Reply to I make so much money my whole concept of money is distorted and it’s hard to relate others anymore

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[quote=Anonymous]I have a friend who recently went from $60K/year graphic designer to $5m+ due to crypto currency. The vast majority of his friends are artists who live a hand to mouth existence.

He literally has no one to talk with about this. We have a few other buddies who also made big money on crypto, but they were already working in finance and living the wealthy life.

I’ve advised him to let the money sit for a year and figure out what he wants to do. The only big purchase he made was $50K new Jeep. He recently moved out of his rental loft (with no bathroom or a real kitchen) and began renting a modest bungalow. He hired a good tax accountant who specializes in managing large unrealized gains.

The hardest part, in my view, is that he quit his job. I really don’t blame him; he had a sh#t job and a terrible boss. All his friends are working and so he has all this time on his hands. He has a dog, but no significant other or kids. He’s been having the most fun helping his friends with their art projects, helping them with commercial film/tv/fashion shoots. He’s helped underwrite a private dining supper club for one of his friends, which seems to be taking off.

I now understand why country clubs exist - it’s for rich guys who don’t work to sit around and fill their time. You’re around other people in the same predicament. But, honestly, work gives us a purpose. Even my friend appreciates that and he’s trying to figure out the next step in his career.

In short, try to keep yourself grounded. The money gives you options, for sure. But really, you shouldn’t want to change your life all that much if you were already truly happy. Surrounding yourself with new, rich friends seems to bring its own set of massive problems - competition, overspending, engaging in riskier investments, etc. [/quote]

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