in to a lucrative field should help.

   Money however, is more about stability than happiness. Relationships of all forms is what really is needed, so don’t be some money stashing hermit, it is not the answer.

2. Keep away from drugs and expensive things like that which will just waste your money and time

3. – Work overtime
   – Budget
   – Learn a skill for your job or you plan to use in the next career
   – Always learn from others
   – Don’t buy the next best thing either cars or clothes
   – Buy a used car
   – Generally you can find a few simple things for free

4. Read: I will teach you to be rich by Ramit Sethi.
   This book significantly changed my outlook on money and how we can use it as tool to create a life we love. Check it out!

5. Live like you don’t have any money. (but do take a nice vacation once a year) Save consistently in an IRA and do not withdraw it until you are ready to retire. Learn about investing and do not hire anyone else to give you advice. Do it yourself. If you get a raise at work, take that raise and save it each paycheck.

6. Ok, I grew up on a farm and now and very successful in NYC in advertising.
   1) don’t let others tell you what your worth is – you’ll meet a lot of people who want to keep you down because they are down.
   2) work hard and network with people. That simply means, keep professional friendships open for opportunities
   3) cash flow vs investments – you need to divide your money into your budgeted cash flow to sustain life and then invest what you can, whether it be stocks or 401k, you’ll need that because
   4) capital is king – if you have money, you can do what you want. Make sure you watch you credit, because your access to cash depends on it.

   5) mind your friends – don’t hang out with people that don’t make your life better. Hang with people that have their head on straight. And no; that doesn’t mean with the cool guys or whatever, find unique people, travel and meet people.

   6) the more money you make someone, the more money you will make: I learned how to work with Amazon as a living, because there was a need for experts there. And I make my company millions of dollars, so they pay me well
   7) always show up – be present, be empathetic be yourself
   8) don’t beat yourself up for not saving a ton when you’re earlier in your career. When you’re making 50k, it’s hard to save. Early in your career you should spend no more than 2 years in a professional job and then you should either be promoted or move to a higher paying job. Once your making 100k, it will be much easier to save.
   9) people think living in NYC is a waste because it’s expensive. In expensive places, you can find deals. But, you will never find the kind of networking and opportunities abound for you, like it a large city. People also pay you more in NYC just because you live there.
   10) listen to your gut. You can read this shit all day, but you have to learn to trust you. Take calculated chances.

7. you said it.

   Your end goal is to live the life you wanted to live, to do all you said you would do and achieves goals.
   To simple enjoy what you have built. do that

8. Wealthy people value relationships over skills and tend to primarily network with other wealthy people. I’d say start hanging out with wealthy people, take their advice when possible and go into a high paying field that you’re good at, e.g. finance, engineering, entrepreneurship, etc.

9. Have the mindset to chase excellence, not people. Read the tips here, especially on the one on how to be genuinely busy in life and adding value to other people’s lives: https://www.reddit.com/r/socialskills/comments/trlexh/how_to_avoid_being_needy_or_stop_being_needy/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

10. I don’t consider myself wealthy but I’m pretty successful by my own standards at 26.

    Your mindset at such a young age has be believing you will be able to figure out the social aspect of this all on your own.

    My biggest advice to you is invest in a Roth IRA as soon as possible, like tomorrow. A lot of people neglect investing for retirement until they get older (mid 20s / 30s). If you start now in high school, you’ll be setting yourself up for a great retirement when all is said and done. You’ll be reaping a maximized amount benefits of all the hard work you’re embarking on.

11. Get a job work hard climb ladder good luck

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13. My advice (from someone who is not considered successful particularly) is to take time to decide what your path is, and do something you enjoy.
    I took a uni course based on my mums ideas of what I should do (something NHS based) and hated it. Dropped out and got stuck working in a minimum wage job. I now have my own business and don’t answer to anyone else, am happy and can pay the bills. Im good with that. But I often wish I had taken a year out after high school to think about what I wanted. Rather than be pressured by university deadlines. I should’ve done a course in a subject I enjoyed. Which would’ve opened the door as a graduate to lots of other things eg teaching.

14. it’s good to have goals and be ambitious, but take everything with you along the way and learn balance. money is very important, but how much u want to make and how u make it, are up to u and it can be a work intensive and mentally exhausting journey to build that up. so in the process, you will need fun and friends and family and hobbies and leisure and good times in ur life to keep you going. it’s very easy to get sucked into becoming a workaholic, but it’s important to realize that without balancing out ur work with well deserved fun and relaxation, not only will the quality of ur work suffer (since u will experience inevitable burnout), but u can begin to hate ur work too. so learning balance is very crucial.

    i’d also say that a realization that came to me is that oftentimes, we do things because we just think we want them so bad… but we don’t bother thinking what we’ll do when we get that thing and whether it will truly make us content people and carry long term satisfaction and fulfillment. it’s easy to get obsessed with achieving something, but it’s a lot harder to be satisfied when u actually achieve that thing. so ask urself before slaving away at ur work: is this what i truly want? is this worth the hassle? when i achieve this goal, will i be happy for five seconds and then forget about it? or will it be a source of longterm fulfillment? and most importantly, will this bring meaning to my life? when u see meaning in doing something, it becomes a lot easier, enjoyable, and satisfying, in the long term, to work at that task. so make sure you aren’t trying to achieve “success” by external standards, and rather, look intrinsically to see what success means to u and how u can achieve that. all the best !