
Multi-millionaire at 27. What I learned (2017) - gmays
https://hackernoon.com/multi-millionaire-at-27-what-i-learned-7df8153f5425
======
Phillipharryt
Interesting writeup, but I find in a lot of these "millionaire by age X"
stories the ego is far bigger than the bank account. It's nice to think a 500k
income is fuck-you money but it's not, you're still beholden to a lot of
people. If you have to stress about money (claiming being rich is a full-time
job sounds like stressing), you don't have fuck-you money.

I'm not talking down to writer, but having a proper money manager (not the
same as a stock broker) would alleviate a lot of the downsides of being rich
that he listed. Fortunately managers that used to only take enormously wealthy
clients are branching into lower wealth ones, so it's easier than ever to get
sound investment advice.

Not sure there's anything of great substance to take away from it.

~~~
Noumenon72
When I made $45k I had fuck you money. I could (and did) quit my job and spend
two years not working if I wanted to. I wasn't beholden to anybody at $45k, I
had my own apartment, health insurance, car, and no debt. You may not be
completely financially independent after one year at $500k, but you have the
human capital to make a minimum of $50k for the rest of your life, so you can
say fuck you to any job, any time.

~~~
Phillipharryt
You clearly didn't have fuck-you money. You could only quit your job for 2
years before presumably having to come back to work. I don't mean that in a
rude way, it's just clear.

Your last sentence is a little confusing, if you're implying you could use
your human capital and work, you're clearly going to be beholden to other
people, and can't say fuck you to "any job, any time". In addition to that,
we're back to the idea that 50k a year is fuck-you money, which it's not.

Long tangent incoming.

Fuck-you money is getting confused with a comfortable level of money. Most
people will never ever get close to fuck-you money. Fuck-you money is black
cards and reservations almost anywhere because you tip ludicrous amounts. It's
being told the plane is full so you just upgrade to first class (if you
weren't in there to begin with). It's being able to turn down any job because
you could easily live at the same comfort level without it. It's only working
because the work brings in stupid amounts more cash (that you probably can't
figure out where to spend) or it offers you more than that (influence,
stimulation). Just being able to say no to a job is not the same as that.

~~~
Noumenon72
I think the top definition of "fuck you money" on Urban Dictionary is better
than yours (although yours is second).

"The exact amount of money required in order to tell an individual or
organization to go fuck themselves without facing repercussions."

Keep the term confined to what it literally suggests and use "financial
independence" for never having to work again.

(I could have gone jobless another ten years or so, but that would be dumb
since I wasn't financially independent and would miss out on compounding.)

------
tdumitrescu
Followup by the same author, "I spent all of my millions. This is what I
learned": [https://hackernoon.com/i-spent-all-of-my-millions-this-is-
wh...](https://hackernoon.com/i-spent-all-of-my-millions-this-is-what-i-
learned-9975ab94c924)

------
rolltiide
That was really great, I could relate to a lot of that and I think it is
important people understand this while they feel trapped and aspire for luxury

Or before they outright say they aren't motivated by money as if more
enlightened than their peers

There arent real solution presented by this, just a timeless tale we can all
learn from

------
dawhizkid
Having money just gives you more choices. The paradox of choice, however, is
very real (at least speaking for myself) and often when you do find yourself
in a situation where you have a lot of choices you can easily end up confused,
anxious, and overthinking things.

~~~
mikorym
> the paradox of choice

What do you mean by that?

~~~
haser_au
An overwhelming number of options or choices can actually be a source of
anxiety, rather than giving you freedom to choose.

Imagine walking into a foreign supermarket, and having 100 different brands of
peanut butter, none of which you recognise. If you have a lot of money, all
options are available. If money is a factor, your choices are limited and
making the choice is actually easier.

[https://en.wikipedia.org/wiki/The_Paradox_of_Choice](https://en.wikipedia.org/wiki/The_Paradox_of_Choice)

------
privateSFacct
Consider giving to nonprofits - it doesn’t change the world but nonprofits are
actually pretty used to working w wealthy people so it can sometimes be a more
straightforward relationship.

Check out nonprofit in person and if you like what they do give unrestricted
funds.

If you want to engage more show up at their events

If you start giving plan to give the same amount or more for five years. Ask
for an annual report at most - no special reports or use of funds.

------
coderunner
Can someone explain what flagging an article means and why this one was
flagged?

