WHY LOOKING POOR Can Be Your BEST DECISION

In this video, I'll discuss the counterintuitive concept of why looking poor might be the smartest decision you'll ever make.

Let's look into both psychological and logical reasons why flaunting wealth can be more of a liability than an asset.

From avoiding unwanted attention from lawyers and gold diggers to saving money by resisting the urge to keep up with your neighbors, I list five compelling reasons to maintain a low profile.

🔔 Don't forget to subscribe for more insights on real estate investing and business strategies!

Show Notes:
0:00 Intro
0:38 Avoiding Lawyers and Snoops
2:00 Saving Money
3:14 Avoiding Gold Diggers
4:43 Avoiding Stereotypes
6:42 Satisfaction in Having Enough
8:00 Outro
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#wealth #finance #financialeducation #moneymindset

[jrhunt]

I’m a contractor. If I drive a new truck people will think they are over paying. If you drive a junker, people think you are broke, and aren’t capable or experienced. Drive a decent cheap vehicle and they think you’re an honest man and charge honest prices.

[bradfoland]

Contentment is the elusive treasure that many never find no matter their financial level. Contentment is the true wealth

[renisans]

Charlie Munger used to drive a jalopy when he had an office at the Pacific Stock Exchange in Los Angeles, When someone asked him why he would drive a car like that, he replied, it keeps the gold diggers away.

[EngelbertFritschi]

I used to play stupid at work because I found out my supervisor would leave me alone if I did that. I found it easier if people underestimate you.

[raymondjoseph]

My dad used to pick up and drop off money for the mob in nyc during the 70s. Got paid great money. He would dress like a bum. I asked him one day why he dressed like that. He told me, when you're walking around nyc with 100k in a paper bag you make yourself look poor. This way you don't get mugged.

[DavidSmith-jdhg]

Whenever a friend shared with me a "success" in their life, I was always genuinely happy for them... and mistakenly assumed that if I shared a "success" with them, that they would genuinely be happy for me. Boy was I wrong!!!!

[upbojqs]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[cjhoward]

One of my ex brother in laws who owned his own excavating and roofing business, had a crappy looking house and terrible old landscaping. I thought, why doesn’t he fix it up ? And then I went inside his house and it was like a palace. Really nice top notch things. So I asked him why the outside looked like he was poor. And he said that if he put new siding on, and a new deck and cleaned up the yard, the tax assessor would raise his property taxes.
😂

[joedessenberger]

The best times are when friends are struggling with bills and a new crisis arrives. To be able to covertly walk into a doctor's office or vet and pay off the bill without ever letting the friend know is so rewarding...especially when they tell you what happened and you say nothing!

[reginaldbuckhana]

I look poor because I'm poor. Problem solved.

[joem.]

I love it when debt rich people who think I'm poor talk down to me. Absolutely amuses the hell out of me. The biggest benefit in my opinion to looking poor is quickly figuring out the type of person you are dealing with. Good and kind, or bad and mean.

[IsraelJacobson-mtvj]

My dad taught us this lesson since we were kids, he’d drive around in an older beat up truck and would dress blue collar, nobody would guess that he owned multiple rental properties. He’s since gone home to Heaven but none of us, his children, live fancy or drive expensive cars. My children and nieces and nephews aren’t even aware of the legacy they stand to inherit 🙏

[castirondude]

#4 in general you want to be modest about your accomplishments. Jordan Peterson said something like "be careful who you share good news with". Only a true friend can handle good news, most people cannot.

[shofarhagadol]

As the meme goes: Wealthy is Quiet, Rich is Loud, and Broke is Flashy

[coobay]

Reminds of a guy my cousin worked for as a handyman. He worked for this guy for about 12 years. The guy was in his mid 60's. He had a large property with about a dozen horses and a couple of dozen cows. My cousin said he drove a 20 year old pickup and always wore old denim overalls. The guy spent most of his day with my cousin working with the livestock, mending fences, cleaning the barns, mowing grass, etc. My cousin said he was one of the nicest down to earth person he'd ever known. After the guy died my cousin found out he was worth in the neighborhood of 80 to 100 million dollars.

[PatrickFoley-vflr]

You left out the most obvious one - CRIME.

[smx]

I LOVE number five. There's nothing more valuable than being content. You can actually be poor and be content.

[brewcider]

I take public transit and it's saving me tons of money, on track to retire at 52

[cantankerouschris]

1000% AGREE..This has been my lifelong philosophy. Looking like the "average joe" puts you on a equality level with most people..Flaunting wealth only brings jealousy, contempt, and opens you up to theft from others..People seem to think flaunting wealth will bring them notoriety, but it has the opposite effect..Instead of trying to be the upper crust high society, one should aspire to be the average joe..Drawing attention to yourself has adverse effects

[jberndt]

I once bought a brand new car and my apartment manager started giving me eviction threats for not paying fines for not registering a new car with the complex. His first statement to me was “You can afford a new car, why can’t you just pay your fine.” There was absolutely nothing in our lease that said we had to register our cars. He next proceeded to claim we needed to prove to him we didn’t have three cars because the lease limited us to two cars. About four months later the dealership gave us a very high trim level loaner car while the new car was in the shop and the fines started again.