🔥 Join my FREE $1,000 Savings Challenge on Oct 1st → learn.vincentchan.co/save1k 📝 Discover your custom path to financial freedom with your FREE personalized Wealth Action Plan → vincentchan.co/quiz
Zuckerberg owns a private jet and almost an entire island in Hawaii Bezos owns a private jet and has a yacht so big they had to take a bridge down to get it out of the harbor. He just bought a $68M estate in Miami
@@VincentChan I liked it and I agree. My ex-wife had a bad case of "keeping up with the Joneses" which has caused me to be hyper-sensitive to this phenomenon. Your videos in general help me keep things in perspective as my A.D.D. nature tends to make me lose focus on what is important. I'm too old now to expect financial freedom, but I hope to be able to instill good money practices in my (now grown up) children and maybe NOT leave them with any form of my own debt and maybe leave them with some kind of legacy. That's my motivation. Thank you Vincent!
I do just look poor unless I compare myself to my neighbors. I wish I had an ex-wife, but then I won't just look poor. My wife always tells me not to go outside because I look too poor.
My neighbours started being very generous recently, giving me lemons from their tree and free eggs. I asked why, my neighbour said they thought I was struggling financially because I'm driving a 10 year old Toyota Highlander. I didn't realise my car made me look poor 😂
Looking poor - yes! I was enamored to buy my first ever luxury branded bag - I saved up for it, because I thought I deseve something "nice" to elevate my look. The time I entered the shop, sales ladies barely entertained me, I inquired but I felt they were very disinterested. Came an older lady, and their mood suddenly changed. The way they entertained that woman compared to me was disgusting- I had to leave. I had enough money to buy the bag in cash, I honestly felt really bad for myself. So bad, I abandoned the plan and hated the luxury brand industry. I just bought more stocks with the savings and treated my mom for a weekend trip. Thank God they ignored me - indeed a blessing in disguise! Never looked back to luxury brands. Ever!
My dad gave me similar advice. I should look poor. Never brag about your wealth. Never tell your siblings, cousins, and aunt's and uncles, you're rich because they want a cut of your wealth. The minute a person wins the lotto everyone wants a cut of that money. I still own my Honda Civic for like almost ten years now. I plan on driving that car until it completely breaks down.
My wife and I live in the same middle class home we purchased in 1987. We paid off the house in 1992 and have had zero debt for the last 32 years. We drive cars that are 8 and 14 years old. Since we are retired, we have no need to buy new clothes and we have every thing we need. I have no doubt our neighbors and friends just think we are two older retirees just struggling to get by like most retirees today. I have absolutely no problem with these individuals thinking we are just getting by day to day. The reality is my wife and I have a net worth of more than $5 million dollars but we want for nothing and we don’t need a new car or a bigger and newer house. We are extremely comfortable living the way we do and have no need to impress others with our wealth.
Before retiring did you think you'd have that much in retirement? And as of right now how much do you think one would need saved up to live the life you live(also no debt and house paid off)?
@@7oeseven793 While I agree home prices make it harder today. Our daughter and son-in-law are both in their mid-30’s He works for a large Fortune 500 company and my daughter is an assistant principal at a high school. They have two children and they have never asked us for any money. In fact my daughter has no idea how rich we really are and she won’t know until we are pushing up daises. We always felt that she should be responsible for making it on her own without relying on our money. They live in a home that is now valued at $1.3 million and my son in law told me the house would be paid off in a little over 3 years, They live on 70% of their income and invest the remaining money each month. My son in law asked me when they were engaged how I was able to retire as young as I did. I told him to always live well below your means and to stay out of debt. The only debt they have at this time is their house payment. Since they use the same financial advisor we do, I know they have at least $500,000 in investments because that is the minimum amount needed to invest with that particular advisor. So while it might not be as simple today as it was when I was younger to grow your money. It is still very possible if you have the skill set needed in the job market and you are willing to be frugal with your money instead of trying to impress others by living beyond your means.
On the other hand - it’s sometimes counterproductive to think only about saving and not enjoy the fruits of your work. You can’t bring that money to your grave.
As a 7 figure guy rapidly building his wealth, perhaps I can share some context to this video. While you are building your wealth you need to live below your means, or look poor, whatever you want to call it. This is because you typically are trading your time for money. Once you have sufficient investments such that you are no longer trading your time for money, that is to say your investments pay for your lifestyle, you can then start to enjoy yourself. Also realize the more stuff you have, the more repairs, insurance, etc you need. If you view your life as a balance sheet, and you should, repairs, insurance, depreciation, storage, etc, those are straight up financial losses, and all these items need your time and they restrict your freedom. To me, freedom is the ability to move wherever I want, when I want, and never have to worry about running out of money. Hope someone finds value in my comment.
not really, some people live lifestyles beyond their means even if they have money. not everyone, but lotta people do it.. living with debt is the new american dream. nobody buys their home outright, people pay monthly.. like their car. it maybe a lambo, ferrari, bmw, mercedes.. people in general pay for big ticket items over time
@@altseason_musik I think he is saying that all of camels comments become harder when you are not single with no kids. Less responsibilities, easier to do as you wish when you wish.
The wealthy people aren't actively trying to look poor, they're just favoring pragmatism instead of buying into the overpriced luxury goods market. Calling this mindset "trying to look poor" doesn't really capture the same intent.
yeah it's a stupid conclusion, but people wil watch this video and take on advice from a stranger who has no real qualification in anything they're talking about. The internet and podcast has created a lot of fake experts
I'm noticing something strange in the financial space on UA-cam. Many UA-camrs are creating carbon-copies of videos within a short window. I saw the video on Middle Class Habits keeping you poor pop up on 3-4 channels a few weeks ago. Then I saw the same videos about net worth going up after 100k, then videos titled why 100k is not enough. About a week ago, I saw 2 content creators make videos titled "why looking poor is important" so I thought to myself "hmm, I wonder if this exact video will show up a few more time." Sure enough, here they all are. It's almost like there's a coordinated effort to flood the space with specific videos...
I noticed it as well.. perhaps they just ran out of ideas, clearly they're not as creative as we thought. They've run out of imagination, they're just incompetent copycats. If they look at other influencers content and if the content is generating a lot of views, then they make the same video to get as much views as possible.
All of the self-help, finance, fitness, psychology etc. content on youtube has been studied, written about and shared for generations in good old fashioned books. None of the content is truly original, just repackaged for a new audience/generation. And I think it's great that it's getting out there for people to learn, whatever the medium!👍
I think there's a difference between spending a bit of money to look well put together vs. having your wardrobe look like you completely let yourself go.
@@ManojKChat Almost everyone has a smart phone these days, if you don't, libraries still exist (in spite of all attempts to close them) yes some people don't make an effort but not everyone can get out of poverty.
There's a book called Hidden Time Wealth, and it talks about how using some secret techniques, you can overcome procrastination and accomplish anything in life. It's not just a bunch of empty promises; it's the real deal.
My mom also gave me the same advice..to look poor and that materialistic things are not worth it but making the superficial things turn to something useful is much more fulfilling.
Most important thing “knowledge” do not hesitate to invest in some good money books like “The Hidden Truths Of Wealth” that book helped me to start my first business, I have never read anything like money secrets which are in that book
IMPORTANT this guy is most likely a fake account trying to make it look like this book is helpful. Do not buy this book as this is most likely a scam. Just dislike the comment
I think its more about using what you have and buying high quality stuff that can last you for a while. It is less about who is rich and who is poor. I will never be the top 1% and I am oké with that. Do I sometimes want a new nice looking shirt or replace my old shoes? Ofcorse! Take care of yourself and focus on your own life 😊.
I'm so good at looking poor, I've signed up for food stamps, medi-cal, WIC, take the bus, and currently waiting in line at the food pantry. Also emptied out my bank account 14 years ago, shop at Goodwill,
This video is so true, I drive a modest car, use the cast iron skillets my grandmother gave me, have a small paid off house and when I do spend, I shop for bargains. Now in retirement I'm happy, comfortable and have more than enough to get by. This beats the heck out of keeping up with the joneses.
@@VincentChan It’s about having your research right for the video. Like ur video was great but if the facts will keep on being simply wrong then I’m not gonna watch them anymore. Especially since you are giving advice about finance, if the facts are wrong, the conclusion might be wrong, which can fuck up peoples finances.
Growing up poor always made me understand that it can always be worse than what I have now. Being poor made me confidant that I can cope without and am able to prioritise needs and wants.
True idk why he ignored that fact because its commonly known that they all waste their money on those shirts (unless they are secretly bulletproof or smth😂) and that jeff bezos has many 'rich people' cars not just that honda elon musk pretended to live in a small house but he also owns a big mansion
@@Agent77Xyou clearly added too much paint chips into your cereal bowls the person wearing casual clothing had more than enough money the salon misjudged the customer and lost
As an owner of a small carpenters business my father one day went to a construction site to meet with the architect. The architect asked him why he is driving such a small (and cheap) Volkswagen Polo. So he asked the architect: "Do you know the difference between Volkswagen and Porsche?" "No", the architect replied. "So there are people who can afford a Porsche but drive a Volkswagen and there are people who can afford a Volkswagen and drive a Porsche."
That’s just what they want to show to their employees. They do have expensive cars too. Looking poor will not help anyone get success. If you want to do good you should feel good too, and for that you should wear and think good too. It totally depends on any individual basis. No one formula can work for all. It’s always us who need to assess ourselves and find the best way we perform and grow. They also wear same clothes because they wants to stay less distracted and focus on what matters to them, but in my opinion we can do it either ways, all that we need is an urgent need to get successful, and fast pacing steps to reach our goal.
I felt trapped in my life at 34. Just keeping up with the bills and never able to do anything. So I sold my house and everything I owned in it. I had two cars and sold one and paid off the other (a 2014 Impala). I did this to re-start life. I invested all of the money from everything I sold and two years later I was able to double it! I lived on my mom’s couch for two years. I was able to retire at 36 yo and live off the interest of my money. I can’t tell you how freeing it is to not have a car payment!!!! I am now able to help my mom pay off her house for helping me out. I refuse to “look rich.”
looking poor is without value. the real value is recognizing that the reason behind your and other peoples desire for expensive, expressive items is really a desire to broadcast certain emotions to strangers, or a way to compensate for the lack of more fundamental human needs, and then to have the emotional self control to deny yourself those urges, because they are symptoms of unresolved, negative emotions, and often identity disorders and other forms of mental illnesses which are very common in modern times. you get the most value for money by buying high quality basics with the most premium material and ideally a custom fit and predominantly neutral, colors. you should have different things for each occasion, but only the minimum amount for each occasion, and items that can fit as many occasions as possible. the less stylistic an item is, the higher its actual value, because those are the ones you will wear the most because ultimately, they are the most appropriate for the most amount of occasions and combinations, and because of that, you will always come back to them, and you will want to get the exactly same thing when its worn out, in contrast to highly stylized items, which you will wear infrequently,and which you will get bored or tired of because they are intrinsically impractical and go with almost no occasion or other items because of their highly stylized nature.
I can personal attest to this video being 100% accurate... the richest people i know A POOR PERSON would never know they are. And the poorest "rich" people i know trick every poor person into thinking they're rich. ALL HAT AND NO CATTLE.
It's not about looking poor (which can sometimes equal to "looking trashy") it's about looking sober and simple, pragmatic and reasonable, which makes you look trust-worthy.
This is great advice 👍 I remember telling a friend that I was going to purchase a new car. Later that day she called and asked me what I got, I said “I got an Altima”…. Her response- “Oh, I thought you were getting a REAL car.” 😳 I said - “It is a REAL car, it has an engine, a steering wheel, 4 tires…” She says- “Oh you know what I mean.” 🤦🏽♀️ No I don’t, but maybe that’s why I was able to purchase my home, pay my bills on time and have a savings. People please DO NOT TRY TO KEEP UP WITH THE JONES…. Half of the time The Jones will end up with nothing to show for all of the money they spent on unnecessary things just to look and feel rich. I promise you it’s not worth it trying to impress others
Frugality and minimalism has always been my go to philosophy on consumerism. Save your money spend it wisely and quietly. Live a simple life, that rat race of luxury and unaffordable goods is just inherently unsustainable and a waste time and effort.
This is actually really informative, but I would like to add that the importance of looking poor is not just about achivecing financially fredom by also feeling a sense of contentment in oneself. A good video keep it up!!!
Honestly I think it's time we all start dressing a bit better (because I'm tired of living in a world where everyone dresses like a low level gangster everywhere or to the lowest common debominator) but I know the video comes down the concept of saving face and psychological aspect of not becoming the victim of an angry mob. Although the decline in the average person's fashion could ve interpreted as a sign that quality of life has declined long term.
Exactly back in the days people would dress up to go to concert, sporting event, date, etc. You did not want to be seen in casual clothes unless you were fixing something.
@@targetegrat I still dress-up this way guess it is, just a generational difference. Prefer to wear a business/church suit and tie and to have my female date, to wear a knee length dress with nylons and heels (smile ... smile).
I agree with your comment 100 percent. Over the past several years, I have ordered from Jos A Banks retail stores three (3) new custom made business suits (smile ... smile).
Got a small 2 bedroom house, small car that's all paid off. My neighbours are all retired and have big cars. If i had an emergency, i have a fund in place to help myself solve the problem, without going into debt. My lifestyle is very frugal, i have a small online business alongside my day job and i literally never buy new clothes. I make big purchases with planning and comparing to prepare and make sure i need the product and that it's the cheapest way to get it. Dressing casually makes a big difference, i know if someone is interested in knowing me, it's me and not my perceived lifestyle they are into. 😊
I think that point no. 3 is the one that makes the most sense here. 1st is common sense, 2nd is not true (you can look rich without spending much, this is why the old money style got so popular, same with other things), 4th is just common sense as well, 5th is right but it's just a repetition of what's in every video. Hence, I think it would be worth to make a video on how not to lose sanity when chasing your financial goals.
I wouldn't think of it as "trying to look poor", but not getting caught up with comparisons and appearances is good advice. Paying extra for popular name brands doesn't make sense to me. But it's good to consider buying things that are moderately priced and good quality. If you know you'll use it longer, it could be a better choice than something cheap that will wear out quickly.
Exactly! He made up a false dichotomy of looking rich vs looking poor, both of which require effort. Instead, you should just look like a sane middle-class person
Modern life has flushing toilets, electric lights, cooling and heating, food from all over the world, modern medicine, cellphones, videogames and the internet. Your standards of living are much higher than the most powerful people who lived only two centuries ago. Keep that in mind and forget the superfluous things that would only barely impress your family, friends and neighbours for a few days.
This is absolutely one of the biggest lessons that could ever be taught. Humanity as a whole could be tackling bigger problems than trying to look rich.
Love your videos but have to disagree in here. I think not everyone is built the same way. Some people don't try to look wealthy when they dress nice, they just like to dress nice! Some people truly enjoy having a Porshe 911, or a nice house. Money is a tool, to ultimately get you happiness. My goal is to maximize the amount of happiness money can get me today, without putting my future me in risk (actually putting future me in a really good position). I think you can achieve all your financial goals without extreme frugality (looking poor), you just need to learn how be intentional with your money
This is how I want my parents and siblings to live. To live content with what they have and not just casually buy anything online that can cost much more. I personally live thrifty. My shoes are usually worth a dollar, clothes range from 10 cents to 2 dollars (converted from PHP to USD). I walk to where I'm going, and I wouldn't say I like buying online if I can buy it in my local area. My favorite game is when people ask me "How much?" and "Where did you buy it?" cuz they're always shocked about it (I know how to style and choose high-quality clothing at thrift stores). We grew up in poverty so I somehow understand why my family likes to spend lavishly on things we really can't afford before. Because they want to feel rich. On the other hand, I am contented with what I have and sell things that I don't need anymore. I don't really care how much I am wearing as long as I can save as much money for the future and afford to dine at any restaurant.
I didn't realize I was doing all of this while I was doing it. But it's paid off, and yes, I look poor, too. I drive a Hyundai and am perfect happy with it.
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
My friends cousin is a tax inspector. She said that when someone comes to her office to complain about high tax, she looks at persons clothes, shoes, watch, anything that will say "this person can pay or cannot". So she said if you go to a tax inspector, look poor !!! 😂
I was in a hospital ward, and I could never get a moment of peace because every few minutes other patients would be walking into my room asking to use this or that (When you're sick, you kinda want to rest and recover, ya know? haha) When I moved a different ward, I'd learned my lesson and purposely wore my worse clothes, kept my valuables out of sight (headphones, switch) and if someone asked if I had something "No sorry, I don't have it". They quickly left me in peace and in fact started to treat me as one of them (which was wonderful! ❤) I learned from them: Most people in a desperate situation won't steal from someone in a similar situation to them, they'll steal from the person they think can afford a replacement. (Also remember, they're in a desperate situation, so be compassionate 💝)
Looking poor. It's a talent that comes to me naturally. Seriously, it is easy to live below your means once you let things go. I retired at 45 from a blue-collar job. Cars paid off. The newest car in the driveway is a 2011 Toyota. House well on its way to being paid off. No student loans. Credit cards paid off. Investments growing. Now I am self-employed and work when I want to work. I charge anywhere from $25-300hr depending on the job, and if I feel like doing it. Had two $2000 days in a row this week. (Automotive repairs.) I have a ceiling job and roof repair job lined up on Monday for another $500 ($100/hr). The money robots (investments) do their thing when I'm feeling lazy.
A lot of middle class people that i know in my city are almost always on trend and buy a lot of things that are trending. While the rich people that i know who have big family business barely keep up with microtrends and instead go to slightly expensive restaurants on a regular basis. Most people are really loud on social media when they have new stuff. But i made a friend who's family business have been running for 3 generations and her iphone is not even iphone 13 or 14. People have been going into trips outside the country this year too, and buying higher end designers to appeal to social media. At the end of the day, most people who appear to be on trend are the ones who are keeping up with their expenses while still buying so many stuff for the sake of "retail therapy" While still paying check by check. Lesson learned, don't often buy stuff if you can't afford them twice their price. Consumerism can only get you so far because trends are becoming really short and you might as well get bored with your stuff when its no longer trendy. "Investment" pieces are no longer worth it these days. It has become to whether or not your stuff is practical, has actual purpose and serve its value. Looking rich wont solve your real problems and insecurities in the long run.
Great video. Some comments are so daft. I wonder if it's on purpose. I agree with your assessment mostly because that's my life. The really wealthy neighbors are extremely quiet; meanwhile, the rich spend on McLarens and luxury fashion. The wealthy are living in paid off homes. It's an affluent community, too.
@VicentChan Greetings. Congratulations on your videos. I discovered them recently and have been gaining insight into the world finance. I was wondering if you have thoughts for older adults though your concepts ,if applied and used correctly, can be used across all age spectrums. Thanks and continued success.
I don't want to LOOK really wealthy, and I don't want to BECOME really wealthy... I don't want my life's focus to revolve around trying to make as much money as possible. I don't wanna be that kind of person.
Agree with most of advice here! Can be irritating though when old people grill you on a nice car you bought because they think you cant retire at forty, as if retirement is the only thing that matters. A car is probably the most important tool you need to have as an American. Your phone is second. Do you need the newest phone or car? No. But they do need to be able to keep up with the times, and it’s okay to keep these important tools reasonably up to date. I hated being grilled on whether I could “afford” my car, god forbid I bought a car that wasn’t 15 years old…
Good evening , i am a french frugalist , definatly agree with you at 100% , this is the best way to be not see as a sad man 😊 , people don't like this , it protects yourself of home and car jacking 😊
For the rich, dressing poor is driven by comfort/ego - the savvy ones will park their $$$ in clothes/accessories that will hold/appreciate over time… i.e Patek/Chrome Hearts.
Genuine question, does the extra 5% calculation take into account the extra 8 years of retirement that you won't be saving anymore? For example if you had $1M dollars and retired at 57 vs 65. You have to stretch that $1M an extra 8 years, assuming you plan on living the same amount of time in both scenarios. For simplicity's sake, let's say you plan to live until 80. If you retire at 65 with $1M that is $67k/year spread across 15 years. That same $1M would be $43k/year spread across 23 years if you retired at 57.
Vincent, I was thinking about how to reply to this video and something came to me. Not sure if, you have done a video on only this topic: In my 20's and 30's, my problem was not trying to have the same or better automobile as my co-worker, church member, or neighbor but, would try to buy the best automobile that, I could afford as opposed to the cheapest quality car for my basic needs. This was also true when it came to my choice of a single family 4-bedroom home (for just my wife and myself). Lucky for me this changed when, I turned age 40. Now in my early 60's, I retired last year. Live in "sunny" Southern California and now, I have a Net Worth of $1.4 million (half in the value of my home and, half in liquid assets) ... and Life is good (smile ...smile).
Insightful video, with an interesting title. While what you said about Jeff Bezos and billionaires is true, I suspect they have have different reason for "looking poor".
I AM poor 😂😭 but I don't like to show off anyway due to my shy and paranoid nature😳 sure, nice things are nice, but I could never waste money on "brand names" just for bragging rights!
Thanks for this educational video, people with severe narcissistic problems would gain so much from it. I'm happy that there are people out there teaching stuff like this.
Look poor is crazy work of advice tbh people will judge you regardless of your status js better advice could of been you saying don’t go broke tryna look rich that makes more sense
Good shoes are a good investment. Especially those that can be resolved. Almost all my other clothing I buy at Costco, Target, or the occasional thrift store. I buy things that fit for have them altered inexpensively. I also drive an old Honda Accord. A great car that cannot seem to find a gas station. 😊 Also insurance is about $45 a month.
BTW, even if Zuckerberg is wearing a t-shirt and jeans doesn't mean those items are cheap. The t-shirt could be a no logo Loro Piana that could set you back USD300+ and the jeans could be, say, from Tom Ford or LV, which could set you back USD300-500 (or more).
They were definitely right about the settings part. I am a middle class person but I have surrounded myself with people who are lower class as far as my job and community. In this way whenever I do compare myself it's in my benefit. I have a 2011 Toyota but most people around me take the bus. I was lucky enough to have inherited my dad's house when he passed, most people around me are renting. I was able to complete university, most people stopped after, or dropped out of, high school I live alone, my expenses are between my cat and myself, most people around me have at least 2 children. However, when I do need to go into the city, I see the cyber trucks and the 2024 vehicles I feel the sadness. Crazy how that works out.
Just stumbled upon your videos, really got me thinking about finance & I'm amazed at your 10K concept. Your advice is actually really valuable & I think I just learned how my lifestyle is about to change.
Great video! I really have a question. For someone with less than $5,000 to invest, how would you recommend we enter the crypto market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach?
Trading without a professional guide.... Hud i laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Great video. I was a process control engineer (just retired 2/21/24) I would always stress test my projects just to make sure it would work under all conditions. Also depending on the government. But I found away of earning more income despite my Retirement. $57k weekly returns has been life changing, after so much struggles.
My outlook on money changed when I realized someone making $200K can retire broke & someone making $80K can retire a millionaire. With the current market movement.
‘Retire at 35 without care in the world’. This is one of those points in the comparison chart that I think you could have avoided saying, makes those of us at 40 questioning our lives 😂
Retiring at 35 is not the win a lot of people think it is. I retired early and still wound up going back to work after a few years simply because work is rewarding. It's more a question of doing work you enjoy. Then it's like a hobby where you also don't have to spend any of your assets because an income is covering everything.
The biggest factor in wealth is whether you think long-term or gratification "now "is primary. Showing growth charts into the future, to people whose real passion is renting Chuckie-Cheese for their 5yr olds Birthday party is a waste of time. -You can look rich or be rich, its hard to do both due to the cost of debt.
You're right - I just started my financial journey. That being getting out of the massive hole from the last five years. It's gonna be a long journey...
The problem is that if you appear poor, people might not offer you the best services and best performance that money can buy for political reasons. For example, say you go to a doctor in a country with no public healthcare system. If you appear poor the doctor might think that you aren't going to be able to afford treatment and will quickly discharge you. If you appear rich, the doctor might give you his best performance and spend many hours curing your sickness.
@@JishinimaTidehoshi Problem is that you won't even know they've discriminated against you. They'll just let you go with a painkiller and say there's nothing we can do.
I think it's obviously an exaggeration. It's not about looking poor. It's about looking like an everyday person. Anna Delvey does come to mind on how she was able to trick the rich into thinking she was rich.
I've reached the point finally where when I do buy something, I buy the one that will have the longest lifespan, rather than the cheapest. Well-crafted leather shoes are resoleable and worth dropping $300 if it means... I don't have to buy shoes again for 10+ years. Well cared for items of relatively good quality (not expensive, but quality) will last long enough to pay for themselves multiple times over in replacement costs you never have to spend. We've reach that point with our furniture, too. Gone are the days of plastic drawers from walmart for my clothes, drawers that warp and break and never close right after a few weeks of use. Here are the days of a proper wooden dresser that will last me another 30-40 years, maybe the rest of my life, if I'm willing to pay the $400-600 cost. I'm not going to spend $5k on an Ashley high end wardrobe, but nothing wrong with real wood and quality build to save in the long run. And for the record, my top goal in vehicle purchases is to never again own anything that was manufactured after 2010. It's mostly electronic garbage in a plastic casing. I'm going back to proper mechanical vehicles but still modern enough to benefit from much of the safety mechanisms still used in today's vehicles.
great video and totally agree! Designer clothes etc will just set you back when you can have the same for much less money (and probably even better quality). I used to work in a jewellery store and realised many designer brands actually don't use good material, you just pay for the name. So if you absolutely want something, then go for quality over brand name.
Thankfully the financial struggle of my parents encouraged me to learn and manage my income successfully. The years of struggle were extremely useful and worth it
I live in a poor neighborhood and it drives me crazy when I see my neighbors driving around in cars that have had expensive modifications. I always feel like screaming at them, "Why did you buy that? You can't afford it!"
I grew up middle- to upper middle class. It meant we were never filthy rich, but as kids we never really wanted for anything either. As a result now, way into my own adulthood, looking like I've got money is entirely unimportant to me. I still shop department store brands of clothing, I have an older car, and don't afford myself any needless ostentation. I am also zero dollars in debt, granted, with a paid off house that I've inherited, but still. I'm living well, and I'm able to sleep at night knowing that no bank can take away my car or my house.
🔥 Join my FREE $1,000 Savings Challenge on Oct 1st → learn.vincentchan.co/save1k
📝 Discover your custom path to financial freedom with your FREE personalized Wealth Action Plan → vincentchan.co/quiz
Where did you get your glasses with clip on?
NO CHILD go gooche or go home.. Lolz naw grab slipper and broom and bucket
Another pro by not appearing wealthy is that you're a lessor target for theft or robbery.
Zuckerberg owns a private jet and almost an entire island in Hawaii
Bezos owns a private jet and has a yacht so big they had to take a bridge down to get it out of the harbor. He just bought a $68M estate in Miami
@@jpd5430 jins!
Oh, I don't just look poor....
😅 what did you think of the video?
@@VincentChan I liked it and I agree. My ex-wife had a bad case of "keeping up with the Joneses" which has caused me to be hyper-sensitive to this phenomenon. Your videos in general help me keep things in perspective as my A.D.D. nature tends to make me lose focus on what is important. I'm too old now to expect financial freedom, but I hope to be able to instill good money practices in my (now grown up) children and maybe NOT leave them with any form of my own debt and maybe leave them with some kind of legacy. That's my motivation. Thank you Vincent!
I do just look poor unless I compare myself to my neighbors. I wish I had an ex-wife, but then I won't just look poor. My wife always tells me not to go outside because I look too poor.
You're an over achiever 😅😂😂😂
😭😭
My neighbours started being very generous recently, giving me lemons from their tree and free eggs. I asked why, my neighbour said they thought I was struggling financially because I'm driving a 10 year old Toyota Highlander. I didn't realise my car made me look poor 😂
They are nice people.
Yes, cars are first parameter that neighboors value your wealth...
I mean.....they're nice neighbirs though with good intentions XD
I have a 2008 Highlander with 335K miles. Can I have some free eggs?
@@SafeEffective-ls2pl i mean. if you were my neighbor you would. Because my family has a chicken coop.
Looking poor - yes!
I was enamored to buy my first ever luxury branded bag - I saved up for it, because I thought I deseve something "nice" to elevate my look. The time I entered the shop, sales ladies barely entertained me, I inquired but I felt they were very disinterested. Came an older lady, and their mood suddenly changed. The way they entertained that woman compared to me was disgusting- I had to leave.
I had enough money to buy the bag in cash, I honestly felt really bad for myself. So bad, I abandoned the plan and hated the luxury brand industry. I just bought more stocks with the savings and treated my mom for a weekend trip.
Thank God they ignored me - indeed a blessing in disguise! Never looked back to luxury brands. Ever!
That’s a great lesson, both for you and the salespeople.
1 calamity will destroy all your material things, you did a great job.
Great story! And the Wisdom to appreciate this lesson of life. Kudos to you.
👏👏👏
I don't care about luxury brands. Clothes should be comfortable, practical and suited for the tasks
My dad gave me similar advice. I should look poor. Never brag about your wealth. Never tell your siblings, cousins, and aunt's and uncles, you're rich because they want a cut of your wealth. The minute a person wins the lotto everyone wants a cut of that money. I still own my Honda Civic for like almost ten years now. I plan on driving that car until it completely breaks down.
I don't even go to gym instead home gym
@@lewismcelroy6946
You need to get out more .
@@earlbee3196 gym is indoor my darling ❤😂🎉
I still drive my 2005 Toyota Altis (although I have a newer, more expensive car) and I don't have any plans of letting it go in the near future. 😊
@lewismcelroy6946 the gym is a worthwhile expense if you actually go
The less you want, the happier you will be 😊
The best friend I have in my life is a balloon called Gary...who could ask for anything more?
BATMAN
No expectations no suffering.
Preach
and less you will have
My wife and I live in the same middle class home we purchased in 1987. We paid off the house in 1992 and have had zero debt for the last 32 years. We drive cars that are 8 and 14 years old. Since we are retired, we have no need to buy new clothes and we have every thing we need.
I have no doubt our neighbors and friends just think we are two older retirees just struggling to get by like most retirees today. I have absolutely no problem with these individuals thinking we are just getting by day to day.
The reality is my wife and I have a net worth of more than $5 million dollars but we want for nothing and we don’t need a new car or a bigger and newer house. We are extremely comfortable living the way we do and have no need to impress others with our wealth.
Before retiring did you think you'd have that much in retirement? And as of right now how much do you think one would need saved up to live the life you live(also no debt and house paid off)?
Yeah that’s not as simple in 2024. You had the advantage of being alive before all that house inflation.
@@7oeseven793
While I agree home prices make it harder today. Our daughter and son-in-law are both in their mid-30’s He works for a large Fortune 500 company and my daughter is an assistant principal at a high school.
They have two children and they have never asked us for any money. In fact my daughter has no idea how rich we really are and she won’t know until we are pushing up daises.
We always felt that she should be responsible for making it on her own without relying on our money. They live in a home that is now valued at $1.3 million and my son in law told me the house would be paid off in a little over 3 years,
They live on 70% of their income and invest the remaining money each month. My son in law asked me when they were engaged how I was able to retire as young as I did. I told him to always live well below your means and to stay out of debt.
The only debt they have at this time is their house payment. Since they use the same financial advisor we do, I know they have at least $500,000 in investments because that is the minimum amount needed to invest with that particular
advisor.
So while it might not be as simple today as it was when I was younger to grow your money. It is still very possible if you have the skill set needed in the job market and you are willing to be frugal with your money instead of trying to impress others by living beyond your means.
On the other hand - it’s sometimes counterproductive to think only about saving and not enjoy the fruits of your work. You can’t bring that money to your grave.
Stealth Wealth i Like it. Congratulations Enjoy you're retirement
As a 7 figure guy rapidly building his wealth, perhaps I can share some context to this video. While you are building your wealth you need to live below your means, or look poor, whatever you want to call it. This is because you typically are trading your time for money. Once you have sufficient investments such that you are no longer trading your time for money, that is to say your investments pay for your lifestyle, you can then start to enjoy yourself. Also realize the more stuff you have, the more repairs, insurance, etc you need. If you view your life as a balance sheet, and you should, repairs, insurance, depreciation, storage, etc, those are straight up financial losses, and all these items need your time and they restrict your freedom. To me, freedom is the ability to move wherever I want, when I want, and never have to worry about running out of money. Hope someone finds value in my comment.
Settle down and have kids.
not really, some people live lifestyles beyond their means even if they have money. not everyone, but lotta people do it.. living with debt is the new american dream. nobody buys their home outright, people pay monthly.. like their car. it maybe a lambo, ferrari, bmw, mercedes.. people in general pay for big ticket items over time
@@audience2 yuck
@@audience2 who do you think you are to give orders to others who you dont even know?
@@altseason_musik I think he is saying that all of camels comments become harder when you are not single with no kids. Less responsibilities, easier to do as you wish when you wish.
The wealthy people aren't actively trying to look poor, they're just favoring pragmatism instead of buying into the overpriced luxury goods market. Calling this mindset "trying to look poor" doesn't really capture the same intent.
Maybe the fancy clothes and cars don't really contribute that much to their personal living experience.
Honestly they don't even look poor or trying to, they are simply not too bothered with style and fashion, that's all.
No they are not. Bezos has multiple private planes. It's all a PR stunt.
yeah it's a stupid conclusion, but people wil watch this video and take on advice from a stranger who has no real qualification in anything they're talking about. The internet and podcast has created a lot of fake experts
they don't have to prove anything because the public already knows their high value celebrity title
Anyone else here obsessed with 25 Money Secrets From Donald Trump? It’s like discovering a secret treasure map for wealth!
LOL wat
Just buy his shoes, bible, watch, and NFTs. Then he will be wealthy. How is this a secret?
I'm noticing something strange in the financial space on UA-cam. Many UA-camrs are creating carbon-copies of videos within a short window. I saw the video on Middle Class Habits keeping you poor pop up on 3-4 channels a few weeks ago. Then I saw the same videos about net worth going up after 100k, then videos titled why 100k is not enough. About a week ago, I saw 2 content creators make videos titled "why looking poor is important" so I thought to myself "hmm, I wonder if this exact video will show up a few more time." Sure enough, here they all are. It's almost like there's a coordinated effort to flood the space with specific videos...
I noticed it as well.. perhaps they just ran out of ideas, clearly they're not as creative as we thought. They've run out of imagination, they're just incompetent copycats. If they look at other influencers content and if the content is generating a lot of views, then they make the same video to get as much views as possible.
Yes. Nischa also uploaded a video 2 weeks ago with same title.
All of the self-help, finance, fitness, psychology etc. content on youtube has been studied, written about and shared for generations in good old fashioned books.
None of the content is truly original, just repackaged for a new audience/generation.
And I think it's great that it's getting out there for people to learn, whatever the medium!👍
LOL....that's it.
They all take the same course to teach or make a video of whatever topic. Within a month everybody does the same thing
My wife needs to watch this video so she will leave me alone about my wardrobe 🤣
LOL
Me too!
😂😂
Then show it to her
I think there's a difference between spending a bit of money to look well put together vs. having your wardrobe look like you completely let yourself go.
I look poor.
Because I am poor lol
😭🤣
You have access to the Internet, so no excuses for being poor 😊 you must be joking. right?
Bonus points unlocked 🎉
@@ManojKChat Almost everyone has a smart phone these days, if you don't, libraries still exist (in spite of all attempts to close them) yes some people don't make an effort but not everyone can get out of poverty.
You're dedicated to the role!
There's a book called Hidden Time Wealth, and it talks about how using some secret techniques, you can overcome procrastination and accomplish anything in life. It's not just a bunch of empty promises; it's the real deal.
interesting, who's the author?
My mom also gave me the same advice..to look poor and that materialistic things are not worth it but making the superficial things turn to something useful is much more fulfilling.
Most important thing “knowledge” do not hesitate to invest in some good money books like “The Hidden Truths Of Wealth” that book helped me to start my first business, I have never read anything like money secrets which are in that book
Bro you're taking it out of context, "Reasons Why Looking Poor Is Important "
IMPORTANT this guy is most likely a fake account trying to make it look like this book is helpful. Do not buy this book as this is most likely a scam. Just dislike the comment
bro stop talking shit if you haven't read the book
I think its more about using what you have and buying high quality stuff that can last you for a while. It is less about who is rich and who is poor. I will never be the top 1% and I am oké with that. Do I sometimes want a new nice looking shirt or replace my old shoes? Ofcorse! Take care of yourself and focus on your own life 😊.
100 % agree and also looking after the highly quality items and repairing if possible
I'm so good at looking poor, I've signed up for food stamps, medi-cal, WIC, take the bus, and currently waiting in line at the food pantry. Also emptied out my bank account 14 years ago, shop at Goodwill,
lol yeah all these "classy if you're rich, trashy if you're poor" tips on UA-cam & tiktok. Eyeroll. They'll act like they invented frugality.
This video is so true, I drive a modest car, use the cast iron skillets my grandmother gave me, have a small paid off house and when I do spend, I shop for bargains. Now in retirement I'm happy, comfortable and have more than enough to get by. This beats the heck out of keeping up with the joneses.
Bezos has a $35M car collection and a $500M yacht. He doesn’t drive a 1997 Honda Accord or attempt to look poor.
he was still driving a 1997 Honda Accord years after becoming a billionaire (this was as of 2013)
But it’s 2024 now
@@80sidd yes, it's an example of a person who became a billionaire and was still frugal years afterwards
@@VincentChan it was marketing for selling stock to investors. Frugal man = frugal comany with little waste.
@@VincentChan
It’s about having your research right for the video.
Like ur video was great but if the facts will keep on being simply wrong then I’m not gonna watch them anymore.
Especially since you are giving advice about finance, if the facts are wrong, the conclusion might be wrong, which can fuck up peoples finances.
Thank goodness! I am REALLY good at looking poor.
Haha, me too. I try to look invisible as much as possible.
Growing up poor always made me understand that it can always be worse than what I have now. Being poor made me confidant that I can cope without and am able to prioritise needs and wants.
Miami bro that makes $50k/year - drives a Maserati (salvaged of course). Seattle dude that makes $300k/year drives a Prius.
which one are you?
The one in the middle 😀
Try driving a Renault Twingo then. Parks better than a Prius and much cheaper 😂. Just don't buy Renault stocks, though 😂
I work from home. So neither
I have a bicycle
That grey tshirt on zuck cost 500$
True idk why he ignored that fact because its commonly known that they all waste their money on those shirts (unless they are secretly bulletproof or smth😂) and that jeff bezos has many 'rich people' cars not just that honda elon musk pretended to live in a small house but he also owns a big mansion
They want to wear brands but with no branding on it, its like u walking around like a Ad... @@Th3Visitor
Have you seen the title? It says LOOKING POOR, not being poor...
@@alvaronos Who are they looking poor too. Anybody that they are around is rich.
@@appollo1826 is giving the illusion that they're everyday people eventhough theyre the 1%.
Basic psychology plays
I dropped by a high end salon that accepted walk-ins wearing jeans and a t-shirt and they refused me service
what! thats outrageous
@@VincentChan thank you
I thought so too
most likely not because of clothing, but because of your physicality, face and mannerisms making you look poor.
The salon has standards to keep the riffraff out so rich people will have a good time not having to deal with the poor people!😊
@@Agent77Xyou clearly added too much paint chips into your cereal bowls the person wearing casual clothing had more than enough money the salon misjudged the customer and lost
As an owner of a small carpenters business my father one day went to a construction site to meet with the architect. The architect asked him why he is driving such a small (and cheap) Volkswagen Polo.
So he asked the architect:
"Do you know the difference between Volkswagen and Porsche?"
"No", the architect replied.
"So there are people who can afford a Porsche but drive a Volkswagen and there are people who can afford a Volkswagen and drive a Porsche."
That’s just what they want to show to their employees. They do have expensive cars too.
Looking poor will not help anyone get success.
If you want to do good you should feel good too, and for that you should wear and think good too.
It totally depends on any individual basis.
No one formula can work for all. It’s always us who need to assess ourselves and find the best way we perform and grow.
They also wear same clothes because they wants to stay less distracted and focus on what matters to them, but in my opinion we can do it either ways, all that we need is an urgent need to get successful, and fast pacing steps to reach our goal.
I felt trapped in my life at 34. Just keeping up with the bills and never able to do anything.
So I sold my house and everything I owned in it. I had two cars and sold one and paid off the other (a 2014 Impala). I did this to re-start life. I invested all of the money from everything I sold and two years later I was able to double it!
I lived on my mom’s couch for two years. I was able to retire at 36 yo and live off the interest of my money.
I can’t tell you how freeing it is to not have a car payment!!!!
I am now able to help my mom pay off her house for helping me out.
I refuse to “look rich.”
looking poor is without value. the real value is recognizing that the reason behind your and other peoples desire for expensive, expressive items is really a desire to broadcast certain emotions to strangers, or a way to compensate for the lack of more fundamental human needs, and then to have the emotional self control to deny yourself those urges, because they are symptoms of unresolved, negative emotions, and often identity disorders and other forms of mental illnesses which are very common in modern times.
you get the most value for money by buying high quality basics with the most premium material and ideally a custom fit and predominantly neutral, colors. you should have different things for each occasion, but only the minimum amount for each occasion, and items that can fit as many occasions as possible.
the less stylistic an item is, the higher its actual value, because those are the ones you will wear the most because ultimately, they are the most appropriate for the most amount of occasions and combinations, and because of that, you will always come back to them, and you will want to get the exactly same thing when its worn out, in contrast to highly stylized items, which you will wear infrequently,and which you will get bored or tired of because they are intrinsically impractical and go with almost no occasion or other items because of their highly stylized nature.
I can personal attest to this video being 100% accurate... the richest people i know A POOR PERSON would never know they are. And the poorest "rich" people i know trick every poor person into thinking they're rich.
ALL HAT AND NO CATTLE.
ALL FUR COAT AND NO KNICKERS.
All talk no action
It's not about looking poor (which can sometimes equal to "looking trashy") it's about looking sober and simple, pragmatic and reasonable, which makes you look trust-worthy.
This is great advice 👍 I remember telling a friend that I was going to purchase a new car. Later that day she called and asked me what I got, I said “I got an Altima”…. Her response- “Oh, I thought you were getting a REAL car.” 😳 I said - “It is a REAL car, it has an engine, a steering wheel, 4 tires…” She says- “Oh you know what I mean.”
🤦🏽♀️ No I don’t, but maybe that’s why I was able to purchase my home, pay my bills on time and have a savings. People please DO NOT TRY TO KEEP UP WITH THE JONES…. Half of the time The Jones will end up with nothing to show for all of the money they spent on unnecessary things just to look and feel rich. I promise you it’s not worth it trying to impress others
Nissan Altima's are known to have terrible transmissions. Many of them break at 20K miles.
if i saw my neighbor with a tesla cybertruck....i wouldn't buy a porsche....i would just laugh at them
Frugality and minimalism has always been my go to philosophy on consumerism. Save your money spend it wisely and quietly. Live a simple life, that rat race of luxury and unaffordable goods is just inherently unsustainable and a waste time and effort.
Yes. The ultimate goal is to have nothing = happiness. Likewise more things, more desire, more shits = more problems
@@babibrain who's ultimate goal is that? Ask people who have nothing how happy they are,LOL
This is actually really informative, but I would like to add that the importance of looking poor is not just about achivecing financially fredom by also feeling a sense of contentment in oneself.
A good video keep it up!!!
Honestly I think it's time we all start dressing a bit better (because I'm tired of living in a world where everyone dresses like a low level gangster everywhere or to the lowest common debominator) but I know the video comes down the concept of saving face and psychological aspect of not becoming the victim of an angry mob. Although the decline in the average person's fashion could ve interpreted as a sign that quality of life has declined long term.
I like how people dressed in the 50's. Classy
Exactly back in the days people would dress up to go to concert, sporting event, date, etc. You did not want to be seen in casual clothes unless you were fixing something.
@@targetegrat I still dress-up this way guess it is, just a generational difference. Prefer to wear a business/church suit and tie and to have my female date, to wear a knee length dress with nylons and heels (smile ... smile).
I agree with your comment 100 percent. Over the past several years, I have ordered from Jos A Banks retail stores three (3) new custom made business suits (smile ... smile).
I only wear uniqlo I hope I don't look like a low level gangster
the poor want to look rich
and the rich want to look poor
whyy
@@motivationalchad..boring more you get more you bore
The rich tend to look rich too... Even Bezos, who he talks about in the video, has a car collection worth 8 digits and a yacht worth 9 digits.
Got a small 2 bedroom house, small car that's all paid off. My neighbours are all retired and have big cars. If i had an emergency, i have a fund in place to help myself solve the problem, without going into debt. My lifestyle is very frugal, i have a small online business alongside my day job and i literally never buy new clothes. I make big purchases with planning and comparing to prepare and make sure i need the product and that it's the cheapest way to get it. Dressing casually makes a big difference, i know if someone is interested in knowing me, it's me and not my perceived lifestyle they are into. 😊
I think that point no. 3 is the one that makes the most sense here. 1st is common sense, 2nd is not true (you can look rich without spending much, this is why the old money style got so popular, same with other things), 4th is just common sense as well, 5th is right but it's just a repetition of what's in every video.
Hence, I think it would be worth to make a video on how not to lose sanity when chasing your financial goals.
I wouldn't think of it as "trying to look poor", but not getting caught up with comparisons and appearances is good advice. Paying extra for popular name brands doesn't make sense to me. But it's good to consider buying things that are moderately priced and good quality. If you know you'll use it longer, it could be a better choice than something cheap that will wear out quickly.
Exactly! He made up a false dichotomy of looking rich vs looking poor, both of which require effort. Instead, you should just look like a sane middle-class person
Modern life has flushing toilets, electric lights, cooling and heating, food from all over the world, modern medicine, cellphones, videogames and the internet. Your standards of living are much higher than the most powerful people who lived only two centuries ago. Keep that in mind and forget the superfluous things that would only barely impress your family, friends and neighbours for a few days.
this is why i don't understand branded clothing, paying more to look rich ..i think it makes you look poor
poor people buying advertisements LMAO
It does , but it definitely makes the brand owners rich😂😂
This is absolutely one of the biggest lessons that could ever be taught. Humanity as a whole could be tackling bigger problems than trying to look rich.
Love your videos but have to disagree in here. I think not everyone is built the same way. Some people don't try to look wealthy when they dress nice, they just like to dress nice! Some people truly enjoy having a Porshe 911, or a nice house. Money is a tool, to ultimately get you happiness. My goal is to maximize the amount of happiness money can get me today, without putting my future me in risk (actually putting future me in a really good position). I think you can achieve all your financial goals without extreme frugality (looking poor), you just need to learn how be intentional with your money
Yes. The more you look poor, the poorer you will become.
Agree. Balance is the key
This is how I want my parents and siblings to live. To live content with what they have and not just casually buy anything online that can cost much more. I personally live thrifty. My shoes are usually worth a dollar, clothes range from 10 cents to 2 dollars (converted from PHP to USD). I walk to where I'm going, and I wouldn't say I like buying online if I can buy it in my local area. My favorite game is when people ask me "How much?" and "Where did you buy it?" cuz they're always shocked about it (I know how to style and choose high-quality clothing at thrift stores). We grew up in poverty so I somehow understand why my family likes to spend lavishly on things we really can't afford before. Because they want to feel rich. On the other hand, I am contented with what I have and sell things that I don't need anymore. I don't really care how much I am wearing as long as I can save as much money for the future and afford to dine at any restaurant.
I didn't realize I was doing all of this while I was doing it. But it's paid off, and yes, I look poor, too. I drive a Hyundai and am perfect happy with it.
After I got ill I got a good therapist from hospital. Finally someone that I can really talk to and don’t feel judged ❤❤😊 she’s so swet
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
My friends cousin is a tax inspector. She said that when someone comes to her office to complain about high tax, she looks at persons clothes, shoes, watch, anything that will say "this person can pay or cannot". So she said if you go to a tax inspector, look poor !!! 😂
3:38 until you realize by inflation, you are likely paying all that 200k for just one porsche anyways in 10 years.
I was in a hospital ward, and I could never get a moment of peace because every few minutes other patients would be walking into my room asking to use this or that (When you're sick, you kinda want to rest and recover, ya know? haha)
When I moved a different ward, I'd learned my lesson and purposely wore my worse clothes, kept my valuables out of sight (headphones, switch) and if someone asked if I had something "No sorry, I don't have it". They quickly left me in peace and in fact started to treat me as one of them (which was wonderful! ❤)
I learned from them: Most people in a desperate situation won't steal from someone in a similar situation to them, they'll steal from the person they think can afford a replacement. (Also remember, they're in a desperate situation, so be compassionate 💝)
Looking poor. It's a talent that comes to me naturally.
Seriously, it is easy to live below your means once you let things go.
I retired at 45 from a blue-collar job. Cars paid off. The newest car in the driveway is a 2011 Toyota. House well on its way to being paid off. No student loans. Credit cards paid off. Investments growing. Now I am self-employed and work when I want to work. I charge anywhere from $25-300hr depending on the job, and if I feel like doing it.
Had two $2000 days in a row this week. (Automotive repairs.) I have a ceiling job and roof repair job lined up on Monday for another $500 ($100/hr).
The money robots (investments) do their thing when I'm feeling lazy.
A lot of middle class people that i know in my city are almost always on trend and buy a lot of things that are trending. While the rich people that i know who have big family business barely keep up with microtrends and instead go to slightly expensive restaurants on a regular basis. Most people are really loud on social media when they have new stuff. But i made a friend who's family business have been running for 3 generations and her iphone is not even iphone 13 or 14. People have been going into trips outside the country this year too, and buying higher end designers to appeal to social media. At the end of the day, most people who appear to be on trend are the ones who are keeping up with their expenses while still buying so many stuff for the sake of "retail therapy" While still paying check by check.
Lesson learned, don't often buy stuff if you can't afford them twice their price. Consumerism can only get you so far because trends are becoming really short and you might as well get bored with your stuff when its no longer trendy. "Investment" pieces are no longer worth it these days. It has become to whether or not your stuff is practical, has actual purpose and serve its value.
Looking rich wont solve your real problems and insecurities in the long run.
Great video. Some comments are so daft. I wonder if it's on purpose.
I agree with your assessment mostly because that's my life. The really wealthy neighbors are extremely quiet; meanwhile, the rich spend on McLarens and luxury fashion. The wealthy are living in paid off homes. It's an affluent community, too.
Yes. The extreme rich be better be secretly rich to avoid unnecessary problems
@VicentChan Greetings. Congratulations on your videos. I discovered them recently and have been gaining insight into the world finance. I was wondering if you have thoughts for older adults though your concepts ,if applied and used correctly, can be used across all age spectrums. Thanks and continued success.
I don't want to LOOK really wealthy, and I don't want to BECOME really wealthy... I don't want my life's focus to revolve around trying to make as much money as possible. I don't wanna be that kind of person.
Agree with most of advice here! Can be irritating though when old people grill you on a nice car you bought because they think you cant retire at forty, as if retirement is the only thing that matters. A car is probably the most important tool you need to have as an American. Your phone is second. Do you need the newest phone or car? No. But they do need to be able to keep up with the times, and it’s okay to keep these important tools reasonably up to date. I hated being grilled on whether I could “afford” my car, god forbid I bought a car that wasn’t 15 years old…
Good evening , i am a french frugalist , definatly agree with you at 100% , this is the best way to be not see as a sad man 😊 , people don't like this , it protects yourself of home and car jacking 😊
love it! are you based in france?
@@VincentChan yes ! south of France exactly , enter this town " Valence , south of France "
@@VincentChan yes ! Enter " Valence " south of France , this is where i live
Where are you finding a Toyota Camry for so cheap or even a cyber truck for so cheap lol
Walmart (Between the broccoli and the mushrooms)
@@jamestrent-nw9zbtheir cybertruck expired so I got a Tundra instead
Beat me to it. Can’t even find a used Camry for that right now
For the rich, dressing poor is driven by comfort/ego - the savvy ones will park their $$$ in clothes/accessories that will hold/appreciate over time… i.e Patek/Chrome Hearts.
Genuine question, does the extra 5% calculation take into account the extra 8 years of retirement that you won't be saving anymore? For example if you had $1M dollars and retired at 57 vs 65. You have to stretch that $1M an extra 8 years, assuming you plan on living the same amount of time in both scenarios. For simplicity's sake, let's say you plan to live until 80. If you retire at 65 with $1M that is $67k/year spread across 15 years. That same $1M would be $43k/year spread across 23 years if you retired at 57.
I walk around looking like so much of a hobo that the hobos give me food and cash
Vincent, I was thinking about how to reply to this video and something came to me. Not sure if, you have done a video on only this topic: In my 20's and 30's, my problem was not trying to have the same or better automobile as my co-worker, church member, or neighbor but, would try to buy the best automobile that, I could afford as opposed to the cheapest quality car for my basic needs. This was also true when it came to my choice of a single family 4-bedroom home (for just my wife and myself). Lucky for me this changed when, I turned age 40. Now in my early 60's, I retired last year. Live in "sunny" Southern California and now, I have a Net Worth of $1.4 million (half in the value of my home and, half in liquid assets) ... and Life is good (smile ...smile).
Why is every video of yours a copy paste from Nischa???
great minds think alike
sorry i mean great minds like to copy
Ok dude I thought it was just me. He's def copying her. LITERALLY THE SAME TITLE of the vid she posted 2 weeks before him.
Well I better go sub to her instead
I keep staying look poor, because so many threat when friend look me rich, they then want my money by borrowing and then not wanting to pay it off
Insightful video, with an interesting title. While what you said about Jeff Bezos and billionaires is true, I suspect they have have different reason for "looking poor".
The Box Strategy is golden!! I've never heard this before but will be implementing that asap!! Thanks :)
I AM poor 😂😭 but I don't like to show off anyway due to my shy and paranoid nature😳 sure, nice things are nice, but I could never waste money on "brand names" just for bragging rights!
Same with me. I don't enjoy drawing attention from strangers, especially not in New Orleans -- being flashy is dangerous in many neighborhoods.
Thanks for this educational video, people with severe narcissistic problems would gain so much from it. I'm happy that there are people out there teaching stuff like this.
I’m so glad I found this channel!
that means a lot, thank you!
I never comment on videos but you’re a great speaker. Very well at articulating information. Almost like I’m listening to information therapy. Lol.
Look poor is crazy work of advice tbh people will judge you regardless of your status js better advice could of been you saying don’t go broke tryna look rich that makes more sense
Good shoes are a good investment. Especially those that can be resolved. Almost all my other clothing I buy at Costco, Target, or the occasional thrift store. I buy things that fit for have them altered inexpensively. I also drive an old Honda Accord. A great car that cannot seem to find a gas station. 😊 Also insurance is about $45 a month.
I agree basically with this, until I've gotten police bullying
omg what do you mean police bullying?
You got bullied because you look poor 😢?
I would laugh at the neighbor with the cyber-rust
So finally I am better at something without having to try hard!! Lol
BTW, even if Zuckerberg is wearing a t-shirt and jeans doesn't mean those items are cheap. The t-shirt could be a no logo Loro Piana that could set you back USD300+ and the jeans could be, say, from Tom Ford or LV, which could set you back USD300-500 (or more).
2:05 The icon for the Tesla cybertruck should have been a lemon - #LOL
They were definitely right about the settings part. I am a middle class person but I have surrounded myself with people who are lower class as far as my job and community.
In this way whenever I do compare myself it's in my benefit.
I have a 2011 Toyota but most people around me take the bus. I was lucky enough to have inherited my dad's house when he passed, most people around me are renting. I was able to complete university, most people stopped after, or dropped out of, high school
I live alone, my expenses are between my cat and myself, most people around me have at least 2 children.
However, when I do need to go into the city, I see the cyber trucks and the 2024 vehicles I feel the sadness. Crazy how that works out.
Taking Better help as a sponsor is morally wrong. I'm not gonna continue watching this video and any in the future
Just stumbled upon your videos, really got me thinking about finance & I'm amazed at your 10K concept. Your advice is actually really valuable & I think I just learned how my lifestyle is about to change.
STOP PROMOTING BETTER HELP!!!!!!!!!!! its a scam
Do note the link mentioned in the video needs your email for the result. I can see that it's trying to send you newsletter.
Great video! I really have a question. For someone with less than $5,000 to invest, how would you recommend we enter the crypto market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach?
Trading without a professional guide.... Hud i laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
The concept of Hidden Time Wealth blew my mind. It’s like finding a cheat code for productivity and defeating procrastination.
Great video.
I was a process control engineer (just retired 2/21/24) I would always stress test my projects just to make sure it would work under all conditions.
Also depending on the government.
But I found away of earning more income despite my Retirement. $57k weekly returns has been life changing, after so much struggles.
wow this awesome 👏 I'm 37 and have been looking for ways to be successful, please how do I make such weekly??
@@babytruca02Maria Angelina Alexander I really appreciate her efforts and transparency.
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
My outlook on money changed when I realized someone making $200K can retire broke & someone making $80K can retire a millionaire. With the current market movement.
You're correct!! I make a lot of money without relying on the government.
Investing in stocks and digital currencies is beneficial at this moment.
‘Retire at 35 without care in the world’. This is one of those points in the comparison chart that I think you could have avoided saying, makes those of us at 40 questioning our lives 😂
Retiring at 35 is not the win a lot of people think it is. I retired early and still wound up going back to work after a few years simply because work is rewarding. It's more a question of doing work you enjoy. Then it's like a hobby where you also don't have to spend any of your assets because an income is covering everything.
The biggest factor in wealth is whether you think long-term or gratification "now "is primary.
Showing growth charts into the future, to people whose real passion is renting Chuckie-Cheese for their 5yr olds Birthday party is a waste of time.
-You can look rich or be rich, its hard to do both due to the cost of debt.
It's not about looking poor, it's about being honest
You're right - I just started my financial journey. That being getting out of the massive hole from the last five years. It's gonna be a long journey...
The problem is that if you appear poor, people might not offer you the best services and best performance that money can buy for political reasons. For example, say you go to a doctor in a country with no public healthcare system. If you appear poor the doctor might think that you aren't going to be able to afford treatment and will quickly discharge you. If you appear rich, the doctor might give you his best performance and spend many hours curing your sickness.
Just take out the wallet, man.
@@JishinimaTidehoshi Problem is that you won't even know they've discriminated against you. They'll just let you go with a painkiller and say there's nothing we can do.
I think it's obviously an exaggeration. It's not about looking poor. It's about looking like an everyday person. Anna Delvey does come to mind on how she was able to trick the rich into thinking she was rich.
@@emilyau8023 Everday normal people usually struggle to pay for expensive medical procedures.
I've reached the point finally where when I do buy something, I buy the one that will have the longest lifespan, rather than the cheapest. Well-crafted leather shoes are resoleable and worth dropping $300 if it means... I don't have to buy shoes again for 10+ years. Well cared for items of relatively good quality (not expensive, but quality) will last long enough to pay for themselves multiple times over in replacement costs you never have to spend. We've reach that point with our furniture, too. Gone are the days of plastic drawers from walmart for my clothes, drawers that warp and break and never close right after a few weeks of use. Here are the days of a proper wooden dresser that will last me another 30-40 years, maybe the rest of my life, if I'm willing to pay the $400-600 cost. I'm not going to spend $5k on an Ashley high end wardrobe, but nothing wrong with real wood and quality build to save in the long run.
And for the record, my top goal in vehicle purchases is to never again own anything that was manufactured after 2010. It's mostly electronic garbage in a plastic casing. I'm going back to proper mechanical vehicles but still modern enough to benefit from much of the safety mechanisms still used in today's vehicles.
great video and totally agree! Designer clothes etc will just set you back when you can have the same for much less money (and probably even better quality). I used to work in a jewellery store and realised many designer brands actually don't use good material, you just pay for the name. So if you absolutely want something, then go for quality over brand name.
Thanks for the valuable information provided.
We do not like to look poor. We want to be presentable by wearing clean clothes and from brands that does not exclaim luxury.
I just want well sewn clothes made of natural fibres. Not even so called luxury brands sell these anymore
Thankfully the financial struggle of my parents encouraged me to learn and manage my income successfully. The years of struggle were extremely useful and worth it
I live in a poor neighborhood and it drives me crazy when I see my neighbors driving around in cars that have had expensive modifications. I always feel like screaming at them, "Why did you buy that? You can't afford it!"
I grew up middle- to upper middle class. It meant we were never filthy rich, but as kids we never really wanted for anything either. As a result now, way into my own adulthood, looking like I've got money is entirely unimportant to me. I still shop department store brands of clothing, I have an older car, and don't afford myself any needless ostentation. I am also zero dollars in debt, granted, with a paid off house that I've inherited, but still. I'm living well, and I'm able to sleep at night knowing that no bank can take away my car or my house.
Vincent Chan, Awesome video!