Why Looking Poor is Important

In today's video, we discuss why looking poor is important. Often times, when we start to make more money, we may be more inclined to buy things that signal our wealth. However, this practice may actually be hurting us on our road to wealth and financial freedom. If this is a goal you're striving for, it's important you fight the urge and stay grounded.

FREE STOCKS:

RESOURCES:

MY SOCIALS:

WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.

PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!

⏱️ Timestamps:
0:00 - Start Here
0:17 - It Simplifies Your Life
2:32 - It Cheaper
4:06 - Invites the Right People
6:27 - Happy With the Stuff You Have
8:19 - Retire with Less Money

[odoacredacalcutta]

I found that in order to look poor, being poor is very helpful.

[DaxtonFr]

During high school I lived with my millionaire uncle, and I asked him why he drove a 2005 truck when he had money to buy a new car. His response was simply " the truck still runs just fine" which stuck with me because so many people will discard their possessions for the new and shiny things but the truly wealthy take a more practical approach.

[FunFantasyHouse]

"Simplicity" is a better word than "poor".

[sirheisenberg]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[Longislandteaboy]

Rich people stay rich by pretending they're poor and poor people stay poor by pretending they're rich.

[drkyasmar]

I’d rather look poor but financially secure. Than to look wealthy but wallet is empty.

[truthserum]

Yup, what he said. My net worth is 1.6m, and I still drive my old 2005 F-150 I bought new almost 20 years ago. I could not care less what people or my neighbors think of me. They all drive new cars and pay $800-$1, 000 a month. Not me.

[buckibanker]

I now spend money on things that reduce my stress or save me time, can’t buy more time, but I can reduce the time I spend on things I don’t enjoy doing.

[FINAL-BSS]

As a 50 year old: At times it’s critical to look average or middle class and be stealthy. Poor isn’t a great look as people associate it with crime, drama and unpredictability. Looking well off and being well off can open a lot of doors and opportunities too. Most importantly focus on what makes people really happy…friends, family, faith, work that serves others. But Buying a Rolex, wearing it for 25 years and giving it to your son when he becomes a father can give you a tremendous amount of happiness too.

[petuniasevan]

I used to work expediting a dock at a warehouse. One driver would show up once or twice a week; he was this pudgy, balding middle-aged guy wearing a "Canadian tuxedo" (jeans and jean jacket). The clothes looked like you expect; some stains, old worn work boots with scuffs, etc. He did wear a company ballcap with the logo on it. He was conscientious about his work and would be sure to be there on time and call us if he was running late for any reason, which wasn't often. The mental image you have is probably pretty accurate except for one thing.
He was not an employee of this trucking company; he was the OWNER. He covered for employees' unexpected absences (family emergencies, illness, etc) and all this and still was running his business and flying down to Georgia to buy new tractors for his fleet. Yeah, he invested in equipment and his employees (he had the best).
He would sit in the trucker break room and watch, listen and talk to other drivers, and none of them knew he was a multimillionaire. He one time showed up to pick up a truck for a driver who'd had to leave for an issue, and he drove up in an older model pickup. So never did he flash his money, ever.
There were a lot of drivers whose mouths and attitudes disqualified themselves for ever driving for this guy, because they assumed he was just another of them and that they were "safe" complaining and telling what they did to "screw over their company/owner".

[cometasporelcielo]

not to mention: the kind of people you invite are often nasty, insecure, arrogant people, some of whom are even narcissists and sociopaths. I miss living in a middle class neighborhood because people there were nice, kind and generous.

[markjohansen]

Saw an interview once with some wealthy man. He said he bought a new car every year. The reporter asked why -- the car he had seemed perfectly good. He replied, "you have to have a better car than your neighbor. That s what life's all about." At that point I wasn't jealous that he had more than me. I felt sorry for him. Was that the most happiness he got in life? I'd much rather have a wife who loves me, hobbies I enjoy, accomplishments I can be proud of, A relationship with God. I have no desire to one up my neighbors. I don't care. If they have more than me ... Good for them.

[patrickanderson]

Well, what makes me an outlier I guess! I am 57 year-old English immigrant, with zero interest in tech or stocks, and yet I am 110% committed to Bitcoin. I would describe myself as an extreme conservative/libertarian. I have been involved in UK politics for some time, and the main thing that drove me to study Bitcoin and ultimately recognise its value to Humanity was the threat posed by an over-weening government, first in the UK and lately in the US also. I regard the CBDC as the final brick in the wall of the totalitarian prison the world's governments are building for us. And Bitcoin is the ultimate defence against a tyrannical been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 9Bitcoin....I'm especially grateful to Aldona Šabanienė whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[brianwhitehawker]

My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.

[ClarenceFerland]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Brooke Grace Miller.

[RowenaMendez-wp]

My husband just recently retired and we do have a combined wealth of a little over 2M including our house. No car payment, no student loan, and children are done college living independently. This was achieved by spending below our means, made an investments, contribute to 401K and living a simple life.However, I still work coz I still enjoy working maybe another 5 more years till I’m 62 ( God’s willing) Spending wisely is the way to go and get some educational tips from watching informative vlogs like this one.

[SirLoin]

People with real wealth prefer quality and comfort. You never see them covered from head to toe with brand named items and labels everywhere.

[Onlybadtakes]

My parents, who never finished grade school, raised me like we were dirt poor, simple meals, never eating out, limited clothes, I slept in a living room with 2 other siblings, walked everywhere, etc. It wasn't until entering my 2nd year of college, it was revealed that they were millionaires. Neighbors and their friends thought they were poor, but they just saved money for investing. They were able to retire in their early 50s and have been living the same modest lifestyle. They invested everything into real estate in the early days of the Bay Area (before the tech boom) and each property eventually turned into a million per house.

[Jamaali]

The actions or steps you do to attain success determine its outcome. Developing sound habits, such as consistently setting aside money for reliable investments at regular periods, is essential to accumulating wealth. I hope that everybody who reads this will have success in life because financial management is an important subject that most people avoid and that will eventually come back to haunt them.

[JUNKJACKZACK]

I've never wanted to be flashy rich. I have always been striving to just own things that are quality.