Yaletown's $30K Millionaires

[Harvey Specter]

Saw this article on my FB feed, interesting take on the YT crowd.

Spend five minutes in any upscale restaurant or lounge in the downtown core and you may notice these guys too. You know the type; dressed to the nines in designer labels and expensive watches, surrounded by their entourage of slick friends and hot young women. They sit at their reserved VIP table, flaunting bottle-service vodka that’s been marked up by 75 per cent, enjoying the best nightlife the city has to offer. One look at these guys and you think to yourself: “wow…he must have it made”.

Until you realize they’re complete frauds, that is.

The issue of the $30k Millionaires, as they’ve been accurately labeled, is not a phenomenon exclusive to Vancouver. Spend time in the core of any major city and you’ll run into guys spending like they’re rolling in cash just so people think they’re rolling in cash. I even noticed a few of my girlfriends dating some, pairing off with guys who were bringing in $30k a year if lucky, but charging lavish nights out on three or four credit cards. Unfortunately, that’s typical behavior for these guys. Sure, some may have a house with 5 per cent down payment, but more often than not it’s most likely rented.

Assuming, of course, that these “established male professionals” are living independently to begin with, because behind those pricey sports cars and weekend party binges, these grown men are often still living on mommy and daddy’s dime. Or, if they’re real winners, they’re still living with mommy and daddy.

So why do men in our society feel like they have to live well above their means to create an illusion of wealth? Well, it probably has a bit to do with some pesky old-time attitudes that we just can’t shake. A man’s worth in our culture is largely defined by his position in the work world, and whether many like to acknowledge it or not, money, style and status still mean a lot. Instead of putting in the years of hard work and discipline to develop a truly successful career, though, many young men are trying for the “easy” route. Why strive for self-attained wealth when you can simply trick people into believing that you already have it, right?

Wrong. What these guys are doing might seem the easy way out at first, but they’re creating nothing but a world of trouble for themselves in the future. They have no savings, multiple debts and spend so frivolously that it would take a single missed paycheck for their entire financial structure to crumble. If these men simply took five minutes to assess their long-term financial future they would realize just how dangerous their living-in-the-moment approach to spending is. Money wasted on the illusion of wealth can be utilized in smart investments and personal development so as to build actual long-term wealth. In the end, it’s a sensible, unflashy lifestyle that could actually contribute to making these guys into the successful individuals they’re pretending to be.

Take my grandparents for instance. My grandfather was a labourer for most of his life and slowly worked his way up. Both he and my grandmother saved and invested as the years went by, living in modest homes, setting aside what they could and, with that money, making sound investments. By the time they retired, they were millionaires. Due to years of fiscal responsibility and living within their means, my grandparents were able to travel the world and live a comfortable, secure life for the remainder of their lives.

In the end, the saddest thing about these young men isn’t so much that they’re pretending to be rich, but that they’re so completely oblivious to the how pathetic it makes them look once their cover is blown. And it will, because they can’t keep up the façade forever. There’s nothing cool about living off of debt and borrowed money because your condo and luxury car is literally costing you every penny you have. That’s just plain stupid. It’s understandable for people to want money, recognition and status. They’ve been deemed the pinnacle of success in our culture for ages and we grow up hardwired to believe in their value. But there’s a massive difference between wanting a certain lifestyle and ruining yourself simply to pretend you have it. The $30k Millionaires are living proof that image is not everything; their attempts at being what they’re not ultimately come off as transparent, juvenile and self-destructive.

For those of us in tight financial situations (and believe me, there are a lot of us), we need to remember the importance of defining one’s own idea of success, not following a prescribed one. It’s fine to splurge now and then on something expensive you really want as a gift to yourself, but to have it affect every other area of your life is madness! Why spend crazy amounts on designer fashion and luxury cars if it means you can’t afford groceries? Why scrape by living in a flashy downtown apartment when you can live much more comfortably in one further away? If the people in your life who truly matter judge you for any of that, then I suggest you start finding some better friends. The world is rapidly changing, and if we as a generation don’t change our attitudes towards success and personal worth, we could all end up like the $30k Millionaires; surrounded by junk, buried in debt, and living a lie.

http://www.hushmagazine.ca/$30k+millionaires/blog/795/14/

[hal0g0dv2]

good read

Never understood people and there need to show off and be "high rollers"
In the end it will bite you in the ass
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[EmperorIS]

Bank Tellers.... they think they are actually bankers and made it in the business world because they can wear a suit to work.

[DEADBEA7]

BMW 3-series sales have never been better

[Tim Budong]

Only one line to say to those people, their "lifestyle" isnt a problem in my mind

Enjoy Life RESPONSIBLY is probably a message they need to understand

[Jassanova]

I think this kind of attitude has always been around but it has become much more prevalent because of the internet/social media. At the end of the day, the guy who only spends within his means comes out on top in the long run.

I have a friend who racked up 20K in debt which resulted in him declaring bankruptcy. He doesn't regret it, and all he has to show for it is a bunch of outdated audio/video equipment, and a lot of 'crazy stories'.

[radioman]

Is there a fine line between spending everything you have and enjoying life and being a fake millionaire?

[SB7]

Couldn't you just declare bankruptcy before or something? Those laws have changed now though right?

*edit*

I know your credit would be shot for years and you wouldn't be able to finance or do anything... But having a crippling amount of interest being paid on your debt is going to be nearly impossible to pay off with a 30k salary. 4 maxed out credit cards, car payments, rent, etc. Your royally fucked lol.

[Jason00S2000]

Why scrape by living in a flashy downtown apartment when you can live much more comfortably in one further away?

If you have to ask, you don't understand style, which is based on culmative experiences

[VrrM604]

i read it first as if there are 30K millionaires in Yaletown..lol

[BaoTurbo]

What goes around, comes around. Always.

[Jason00S2000]

Originally Posted by VrrM604

i read it first as if there are 30K millionaires in Yaletown..lol

When I made 30k, 14 years ago, I lived at 8th and Main. I blew all my money and lived cheque to cheque, but in 2-3 years I fucked 100+ cute chicks, partied all the time, went to the drags every weekend at Hammersmith, Iona, the place in Langley at 264th, and the one near 0 Ave. I had such an epic time, so many fun memories!

Yes, you can say "what do you have to show for it?" and all I could say was "experiences."

It is up to me to determine if those experiences were worth having no financial gain from the work I did at that time.

[StylinRed]

sounds like someone jelly/scorned wrote it to feel better about themselves honestly

[Jason00S2000]

Originally Posted by StylinRed

sounds like someone jelly wrote it to feel better about themselves honestly

Having 0 in the bank or having 100,000,000:

1. Booze tastes the same
2. Pussy feels the same

Something people don't think about, but, if you get hot chicks when you're paycheque to paycheque, it is much cooler and more of an accomplishment than if you have 100,000,000 in the bank. Even the most dorky dude with severe acne and B.O. could still have hot chicks around if he had 100,000,000 in the bank and the girls knew about it. The difference is, nobody would really respect the guy, and everyone would find ways to benefit from his money. Sycophants, basically.

[J____]

it's not for everyone. If they like living paycheque to pay cheque for the fake image, then good for them. You only live ones and it's your choice how you want to live.

Good read, but really has no meaning as most people know this already.

[rsx]

Originally Posted by Jason00S2000

When I made 30k, 14 years ago, I lived at 8th and Main. I blew all my money and lived cheque to cheque, but in 2-3 years I fucked 100+ cute chicks, partied all the time, went to the drags every weekend at Hammersmith, Iona, the place in Langley at 264th, and the one near 0 Ave. I had such an epic time, so many fun memories!

Yes, you can say "what do you have to show for it?" and all I could say was "experiences."

It is up to me to determine if those experiences were worth having no financial gain from the work I did at that time.

So long as you're responsible with your money and not racking up crazy amount of debt. You're fine. Plus, if you have income earning potential and not stuck at 30k for the rest of your life, then go ahead.

[Jason00S2000]

Originally Posted by rsx

and not stuck at 30k for the rest of your life

How would anyone know what income they're stuck at during any given moment of one's life?

I think we're all free to soar or fall hard, depending on how bad you want it.(or how little you care...)

[bcedhk]

another Jason00S2000 vs. All thread.

[Energy]

Yes Jason, we get it you like living life in the moment with no cares and all that. It sounds really nice. Congratulations. You are living the dream.

Now can you please talk about something else?

[Jason00S2000]

Originally Posted by eddy89

another Jason00S2000 vs. All thread.

No way, there are a ton of dude on Revscene trying to have these experiences, and I don't blame them, they're fun as fuck!


Simultaneously it is the same reason why we're not discussing Edward Kwok and how hard he is studying for his 3rd year mechanical engineering exams, and how he is monogamous to his chubby gf, and how good of gas mileage his Prius gets. It's simply not exciting.

[sekin67835]

Tbh. One can only has Jason's lifestyle if you live for yourself only. It's great and all, but no man would be doing what he is if they are looking to settle.
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[Jason00S2000]

Originally Posted by Energy

Yes Jason, we get it you like living life in the moment with no cares and all that. It sounds really nice. Congratulations. You are living the dream.

Now can you please talk about something else?

Sorry bruh, once I get the first sales numbers in, I will try my best to get a sweet car this summer, and then I'll want to track day with RS peeps. I'd love to bring my camera gear out to the track and get some cool footage. Driver's Edge at Mission was SO much fun with my 135i, I'll never forget it!

[Jason00S2000]

Originally Posted by sekin67835

Tbh. One can only has Jason's lifestyle if you live for yourself only. It's great and all, but no man would be doing what he is if they are looking to settle.
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Men don't have an expiry date for reproduction, where as it gets unhealthy for women to reproduce beyond 40.(+/-)

[kunoman1]

Originally Posted by Jason00S2000

Men don't have an expiry date for reproduction, where as it gets unhealthy for women to reproduce beyond 40.(+/-)

Well we sort of do, as men get older the chances of infertility increase

[Ch28]

Originally Posted by Jason00S2000

Men don't have an expiry date for reproduction, where as it gets unhealthy for women to reproduce beyond 40.(+/-)

I've always said that I wanted to have kids by the time I'm 30, because I want to be able to connect with my kids when they're 20 and I'm 50. It's a hell of a lot harder to do that when you're 60+ and your kids are just hitting their teens.

EVERYONE wants to be that guy/girl with the hot as hell 10/10 wife/husband, but honestly speaking, everyone's opinion/needs/wants are different. If you're happy with who you're with, then it doesn't matter if you've nailed 5 girls, or 200 girls. Different strokes for different folks.