How the Rich Stay Rich by Acting Poor

You’ve probably heard the saying, “Don’t judge a book by its cover.” This is true when it comes to the wealthy. Many rich people avoid the flashy lifestyle you might expect. Some of the richest people actually live quite modestly, even though they could afford all the luxuries money can buy. But why do they choose this lifestyle? In today’s video, we’ll explore why the rich often act poor and how this helps them build and keep their wealth.

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DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.
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[blktester]

I've followed all of the points you made and I can attest to every one of them works. But, one factor you've overlooked. Collecting flashy and obvious material things makes one a target. It's best to keep ones true wealth secret from everyone except your mate. Not a boyfriend or girlfriend but your marriage partner. Even during the dating period which will offer comfort that your significant other isn't an undercover gold digger. Above all else, maintaining a public image of average doesn't make you a target.

[marcoprolo]

I agree. I follow all those precepts exposed here. Except the coupons and discounts if it is not food. (it's brain washing for petty money). I just don't buy stuff. I wear the same clothes for ever and I even use a rope instead of a belt. It can come very handy sometimes. I drive the same small car for years to its end usually. When inflation started to rage, I started to cook like a chef at home and I cancelled 90% of my restaurant visits while eating lobster and Kobe beef. I now pay in cash sometimes to avoid the tip machines they installed everywhere. When the hotels and motels started to charge like crazy, I switched to tent camping. It's fun and I beat inflation like - 200%. For having the great life, I take a plane ticket in Winter and enjoy life pleasures for a fraction of the cost it would have costed me in Canada.

[sunilvamadevan]

Managing money / resources fruitfully and successfully is an art as well as a skill ! Thanks ! 🌹

[jessestraube]

Another great video from Practical Wisdom!

[davidwollenberg]

Well if I had bread real money I would focus on healthcare antiaging. Stem cell treatment hyperbaric chamber oxygen therapy on the treadmill. I would buy a giant vehicle that was easy to get into and reliable. People in my town drive like maniacs. So safety is number one gas mileage a distant second. Focus on health care for my family. Eating. Better. Getting massage therapy.