You know what most rich people DON’T want to do? Draw a lot of attention to their wealth. Yet, growing up many of us have this bizarre impression of wealth impressed upon us. We’re raised to believe that SPENDING is wealth. The fancy clothes, the nice hotels, leased cars, fancy watches. We’re told THOSE are the signs of wealth. But usually it’s not true.
When I picture wealth, I think of that picture of Bill Gates waiting in line at his favorite burger place. He dresses comfortably, and wants to eat a burger just like the rest of us. And dude is worth $107 BILLION. That’s a hundred thousand MILLIONS for those keeping track at home. It kinda makes the dude going into debt to buy a nice watch so he can look like a millionaire seem kinda silly.
If you feel the need to “keep up with the Joneses”, a great book to read is “The Millionaire Next Door”. It really breaks down these myths surrounding with lots of data to back it up. Wealthy people, live below their means. They’re less stressed and happier because they’re not worried about spending to the brink of bankruptcy. They’re confident and humble and don’t feel the need to put their money on display.
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
-Jeremy
