Why Looking Poor is Important

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Why Looking Poor is Important

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The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally, from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.

This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and may NOT be suitable for all investors.

This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.

Spoiler Alert: There are no "get rich" programs. Rather, just basic blocking & tackling and putting in time and care. Do your homework, choose wisely and (IMHO) work with experienced professionals who are fiduciary to you 100% of the time.

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Комментарии

I always tell my kids "there's no faster way to be poor than to try to look rich."

douglanglois

2:58 Money is a tool to make your life better. Alot of people mistake the idea of frugal living and looking poor, by not investing in themselves! No Improve yourself by learning new skills, saving, budgeting, Investing and achieving financial freedom to enjoy a fruitful life.
Wealthy is to be able to live freely

theresamish

I came to the Caribbean over 40 years ago to work in the financial industry and one of the first things I was told by my new colleagues was that the richer the person I was likely to meet, the scruffier they would look. They didn't care what people thought of them they were secure in their own life.

outsider

I am 54 and living an half retirement life. I still work as my company provide food so i don't have to cook. Though the salary is low, it gives me a place where I can socialize with others. I arrive home everyday at 5pm and doing various things that I enjoy including exercise, dining outsides. Now I realize that retirement doesn't mean not working but work freely without pressure, enjoying your life every days.

popovdes

Good stuff! I am not super wealthy but very comfortable. No debt, house and land paid for, plenty of savings and investments. The most satisfying thing for me is to lay my head down at night and sleep well knowing that I do not have money problems.

philly

Wealth is quiet 🔕 Rich is loud 📢 Poor is flashy 📸

spinvalve

Broke people flex their wealth. Wealthy people say things like "we are comfortable".

Joenzinator

“Spending tomorrow’s money to look rich today”. So spot on for how so many people live.

recordball

He's right on track here, I have a million in assets, no debt, been self employed over 25 years, currently semi-retired, and I live in my very first home purchase, a small ranch in a budget neighborhood, I drive a 20 year old vehicle, and I wear avg clothes. It is not about opposing having nice things, rather it is an attitude about money that poor folks lack. Money should always be working for me, and I should never be a slave to it. I control money, money does not control me.

SpeakerBuilder

The millionaire next door was a life changing book. Not looking rich was one of the subtle messages in it.

ranerohit

My next door neighbor owned a life insurance company.
He’s retired. And owns a 20 year old Mazda 323 LX.
Wonderful mentor.

dqdave

You don’t have to look richer than you are but you don’t have to look poorer than you are as well. Other comments said that it affects how other people treat you and I totally agree. Just buy things that you want within your budget.

happy_ak

Just this last week I was driving my 2014 Pirus, stopped at a light and a guy pulls up to me in his new Jaguar SUV. He glances over, gives me the look of, sorry for you old man, for having to drive that car.
I don't look like wealth. I don't act like wealth. I still bend over and pick up a nickel or dime on the road. I often don't get respected, and few will listen to me because they judge me by what they see. It is better that way. When people know you have money, you get treated differently; and often it isn't good. Last, like the poster below, take care of your health! At 63, and I am on no medications. I can still run a 10K almost every day and look years younger than my peers.

Econman

Proverbs 13:7 "One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth."

dougb

Being wealthy is more fun than looking wealthy😊

lancobear

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living..

Windarti

I’m in my mid 50’s and spent decades collecting things and in the last 5 years getting rid of things and now highly value experiences (travel, etc.). Enjoy the journey!

theelectricchef

One thing you said really resonated with me. I've always been quick to acknowledge when "past me has taken care of future me, " and the more I do that the more I want to do it. It's so nice to realize that you made a small sacrifice some time back and are benefitting from it in a big way right now. And those things accumulate over time. Always. Have an attitude of gratitude.

MrTrippticket

It's important to look poor when you have money because otherwise all of your friends and family will want money from you.

GrnXnham

Just remember, perception is reality to most people in the workplace. Don’t look poor or sloppy for your job. If you want to be a boss, dress like a boss. Halfway through my career, I’ve realized I could have done more to look professional and present myself better. This could have led to more opportunities. I’ve started to dress better than the average joes in the office because I like to stand out at work. Point is, there is a time to dress to impress. Put your best foot forward. Have confidence in how you look. Dress poor when you are going to Walmart. Stand out when it makes sense. Blend in when it makes sense.

Memyselfandi

Why Looking Poor is Important