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For the millenials here, have you given up on getting rich yet?
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Same here hope people continue to give up I'm not gonna stop them.
I'm living a great life at a young age, and will continue to strive for retirement from corporate by 40 years old (earlier if feasible).
Goal is stable passive income of 15K-20K per month, don't care what rich or wealthy is by other standards, that is enough for me.
For people still striving to get rich read this article :
[h1]If You’re Not Getting Rich in your 20s, You’re Doing it Wrong[/h1]
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Well I just finished reading The Millionaire Next Door and according to that most millionaires are in their 50's and are mostly entrepreneurs...then there's the rest like physicians, accountants, etc.
More importantly, the book mostly stressed that most millionaires lived frugally and were not always buying the latest and greatest. It actually said most millionaires don't buy luxury vehicles.
Frugality is key.
More importantly, the book mostly stressed that most millionaires lived frugally and were not always buying the latest and greatest. It actually said most millionaires don't buy luxury vehicles.
Frugality is key.
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His research showed that was still true 20 years later before he died last year.
I swore I was reading a reverse biography of my family tree when I was reading that book. Things made so much more sense why certain members were completely helpless and constantly broke.
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I still need to read that book. Frugality is key , I agree.
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Frugality is boring though. Flipside of things, is it much of a life to penny pinch until your 60s just so you can say you have a net worth of $2 million?
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You obviously don't know the meaning of frugality.
In most people's mind,
Having a budget and saving/investing = penny pinching
Spending your entire check living paycheck to paycheck = balling and living life
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I started listening to the audio book but it does no justice. I think I'm gon buy a physical copy to read. Though e-book and all that are coo, I still need to feel the book when I'm reading it.
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Penny pinching to me is driving that 10 year old beater car, only eating out at Applebee's or something, not traveling, not going to music festivals etc. I'm not going to go put myself through all of that just to say I have a net worth of $2 mil or whatever and live a broke life
You obviously don't know the meaning of frugality.
In most people's mind,
Having a budget and saving/investing = penny pinching
Spending your entire check living paycheck to paycheck = balling and living life
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there are so many small things you buy every day that you dont need and dont make your life better
learn to cut those out.
learn to cut those out.
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what defines a rich person anyway?
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Having a lot of money
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Like I said that is not what frugality is, you are way off
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No, if done right, frugality forces you to be creative. Do you buy the newest PS4 that will be worth half in 2 years, or spend time with family on a hike exploring the outdoors and learning about the world? Do you buy the new 70" TV with the deluxe cable package or get involved in sports yourself?
Having money is fun when you have the opportunity to help others with it. That single mom getting her lights turned off next week because life hit her? Seeing her face when you called the electric company to pay next month's bill is priceless. Getting to help that young couple unable to have kids adopt a child? That's fun. Buying a 10 year old beater for someone unable to afford a car? That's fun.
It's all in perspective.
A 10 year old car only becomes a beater if you don't know how to take care of your stuff. You only have to eat at Applebees if you didn't plan where your other money was going.
That's the real question, isn't it? Being "rich", has almost nothing to do with money. Money is a tool, when used properly, can give someone options in life.