Rich People Syndrom

I cashed out 6% of my crypto (20,000$) so I got my initial out and a big profit and my bank account has never been so high. Literally just caught myself almost buying a 400$ business bag. I have to say, I need one that suits my suit but I went into this with like 50$ in mind. Should I treat myself for my first ever profit from investing or is this the beginning of a spiral into lavishly spending money and losing it all in a couple of years?

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>Should I treat myself...?
Enjoy never making it.

You can buy something nice, as long as you have the self-control to stop there. Save most of it for when you really need it or want to invest in something new.

Who cares you can always make it again

buy things that are considered assets with your money or improve the already existing assets you have
1. art
2. antiques
3. land
4. cars (can be classic)
5. some cases luggage
6. jewelry, watches, fine stones

clothes, food, over all recreational things with zero resale value is a waste of money. good example is a bike, you spend 5k on a bike, in 10 years is probably still worth 5k

American? How the fuck did you cash out?

Yeah the plan was to just have a little cash position and invest when something I am obverving crashes. I think I have the self control but the feeling of even considering something that expensive is completely new and I wouldn't have predicted it. That's why I'm spooked out what will happen when I start spending that money or even worse, when I make it for real (current 6 figure portfolio turns 7 or 8). So far I was frugal because I literally had no money except for crypto and now that I have a little cash my hands are itching to press buy.

experiences
material possessions

you will only think about one of these things on your deathbed

i just dropped 60k in home improvements, ill drop another 40k because 1, will see return in the end 2. its not depreciating 3. i live in my house and making my environment lush is important to me

I made 56k in the stock market this year plus my salary of 42k a year. I bought myself an iPad mini. It was on sale for $350 plus tax and tip.

German.
I study/work at a bank but I basically wear cheap suits and don't have a watch. Would you consider something like a new business bag and basically completely new wardrobe and a nice watch a good or bad purchase? I guess it's kind of an investment in myself because it would radiate more professionalism and confidence maybe. I'm not thinking about shit like buying a 1000$ coffee machine or sneakers/street wear. Thanks for the bike idea.

what coins? how'd you get that much?

great investments as people will trust you have your shit together. i always buy a new wardrobe at every new job because its a perception thing and i dont want old looking clothes. its important to maintain an image. For example, if you drive a Honda vs a Mercedes. One of those cars gives a certain perception thats required to maintain a certain level business. Its really hard to close a 1 million dollar plus deal driving a civic (also why i lease)

Develop the discipline to see your networth as an annual income at 4% draw. EG, the $1MM in your bank account doesn't really exist, all that really exists is an income of $40k a year. This is how you sustain your wealth, by understanding what portion of it you can spend annually while still growing thanks to investment interest.

Your $20k is really an income of $800 a year. Barely worth thinking about. Can poors who make $800/yr afford $400 executive handbags? If they can't, then you can't either.

allink LINK, what did you think?
thanks, yeah that's what I'm thinking. Although I think at my stage in life (I'm basically a freshman at 22 years old because I neeted it up and just traded crypto but now want to get into banking and got into a dual course program) I can't afford a car at all and I think it's not yet expected from me.

youtube.com/watch?v=MC57vFWolZc
watch that and then decide which side you want to be on

Don't, you'll slip into a spiral and end up fucked like the others. I've got $1.3m in my holdings and still live with my parents, have a bicycle, no rent and that's it.

Just get your existing suits tailored

for sure , you got time, good luck user.

i bought a classic car at 22 and invested my free money into that price has doubled in 10 years not bad but also not great, but i can also tell you i wouldnt drop 50K into a classic car now in my life so its basically priceless to me

A fool and his money

A1 advice
screenshotted

nice idea.

To add to this making it isn't suddenly spending like crazy, you don't need "stuff". Blind cooming to the latest balenciaga shoe is pathetic. Your money is a ticket to the time of others. Having the time of others is power.

Use that for business, politics, family. Never "stuff". Seeing anons twice my age with a tenth of the money splurging is embarrassing.

That’s called hedonic adaptation OP. Take care of your debt first and secure your future. Then you can do blow off of male hooker assholes or whatever degeneracy you are into.

Nah, fuck it.
You don't really need that bag, if you needed it, you would have bought it in right on the spot .

Don't let happy merchants fool you. Think about Bill Gates or Steve Jobs.
Expensive shit is nice but only if better quality/ performance goes along with the price.

depents on the bag mein freund. what bag do you have in my mind?
also: buy a 5-7k watch
it would level up your career, rich people look at wrists

Only pay as much as you need to for quality or utility but buying name brand bullshit for its ownsake is poor tier thinking. Everything you do or buy should be with the intent on maximizing value for what is being paid

This this this THIS. Your ASSETS have appreciated in value but your wealth has stayed the same. The right idea is to reinvest that 20k into a company that pays dividends and then roll the money you get off dividends back into that initial investment until you reach a point where you’re making 100k+ off of dividends every year. Then retire and live a comfy middle class life.

Take like 2.5k and buy 2 or 3 nice suits tailored and a mid tier watch under 1k. If youre in banking or finance they can tell the difference between off the rack shit and someone who takes the time to search for quality. Watches are judged heavily too. But thats at a higher tier.

Puretimewatch.io

Umm... I don't know which side you're advocating for but this guy comes across as subhuman filth

Just bought a mossberg mvp scout. Hunting moose this september.