Ben Burns, a self-made millionaire known as @fqlx on Instagram, expresses his indifference towards his wealth.
Despite having a substantial bank account and a $50,000 gun collection, Burns claims to only spend his money on high-speed WiFi, Diet Coke, and a luxury gym membership.
He views money as a “made-up concept,” stating, “Everyone who has millions knows money is a made-up concept.”
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Burns reflects on the drawbacks of wealth, noting that he spends the majority of his time in front of his laptop and experiences stress related to his job.
Despite his financial success, he suggests that being poor can sometimes be more enjoyable because it allows for a greater appreciation of life experiences. He emphasizes that true enjoyment comes from genuine experiences rather than extravagant displays of wealth.
“In truth, being rich isn’t as great as you think,” Burns explains, “I’ve got money but spend 99% of my time in front of my laptop.
” He further elaborates, “Being poor is actually more fun than being rich, because you appreciate experiences more.”
Reflecting on his journey, he shares, “My college roommate, James, and I started trading seriously in college, writing strategies with code – which made us some serious cash.”
Burns finds pleasure in simple indulgences such as Diet Coke, a luxurious gym membership, and his extensive gun collection. His daily routine involves waking up at noon and going to bed around 5 am, with his schedule remaining consistent even on weekends.
He emphasizes the importance of self-care, mentioning his regimen of taking around 30 vitamins and supplements daily, which costs him approximately $1,000 (£790) a month. His dedication to maintaining his well-being extends to his regular visits to a luxury gym, which costs $300 (£230) a month.
Additionally, he mentions his large gun collection, stored at his parents’ home in South Carolina, where firearms are a common sight. He recalls an anecdote about a roommate who casually left a loaded gun on top of the living room PlayStation, illustrating the casual attitude towards firearms in his community.
Despite his wealth, Burns suggests that individuals should pursue their own paths in life, advocating for a departure from the traditional 9-5 lifestyle.
Burns criticizes the conventional notion of working tirelessly to enrich others, urging individuals to break away from this cycle and carve out their own paths. He advocates for entrepreneurship and independence, encouraging others to lead rather than follow.
Despite his wealth, he maintains a nonchalant attitude towards money, with the majority of his fortune invested in index funds, Bitcoin, angel investments, or real estate properties. However, he admits to indulging in occasional purchases, such as a thermal monocular, which allows him to observe nocturnal wildlife in his yard with newfound clarity.
Sharing his insights into achieving financial success, Burns offers practical advice for entering the world of cryptocurrency trading. He emphasizes the potential of Bitcoin as a lucrative investment, predicting significant returns by 2032.
Additionally, he advises against investing in altcoins, citing their speculative nature and the risks associated with venture capitalist involvement.
AVOID INVESTING IN ALTCOINS
Ben emphasizes the prevalence of venture capitalist involvement in altcoin investments, stating, “The majority of altcoins are bought by venture capitalists (VC) during their seed round.”
He criticizes their approach, asserting, “Many of them don’t care about the startups they invest into.” According to him, VC investors often lack thorough due diligence, merely contributing a minimum check size of $250,000 to be part of the venture.
Their primary focus, Ben suggests, lies in profit, as he notes, “They mostly care about when to sell their altcoin investment.” He highlights their profit-oriented strategy, targeting gains from individuals who purchase altcoins at a later stage.
TRADE MOMENTUM
Regarding trading with momentum, Ben stresses the disregard for factors like market capital or price, asserting, “When trading with momentum, things like market capital or the price don’t matter and there’s a lot of money to be made.”
He emphasizes the necessity for unwavering dedication, stating, “You need to be very obsessive about your work,” highlighting the advantage of collaboration with exceptionally intelligent individuals, as he adds, “but it helps when you work with some of the smartest people in the world.”
Describing trading as a lifestyle, Ben underscores the need for constant vigilance, stating, “It’s like a lifestyle, you have to be on top of it 24/7.”
In terms of location, Ben suggests considering relocation from the US if earning under $200,000 (£158,700) annually, advising, “Consider expatriating to a cheap city like Buenos Aires, where you will be happier and richer.”
He criticizes the high cost of living in cities like NYC, remarking, “NYC is a playground for the rich and the USA no longer offers a high quality of life for the price you are paying.”
