Saturday, April 14, 2018

The Fake Rich

I cannot emphasize how much I saw this in my 20's and then later on in my banking years.  Having to work from the ground up and pay for everything myself I know PRECISELY what it takes to afford things like BMW's, McMansions, and bottle service.  76% of Americans maybe living paycheck to pay check but I would claim nearly 95% of the vehicles you see on the road are leased, borrowed, or otherwise "not affordable" for those who are driving them.

If you want to be rich, and I do mean that, then buy this book and freaking read it.  You'll be richer both in terms of financial wealth and "a wealth of happiness."  If you want to keep doing what you've been programmed to do, and pursue materialism, things and other stuff that won't make you happy, by all means, continue being the "fake rich."


6 comments:

Paul, Dammit! said...

I've been watching the Brazilians in my wife's expat community. We (My nuclear family, I mean) live in a true middle class lifestyle. I suspect that I make more money than some of her friends, but you'd never know it from the conspicuous consumption, vacations and big houses they have. They become citizens and go Full American... but one little hiccup at work, one broken leg, one stolen work truck of lost job, and the house of cards folds and the house gets sold off.

I'll admit to being jealous of the lifestyle at times, even knowing that it's an absolutely retarded thing to do, knowing it can't last. But I'll sit out on my patio, watch the fish in my pond and have a cigar and a glass of cheap whisky, and I'd rather do that than make payments on a lovely car for three years and then have to give it back to the owner with nothing to show for it, or to sit and pray I don't break a leg because I emptied my savings account so my ungrateful kids could ski in Aspen.

Paul Thompson said...

Good advice! On debt: If used correctly, debt can be used to build wealth. There is 'good debt' and 'bad debt'. The vid was describing bad debt. Good debt is money borrowed exclusively to invest.

Take The Red Pill said...

Supposedly Will Rogers said this, and it is GOLD: "Too many people spend money they haven't earned to buy things they don't want to impress people they don't like."

Tucanae Services said...

My father's favorite observation was -- "Don't judge that farmer for the coveralls he wears. In a good year he makes more than most everyone in town -- cash." My avenues to better living:

1. Pay off your debts. Its the best 'investment' you can make. You can't 'win' when the market is yielding 8% but your card debt is running 16%.
2. Buy real estate. But only do so when you KNOW the local market.
3. Close the loop let the power company, trash company, etc rent your money for the utilities you use. Just make sure the yields are in your favor. (Which right now is extremely hard for utilities.)
4. Garden. Grow your own food as much as you can. The side benefit is you can ditch the gym membership as the exercise you get being outdoors is a substitute.
5. For the guys thinking about getting married. At a minimum do a D&B on her. You might find you are signing up to carry $160k of her debt forever for a Julliard education she will never use.

1 paid for house, 2 rentals, investments to last till I an dead, 2 trucks and a 1990 Mercedes diesel that if I have to can run on peanut oil. Earned it all working like a dog since I was 14yo.


Wandering man said...

"do a D&B on her"
What's a D&B?

Take The Red Pill said...

Tucanae Services said...

"You might find that you are signing up to carry $160K of her debt..."


And when you pay off her debt is probably the day (or week) before she divorces you and takes at least 50% of what you have and will earn for possibly the next eighteen years (or longer).
It's happened to more than one good man -- don't be the next man that it happens to.

Standard procedure for any man even thinking about "putting a ring on it", should be:
1) getting at least four hours of counseling about the divorce laws in your state, from a reputable unbiased attorney (if he's a friend, even better).
2) if it is allowed, be an observer in Family Court as an interested member of the public, and go an entire week to observe different cases. Be aware, however, that many Family Courts do not allow any members of the public to observe the proceedings (which makes one ask "why?" Family Courts have an unsavory reputation for anti-male bias and suppression of mens' rights normally found in criminal proceedings).