Posts Tagged ‘cars’

So, I’m reading this great book called ‘The The Millionaire Next Door’ and it is highlighting one of my self imposed mantras of what I aspire to be…”All cash and no flash”. I even bought the book at a thrift store, for 79 cents, already living some of it’s principles 🙂

A summary: “Most of the millionaire households that they profiled did not have the extravagant lifestyles that most people would assume. This finding is backed up by surveys indicating how little these millionaire households have spent on such things as cars, watches, suits, and other luxury products/services. Most importantly, the book gives a list of reasons for why these people managed to accumulate so much wealth (the top one being that “They live below their means”). The authors make a distinction between the ‘Balance Sheet Affluent’ (those with actual wealth, or high net-worth) and the ‘Income Affluent’ (those with a high income, but little actual wealth, or low net-worth).”

This great video, I think, highlights a big social misconception. A fancy car does not equal rich. I see these guys as piled in debt with an impulsive attitude towards money. I.e. not wealthy. It is, in my mind, synonymous with the holographic illusion we have come to accept: “ghetto fabulous”. The truly wealthy evidently have known this for generations. Challenge your ideals 😉

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