Being a Billionaire Is Something Everyone Dreams Of. But Here Are 10 Reasons Why You May Not Want To Become a Billionaire.
Hello Aluxers! Everyone wants to be a billionaire right?!
But the more we thought about it, the more we realise most people didn’t really take the time to identify the strings such wealth comes with.
We believe everyone should build wealth in order to obtain freedom, but there are some things one should prepare for.
By the end of this piece, we aim to explore the different ways an abundance of money might negatively impact your life.
As usual, here is the video version of this article:
With that out of the way, lets move forward with the article.
It Will Take All Your Time, Energy & Focus To Do It
Billionaire is such a big goal that it can take between 20 to 50 years to get there.
The average age of billionaires is 66 years old. A very small percentage get there before the age of 40 and it involves incredible tech, money, luck and timing.
Here’s something nobody wants to hear:
Building wealth is a lengthy, boring and tiresome process!
Your brain never stops working. You are constantly in a state of stress and this happens over multiple decades. Everyone who’s an entrepreneur knows that when you lay in bed at night, the brain keeps going… to a point where you must force yourself to sleep.
There’s this important difference in the scale of the target, between millionaire and billionaire.
1 million seconds is 11 days,
1 billion seconds is 31 years.
Sure.. you work hard, play hard… but all this stress is taking a toll on your mind and body.
If all you’re doing is playing for status, along the way you’ll realise it’s not worth it.
You Worry About Your Kids & Family More (Not Less)
Everybody worries about the members of the family, but the rich have even more to worry about, because there’s a lot more at stake.
Wealth puts a big red target on your back and people will use any means to get some of that wealth.
Beyond the level of physical danger such as kidnappings, you worry about fake friends or fake romance who are only interested in your kids for financial gains.
There’s also the idea of spoiling your kids, because fundamentally, We all want our kids to live better lives than we did!
But Sheikh Rashid of Dubai has a great quote saying,
“My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel”
It takes a while to understand it, but it’s the truth. It’s why most fortunes are lost in 3 to 4 generations.
The fundamental idea is that Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times!
In the cyclical nature of life continues. Making sure your kids grow up with true values and the purpose of instilling them with every generation is a must.
Everyone Around You Is On Payroll
The more your wealth grows the more people around you, your life requires. Almost all of them are on a payroll. Although you befriend most of them in time, there will always be an imbalance of power in your relationships – and no matter how close you get this imbalance doesn’t go away.
Most people won’t dare to tell it to your face when you’re wrong or do things that would displease you because it will affect their bottom line.
On a long enough work-time scale, You end up spending more time with your assistants than with your loved ones.
Even when you’re not around your paid staff, there’s still the target on your back.
Everybody Has an Agenda
There’s this funny anecdote we heard from a very wealthy individual that said:
Being a billionaire is like being a tall woman, blonde hair, long legs, big breasts – a perfect 10. The moment you enter a room, everybody there wants to screw you!
You’ll constantly question the motives of everyone you interact with, because history teaches you to be worried about all of them because you’ve been burned in the past.
It’s not clear immediately, but it doesn’t take long before the relationship eventually ends up at the money topic and how “they have the perfect opportunity for you”
This is why wealthy people seclude themselves at the top of high-rise towers, to put distance between them and those asking for money.
After $50 Million There’s Little to No Significant Impact to Your Life
What people actually want is the billionaire lifestyle… well, we have great news for you, the billionaire lifestyle barely requires 50 million dollars.
Sure, you don’t own a 500 million dollar yacht, but you can rent it.
You don’t need to have your own private plane to always fly private and your budget affords you to rent any home, anywhere in the world.
Roughly around the 50 million dollar mark, no matter where you live in the world you would still have the same lifestyle as someone who’s worth 250 million or more.
There’s a point in your wealth building journey where you hit a spending ceiling. Unless you make it your priority to burn through money, no matter how much you spend you’re still going to be ok.
50 million dollars earning 10% interest per year results in a spending budget of 5 million dollar every year… we’re guessing you could live well spending “only” 5 million dollars per year.
A while back we made a phenomenal video called 15 RULES that make you RICH & Your Life Easy. In it we break down exactly how the rich structure their spending, make their investments and you’ll find it super valuable.
You Become Out of Touch With Real Life
Interviewers love asking rich people the same trivial questions like: Do you know how much an EGG costs or a gallon of milk?!
Although the question is annoying, there’s actually some meat on that bone.
Building wealth requires super focused, tunnel vision on the situation at hand.
For extended periods of time you only know what’s going on in your industry and around your business. You rarely pay attention to the news or cultural events because you’re too busy building instead of learning the names of all the Kardashians.
It might not matter much who’s the current bachelor, but this out-of-touch phenomenon quickly expands into other, more important things.
How many of you know who their kids’ best friend is? What number, letter or class they’re in?
Because every decision you have to make has a lot at stake, trivial problems of other people seem non-significant to you, but these are to them.
This is especially true if you grew up with money.
You’re so distant from the way most people live, that your mind can’t grasp just how hard it is for everyone to do things that you take for granted.
People Will Think You’re Evil and Hoarding Resources
You’ll be criticized by people who don’t even know you.
We really wanted to address this argument, because there’s this hate going on towards the billionaire class.
For some reason, super-left wing individuals think that every billionaire out there, When they’re not swimming in the gold coin vault like Scrooge McDuck, has a secret agenda of ruining the lives of everyone in poverty in order to hoard resources for them.
These people do not understand basic economics.
Every single billionaire out there is a “PAPER BILLIONAIRE”. They own shares in companies that they built that are now valued by everyone else at incredible amounts of money.
In order to get those shares worth so much, you have to build companies and products that people find valuable enough to pay for.
In order to produce these products, you need to hire people at competitive rates, otherwise competition would hire them.
Nobody is sitting on billions of dollars in cash making paper airplanes and lighting cigars with hundred dollar bills.
Most economists agree that for every billion dollars a person is worth, their enterprise generates in excess of 10 billion dollars in value for the consumers out there.
Nobody is going around taking Grandma’s money away, you are actually the one who enjoys ordering things off amazon and arriving the same day – as if it were magic.
Politics Now Plays a Role in Your Life
No matter how much you want to stay out of politics, it will hunt you down and find you.
A billion dollar business is a blessing to the geography in which it finds itself, so the local council wants to make sure you don’t move your headquarters somewhere else.
The government wants you to keep creating jobs and doing commerce, because that’s how we’re keeping score of how rich a country is.
The business environment and the political world are – to some degree unfortunately – intertwined.
Why? Because politicians have legalised bribery in the form of financial support from corporations – they don’t call it bribery, in the US they call it lobbying, but the premise is basically the same. You give money to your politicians, help them get re-elected and when they do, they pass laws that favor or at least don’t harm you.
We’re in this very weird period in history where the political medium is driven by for-profit corporations looking out for their own best interests. Most countries where forms of lobbying are in play have essentially become corporatocracy.
As a billionaire, these politicians will come after your money and threaten your lack of support with harsh measures that could hurt your business and favor your competitors.
You’ll Be Compared to Elon & Jeff
We’ll put aside that for some reason the term billionaire has a negative connotation around the $14-for-an-avocado-toast generation.
For everyone else, money is what defines you now and since money and wealth are actually numerical, it’s easy to rank them.
The same thing they do with sports, they’re doing with money now. There’s a hall of fame, there are on-going rankings and so on.
Nobody cares you’ve made it in the NBA… how well do you stack against Jordan or LeBRON?
There will always be someone who makes more money than you, and even if you do make it at the very top, it’s just a matter of time until someone else overtakes you, since there are no limitations when it comes to wealth – especially now when governments decide to print more and more money.
It doesn’t matter how much you’ve done, in the eyes of everyone else, you should be doing more.
If you want to know who made the most billions last year, check out 10 People Who Made the Most Money in 2020.
It’s Only a Status Game
If you’ve been subscribed to us for a while, you know we encourage you to stop playing status games.
You want to build wealth with the purpose of being free from the game of money.
The moment you begin playing status games, you’re back in the game of money, where you need to show off. Your position in the social hierarchy is not determined by the number of digits before the decimal, instead it is by how happy and impactful you are.
Being worth 4 billion dollars and someone else being worth 5, doesn’t take away from you or make you less of a person than the other one. Once you cross a certain threshold money loses value, unless you’re looking to play the high-score game, where who you are connects to how much money you have… and what an awful way to go through life that is.
Build as much wealth as you want to, but be careful because at some point:
More money becomes just too expensive!
What’s the point of adding 5 billion to your 85 billion dollar fortune, if it means working under stress for the next 24 months of your life?!
This might sound ridiculous to the average person, whose brain can’t even comprehend the idea that one could work 2 years for 5 billion dollars, but remove a bunch of zeros and see where you end up.. If you were worth 850,000 dollars, would you work the next 24 months to add another 50,000?! It’s all about perspective.
At this stage of the game your assets are doing the work for you, so unless you genuinely want to work for the purpose of enjoyment or humanitarian progress, one has no reason to do so. You already won.
If you want to build income generating assets that eventually take you to financial freedom, we have an incredible video called: 15 ASSETS that MAKE PEOPLE RICH. Once you know what kind of assets generate wealth, you’ll stop playing status games and begin building long term, sustainable wealth.
Material Gifts Lose Value & Importance
What do you gift someone who has everything?!
You end up with those crazy packages of nothing you find on amazon, where you’re literally giving them just an empty package.
The only material things you still want are waaaay outside everyone else’s budget, so material gifts are out the picture.
The only thing left are personal experiences and truth be told, you’re starting to check those off pretty quickly since even those can be tied up to money as you can’t get lost with the love of your life on the streets of Florence without flying to Florence in the first place.
People don’t know what to get you so they get you random things that add more clutter than value to your life.
Finding True Love Is Almost Impossible
If you’re not one of the lucky few to find true love before the explosion of wealth, good luck finding that philosopher’s stone!
Not only you will constantly question the motives of everyone you develop romantic relationships with, but we, as humans, are bonded by our struggles and your struggles aren’t the same as everyone else’s.
We have now overcome the age of the trophy wife and most successful individuals look for a solid partner that can hold their own, and that’s where things get really complicated.
Less than 11% of the billionaires in the world are female.
That’s 1 female billionaire for every 9 male billionaires. Also, keep in mind that most of them are 60 years old.
What most billionaires choose to do is find someone who makes a great life-partner and hope that with time they develop a level of care that kinda looks like love.
You Feel Like You Lost Your Right to Complain
You can’t complain about anything when you’re rich. People out there have a different kind of problems than you do and they wished they were in your position; that’s why everything you complain about goes through the “ you rich tho’ “ filter.
What they don’t know is that In reality, it’s exactly like Biggie said: Mo money, Mo problems
Now because of your wealth, but because of how many pieces you’ve got moving around you and they’re all somewhat connected.
The only people left to complain to, are your super-close inner circle and other rich people – which is why most of these individuals play golf amongst themselves. They use it as therapy sessions.
Your Wealth Overshadows Your Other Characteristics
It doesn’t matter how multifaceted of an individual you are.. People will only see the money.
We are plury-valent people, we are more than one of our characteristics, yet because money is such an important part of our society people will always default to money in their characterisation of who you are.
This is especially true if you get the money first and then go after anything else. They see whatever your passions are as just a pet project where a rich person is throwing some money at for their entertainment.
Here’s some food for thought through a cultural example: Kanye went from artist -> to billionaire..
But would you see someone like Jeff Bezos, Bill Gates or Warren Buffet do it the other way around? Probably not. Even if they did a really good job at painting or acting, you’d still see them as a billionaire who paid their way to fame.
You Feel Isolated
We are 8 billion people on this planet right now.
As of making this piece there are only 2,755 billionaires in the world.
Your problems are different. Your choices are different. Your relationship is different. Everything about your life is different and no matter how much you’d like to say you didn’t change much, wealth has changed your environment, your decision making process and your relationships.
This is why they say it’s lonely at the top
Because most of your interactions outside of your safe circle are people asking for things from you, the body’s natural reaction is to withdraw, to isolate to safety. This is why billionaires are buying Hawaii piece by piece. They want to be left alone as far away from the bustle of the city as possible.
But despite all of these, achieving such levels of wealth allow you to push humanity forward in ways the governments lack the expertise or brain power to do.
Great wealth comes with great responsibilities – or whatever uncle ben said, so make sure to be a force of good in the world.
The more you think about the weight wealth will put on your shoulders, we’re curious to learn about how you, the Aluxer thinks about this, so we’re asking:
How do you think your life would change if you had a large amount of money? With a focus on the things you’d have to deal with.. We really want to hear from you in the comments!