"I didn't have any idea what I was spending:" Nearly Burning Through a $13M Exit

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Sep 10, 2024

Ryan Begelman, a corporate mogul turned life coach, opens up about his journey from a $13 million windfall to financial mismanagement. He candidly discusses lifestyle inflation and misguided investments that left him grasping for security. Discover how coaching helped him slash monthly expenses and develop a newfound respect for money. Ryan shares insights on budgeting, the importance of financial literacy, and overcoming emotional ties to spending, all while navigating the complexities of post-exit life.

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ANECDOTE

BizNow Success

Ryan Begelman bought into Bisnow, a commercial real estate news company, and grew it substantially.
He later sold it for $51 million, generating $64 million in total distributions.

ANECDOTE

Father's Financial Rollercoaster

Ryan's father experienced financial highs and lows, building a real estate and restaurant empire, then nearly going bankrupt.
He eventually recovered financially, teaching Ryan about financial instability.

ANECDOTE

Lifestyle Inflation

After his BizNow exit, Ryan indulged in lavish spending, trying luxurious experiences like expensive hotels and private chefs.
He became accustomed to this lifestyle, making it difficult to revert to previous spending habits.

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13 million dollars is a lot. But is it enough to retire on?

For pre-epiphany Ryan Begelman, the answer is no.

Ryan built his wealth working in the corporate world, then decided to risk it all and bought into Bisnow. That risk paid off, and Ryan made a huge profit. But despite his successes, he found himself grappling with lifestyle inflation, misguided investments, and financial uncertainty.

In this episode, Ryan opens up about his struggles with managing wealth after a big exit, how flashy spending left him unprepared, and why life coaching became the tool that helped him find real security. We dive deep into his financial epiphany, his coaching career, and how he halved his spending while learning to respect money in a whole new way.

This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits.

Who is Sam Parr?

Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022.

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Ryan's Early Career and BizNow Success (02:32)

Financial Mismanagement and Realizations (06:09)

Family Influence and Flashy Spending (09:37)

Life Coaching and Personal Epiphany (12:38)

The Start of a Coaching Journey (20:05)

Financial Success and Security (20:45)

Existential Financial Concerns (22:44)

Modeling for Financial Future (23:17)

Spending Adjustments and Reflections (26:56)

Endurance and Self-Care in Business (32:38)

Final Thoughts and Reflections (38:24)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.