[DVY]

For the older or more successful gents, how has your life changed when you made more $ than you reasonably spend?

So the lifestyle progression goes something like this

Graduate broke/underwater.
Get job. Work hourly.
Open business. Make $. Pay off loans. Make investments.
Make more $. Open 2nd business. Make more $.
Cycle goes on.

Lets say your lifestyle costs are covered: own your own house, car is paid, good job/biz, investments on the side (401k), 2nd side hustle that more than covers all the boozing, women, travel and restaurants.

At this point, most of your real job "salary" goes into investments except for what you can write off.

Stress level is basically non-existent, as you pay people to cater to your life (maids, ubers, dry cleaners/wash and fold)

You have a closet full of nice clothes, luxury car, eat at nice spots, have $$$ in your pocket and a decent amount of girls (def no thailand or phils tho)

Travel docket is filled, but location independence is not possible w/this arrangement.

You've been through a few minor burn-outs and bounce backs...but this time its different- a growing sense of ennui (aka a feeling of listlessness and dissatisfaction arising from a lack of occupation or excitement). Isolation and detachment from your family and peers compounded further by the IDGAF about minor (to you) problems that your peers experience (losing $100, having a girl flake on you, or your phone bill going up by 5 dollars).

Whats the next battle/war? Whats the blueprint? What can I expect? Whats the major mis-steps (besides the big 3- drugs, marriage, and being scammed for a big amount)?

[fortysix]

I think at that stage you have covered maslows hierchy of needs so you start thinking big picture - you stop focusing inward and focus outward - seed investments in interesting startups, philantropy, mentorship, or having children. If you dont shift the focus from yourself you may eventually feel unfulfiilled.

[Rawmeo]

I have been in your situation, this is my roadmap so far:

- Studying
- Starting a business, failing
- Working my ass in a shitty hourly job
- Begging my bank to allow me to spend $500 more on my credit card because I've been eating only $1 cheeseburgers for the past days
- Having a talk with the right people
- Starting another business, going well
- Debts paid off, still making money
- Making very successful investments
- Moving to Thailand
- Having more money than I will ever need in my life

The first thing you should do is, back your ass, as having tons of cash will attract the wrong people. If you get married, make a prenup.

Every person reacts differently to getting loads of cash; people are like a bucket: if you have more money than you can manage, you will lose the rest if the bucket is full. Enlarge your bucket by reading about self-improvement, business, investments, real estate, etc. I can only speak for myself as nobody will go through the same feelings.

I feel like I have no more sympathy for less successful people, and less tolerance for people who complain about their fate, as I worked my ass off to change my fate. I also realize that being poor is surviving rather than living.

About future expectations, you should expect to life a very healthy and pleasant lifestyle if you continue that way.

And BTW, congrats on that!

[nmmoooreland20]

^^that covers it

Edit: (se7en's post)

[RichieP]

Rawmeo that's awesome.

What would you say were the 2-3 biggest factors in the failure of your first business, and conversely, the biggest 2-3 factors in the success of your later business?

[zoom]

(05-26-2016 01:25 PM)Rawmeo Wrote:  

I feel like I have no more sympathy for less successful people, and less tolerance for people who complain about their fate, as I worked my ass off to change my fate. I also realize that being poor is surviving rather than living.

I have been starting to feel the same way. How do you go about networking and making friends with successful people when abroad?

[marty]

I don't really understand where OP's coming from. Making money shouldn't be the most important part of your life. You can set goals regardless of how much money you have or how many amazing businesses you have created. You can always learn new skills or find new hobbies (foreign languages, playing an instrument, hunting, scuba diving or anything that strikes your fancy).

Having more money and material possessions dom't really make you happier. If that were the case people would be several times happier than let's say a century ago. That is clearly not the case.

Money should provide freedom. Freedom to do whatever you want to do. But you have to find what it is.

[lavidaloca]

(05-26-2016 01:25 PM)Rawmeo Wrote:  

I have been in your situation, this is my roadmap so far:

- Studying
- Starting a business, failing
- Working my ass in a shitty hourly job
- Begging my bank to allow me to spend $500 more on my credit card because I've been eating only $1 cheeseburgers for the past days
- Having a talk with the right people
- Starting another business, going well
- Debts paid off, still making money
- Making very successful investments
- Moving to Thailand
- Having more money than I will ever need in my life

The first thing you should do is, back your ass, as having tons of cash will attract the wrong people. If you get married, make a prenup.

Every person reacts differently to getting loads of cash; people are like a bucket: if you have more money than you can manage, you will lose the rest if the bucket is full. Enlarge your bucket by reading about self-improvement, business, investments, real estate, etc. I can only speak for myself as nobody will go through the same feelings.

I feel like I have no more sympathy for less successful people, and less tolerance for people who complain about their fate, as I worked my ass off to change my fate. I also realize that being poor is surviving rather than living.

About future expectations, you should expect to life a very healthy and pleasant lifestyle if you continue that way.

And BTW, congrats on that!

What is it you did to suddenly make such a large amount of money? I only ask because I read in your past posts you started out as a customer service rep a couple years ago in Bangkok and then seemed to be flipping bitcoin?

Congrats on the success.

[Sandstorm]

(05-26-2016 03:26 PM)marty Wrote:  

I don't really understand where OP's coming from. Making money shouldn't be the most important part of your life. You can set goals regardless of how much money you have or how many amazing businesses you have created. You can always learn new skills or find new hobbies (foreign languages, playing an instrument, hunting, scuba diving or anything that strikes your fancy).

Having more money and material possessions dom't really make you happier. If that were the case people would be several times happier than let's say a century ago. That is clearly not the case.

Money should provide freedom. Freedom to do whatever you want to do. But you have to find what it is.

Yeah but for me, worrying about the future (money) has an impact on my current happiness. I can't enjoy hobbies if I think I should instead be concentrating on making a secure future for myself (and a future family which costs literally millions to do right)

Scuba? Expensive. Hunting? Expensive.

Want to do all those regularly, plus skiing, sky-diving, learning to fly a helicopter, owning a yacht........... this shit costs a lot of money!!

I partially agree with what you are saying but I don't think the world is secure enough anymore to take that viewpoint. But that is, MY viewpoint.

[RichieP]

^those seem like expensive hobbies and toys!

Personally I dig really low-cost pursuits I can sink my teeth into. Learning languages, physical skills, martial arts. If I was stashing alot away from Biz, I'd probably just travel slow and cheap, learn languages, take online academic courses that excite me, do BJJ, train up skills cool like public speaking, etc etc.

[TheBMan]

So two years ago I was broke as a joke. Credit cards maxed out, asking my mom for about $1k a month just to pay my credit card bills and put some gas in the tank. I was one year into a new business/career w/a realistic 2 year period before i started making anything. Right as year 2 ended I got a decent little paycheck - about $45k. It felt like I hit the lottery. My 3rd year I got a check for $100k and ended up netting about $250k. Trust me, I realize there are lots of dudes making much more then this, but after living like such a peasant that mentality becomes somewhat ingrained in you. Its like the people who were raised during the depression and stuffed millions in their mattress and counted their pennies. You do not forget what it was like having $3 in your checking account and 20k in credit card debt. But as the OP said, you definitely dont sweat the small stuff anymore and I've told many people that 'worst case' scenario everything went to hell tomorrow I could live comfortably in Eastern Europe for several years. That definitely makes it easier to sleep at night. I can say over the last six months I have noticed myself feeling more charitable/sympathetic towards people who are going through hard times, and I can see how the super rich become more involved in charity.

[jake1720]

(05-26-2016 05:32 PM)TheBMan Wrote:  

So two years ago I was broke as a joke. Credit cards maxed out, asking my mom for about $1k a month just to pay my credit card bills and put some gas in the tank. I was one year into a new business/career w/a realistic 2 year period before i started making anything. Right as year 2 ended I got a decent little paycheck - about $45k. It felt like I hit the lottery. My 3rd year I got a check for $100k and ended up netting about $250k. Trust me, I realize there are lots of dudes making much more then this, but after living like such a peasant that mentality becomes somewhat ingrained in you. Its like the people who were raised during the depression and stuffed millions in their mattress and counted their pennies. You do not forget what it was like having $3 in your checking account and 20k in credit card debt. But as the OP said, you definitely dont sweat the small stuff anymore and I've told many people that 'worst case' scenario everything went to hell tomorrow I could live comfortably in Eastern Europe for several years. That definitely makes it easier to sleep at night. I can say over the last six months I have noticed myself feeling more charitable/sympathetic towards people who are going through hard times, and I can see how the super rich become more involved in charity.

I just graduated college and got a new engineering related sales job. I know exactly what you mean.

[Captain Gh]

(05-26-2016 05:32 PM)TheBMan Wrote:  

So two years ago I was broke as a joke. Credit cards maxed out, asking my mom for about $1k a month just to pay my credit card bills and put some gas in the tank. I was one year into a new business/career w/a realistic 2 year period before i started making anything. Right as year 2 ended I got a decent little paycheck - about $45k. It felt like I hit the lottery. My 3rd year I got a check for $100k and ended up netting about $250k. Trust me, I realize there are lots of dudes making much more then this, but after living like such a peasant that mentality becomes somewhat ingrained in you. Its like the people who were raised during the depression and stuffed millions in their mattress and counted their pennies. You do not forget what it was like having $3 in your checking account and 20k in credit card debt. But as the OP said, you definitely dont sweat the small stuff anymore and I've told many people that 'worst case' scenario everything went to hell tomorrow I could live comfortably in Eastern Europe for several years. That definitely makes it easier to sleep at night. I can say over the last six months I have noticed myself feeling more charitable/sympathetic towards people who are going through hard times, and I can see how the super rich become more involved in charity.

Damn congrats on the success my friend! You definitely paid your dues. I just decided to fallow on a little business plan as well... and if I'm able to generate maybe 20% of what you did... I might get arrested due to dancing but naked in the streets

[DVY]

(05-26-2016 03:24 PM)zoom Wrote:  

(05-26-2016 01:25 PM)Rawmeo Wrote:  

I feel like I have no more sympathy for less successful people, and less tolerance for people who complain about their fate, as I worked my ass off to change my fate. I also realize that being poor is surviving rather than living.

I have been starting to feel the same way. How do you go about networking and making friends with successful people when abroad?

I stick to the high-end. Education and values are more similar with the elite because they are socially and culturally more similar to us...many are raised in the west, went to school abroad, travel abroad or do biz abroad.

I got flamed for this on one of the travel threads...but now I have a seed network of a few people that I got close with and it grew over the last year when I went to spend more time w/them.

[TheBMan]

(05-26-2016 07:14 PM)jake1720 Wrote:  

(05-26-2016 05:32 PM)TheBMan Wrote:  

So two years ago I was broke as a joke. Credit cards maxed out, asking my mom for about $1k a month just to pay my credit card bills and put some gas in the tank. I was one year into a new business/career w/a realistic 2 year period before i started making anything. Right as year 2 ended I got a decent little paycheck - about $45k. It felt like I hit the lottery. My 3rd year I got a check for $100k and ended up netting about $250k. Trust me, I realize there are lots of dudes making much more then this, but after living like such a peasant that mentality becomes somewhat ingrained in you. Its like the people who were raised during the depression and stuffed millions in their mattress and counted their pennies. You do not forget what it was like having $3 in your checking account and 20k in credit card debt. But as the OP said, you definitely dont sweat the small stuff anymore and I've told many people that 'worst case' scenario everything went to hell tomorrow I could live comfortably in Eastern Europe for several years. That definitely makes it easier to sleep at night. I can say over the last six months I have noticed myself feeling more charitable/sympathetic towards people who are going through hard times, and I can see how the super rich become more involved in charity.

I just graduated college and got a new engineering related sales job. I know exactly what you mean.

The best advice I can give (or the rest of you youngsters making some coin) is to put something away because you will go through hard times. I just bought a nice car, but it was 3 years old, very well maintained, and took a huge depreciation hit already. The monthly payments wont make much of a dent. Dont live above your means. If you are living paycheck to paycheck you are never more then one bad luck/unforseen event away from being homeless or crashing with friends/parents. I got a little lucky because I had one deal take me from minimal savings to 100kish over night, but build your nest eggs. Having 100k in the bank certainly isnt "fuck you" money, but it does mean you have some cushion, some peace of mind, and most importantly the freedom to leave if you hate what you are doing or dont have the ability to do it anymore. You may thing you are invincible, shit cant happen to you, but you have to look at your situation and say "what happens if I dont get a paycheck for 2 months, and if the answer is "i'm fucked beyond belief" focus on your savings, not shiny new shit you really dont need.

[Rawmeo]

(05-26-2016 02:40 PM)RichieP Wrote:  

Rawmeo that's awesome.

What would you say were the 2-3 biggest factors in the failure of your first business, and conversely, the biggest 2-3 factors in the success of your later business?

The first failure, like most failure, was my fault. Due to not having the proper mindset, and making poor management decisions, for example, skipping some meetings to go meet a girl (I didn't get laid BTW). Everything eventually went downhill, and I waited too long before pulling the plug.

As for the later business, I was a bit older and talked with the right people. I got mentored by successful people who told me how to do things. I sometimes felt their advice was unnecessary and BS, but still followed it (blind confidence) and got successful.

Another piece of advice I can give is: Never take financial advice from someone who makes less money than you.

[RatInTheWoods]

Being cashed up has its drawbacks.

You loose that hunger, and things loose their value.

The highs get smaller. There is less to get excited about. You can have want you want, when you want it, but things loose their value because they are easily obtainable.

You keep working and earning more than you need, just to avoid the fear of the hedonistic collapse if you loose discipline.

Enjoy the hungry struggle years, because the rich easy days are not as awesome as you think they are going to be.

[Ice]

(05-27-2016 12:22 AM)Rawmeo Wrote:  

(05-26-2016 02:40 PM)RichieP Wrote:  

Rawmeo that's awesome.

What would you say were the 2-3 biggest factors in the failure of your first business, and conversely, the biggest 2-3 factors in the success of your later business?

As for the later business, I was a bit older and talked with the right people. I got mentored by successful people who told me how to do things. I sometimes felt their advice was unnecessary and BS, but still followed it (blind confidence) and got successful.

Another piece of advice I can give is: Never take financial advice from someone who makes less money than you.

Hey Rawmeo, congrats on your success.

Could you maybe explain a bit more in detail what these successful people told you, i.e. how to do things etc. - what kind of advice were they giving you? I would be very interested to learn more about that.

Great data sheet on wife hunting in Thailand btw, +1

[Rawmeo]

The advice is mainly related to specific fields such as stocks and other specific business ventures. I also got some motivational shit, but IMO, motivational shit should be reserved to beginners.

Most people who begin in the business domain will need to learn about motivation in order to be able to push harder, not give up, and all the stuff we ever heard. But the old dogs in the business area don't need that, as it's just a part of their personality. Once you can get in the proper mindset, things tend to get smoother.

[Oneeyedjack]

(05-26-2016 12:41 PM)DVY Wrote:  

Whats the next battle/war? Whats the blueprint? What can I expect? Whats the major mis-steps (besides the big 3- drugs, marriage, and being scammed for a big amount)?

Retirement was a two-three year process for me. From being master of the universe to not having a long term goal and daily routine was a difficult transition. I felt like I was back in high school and collage, lost and not knowing what to do with myself.

Did a lot of traveling
Learned about stocks/bonds and made some investments. After a year realized that it was not what I want to spend my time doing.
Made a number of small angel investments. The networking and deal making was fun but was not enough to keep me interested long term.
Became majority owner to a couple of startups. Really enjoyed the planning and strategizing. But once it became operational I had no real responsibilities. Realized that it was the hands-on, day-to-day operational stuff that I missed.

Then one day my daughter told me: "You can do anything you want, it doesn't even have to be income generating. You don't need the additional income." The key for me was accepting that not being productive (income generating) was not a bad thing. That not having goals is perfectly ok.

Now I find myself helping out a lot of family and friends. I call it the family success tax, which is just fine. Started a charity and it is very gratifying to impact peoples lives in a positive way. Full disclosure - When I meet new people and they ask what I do, i much prefer to say that I work with a charity rather than I don't do shit all day.

scams - No worries, just don't lose money that will make a dent on your lifestyle.

[samsamsam]

I would be cautious of hubris. Of believing you can't do anything wrong. Been there done that. Even those most level headed can get caught up with it.

[lavidaloca]

(05-27-2016 08:28 AM)Rawmeo Wrote:  

The advice is mainly related to specific fields such as stocks and other specific business ventures. I also got some motivational shit, but IMO, motivational shit should be reserved to beginners.

Most people who begin in the business domain will need to learn about motivation in order to be able to push harder, not give up, and all the stuff we ever heard. But the old dogs in the business area don't need that, as it's just a part of their personality. Once you can get in the proper mindset, things tend to get smoother.

Whats your background story? You went to Bangkok 3 years ago as a customer service rep. Now you have a $300,000 car in Bangkok. Without context it doesn't make a lot of sense. Vague stuff like buying stocks and great investments read like what I told people when I was younger and they asked how I had certain possessions, how I could fly away on weekend trips regularly etc. despite having a trust fund.

Based on your posts you are early 20s. Which means you hit it large out of left field not someone who gradually grew a business or property empire. I have to be honest and say from reading your posts it sounds like you had a large windfall (i.e. inheritance, lottery, poker tournament victory) as opposed to someone who built an exceptionally lucrative business. There is nothing wrong with this.

I think one eyed jack said it best in one of his past posts...

"Unless you win the lottery or inherited the money, the only way to have the liquidity to buy a supercar is through long hard work (theres also graft and corruption but thats another thread). If you want a world class career with world class income, then you will have to invest the time and effort. It takes many many years to build a business that can generates excess cash flow to buy anything you desire."

I can go buy a new lamborghini or ferrari tomorrow but I wouldn't personally feel comfortable discussing on the topic "making more $ than you can spend" as while I net 6 figures from my business I don't make the kind of money I can't spend and I certainly wouldn't consider buying a supercar.

The people who make this type of the money on the forum are almost all going to be 40+ guys like Tokyo Joe, Gringuito, anonymous. Not early 20's guys that make their money "entirely online" in Bangkok. I don't doubt you have what you say you have. I just doubt the source.


After the whole Nasa debacle, mcqueen etc. I think people need to step up when they doubt things.

With that said I have really liked your posts in relation to Thailand wife hunting and how to getaway with cheating.

I'll probably get hated for this post but I'm pretty confident I'm not the only one who thinks this.

[pitt]

I totally understand you lavidaloca but he probably doesn't want to disclose how he made this money and he doesn't have to.

[Rawmeo]

I understand your point of view, lavidaloca. If you want to know more you can drop me a PM, nothing secret there, but we all value our privacy on a public forum.

[skptc]

I know Rawmeo's story and it is atleast plausible... I won't go into much detail but, according to him, he speculated on a particular asset at the right time...