Lifestyle Book Preview: Please Add Any Additional Questions/Topics.
We’ve officially started the process of writing our Lifestyle/Spending book (will be released in December). One thing we learned from our last 2 products (over the past 7 years now!), is that most people won’t take action. Originally, we thought we’d see numerous people come forward with how straight forward everything became but instead we calculated that only 5% of people actually follow through. With this in mind, we’re going to give out every single trick we can think of in the spending/lifestyle book. Yes. This will include “performance enhancers” and how to use them properly. Since no one will listen (likely do everything incorrectly), we don’t have a problem giving away our formulas.
Overview
Spending Group Snapshot: The front of the book will be the least detailed. It’ll essentially explain what you should be spending on if you are making next to nothing $50,000 a year or less and scale all the way up to ~$500,000/year. If you end up making substantially more than this, you’ll see that there isn’t a big change (all details in the book). Some of it will feel redundant as we drive in a few key points on how to think about spending at a high level. This is done by design. People have different tastes/objectives and live in different cities. Therefore, by providing a high level overview up front people can make decisions faster. Without being forced to ask a question, they can simply refer to the main ideas at the front of the book. As a note, at the very end of the first section we’ll provide the order in which people should spend (again driving home the right way to use money).
Groups Covered: The main sections are split up as follows: 1) housing, 2) food, 3) clothing, 4) investment percentages, 5) performance enhancing (after age ~27 or so) and 6) standard partying/travel. Unsurprisingly, a lot of the ideas in the book are extreme (otherwise this blog wouldn’t be niche) as the goal is to get rich early enough to enjoy the money. We’ll cover the rough spending split into each of the six categories based on assumed annual income. After that we’ll give out more details on how each group should scale up (if you’re more interested in spending on performance vs. food for example). As a note, it’ll be no surprise to anyone reading this, if you’re making next to nothing the “partying” category is a complete zero.
Housing: This is always a debated category. The summary section up front is going to assume you live in a high cost of living area. This is the easiest way to start since we assume readers of this blog are looking to enter high paying careers: Tech/Finance/Enterprise Sales. After this assumption we provide alternative “lifestyles” that we’ve seen work in various cities. Luckily we’ve already provided the way to invest in real estate (as a third form of income) in triangle investing so we won’t have to cover that. Instead it’ll give out ideas to maximize your lifestyle without levering up to the point where you’re “house rich”.
Food: When you’re 21 everything tastes the same. Seriously. You can go to spring break and drink cheap beer/tequila without a blink. Anyone in that age bracket is going to think we’re “lying” when we say it’ll change. This is exactly what we thought when we were 21 as well and it turned out to be completely wrong (come to think of it maybe this is why no one ever takes action or listens). Either way. We’ll scale this category up and it becomes an important item to focus on if you’re serious about living a long and healthy life. The right diet will be the difference between “Oh my god you’re 35 no way!” and “Oh yeah you look 35”. No one wants the second reaction.
Clothing: We’ve already made people upset by announcing that we’ve flipped to purchasing luxury goods here and there. This is just how it works if you really move up the ladder. We have enough experience reading reactions to know that they work. That said, we’re not foolish and would never recommend luxury goods to someone making $200,000 a year for example. It just doesn’t add that much value. It may be surprising to many but clothing is probably one of the most important skills to master (not joking at all). There is a time and place to dress extremely well and there is a time and place to wear more middle of the road items. The most obvious example is an entry level interview (leave the Cartier at home) vs. when you’re 35 years old going to a deca-millionaires house party (better dress to impress).
Investment Percentages: Our best guess is that this section will be the third most debated piece. The performance enhancing piece and the clothing piece will likely make people the most upset. Why? 95% of men don’t know anything about either of them so they get insecure and complain about it. That said, investment percentages will actually unveil how conservative we were in the beginning. We’ve seen far too much. Your industry could go to zero, your business could go to zero, your health could take a massive set back etc. We lean very conservative your first 3-6 years. It just isn’t worth the risk and from what we’ve seen it is the best “risk reward decision”. If you do make it to $1M by thirty (which is certainly doable) then you can begin to take more risk. As a final note, we’re guessing that people will also be surprised by our “bar-bell” approach to saving once you’ve got a million or so to your name.
Performance Enhancing: Wow. Quite a large topic. We’ve tried everything from grey market products to black market products. The vast majority do not work and on top of that the vast majority take them way too early. That last part is so important we have to say it twice: the vast majority take them way too early diluting the value. If people are forced to use Adderall and other performance enhancers to pass college exams… That’s a bad move. At such a young age you only need coffee and maybe a couple of energy drinks for the final exam period. Being an “edgy” blog people assume we started using black market products at a young age. This couldn’t be further from the truth since it actually dilutes the value. This is explained in detail in our book and is not a recommendation, but more of a “personal experience” journal. This prevents readers from claiming we’re recommending them.
Standard Partying and Travel: We scale this one up pretty dramatically. It starts extremely low where we recommend simply being in shape and going to cheaper places that have a “post college vibe”. Why? Well there is no point in trying to act like a big shot when the girls are just as attractive and you don’t have to spend as much. It just doesn’t make much sense to drop $500 at PHD or Le Bain when you’re just starting out. That said, when you’re 35 you do not want to spend your time in places where the floor is sticky. For those that believe the women are “older” we have nothing but laughs for them since it just isn’t true. The only people who believe this are the ones who never made it.
On the traveling side we also give our view on when to spend up and when to spend down. As an upfront observation, most young people 20-25, end up going to third world countries and date women who would be out of their league in the USA. This is because they are leveraging their status abroad. This causes them to “believe” the USA is terrible and they give up everything to earn $5-7K a month overseas. Unsurprisingly, this is a life changing decision (in the wrong direction) as they can’t scale anything meaningful. A smarter way to think about this is “if I make it in the USA I can be rich and date girls of the same quality anywhere I go”. Unfortunately, the human brain is trained to take the path of least resistance which is to uproot everything and leave. On the positive side, this decreases competition for you and when you’re worth a few million it’ll be easy to party and have fun in any city in the world (except San Francisco, San Jose and Seattle since the supply of attractive people is so limited).
The Details
While it sounds like this will be a short product, we’re wagering that it’ll be longer than either of our prior products (likely very long). Why? We’ll spell out each section in extreme detail. By way of example we’re going to cover every single performance enhancing item we’ve tried which includes: Modifinil, LSD, Mushrooms, Coffee, Energy Drinks, Healthy Juices, Fish Oil and a lot more. As another example we’ll also include detailed information on how to spend on clothing which scales up from: cheap $10 shirts to custom made suits and designer shoes. The more we think about this the more we realize how much information will be in here since most people get “capped” at around $150-200K a year or so (peak earnings for most).
Since we can’t give away everything here we’ll highlight a lot of the main questions covered: 1) when to begin buying custom suits vs. made to measure, 2) what occasions are best for maximizing your high end clothing and when to “play dumb” and dress down, 3) the optimal time frame to dabble in performance enhancing items – based on our experience not a recommendation, 4) how much you should be throwing into an investment account per year as a percentage of income, 5) calculating the amount of “downside” you have, ie. If you actually have enough resources to step up spending, 6) how to tell what type of person you’re talking to without asking how much they make, 7) when to use hotels vs. AirBnB set ups, 8) what type of things you should think about when scaling your housing – which is also a form of “displayed wealth” that doesn’t lose significant value, 9) how to leverage your income in a way that leads to results vs. typical boring rich people who complain that it “doesn’t work” and 10) why you don’t “act as if” when it comes to money – hint your personality won’t match it.
That’s the high level overview for now. Importantly, please leave any questions/topics in the comments. We plan on making this quite a large project as it’ll be differentiated from a lot of the information we’ve provided in the past. As a final note, this will likely be the one major project for the year as we go back to hibernation for another 2 years due to time constraints. Enjoy the holiday!
Will there be a reward for those who end up buying all 3 books
Reward? It’s $8 lol
Not about the money. How about a little something for your most loyal supporters
If you have ideas email them
Stop being greedy, your reward will be your improved life after following the books’ actionable items.
Also to WSP: if I had to guess—many of us don’t feel the need to come forward. We’re too busy executing. And Efficiency came out less than 2 years ago, so we’re at the beginning stages of exponential gains.
I’m sure if you requested testimonials though, many readers would be happy to write them for you.
Greed is good
How about a section on relationship and dating, and how to use your new found wealth to maximise them ?
Good lord no
People would literally just pay for a book on this with nothing else.
They already covered dating in Efficiency to an extent, and they are not interested in writing any more about it (waste of time), since there’s plenty of good resources out there + after a certain age, you should just have your shit figured out in that area.
But. WSPs, if you could expand in the upcoming book on a couple points from your “Personal Finance and Dating” post – specifically 1) about having many hobbies and how to leverage those into interesting experiences, 2) how to use money to improve your status (not just in a club environment).
Your input on this would be very valuable and appreciated. Thanks!
Dating is a sales process. If you have sales / business skills, apply it to dating. Make yourself a good ‘product’ (work out, dress well, etc). Go out, get leads through various ways (online, in person, etc), make a funnel, research the market where of your best customers are, etc. Then like getting new deals hop on opportunities that come up from your biz / social life, etc.
Don’t shit where you eat, especially in the USA.
The end.
What a summary
I like to go through comments. Also in sales… and the key to sales/dating is knowing what you want and not negotiating less then what that is.
For example if you want a hot chick but dont want to give her any of your money, only approach hot chicks. When any of them ask for money say “no.” Keep the ones who stick around.
There are people willing to do exactly what you want, you just must eliminate those that dont instead of trying to compromise and hope they will change their thoughts/habits/willingness to pay/ f*ck.
Everyone is NOT your customer/dating prospect.
I’m a chick btw
🙂
Great. Can’t wait for this one. Please also cover how to approach luxury car ownership if possible.
With the future of the “two economies” it would be fun to point out the differences spending habits of the rich and poor. Especially since there will no longer be a middle class to buy up the low-tier luxury items.
I’m particularly interested in item #2 (when to play dumb), and it would be awesome if you could expand that beyond just clothing.
When is this expected to come out? Thanks!
Some time December will be a bigger project than it appears
Re: Spending
Would love a section on the correct way to do charity.
My guess is that, like most things, average guys donate to the wrong people, at the wrong time, in the wrong amounts.
Thanks for keep us updated on your progress!
Interesting may add a small chapter there
Our view is just giving people money doesn’t work, better to start reward systems like scholarships etc
The investment percentages section goes against what was suggested in Triangle Investing — which was to invest “aggressively” in crypto in early 20s. This is the polar opposite of “very conservative in your first 3-6 years”.
So which one is it?
Conservative means how much we invest no contradiction.
Meaning of your beginning salary you invest tons as a percent of your income and live below your means for 5 years or so
Example you make $100K after tax, you try to invest half of it and have fun by partying in college bars and cheaper fun stuff.
When you get to $500K a year, you’re already a millionaire so… no need to invest 50%. Exact opposite of what the masses would do
Gotcha thanks for clearing that up
Appreciate the detailed reply!
Great to see that you‘ve taken the decision to write a third book!
I‘m also glad that it covers a wider variety of topics than I initially thought when I read your first ideas about it.
Looking forward to it!
Great already looking forward to it.
Maybe a section on how to get to high end parties once you make it and/or partying right while going international if possible?
Good luck!
I second this. There’s virtually no information on this out there (because it’s inherently a thing only for the few people “in the know”). So if you really want to “give out every single trick you can think of”, this would be extremely valuable.
Looking forward to the book and thanks for your time, WSPs!
Please touch upon foreign languages. No, not learning Japanese in college like some creep. But if any of you picked up a language, outside of your household, such as Spanish. How long did this take you and was it worthwhile?
I’ve been trying to learn Spanish. Took it in highschool and don’t remember anything. I figure it’s useful for Europe and the Americas.
Marked think we have an easy solution here
I second this request. If there’s a very efficient way to learn new languages, then that’d be a popular section.
Start with Assimil: Spanish with Ease and practice conversation with a tutor/native speaker who gives you feedback. Read and Listen to a ton of Spanish + time = you just learned the language (adding a latina girlfriend component to the mix works wonders too)!
Can 100% confirm this. I speak 5 languages fluently, 3 of which I taught myself using these methods.
Assimil is a very effective and intuitive introduction to learning a new language, especially if you’re a bit more analytical. To find native speakers/tutors, check out italki.com, if you haven’t already found any local ones.
These methods all work, but by far the most important thing is to have a deep desire to learn the language. This can be just a general fascination with languages (like it was for me), or a specific strong motivation to learn one (e.g. latina girlfriend).
If you have any questions, let me know.
I can second the Italki recommendation.
Learning a language is easy compared to making money though, there is always a right and wrong answer!
To be honest, I was a failure with the last book. I really tried. I minimized effort at my day job (roughly $70,000k/year) and pumped tons of time and advertising dollars into several online stores I created. Only made a few sales. After many months & thousands spent, I quit for a while.
I’m hopeful, however. I’ve since strengthened my main income source by focusing on that again. I’ve gained some perspective on some things I did wrong with the online stores last time (wrong industry – no emotional hook, wrong price range – too low-end, short-sighted – no long-term strategy), and I’m excited to try again.
I just want you to know, I am a COMPLETE failure at your recommendations but I’m trying, and am truly grateful. Thank you.
Go the services route first then, get to break even since there is no cost (make up all losses) then go back and try again.
Definitely don’t go in blind again, sell your time first if it was really that rough if a start.
Crazy amount of value provided on this site and your books. Looking forward to purchasing the new one coming out.
“Freedom” 55 – for those FIRE retired or retiring at 55. What is ideal for retirement, savings, lower risk investments and I do remember one article which was fascinating where you mentioned that some jobs in your 50s are not worth the value of your time. Love to learn more.
55? Wayyyyyyyy too late, not even close to early enough to get rich
Please write about the following:
Suggestion #1:
Mindset/state of mind and what it should be at different stages of your life (from trying to make it to already rich). Particularly, what mindset and how a person should adopted it if still trying to make it (ie. overcoming fear, temporary self-doubt).
Suggestion #2:
How to battle extreme stress, anxiety and pressure. Achieving mental clarity is a big one. Mental health in general.
Thank you WSP! Look forward to the book as the last two were fantastic.
Suggestion #3: maintaining high-level of energy (unless it’s been covered already in your recent blogs post regarding being hardcore and working 80 hours work weeks in your early 30’s).
Thanks guys!
For me, you should just be looking at stoicism for suggestion 1 and 2.
To be fair, they talk about this a fair bit and probably ties into spending too (or at least some capacity) – so wouldn’t be surprised to see it mentioned.
How about a section about spending on toys(e.g. cars,boats,planes) and hobbies?
Looking forward to it.
Maybe part 2 of examples of thinking differently. (tipping before service). And what service are worthwhile to spend on?
They already wrote two articles (at least) on worthwhile services. Not going to link them, you should be able to use the search function before asking questions. Don’t waste people’s time like that.
Wel, if they have more things to add. Just a suggestion
I’m the target audience for this book now and I’ve been reading you guys for 2+ years, love this blog. This is my first comment, though. I’ve gone from growing up broke to making the usual mistakes in my 20’s to dirt poor during the last recession, and now currently pocketing 1m+/yr (probably a lot more this year) and frankly, now I don’t always know how to spend it (I’m not materialistic, the women in my life are provided for, I’m in excellent health/fitness, so the basics are covered…) so I’m stoked for this book. I want to know where to get high quality ‘basics, and keep finding myself thinking “where do rich people shop?” every time I need . Looking forward to fashion advice (especially ‘casual’ fashion since I don’t do any business face-to-face), luggage/watches, and even furniture (I don’t want the usual made-from-cancer materials in my home). I don’t care about the partying or performance enhancing or food (no longer do the former and I avoid regular people at all costs, the latter two I have really well dialed) but fashion and travel, for sure.
Thanks for a great blog!
Early to Mid-Twenties style trends
Do we Dress
1) Edgy LA-mid-high End Distressed Jeans mid-high End Sneakers for the first 3-5 years out. Pop culture
2) Or do I jump right into Conservative Chelsea boots/Jeans and look like a 100k a year corporate finance guy.
FLASHY SUITS
$800 lasts you 5 years
Literally same cost as a pair of hi top margielas
After hitting a certain income bracket, one becomes significantly more aware of taxes and regulations (especially while starting a business and generating multiple income flows).
Will there be anything discussing some personal strategies you’ve employed on how to *legally* minimize these headaches (e.g. considerations for personal residency, best states to incorporate or move your business) ?
perhaps a section on the more off the wall/superstitious/spiritual stuff mentioned on twitter you have come to believe over the years
Hey boys, can you include a chapter on healthcare spending? Such as health insurance, blood tests, hormones, viagra, etc…thank you….look forward to buying it
A section about hiring cooks, trainers, maids, etc if there is anything really to think about there. (Can’t think of any, but you might have some insights that I haven’t thought about)
A coworker angel invests in local breweries and restaurants. Some other ones do tech startup angel investing (which is a lot higher risk : reward ratio)
Do you guys have any thoughts on that? I know you didn’t talk about it in triangle investing, so you probably don’t have experience in it, but just in case.
Health: stem cell treatment, TRT, lifespan extension
Would love to hear more about Premium Health:
– lifespan extension
– telomere caps
– stem cell treatment
– Vitamin C injections
– testosterone therapy (TRT)
– reducing scarring
– surgery for long-term benefit, or keep minor annoyances because of risks involved in surgery? e.g. Stretched joints caused by sprains leading to clicking wrist/ankle/shoulder/knee/hip
– tinnitus from going out too often
– retaining eyesight
– skin youthfulness
– massage advice (where, when, who, guy/girl)
– maximizing energy
– male organ lengthening, reversing circumcision, general health
– etc.
Topic Idea:
1) Shortening the “Get Rich” Phase 2-4 years rather than age 30. Someone in 18-23 is a long way to 30.
A Shit Load is gonna change by 2030. Millions of Finance/Tech jobs automated even by 2025.
2) Living at the house-Huge savings- Even in cheap cities
3) Avoiding teir 1 cities at all cost 50k in Texas is like 2.2x New York Now.
Much better to shorter your million dollar span to 3-4 years, then spreading it out 7-12.
Making 100k and saving 50k isn’t gonna work lol. Cost of Living is rising at 10% a year in the major cities. CPI inflation is at 3% so Social Security doesnt have to adjust it payouts, lol. Real is 7%+
Need to scale out to at least 250k in the first 2 years.
100k-Year One
300k-
500k-
Foot off gas
300k
–Several Income Streams–
That or you make 60-100k a year, pay rent, go to the bars, student loans for a few years: 2024 than start eating bread handouts from the state lol.
Laughed at the extreme nature of the post
May be Extreme, but I don’t think it’s a time to plan in 10 year intervals. Their is zero certainty in this day and age.
Finance-I have friends losing jobs to India. Then others telling me the Indians are losing their jobs to AI.
Tech-Your Labor is Commoditization and are threatend to Globalization, if not, locally your wage will be deflated by H-1B Visas, and Trumps new immigration policy.-Which states: no more low skill labor, all high skill labor welcome. Not to mention living in San-Fran is an abomination to your savings.
I am just saying for those who have not made it
Multiple Income Streams-Multiple Skills-Minimal overhead
People making 150k cannot see the light, only those racking in 300k+ with no overhead can.
Ah yes you live in the hub of tech, explains the sense of urgency
Extremes is a good thing, forces you to get rich ASAP.
Main question: Curious as to advice from some of your authors who do have kids and advice balancing them with lifestyle. Question is on kids. I’m not making any moralistic argument to monogamous, vanilla relationships. Interpret my phrasing how you will. If you know, you know.
Side question: Is there a reason why you sell PDFs instead of a release on Amazon self publishing, like for Kindle or even paperback? Serious question, I’m not familiar with the publishing space, and it seemed like Amazon would have bigger network effects, i.e.: it shows up in recommended products, etc.
None have kids so no comment, we don’t care enough to do amazon etc this blog is for jokes/laughs a hobby
$500k a year Earner in Tech here (PM).
I’d recommend adding a section related to plastic surgery and cosmetic augmentation.
I have a lot of work done on my face and body without it being too much, and there’s a HUGE difference between me and how people who just live middle class look.
I’d recommend adding details like specific facial surgeries and their effects on how people perceive you, liposuction, limb lengthening (height increase). Etc.
Not the target audience but glad it worked for you!
There’s so many good topic suggestions in here, probably too much for you guys to put together. I wonder if it makes sense for guest chapters to cater to certain popular topics that someone else may have a better understanding of/you’re not interested in writing yourself.
Other than that this is such a great blog, learned and learning so much. As couple others have said, many are implenting so not ready with testimonial. I know I will have a testimonial for you guys in 2-3 years. Working on a huge project and starting another one.
Have a good one all!
Idea:
I would love to see a section solely on budgeting (drawing a line between overspending and underspending), and how to identify this in people, i.e. how to spot a fakers who are overreaching and stealth millionaires who are flying under the radar.
Would be interested in your thoughts on security as you level up the wealth game. At what level should we spend more on extra ID-theft protection, extra banking precautions, entity structure to preserve privacy, etc.. all the way up to security guards and other services. (And any recommendations on any of these?)
You hinted at the set up in Efficiency, but would love to hear more tips. I’d also think this is an expense that should scale with income, but I could be wrong.
Huge fan of your other two books and looking forward to this one!
Not sure if already covered under “food” but alcohol. How to maximize Social ROI (could be a good enhancer for introverts if properly used). Sources and uses. What and where should you be drinking at 20s v 30s. or at 100k v 500k. Etc.
They’ve largely covered this topic in the following article: http://wallstreetplayboys.com/use-alcohol-properly/
An update to your previous post on partying in international locations (http://wallstreetplayboys.com/international-playboy-preparation-and-destinations/) would be welcome, including anecdotes of adventure.
Very excited boys. I own the prior two. I’ve tried to share it with as many young people as I can, and you’d be disappointed in how there’s so little interest from them. They’d rather stay broke and hate the system. At least you have the 5% that are listening to what you have to say.
Would like to get your expanded personal take on planned downtime for mental breaks. How often a year, activities you pursue, time scheduling/stacking of events.
For example I’ve seen high performers in my office do boating/fishing competitions, meditation retreats, hunting retreats, etc.
I want like to scrub my name in the previous comment. Please use moniker “Biggs”
don’t know which one it is so link us thx
hey guys when is the book release? can’t wait to buy 🙂