2:58 Money is a tool to make your life better. Alot of people mistake the idea of frugal living and looking poor, by not investing in themselves! No Improve yourself by learning new skills, saving, budgeting, Investing and achieving financial freedom to enjoy a fruitful life. Wealthy is to be able to live freely
love your comments, everyone keeps talking about educate yourself about investing. Please point Me in a direction of articles and books that are helpful. I've found it difficult to learn online
well thats true until a certain point, you can become so wealthy that the interest from your bank accounts is enough to look rich. you can buy all your material things and the interest from the bank covers it all. unlimited money basically.
I have always lived in the moment and used what i had, and I like cars and have good clothes, watches, tailormade shoes etc. I dont have a lot of money and stocks in dusty deposits but I have invested in my self and I want to show others that I have done good and that I has good taste in style. Not walking around in over washed t shirts and drive in old beaters.
Looking rich, to be able to take part in the party of the rich, to get involved, make buisness, might be OK. (buying a suit or something) But trying to impose the neighbor kids "look, I'm richer than you", that's nonsense.
Good stuff! I am not super wealthy but very comfortable. No debt, house and land paid for, plenty of savings and investments. The most satisfying thing for me is to lay my head down at night and sleep well knowing that I do not have money problems.
I told my kids, there is nothing better than having a paid off home. The psychological serenity knowing that whatever life throws at you, you can still keep a roof over your head is better than any toy you will ever buy.
You might not be super wealthy but you have life I want to end up with. I don’t want all the luxuries in life. I want comfort and security for my family. I love the outdoors and fresh air is free so the more time I can spend outdoors the better 😊
Very true. But many retirees who work hard for years to pay off their mortgages still can't afford their houses due to ballooning property tax. My neighbor has a paid off house and a pension of about $28K. Sounds great right? But his property tax is $30K. Something is wrong with this picture.
you do not have does not mean you are safe. things like household debt of the country, inflation, demography change, etc. would make you poor anyway :)
I am 54 and living an half retirement life. I still work as my company provide food so i don't have to cook. Though the salary is low , it gives me a place where I can socialize with others. I arrive home everyday at 5pm and doing various things that I enjoy including exercise, dining outsides. Now I realize that retirement doesn't mean not working but work freely without pressure, enjoying your life every days.
Last year I did the math and I was fine to retire in 2022. However, I elected to keep working for the fun of it. Work became fun when I realized I didn't have to do it any longer. I only work about 3 days a week now and it's perfect for me. There is no magical answer on when it's time to retire. Each person's situation is different.
I came to the Caribbean over 40 years ago to work in the financial industry and one of the first things I was told by my new colleagues was that the richer the person I was likely to meet, the scruffier they would look. They didn't care what people thought of them they were secure in their own life.
I used to work as a systems engineer in one of the world's best known technology companies. I went to an international symposium of all of the directors from all over the globe. I was young, just 30 I think, and in our luncheon meeting of about 500 people, at a large hotel resort, there was what looked like a bum helping himself to the buffet. I thought that was pretty bold, but not my place to say anything. An hour later, he got up to speak perfectly in multiple languages. He was a VP from Colombia, and had created a persona pattern to avoid kidnapping as a high value target. Very eye opening and a reminder not to jump to conclusions.
@@50tigres79 New Money shows off. Old Money and people who are secure with themselves don't need to peacock around showing off their money. If you don't understand that concept then odds are you're not going to ever be rich some day. Even if you do win the lottery you'll be broke in 5 years like most people. Making money is one skill, holding onto it and making it work for you is a completely different skill. People with old money understand the latter.
The only reason I'd choose not to look rich when wealthy is because (1) I don't see any value in looking rich, and (2) I don't care for people to know that I'm rich. Every wealthy person is frugal. There are no exceptions to this rule. You can't become wealthy by spending everything. A wealthy person who looks wealthy "house, car, clothes" tend to have a lot more money than you realize. Remember that wealth is based on net worth, not income. A lot of people make good money but spend a lot of it looking for happiness. If you want to be financially wealthy the first thing you need to do is keep the cost of your wants and needs lower than what you make.
@@TheFirstRealChewy - Exactly. I'm not rich, but I certainly have the ability to look rich if I wanted to, and still be able to save money. I have zero desire to look rich. But I have friends that are very rich and look rich, but they are still very frugal. They buy the $100K+ car, own nice homes, but they still spend less than they make. They tend to keep their cars for a long time and they take care of the stuff they buy.
@@TheFirstRealChewy - one if the other channels I watch is "The Money Guy Show" and he had a surprising statistic recently. In about half the cases of gaining wealth, the first generation achieves wealth, the second generation enjoys it and the third generation spends the last of it. The fourth generation is back to lower middle class.
He's right on track here, I have a million in assets, no debt, been self employed over 25 years, currently semi-retired, and I live in my very first home purchase, a small ranch in a budget neighborhood, I drive a 20 year old vehicle, and I wear avg clothes. It is not about opposing having nice things, rather it is an attitude about money that poor folks lack. Money should always be working for me, and I should never be a slave to it. I control money, money does not control me.
three years ago I bought my first home with 20% down after saving for years instead of a new car. Best decision ever. Mortgage less than apartment rent and long term equity growth.
Same situation here. 1.2 million in assets, was also self employed for 25 years and worked average 15-16 hours a day. Never trow with money, average clothes, always looking dor the best deals for an average car. Money can buy you free time. Sold my bussines and semi retired at 46 to spend more time with my wife and kids.
Yes to a great extent that is absolutely true in so many cases that I could write a book on documenting of just those folks that I know personally (including my own parents), along with so many others who are poor because of their poor life style choices. I was a therapist for many decades and promoted good decision making throughout my career, and money management tops the list of areas of life that are so often poorly handled causing great misery. Life throws so many curve balls at us that we cannot control, at the very least we ought to minimize the self imposed ones in areas of life we can control.
@@Hippy2021 We all enjoy our own way. The concerning thing is to have one that consider "live and enjoy" as buying fancy, inutile stuff in order to try to impress other people.
lol I don't know why poor people keep writing this everywhere on internet. Maybe it makes you feel better about your pathetic life? Sorry buddy, but rich people love to live flashy too.
@@JaggedMercenary old money tends to be more frugal. When you are really rich, you don't need to show the world your wealth because you know you have it. I've seen millionnaires driving beat up dodge neons but living in a 2 million dollar home
You don’t have to look richer than you are but you don’t have to look poorer than you are as well. Other comments said that it affects how other people treat you and I totally agree. Just buy things that you want within your budget.
Just buy a bunch of 100% cotton black v-neck t-shirts, and never think about what to wear again. Many successful people wear the same thing every day to save time--Steve Jobs, Mark Zuckerberg, Obama. As far as a car goes, nobody cares. What is cooler is when someone is fit and looks attractive. If you're trying to show off with a car or Louis Vuitton luggage when you look like George Costanza, people will just clown on you.
I like good quality things and don't like to pay over and over replacing crappy quality. Also you can just enjoy the things it's not necessarily to impress others. I have handbag brands that are obscure, nobody knows what they're worth, but new they're very pricey, I just happened to get them second hand for very little, and I love them and use them often. Having nice things is not just about status; you can just enjoy the quality and craftsmanship for what it is. simple.
People of ggenerational wealth decent have a style called "the old money style". It's understatement luxury, visible for the ones who know, invisible to those who don't. For example they might wear a watch from A. Lange & Söhne, whoch costs up to 250000 but to the average joe it is invisible because those watches are not fancy or an eye catcher in any way. To the uninitiated it can look like a 500 $ watch. Or they might wear a 7000 $ savile row bespoke suit, again, something that few people notice the difference between that suit and a 500$ Ralph Lauren suit. Or an Italian bespoke 5000 $ cashmere coat, which could also look like a 500 $ Ralph Lauren wool coat or even a 70 $ H&M coat for those who have no clue at all. Cars the same way. There are Mercedes Benz 600 12 cylinder models that from the outside might very well just be a regular 4 or 6 cylinder model because they look pretty much the same.
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I’m in my mid 50’s and spent decades collecting things and in the last 5 years getting rid of things and now highly value experiences (travel, etc.). Enjoy the journey!
Great points... All that matters to me is my health and my sons... Nothing else matters... We are brainwashed by advertisers and HollyWeird... Detoxifying from all that is emancipated...
@@enigma1000 Move to a different state, it is a great opportunity to purge. Especially if you have been living in the same house for decades. It is amazing how much stuff we accumulated.
I sorta have the same story. I make really good money but I collect lots of different things. One day I just decided to stop and sell it all. I knew I had a lot of money into collectibles but had no idea I had so much stuff. All that stuff sitting on shelves all these years could have been collecting interest or dividends instead of colelcting dust. I feel foolish for not figuring this out sooner.
One thing you said really resonated with me. I've always been quick to acknowledge when "past me has taken care of future me," and the more I do that the more I want to do it. It's so nice to realize that you made a small sacrifice some time back and are benefitting from it in a big way right now. And those things accumulate over time. Always. Have an attitude of gratitude.
I have always protected future me. Life is sticky and less comes up when you have prepated. I have a theory that people that don't save do not like themselves and buy more in the present than they can really appreciate to compensate. Most everyone can put something back. The amount is less important than the symbolism of taking action. Future me knows everything I know plus more knowlege and understanding. Our futures are the best asset we have. The 2nd is time which is our real luxury.
@@Vroomfondle1066 Actually no. I am not wealthy, but maybe I will at some point. I however never want to look wealthy. I don't want people to socially interact differently with me, because they think I have money. I don't want others to want my money. I don't want peoples envy. I don't want break ins in my home. I don't want to interact with snobby people who think they are better than everyone else. So no, even if I had a lot of money, I would try to not show that too much.
Well might the truly wealthy want to blend in because as a class they are shafting the other 99.99% of society. However, the truly wealthy live in gated commities and have security up the ying ying so again, it doesn't really matter how they dress.@@DevineAbyss
Great video Azul! I started saving in my 20s, self employed, no debt. One aspect you did not discuss nor has anybody brought up in the comments is the importance of taking care of your health. I'm 64, drug free and extremely healthy. To me, taking care of my health is equally important to taking care of my wealth. The same attitude that builds wealth also builds wealth - a long term perspective. I notice that most people who live a long happy life do both - take care of their health AND their wealth. If you sacrifice your health to earn money in the US you can end up blowing it all on drugs, doctors and long term care. I view every penny I spend taking care of my health as a long term investment in my total well being. I teach yoga 9 times a week and am lucky if I earn $40 a class. Even though that is my side gig it's my mental health program, my drug-free anti-osteoporosis program and a great way for me to share peace and happiness with everyone.
No one knows what the future holds for us but God. It really doesn't matter how well a person takes care of themselves physically, they can still unexpectantly develop an incurable, debilitating health conditions such as: Cancer, Parkinson's Disease, Alzheimer's, Lou Gehrig's Disease, Paralysis etc. Sickness that we have no control over from being stricken with. If somebody exercises and workout 24/7, it won't make any difference. A person can be in a very bad car accident and sustain serious injuries that will drastically change their life forever, and their life will never be the same. I had a cousin who've live a clean, Christian life. She never smoked, drink, nor used drugs and unfortunately, she developed lung cancer and passed away. It was shock to the entire family! Bad things happen to good people, but when it's in God's plan what we do. So, don't feel too confident that nothing will ever happen because you take care of yourself because it can, when you least expect it. We know where we've been, but we don't know where we're going. When it's our time for God take us home to be with Him, there is no way around it, and there nothing we can do about it, whether if we are in good health or not.
Half goes to current self and half goes to future self is how we achieved financial independence over the past 30+ years on a military salary. Great advice that I've shared with many others. Thank you!
Just this last week I was driving my 2014 Pirus, stopped at a light and a guy pulls up to me in his new Jaguar SUV. He glances over, gives me the look of, sorry for you old man, for having to drive that car. I don't look like wealth. I don't act like wealth. I still bend over and pick up a nickel or dime on the road. I often don't get respected, and few will listen to me because they judge me by what they see. It is better that way. When people know you have money, you get treated differently; and often it isn't good. Last, like the poster below, take care of your health! At 63, and I am on no medications. I can still run a 10K almost every day and look years younger than my peers.
Love this post.... I dr8ve a 2008 Ford Ranger 5 speed manual transmission that has less than 100k miles and I can parallel park thar baby like a boss! No back up camera or parking assist required. 🙂😉
LOL, I relate to this video. I'm set for life can buy almost anything I want, and now that I have a lot more money I find I need very little. I like a simple and uncomplicated life and find that true wealth is good health and mutually beneficial human connections. I've spent more on others rather than myself and actually enjoy it. Every time I buy something I think about whether I need or want what I'm examining. It turns out I don't need most products. And I usually use stuff until it wears out to the point it's not worth fixing. Let the neighbors try and keep up with the Joneses!
I totally cam relate. I wanted things when I couldn't afford it but as soon as I could, it lost it's shine. I also did need vs want for a while but I have shifted my buying thought processes. Does this improve my quality of life for me today and well into my future? Few things do but future me is always something I invest in.
Yep, we are multi-millionaires, no debt and just bought our first new car in 20 years, a $31k hatchback, and, being guys have no desire to waste money on fashion and accessories- but live a very good life while looking very middle class. Beautiful, historic cottage and garden we bought for $175k now worth $2M but it’s still just a cottage. Live frugal where it counts but live well wherever you can afford it and brings joy to your life.
Cars are one of the biggest wastes of money. They depreciate horribly and most people tend to overspend on car payments which sabotages their savings and investing goals.
@@pilauopala843 Depends .... once I retired and realized we had more than enough money I bought an exotic psorts car used. It has since appreciated about 10 grand in 3 years so I could make money off of it, but I'll never sell it. Same for some clasic 60s cars that I bought for less than 5 grand in the 80s and now worth $50-125,000 each (XKEs). So, if careful cars can also be a decent investment.
Really dig your content. I’ve gotten into this frame of mind over the last 3-4 years and am really kicking it into overdrive now. House is paid off, 0 credit card debt, car paid for. Don’t have a very high income but I’m currently saving over 20%. Once you get out of the frame of mind that the corporations want you in it’s crazy what you can achieve financially.
My best friend of 40 years has been very successful financially and in all aspects of life. He traded in his 1993 Geo Metro a few years back for a base Ford Fiesta. If you met him on the street you would never have a clue what he's worth. He's also my financial advisor and has taught me a lot over the years. One of the first things he taught me was a vehicle is an expense, not an investment.
@@dbatch5677 Well, the car was maintained and safe. It had about 75k miles on it when he traded it in. It was the same car as a Toyota Corolla, just Geo branded.
@dbatch5677 I'm a master mechanic and my newest car is an '04 VW Jetta TDI with over 300k on the clock. I would get in it and head to Alaska tomorrow. It's how you maintain a vehicle that counts. Just like your house. Who's to say what's a shitbox?
@dbatch5677 One last reply, my younger brother spent as much on nice cars and trucks as I have invested over the years. I have over $2m in investments not counting my home and farm and he has basically nothing except his civil service pension. Buy what makes you feel good.
You are so right. I live in the Philippines with my family. We own about $USD6 million dollars in property - no mortgages - and have a decent income from investments and property rentals. I retired at 50. I don't look rich, but I don't look poor, just average. I don't wear flashy clothes - t-shirt, shorts and sandals, usually. Clean and smart but not showy. I don't wear jewelry or even a watch and I don't have a phone since I have no need for one. My wife owns a couple of cars, but I don't drive them, as I would rather walk or take a trike. Our kids are at university and we provide for them. We live well but not extravagantly. Put simply, if I want something, I can afford it. Most of my large expenses, pre-Covid, at least, goes on trips overseas - travelling economy, unless it's a special treat for the kids, such as when we took a First class train from Paris to Amsterdam or a Business class train from New York to Charlottesville a few years ago. We were actually compelled to because they were the only seats available (both trips, however, were cost-effective since they involved free food and booze). In my experience, especially through living and working for myself in HK, where appearance is of such social importance, for 20 years, a lot of people strive to look wealthy when in fact they are struggling, maybe a couple of paychecks from the street. What I value most is my collection of books and a few pieces of art I've picked up over the years, nothing ostentatious, but quite valuable, and not displayed in an obvious manner.
Millionaire next door here that made my money from earned income only. Average salary per year was 47k. It took me 35 years to hit my 7 figures. Still driving my 2012 Honda Civic. I’m NO show, all dough. I love it because nobody bothers me.
That is why if you win the lottery, you want to win in a state that lets you be anonymous. I know a GA lottery millionaire who was tracked down and killed in his home, had nothing of value in the home, but the robber was determined to get all that he could. If I became rich, I have family members who never need to know.
@@coffeecupconversations so true. If one does win a lottery, one has to make sure they hire an attorney and a good financial adviser. Usually a lottery winner in the past loses all of the money within 7 years.
I met Azul at a seminar once. You'd never know it by the way he dresses. Grandfather shirts most days. He's probably the most humble millionaire i've ever met. ty 4 gr8 insights. God bless
I am 52yrs old and I have started preparing for retirement but with the ongoing effects of high inflation, lower market returns and stagnant wages, achieving a secure early retirement could is more challenging than ever before. I'll appreciate a means of making short term profit from stocks and others.
If you need advise on a short term profitable investment. It may be a good idea to speak with a financial advisor who can help you build strategies based on your individual goals.
That's an outstanding idea. I once tried handling my stock account on my own when my Wife and I started saving for retirement and lost 34% of my funds. That made me decide to consult a financial advisor. Since then, I've earned profits of up to $280,000.
I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
I don't like making such recommendations, but I know Monica Amanda McClure and she's been making really great profits. I think she has a website or something.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
We struggled and raised 5 children, those times taught us to be frugal, so later on we found that building wealth was not difficult, very comfortable in life now. 😊
Yep! Hard times made us be very strict with finances. I can see how one child sought all the finer things as an adult, and the other was so scared to be poor that he works one full time job and does multiple side hustles. I feel bad that I can't relive those days, and rethink how to make it better for them.
Just remember, perception is reality to most people in the workplace. Don’t look poor or sloppy for your job. If you want to be a boss, dress like a boss. Halfway through my career, I’ve realized I could have done more to look professional and present myself better. This could have led to more opportunities. I’ve started to dress better than the average joes in the office because I like to stand out at work. Point is, there is a time to dress to impress. Put your best foot forward. Have confidence in how you look. Dress poor when you are going to Walmart. Stand out when it makes sense. Blend in when it makes sense.
clothing is an investment. If I see that the clothing will give me an advantage, then it makes sense. Buying new clothes when I need to impress makes sense (for the interviews etc. ). And it can be planned, I can even buy at a discount. Sometimes I have to go into a conflict and steer someone - I do it in a suit, it carries more weight. Anyway, buying three La-Coste t-shirts and one pair of Armani pants every month is a total bullshit. Expensive clothes makes sense occasionally for the reasons I described.
Good if you can make them see you are the Boss in rags. Good to teach people from the get go. And this needs no expensive clothes. If they respect you cause of your clothes they follow the Image not the Man in them.
@@ottifantiwaalkes9289 have you ever heard of the Halo Effect? If you're selling anything, and climbing the corporate ladder is one way to sell yourself, you'd better look your best.
I own a very modest house, an 11-year-old very well-kept VW that actually lives in the garage and not on the drive. The car is well-maintained and in pristine condition. I wear sweatpants that cost $20 each. I invested all my money. Now I have a very large retirement account and cash savings. I have no yacht second home toys but I go on luxury cruises for 6 months of the year. Life is good. Save and invest well it will pay off.
The true value of wealth is the freedom it brings to do what you enjoy doing. Some keep working to gain more wealth because they love the challenge of making more wealth. Some of us love travel and use our wealth to travel the world. It’s a great big world out here and seeing as much of it is glorious fun.
I am a 66 year old widower who retired a millionaire. I assure you he is right about not trying to impress. I drive a 16 year old Toyota Camry (base model), live in an 1,850 square foot Cape Cod house, and dress in jeans and polo shirts. When a young man pulls up in the latest Corvette, odds are he has a 7 year car loan.
I'm a few years younger and live the same way. I actually feel much happier. I always wanted a Rolex. Now that I can buy one, I don't want it anymore. My car's a '97 so I have you beat!
@@victorblock3421 Isn't it great knowing social security and Medicare could crash and burn and we could keep going? With no debt, moderate living costs and true financial independence we are as close to freedom as it is possible to be in this world.
I think the confusion Azul and You have is that people don't necessarily buy fancy stuff to impress anyone many people actually enjoy those things, like driving a terrific sports car or wearing sthg nice etc. There is a price they pay for the brand premium but there is some serious manufacturing occurring to get there.
Very true. What's the one thing that can take you out of the game faster than anything? Having debt that you can't pay.That will destroy you financially. I learned this the hard way and now I HATE debt!!!!
Agreed - how we lived most of our lives since we saved our first million decades ago. No reason to attract thieves/others looking to steal part of what you worked for.
@@bradtrades We are fottunate there in that most of our family is self sufficient and doing well om their own. But I have seen bad situations as you suggest.
I drive a 2001 Suburban and I love it. I've built my wealth by developing certain habits that allowed my wealth to grow. Those habits haven't changed even though now I could afford to live much larger.
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Your narrative is so valuable to me because it comes from a position of experience, observation, and enlightenment. It’s not based on book stats only or hearsay. Great job!!!
The truth no one tells you about money is, money can't buy you happiness (this is a fact) but it doesn't mean money doesn't create an avenue for you to have the time to experience happiness. Every retired person actually enjoying their money experiences life in a way you can't understand. They wake up when they feel like, they spend more time with their families, they are more actively involved in their children or grandchildren's lives. I'm going to achieve this level of comfort and peace of mind and it can only come from financial security. i'm currently working on a perfect retirement plan with my FA Olivia rene reyes and in 10 years i'd retire and make up for all the times i lost when my kids were young. wish me luck!
@@ericwilde4583 How do I get to your FA please if you don’t mind, I’d like to start investing as soon as possible because at this rate I might never really be able to afford the luxury I’m looking for
Great message that people need to hear. My wife and I grew up modestly, so we were inclined to be conservative with spending. No debt except for appreciating assets. I learned early that a 2 year old car coming off an executive lease made a thrifty business car. No one knew I paid 50% for that car and there were no monthly car payments. The only way you would guess my net worth is if you came to my house. But to me a good house is a good investment and quality of life. Fancy clothes and toys don't buy happiness. Just a lot of maintenance headaches. Money is for security, experiences and for making money. When I'm done it will all go to a good cause for the community. The benefactors do not know me or that I even exist.
You'll send it to some non profit that will use it to live a plush lifestyle while using 1% of the funds to actually try to help the community. Just go buy services and products that locals make and support the hard working people that actually contribute to society while struggling to get by cause they weren't taught about money and how to make money off of money....really or you could inflate your ego more and give it to some dumb organization.
@@sgtpepperz25 No. Not that at all. There is a known named recipient that provides a service to the community that I like. I buy whatever I want. I just don't load up on crap for the sake of conspicuous consumption. I just don't need that much stuff, and it is nice to not have to worry about money. In the past I have had multiple properties and maintenance headache cars. It is ok if you like being a maintenance manager.
@@nervotica7991 You probably got that right. I have one close friend, my wife. After that it has always been tons of work associates and neighbors that come and go. I am also very comfortable just taking a walk in the park by myself.
Nice video. Living a comfortable life surrounded by loving and nurturing people is best. I work in the healthcare industry; I am so amazed by the rich/ wealthy people who oddly pass on alone with absolutely no inheritance hierarchy. No friends, nothing -nobody. In some cases, not even the dog. All that they have worked for, sacrificed and saved is out the window... The state will do as they please.
Its only when you have nothing and lost everything that people will show their true colors. The ones that'll truly rock with you are the ones that'll help lift you out of your rut.
Most all of this is true. The ones that look "society perception rich" (having expensive cars, flashy things etc) or the ones that fit the expectation from society of what rich/success looks like- usually are in debt or living paycheck to paycheck. They can't separate their ego or image from money. I encounter these people all of the time trying to impress me and they have no idea how wealthy I am. Its not about spending to look rich, its about saving to be rich.
Years ago I had a 2001 Audi A6 which was an absolute joy to drive. But every time I needed maintenance… it was $2000 and then another $2000 and another $2000 each time I brought it in. And then I moved on to a Honda Accord and I think it cost $2000 over the life of the car. I’m now sticking with Honda.
You nailed it brother. Great attitude n outlook. I’m in the same situation, lucky to own multiple properties 💯 debt free, traveled 25 different countries multiple times, and I drive a 10 year old Civic Sedan. I like to blend in and not act or look like I live beyond others. I don’t care what others think of me if they think I’m poor, but believe it or not, many have been so willing to lend me a helping hand cuz they think I’m poor. Stay humble, always 🙏
I remember one time I had my son and my friend's son in the back of my truck. I mentioned that I liked a new truck that I saw driving down the road and my friend's kid (about 10 years old) said why don't you get one? I said well I have enough money to get one cash, but I won't and he asked why not. I told him if you want to be wealthy you can't buy things like that which go down in value quickly. I told him all that fancy stuff can make you broke your whole life. Don't go broke trying to look rich. Sadly his mother does not make good financial decisions (she quit her job a few years ago and cashed out her 401k and lived on it for a year until it was gone, she could have kept working and rolled it over).
I have a pal who has ALWAYS bought the very best things: CARS, BIKES (MOTOS), HOUSES, POOLS, CLOTHES and I retired 42 years ago and he is STILL WORKING HIS ARSE OFF paying down debt. He is a SLAVE to his STUFF. I sold ALL of my stock, my BIG HOUSE, my Mercedes Company Car (I owned the Company), and ALL of our stuff went into storage and 20 years later, we gave it all away to need young couples who needed LADDERS, RAKES, TABLES, CHAIRS, etc. We do not own a home. We full time RV and LOVE IT - LOVE IT - LIVE IT
I know it can be easier said than done but (live within your means) my dad always told me it is not how much you make it it how much you save. Years ago when my wife and I got together we were saving $10 a week. Just start somewhere you will build good habits! Pay yourself first!
Yep. Living _Well_ within your means is not only key to becoming financially secure, it is a more comfortable way to live. I have always allowed myself some toys, but not anything I had to finance. Retired for several years now I finally bought a high end sedan for travelling. I now fret over taking that car out because of the unwanted attention it gets, worry about hotel valets crashing it, keeping the fancy carpet clean, can't do drive-through car wash, etc. Almost more trouble than it's worth.
@@famicomnintendo3212 No, I usually keep cars for quite a while. Besides, that's even more worry about any little scratch and smudge. There's no getting away from the fact that it is someone else's car and will have to be given back one day.
There’s a massive satisfaction in being debt free. Live within your means. Sleep well at night, enjoy the finer things in life. Keep it simple and real.
We've lived well below our means for two decades, building and diversifying our wealth and really only splurging on good quality healthy food. We are at the top of the mountain and bullet proof now. We bought the Porsche. It was not an impulse buy but researched, planned for, worked towards. Feels great.
The beauty of our wealth is we can help our adult kids-one just needed a new compressor for air conditioner-another wanted to send kid to space camp. We were happy to help. With 9 grandkids we expect to pay for all the college they want. My home is paid for and we built it with our own plans so every place is useful and easy to clean on one floor. We spend big on ocean cruises. We LOVE cruises. We go for 30-60 days and drop a big number. So grateful cause we been to Antarctica,Australia, New Zealand and more. Our small house 2 older cars (2006-2014) are all the cost to maintain. Hubby is dying so no more cruises. Looking for a new friend who likes to travel
I've come to realize that the key to amassing wealth lies in making sound investments. I purchased my first home at the age of 21 for $87,000 and sold it for $197,000. My second home, acquired for $170,000, was later sold for $320,000, and my third property, purchased at $300,000, fetched $589,000, with buyers covering all closing costs and expenses. Not reaching a million before retirement feels like an unfulfilled goal._
By your own conscience. Only from a Christian prospective you are told from Christ not to charge more for something at a higher price based on profit to get rich. Your at a risk of judgment. Maybe some don't care however. American way might not be the right way.
I drive a 13 year old Subaru, shop for clothing at Costco, live in a small modest home. The bank account is swelling. It’s nice to have that and live beneath my means.
When i first started work, i made $50k/ year, drove a 2 year old camry. Fast forward 15 years, now i have 15 million net worth and still have a lifestyle of $50k/yr and still drive the same camry. Money gives me options and it gives my family a financial wall that nothing gets through.
It's income statement versus balance sheet. Many that are conspicuous consumers have a strong income stream but a very weak balance sheet. Many that are financially independent are not always income strong but they are frugal and have built strong balance sheets.
Azul, We took your advice and hired an independent wealth manage firm. During our official meeting, the firm revealed to us our net worth is about $7.2M, and this is not taking into account the $820k I just inherited from my wonderful Dad, who passed last month unfortunately. I just turned 60 a few days ago and your videos are convincing me we can afford to retire comfortably. I’d plan to work to 62.5 but realized working longer isn’t worth it anymore although si really enjoy my job, manager and company. Between you and Bill Perkins, I’m almost ready to “pull the trigger”; you guys moved the argument strongly towards retirement. As a long time engineer and modest hobby investor, I’ll just drop the engineering career. Thanks Azul! You’d be a great guy to meet at a coffee shop some day and talk about life!
Couldn't agree more, as I sit here wearing a thrift store t-shirt, a pair of old but still in good shape blue jeans, and with a ~10 year old Subaru in the driveway. But what's in the investment accounts and the 2nd garage is a different story ;)
$39k for a house in 1958 was a huge deal. My grandparents bought a house for $19k at the same time and that was a big deal too. My folks paid $14,600 for a 2000 sq.ft. 4 bedroom which was more than average at the time. $39k was a huge price. I purchased my first house and worked like hell to pay it off in less than 7 years. Because of that, I was able to stick every raise and COLA extra into my 401k and investments for 24 years. Then my ex-wife took everything in the divorce. That was still a good deal for me. I also figured out taxes two ways every year - with and without the kids. I took the difference and used it as a minimum deposit into the kid's college funds every year. If I didn't have kids, that money would have been taxed away anyway, so it didn't really cost me anything. We never needed any student loans until grad school, which we will pay off when they start to become due. In the meantime, free interest. I also seem to fit your profile. My pickup is 23 years old, my car is 29 years old, and I dress like a yard care worker. Golddiggers look at me and run. Heh heh heh...
Well said I say freedom is the ability to control how you spend your time That’s true freedom Retirement in Southeast Asia gave me lower costs so I now control my time I’m in Thailand now
Great tips. However, i also believe in spending and enjoying your current life while you're young, energetic and good looking. You don't know how much time you have. If you only save, save and save for post retirement and something happens to you prior, all that money just goes to your estate? Live a balanced life and make sure to treat yourself as well !
Loved your video. I would just add one thing I would add: CHILDREN! I'm 84 Now. I have 5 children. They are spectacular! I have enough money, but every cent I invested into my children has been a great blessing. They all graduated from college and have or did make a lot of money, and have the most delightful grandchildren I could ever imagine. When the Lord says to invest your money in heaven I think he was right! I took them to Church every Sunday and they learned about the Lord. They taught their children the same thing. Now they love their lives, go everywhere, and do impressive things. I won't be around for the next generation, but it will progress at quantum speed!
Great advice! Me too in high school. Also, i thought wearing the right shoes and shirt would get you "in", but that didnt matter. Live virtuously and choose wisely- the LOVE of money is the root of all evil.
Ive heard this and lived by this. I became comfortable/ complacent and put my trust in the wrong people twice. Yes twice and right now I'm starting from zero. The people that were in my circle including family would kiss my butt when I had money and now I'm a leper. The only one standing by me is my wife. I'm thankful for the clarity this situation has presented and even though we are barely eating, I can start over with a clean slate. Don't concern yourself with people's point of view of you. Don't let life or people knock you down. Simply move on and be happy. We all deserve it and yes so do you
been there, done that. now back on the top again, my greedy (well off but greedy to bone) family is maaaad with envy. and no, they are not getting a single penny. nope. been there, done that. now it is me that matters.
I got my dad a nice apartment and Mercedes, paid off the house me and my husband living in and traded in my husbands old car and got X5 for him. im still driving my crosstrek. I don’t waste my money in fashion at all. Getting retired by 40 yrs old which will be a couple of years. I agree what you said, I’m not rich but I only spend my money 0n traveling to see and world and try different food. I worked very hard in my 20s and early 30s pretty much like a machine then started my own in 2020. God has been helping me go thru the difficulties in life and leading me to who I am today. Best wishes to you all.
nope he used to have two junk cars and he couldnt drive in the snow weather after we moved to a new place, he had to drive my car to work back then. he's a car guy so I let him pick his own, and hopefully we can stick with the suv for 10 years. @Don1984-lc9rh
i have an acquaintance, nicest/quiestest guy...regular old joe type, very unassuming ....drives a regular car and has a nice house but nothing crazy...he is worth a half billion...you would never know it...he never ever tries to impress
You make a great argument!! Sometimes people do not get their priority right. Thanks for making this kind of videos!! It is a pity that this wisdom is not taught at schools!! It is great now such knowledge is available online, but still, one has to seek out such advice. Thank you, again!!
This is how we retired at 50 and have well over enough to travel on whim and live where we want. I love living below our means and driving old cars. We drive an old Subaru and Audi which we paid for with cash. We love our life. You’d never know how happy we are to be free of status
Love this one! I totally enjoy the fact that my neighbors probably think we are broke. I reality we have an IDGAF attitude about what others think. :-)
Last week I had to get some emergency welding done on my 6x10 utility trailer. Simple weld job that took 45 minutes. Shop time is usually $120 - $150 an hour (minimum 1 hour charge) + materials / supplies. At the end of the weld job I asked "how much?". He looked at me, eyed me from top to bottom, stopped at my shoes and simply said.... You are a low income that can barely pay for today's lunch. For you, the 1st weld job is "on me....". If wondering, he was wearing cleaner clothes / cleaner shoes and driving a newer age vehicle then me.... For some folks, outer image / outage cleanness does influence.
What is the best way to profit from the current market, meanwhile I'm still undecided about investing $400k in my stock portfolio to get some dvidends and minimize risk
Remember that investing in the stock market carries risks, and it’s important to do your own research and consult with a financial advisor before making any investment decisions.
With the help of an investment advisor, I was able to diversify my $550K portfolio across multiple markets, and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks, ETFs, and bonds
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
Wife and I read the life-changing book “The Millionaire Next Door”…. We were fortunate to have digested and applied these simple living principles early in our now 41 year marriage. Results? We are what the title of the book describes. No regrets whatsoever.
I've read about wealthy people living in super-rich parts of London under perennial threat of home invasion, mugging, as well as targets for predatory scammers. Seems like my idea of hell. I'm far from very wealthy (zero debt + index funds), but it's all stealth wealth and modest living all the way.
Very down to Earth wisdom. It's big brother watching out for your best interest. Wish I had a friend like him. Genuine with years of integrity, keep-up the great work with your sound advice.
I bike everywhere. People laugh... I laugh at them trying to impress. Only in America do people think it's OK to rive alone in car. In Asia that would be waste an need at least one other person to drive to work. Bike forever!live well!
No, I dont want to be wealthy (in terms of money) - I want to be healthy and down to earth and have enough money to live well while disrupting the health of the earth as little as possible. Also I want more people to have enough to live well in the boundries of our planet!!! It is more about TOGETHER well, than ME ME ME!
Good and accurate from my experience. Our net worth is just over $6 million. Indeed we drove Hondas - one went almost 300,000 miles before my son totaled in an accident. Also agree that we see money as a tool to make our lives better/easier, but mostly think of it as a tool to invest to make more money and create additional income streams as a safety net. As for what I wear, agree I tend to look poor. It is often dirty or torn work clothes as I head to Lowes or Menards or an auto parts store for parts as I do most of my own home and auto repairs. I buy what I like, not to impress others as over the years I learned that most people don’t know or are better than me as they might believe, so why should I care what the think ? And I agree a major reason to gather most of our money was to relieve stress as having money makes so many little hassles just go away. When young, it was fear of losing a job and not being able to maintain our lifestyle. As I got older, then it was to ensure we could retire. After retirement, it was that we could afford bucket list items then pay for nursing homes if needed. It wasn't greed, but concern and wanting to save enough to have a chance of overcoming disaters in life.
@davidrous I am always surprised that people do not feel risk around them and save to hedge. By saving, less happens to you and if it does it feels tiny. You flick it off like a mosquito. I never knew how you walked through the world differently. I was our CFO and now have a satisfaction of watching my husband move through the world differently. It is so strange to have instincts, follow them not even understanding why. Then you get there and it hits. Still I never saw modeled what I was trying to achieve.
@@kimberlyfink1032 It is the stress relief many fail to see as the benefit of money. As you said, some crisis hits and if you have money you just throw it at it and move along with your life as normal. But if not enough funds, those things can ruin lives for decades to recover. Several years back we were able to help a family we vaguely knew. The husband lost his job and they had missed 2 house payments and were stressing on losing the house and everything with 3 kids in juniorhigh and high school. Good people. I'd heard a few friends mention how sad and difficult that was going to be if they lost the house but no one was helping. Because we had saved this amount was really little to us so I gave them a check large enough to catch up on payments. He got a job within a month then within 3-4 months they paid everything back. Having money made this a non event for us, and not having it would have had disastrous consequences for them and their kids drrams of college. That, is what money can do when used as a tool to make life easier.
The set of millionaires that (still) do their own DIY and car mechanics is not all that large, but I'm in it too :-) Glad to hear it's not just me these days (DIY car-fixing is falling out of fashion since they got so much proprietary software in them). I do wish I had a double-garage so I could do it indoors but I live somewhere where a double-garage+decent size garden costs £1.5 million so we had to pick one or the other (We picked that garden - any serious car-fixing can wait until summer. And yes I dress badly much of the time and my car (van) is 25 years old. I am trying to pick a newer one as it is getting a bit tired. Have you heard of 'Mr Money Mustcahe', who I feel does a good job of espousing/explaining this approach to life. It's certainly worked for us.
@@xxwookey Good for you ! I have heard of Mr. Money Mustache and read/watched him a little. Seems that for the most part he is saying/doing things I was 40 years ago. But it is nice to see someone sharing good financial tips to those not introduced to the subject before. Indeed it is getting more challenging to work on cars. The basics like oil changes, brakes, and even motor rebuilds are the same so I still can do those. Electronic issues are more challenging and sometimes beat me, but UA-cam has helped diagnose and solve many of these so I always give it a try as it is a great resource. I live in the US Midwest so space isn't a problem - we have 10 acres in the woods where I have a 2-car garage plus a barn with multiple cars. But I do most repairs in town at a friend's huge shop. I bought a car lift I installed there. He and I went together and bought-out a machine shop so we have mills, lathes, welders, etc. and about anything needed to work on cars. He builds race car engines so he even can balance the cranks/etc. if I want on my car restoration projects. A fun playhouse. Cost of living was low here, so accumulating large sums was much easier. We could easily afford higher housing costs similar to yours, but we choose to stay put and spend some of those savings on tools, toys, travel, and more cars. Helping a friend build a log cabin now, then maybe next year I can get back to work on my '67 XKE roadster renovation. Always enjoyed working with my hands and staying busy so retirement for me meant more time to focus on fun things like these. To each their own - enjoy life and good luck in the new year !
I’m a multi millionaire…. I have a nice town house in norther virginia.. but I dont feel rich.. I wear jeans, tennis shoes, and a button shirt everyday i bought from walmart or kohls…. and drive a hyundai elantra… its the n-line version which is an upgrade and I love it but cost only 28K…. so yeah I’m one of those people most call rich but I feel like a middle class regular person… and by the way.. i use coupons all the time… actually only go to where I have a coupon.. :)
@@networth00 My mom lives in south florida in a 3BR villa condo on a lake with a nice fountoun in the middle.. great view... that is about 300K.. her income with SS and a small pension is 2k a month…. she is 80 and is very comfortable… but yeah I get it… the extreme highs and lows are everywhere…. in northern virginia there r 10 milion homes and 500k homes and both are very nice to live in..
@@michikoiesaka3365 I looked at toyota, honda, hyundia, and kia… the hyundia elantra n-line is so much better.. drove each one.. it was an obvious choice… love driving it and the seating is so comfortable and has a nice sound to the muffler tone… great car… I do not like the base elantra.. just to be clear.. the n-line has great upgrades...
@@leehaskins307 Anyone who grew up in the 80s will NEVER buy a hyandia or kia. Those were in the junk yard by 50k miles. I can never forget that. Toyota all the way. I never understood all the "extras" they put on a POS and people will buy them. Oh well.
Money is freedom to make choices, have hobbies and experience life fully. Extreme wealth shows greed, ego and insecurity, although at older ages there sometimes isn't anything else to do. Nice video as always.
I just put $3 million in my pocket on a deal. It didn't happen overnight. I have the lowest IQ in my family and a slow learner but I'm not slow. With hard work, 40 years after college, I finally "made it" about 3 years ago. I immediately got my mom an aid and driver. Thankfully she's 82 and in great health in top 1% of her age group, healthwise. I've survived a heart attack and an accident on my site that broke 1/2 dozen vertabrae and 3 cracks in my pelvis. I never gave up and now swimming in cash. But I live in my 2 bed, 1 bath, $92,000 condo and love driving my 1997 Honda Accord. I shop at Aldi and walmart for all my food and clothing. I'm very happy with what I have and I laugh at all the broke people driving Mercedes. Silly people. Broke people.
Really I worked with school teacher assistants making 32-40k per year and they drive a new Mercedes or Range Rover truck every 3 years! I just laugh and love my paid off 2015 Honda accord. I don’t got nothing to prove!
@@TheEvie202 I may laugh when i see that but also makes me sad to see them destroy themselves. I almost destroyed myself drinking as a kid but I quite by about my 19th birthday.
@@rickwilliams108 I had some good examples growing up and watching people I know just work so hard. I live around Koreans and people don't realize how hard they work and how they sacrifice for their children.
I often tell people winning a lottery would ruin my life. I would give much away. With that said , i live off grid, retired, and need things here I have no money for. Life goes on and so will I. It's that simple.
Years ago my cousin was in an accident. She got a small chunk of money. I remember her saying the happiest day was when the money was gone. You really don't know who is true until you have money then don't again.
@offgridamy: Money does not change people. It only allows them to be what they always were in the first place - like when they had only a modest amount or even not at all. If one was selfish before, he/she will be selfish when receiving that large amount of money. If careful before, careful now. If smart with money before, smart now. If foolish/caeless before, foolish/careless now. If considerate and generous before, considerate and generous now.
@@SouLoveReal interesting. For some i agree for some I dont. Opportunity, free will, circumstances can all alter ones decision making. Heck look at politicians. If you are grounded in a moral code i get what you are saying. Sadly that is not todays reality. A saint will always be a saint ... till he isn't . A rotten cheat will always be a cheat till he isn't. Look at the life of the apostle paul or the avg addict in Kensington. Life is good. Keep it real my friend.
2:58 Money is a tool to make your life better. Alot of people mistake the idea of frugal living and looking poor, by not investing in themselves! No Improve yourself by learning new skills, saving, budgeting, Investing and achieving financial freedom to enjoy a fruitful life.
Wealthy is to be able to live freely
That’s correct, use the tool to improve your life and make it better
love your comments, everyone keeps talking about educate yourself about investing. Please point Me in a direction of articles and books that are helpful. I've found it difficult to learn online
There are many options to explore, get a pro to guide you in. that will make it easier
Thanks for replying, can you recommend any articles and Pro to guide me?
*Growwealthy* *with* *Rachel*
I always tell my kids "there's no faster way to be poor than to try to look rich."
Not just fast but persistent
Excellent! I will tell my kids this as well!
well thats true until a certain point, you can become so wealthy that the interest from your bank accounts is enough to look rich. you can buy all your material things and the interest from the bank covers it all.
unlimited money basically.
I have always lived in the moment and used what i had, and I like cars and have good clothes, watches, tailormade shoes etc. I dont have a lot of money and stocks in dusty deposits but I have invested in my self and I want to show others that I have done good and that I has good taste in style. Not walking around in over washed t shirts and drive in old beaters.
Looking rich, to be able to take part in the party of the rich, to get involved, make buisness, might be OK. (buying a suit or something)
But trying to impose the neighbor kids "look, I'm richer than you", that's nonsense.
Good stuff! I am not super wealthy but very comfortable. No debt, house and land paid for, plenty of savings and investments. The most satisfying thing for me is to lay my head down at night and sleep well knowing that I do not have money problems.
I told my kids, there is nothing better than having a paid off home. The psychological serenity knowing that whatever life throws at you, you can still keep a roof over your head is better than any toy you will ever buy.
You might not be super wealthy but you have life I want to end up with. I don’t want all the luxuries in life. I want comfort and security for my family. I love the outdoors and fresh air is free so the more time I can spend outdoors the better 😊
@@paulconner4614 or fancy vacation.
Very true. But many retirees who work hard for years to pay off their mortgages still can't afford their houses due to ballooning property tax. My neighbor has a paid off house and a pension of about $28K. Sounds great right? But his property tax is $30K. Something is wrong with this picture.
you do not have does not mean you are safe. things like household debt of the country, inflation, demography change, etc. would make you poor anyway :)
I am 54 and living an half retirement life. I still work as my company provide food so i don't have to cook. Though the salary is low , it gives me a place where I can socialize with others. I arrive home everyday at 5pm and doing various things that I enjoy including exercise, dining outsides. Now I realize that retirement doesn't mean not working but work freely without pressure, enjoying your life every days.
@AzulWellsPrivateChat Scammer!
That's great! Working because you want and not because you need must be a freeing sensation.
My job is too high-pressure for that.
Last year I did the math and I was fine to retire in 2022. However, I elected to keep working for the fun of it. Work became fun when I realized I didn't have to do it any longer. I only work about 3 days a week now and it's perfect for me. There is no magical answer on when it's time to retire. Each person's situation is different.
😊❤
I came to the Caribbean over 40 years ago to work in the financial industry and one of the first things I was told by my new colleagues was that the richer the person I was likely to meet, the scruffier they would look. They didn't care what people thought of them they were secure in their own life.
hats off to your colleague for telling the truth.
True
I used to work as a systems engineer in one of the world's best known technology companies. I went to an international symposium of all of the directors from all over the globe. I was young, just 30 I think, and in our luncheon meeting of about 500 people, at a large hotel resort, there was what looked like a bum helping himself to the buffet. I thought that was pretty bold, but not my place to say anything. An hour later, he got up to speak perfectly in multiple languages. He was a VP from Colombia, and had created a persona pattern to avoid kidnapping as a high value target. Very eye opening and a reminder not to jump to conclusions.
This is not true. Check the nba players: Lebron James, stephen curry, etc
@@50tigres79 New Money shows off. Old Money and people who are secure with themselves don't need to peacock around showing off their money. If you don't understand that concept then odds are you're not going to ever be rich some day. Even if you do win the lottery you'll be broke in 5 years like most people. Making money is one skill, holding onto it and making it work for you is a completely different skill. People with old money understand the latter.
The millionaire next door was a life changing book. Not looking rich was one of the subtle messages in it.
The only reason I'd choose not to look rich when wealthy is because (1) I don't see any value in looking rich, and (2) I don't care for people to know that I'm rich.
Every wealthy person is frugal. There are no exceptions to this rule. You can't become wealthy by spending everything. A wealthy person who looks wealthy "house, car, clothes" tend to have a lot more money than you realize. Remember that wealth is based on net worth, not income. A lot of people make good money but spend a lot of it looking for happiness.
If you want to be financially wealthy the first thing you need to do is keep the cost of your wants and needs lower than what you make.
@@TheFirstRealChewy - Exactly. I'm not rich, but I certainly have the ability to look rich if I wanted to, and still be able to save money. I have zero desire to look rich. But I have friends that are very rich and look rich, but they are still very frugal. They buy the $100K+ car, own nice homes, but they still spend less than they make. They tend to keep their cars for a long time and they take care of the stuff they buy.
When I'm feeling rich I wear a T-shirt with a pocket, when I'm just feeling wealthy I wear a T-shirt without a pocket!
@@TheFirstRealChewy im all dough, no show. Living under the radar and nobody bothers me. Life is good and enjoying my freedom
@@TheFirstRealChewy - one if the other channels I watch is "The Money Guy Show" and he had a surprising statistic recently. In about half the cases of gaining wealth, the first generation achieves wealth, the second generation enjoys it and the third generation spends the last of it. The fourth generation is back to lower middle class.
He's right on track here, I have a million in assets, no debt, been self employed over 25 years, currently semi-retired, and I live in my very first home purchase, a small ranch in a budget neighborhood, I drive a 20 year old vehicle, and I wear avg clothes. It is not about opposing having nice things, rather it is an attitude about money that poor folks lack. Money should always be working for me, and I should never be a slave to it. I control money, money does not control me.
three years ago I bought my first home with 20% down after saving for years instead of a new car. Best decision ever. Mortgage less than apartment rent and long term equity growth.
The next best decision you will make will be to aggressively pay off the house and get out from under the bank.
Same situation here. 1.2 million in assets, was also self employed for 25 years and worked average 15-16 hours a day. Never trow with money, average clothes, always looking dor the best deals for an average car. Money can buy you free time. Sold my bussines and semi retired at 46 to spend more time with my wife and kids.
yeah poor folks just lack your amazing attitude, if only they had your attitude they wouldnt be poor any more
Yes to a great extent that is absolutely true in so many cases that I could write a book on documenting of just those folks that I know personally (including my own parents), along with so many others who are poor because of their poor life style choices. I was a therapist for many decades and promoted good decision making throughout my career, and money management tops the list of areas of life that are so often poorly handled causing great misery. Life throws so many curve balls at us that we cannot control, at the very least we ought to minimize the self imposed ones in areas of life we can control.
“Spending tomorrow’s money to look rich today”. So spot on for how so many people live.
Wealth is quiet 🔕 Rich is loud 📢 Poor is flashy 📸
Nahhhhhh wrong totally. On life to live and enjoy. Cannot take money with you to next life
@@Hippy2021 We all enjoy our own way. The concerning thing is to have one that consider "live and enjoy" as buying fancy, inutile stuff in order to try to impress other people.
lol I don't know why poor people keep writing this everywhere on internet.
Maybe it makes you feel better about your pathetic life?
Sorry buddy, but rich people love to live flashy too.
@@Hippy2021 The Viet chick is right!
@@JaggedMercenary old money tends to be more frugal. When you are really rich, you don't need to show the world your wealth because you know you have it. I've seen millionnaires driving beat up dodge neons but living in a 2 million dollar home
You don’t have to look richer than you are but you don’t have to look poorer than you are as well. Other comments said that it affects how other people treat you and I totally agree. Just buy things that you want within your budget.
Just buy a bunch of 100% cotton black v-neck t-shirts, and never think about what to wear again. Many successful people wear the same thing every day to save time--Steve Jobs, Mark Zuckerberg, Obama.
As far as a car goes, nobody cares. What is cooler is when someone is fit and looks attractive. If you're trying to show off with a car or Louis Vuitton luggage when you look like George Costanza, people will just clown on you.
Exactly... they're making it seems as though it's wrong to look nice or buy nice things within your means...so stupid.
I like good quality things and don't like to pay over and over replacing crappy quality. Also you can just enjoy the things it's not necessarily to impress others. I have handbag brands that are obscure, nobody knows what they're worth, but new they're very pricey, I just happened to get them second hand for very little, and I love them and use them often. Having nice things is not just about status; you can just enjoy the quality and craftsmanship for what it is. simple.
People of ggenerational wealth decent have a style called "the old money style". It's understatement luxury, visible for the ones who know, invisible to those who don't.
For example they might wear a watch from A. Lange & Söhne, whoch costs up to 250000 but to the average joe it is invisible because those watches are not fancy or an eye catcher in any way. To the uninitiated it can look like a 500 $ watch.
Or they might wear a 7000 $ savile row bespoke suit, again, something that few people notice the difference between that suit and a 500$ Ralph Lauren suit. Or an Italian bespoke 5000 $ cashmere coat, which could also look like a 500 $ Ralph Lauren wool coat or even a 70 $ H&M coat for those who have no clue at all.
Cars the same way. There are Mercedes Benz 600 12 cylinder models that from the outside might very well just be a regular 4 or 6 cylinder model because they look pretty much the same.
just wear elegantly, it doesn't need to be expensive or branded. just take a bath and wear presentably.
Broke people flex their wealth. Wealthy people say things like "we are comfortable".
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so real estate prices are falling while cost of living increases... curious scenario
My next door neighbor owned a life insurance company.
He’s retired. And owns a 20 year old Mazda 323 LX.
Wonderful mentor.
Great advice! This act of looking wealthy to impress others is probably one of the biggest contributors to poverty.
I’m in my mid 50’s and spent decades collecting things and in the last 5 years getting rid of things and now highly value experiences (travel, etc.). Enjoy the journey!
Getting rid of stuff is harder than you’d think. But worth the effort. Stop buying stuff, sooner is better.
Great points... All that matters to me is my health and my sons... Nothing else matters... We are brainwashed by advertisers and HollyWeird... Detoxifying from all that is emancipated...
@@enigma1000 Move to a different state, it is a great opportunity to purge. Especially if you have been living in the same house for decades. It is amazing how much stuff we accumulated.
I sorta have the same story. I make really good money but I collect lots of different things. One day I just decided to stop and sell it all. I knew I had a lot of money into collectibles but had no idea I had so much stuff. All that stuff sitting on shelves all these years could have been collecting interest or dividends instead of colelcting dust. I feel foolish for not figuring this out sooner.
@@orion7873 You are not the only one !
One thing you said really resonated with me. I've always been quick to acknowledge when "past me has taken care of future me," and the more I do that the more I want to do it. It's so nice to realize that you made a small sacrifice some time back and are benefitting from it in a big way right now. And those things accumulate over time. Always. Have an attitude of gratitude.
I have always protected future me. Life is sticky and less comes up when you have prepated. I have a theory that people that don't save do not like themselves and buy more in the present than they can really appreciate to compensate. Most everyone can put something back. The amount is less important than the symbolism of taking action. Future me knows everything I know plus more knowlege and understanding. Our futures are the best asset we have. The 2nd is time which is our real luxury.
Being wealthy is more fun than looking wealthy😊
Word
yeah, but looking and being wealthy is going to be even better...
@@Vroomfondle1066 Actually no. I am not wealthy, but maybe I will at some point. I however never want to look wealthy.
I don't want people to socially interact differently with me, because they think I have money. I don't want others to want my money. I don't want peoples envy. I don't want break ins in my home. I don't want to interact with snobby people who think they are better than everyone else.
So no, even if I had a lot of money, I would try to not show that too much.
Well might the truly wealthy want to blend in because as a class they are shafting the other 99.99% of society. However, the truly wealthy live in gated commities and have security up the ying ying so again, it doesn't really matter how they dress.@@DevineAbyss
@@Vroomfondle1066 - What value is there in LOOKING wealthy?
"Directness of purpose, self reliance, simplicity of life." "Our health is our wealth." Loved your video. Just a reminder how wealthy we really are.
Great video Azul! I started saving in my 20s, self employed, no debt. One aspect you did not discuss nor has anybody brought up in the comments is the importance of taking care of your health. I'm 64, drug free and extremely healthy. To me, taking care of my health is equally important to taking care of my wealth. The same attitude that builds wealth also builds wealth - a long term perspective. I notice that most people who live a long happy life do both - take care of their health AND their wealth. If you sacrifice your health to earn money in the US you can end up blowing it all on drugs, doctors and long term care. I view every penny I spend taking care of my health as a long term investment in my total well being. I teach yoga 9 times a week and am lucky if I earn $40 a class. Even though that is my side gig it's my mental health program, my drug-free anti-osteoporosis program and a great way for me to share peace and happiness with everyone.
I agree 100% and appreciate my basic home gym of dumbbells and barbells.
Good point. And a walk in the park or a swim in a public pool is just as effective as an expensive gym membership.
Genetics and luck have a lot to do with it ...
True. But a lot of people really take a shot at messing up what they were given.@@pip1723
No one knows what the future holds for us but God. It really doesn't matter how well a person takes care of themselves physically, they can still unexpectantly develop an incurable, debilitating health conditions such as: Cancer, Parkinson's Disease, Alzheimer's, Lou Gehrig's Disease, Paralysis etc. Sickness that we have no control over from being stricken with. If somebody exercises and workout 24/7, it won't make any difference. A person can be in a very bad car accident and sustain serious injuries that will drastically change their life forever, and their life will never be the same. I had a cousin who've live a clean, Christian life. She never smoked, drink, nor used drugs and unfortunately, she developed lung cancer and passed away. It was shock to the entire family! Bad things happen to good people, but when it's in God's plan what we do. So, don't feel too confident that nothing will ever happen because you take care of yourself because it can, when you least expect it. We know where we've been, but we don't know where we're going. When it's our time for God take us home to be with Him, there is no way around it, and there nothing we can do about it, whether if we are in good health or not.
Half goes to current self and half goes to future self is how we achieved financial independence over the past 30+ years on a military salary. Great advice that I've shared with many others. Thank you!
Just this last week I was driving my 2014 Pirus, stopped at a light and a guy pulls up to me in his new Jaguar SUV. He glances over, gives me the look of, sorry for you old man, for having to drive that car.
I don't look like wealth. I don't act like wealth. I still bend over and pick up a nickel or dime on the road. I often don't get respected, and few will listen to me because they judge me by what they see. It is better that way. When people know you have money, you get treated differently; and often it isn't good. Last, like the poster below, take care of your health! At 63, and I am on no medications. I can still run a 10K almost every day and look years younger than my peers.
Love it! I drive a 31 year old car with 240k miles on it. I feel sorry for people with payments.
Love this post.... I dr8ve a 2008 Ford Ranger 5 speed manual transmission that has less than 100k miles and I can parallel park thar baby like a boss! No back up camera or parking assist required. 🙂😉
I have a 1999 and it’s still fine.
Mine is a SEXY Saab. Cooler than most peoples and costs me nothing on gas.
Awesome! I still bug around in my 2011 Nissan, and collect coke cans and bottles every year. It adds up :)
LOL, I relate to this video. I'm set for life can buy almost anything I want, and now that I have a lot more money I find I need very little. I like a simple and uncomplicated life and find that true wealth is good health and mutually beneficial human connections. I've spent more on others rather than myself and actually enjoy it. Every time I buy something I think about whether I need or want what I'm examining. It turns out I don't need most products. And I usually use stuff until it wears out to the point it's not worth fixing. Let the neighbors try and keep up with the Joneses!
I totally cam relate. I wanted things when I couldn't afford it but as soon as I could, it lost it's shine. I also did need vs want for a while but I have shifted my buying thought processes. Does this improve my quality of life for me today and well into my future? Few things do but future me is always something I invest in.
Yep, we are multi-millionaires, no debt and just bought our first new car in 20 years, a $31k hatchback, and, being guys have no desire to waste money on fashion and accessories- but live a very good life while looking very middle class. Beautiful, historic cottage and garden we bought for $175k now worth $2M but it’s still just a cottage. Live frugal where it counts but live well wherever you can afford it and brings joy to your life.
Frugal on most things so you can treat yourself to things that really have meaning to you.
I drive an old car and bought a nice home and invest the free cash to make money.
Cars are one of the biggest wastes of money. They depreciate horribly and most people tend to overspend on car payments which sabotages their savings and investing goals.
@@pilauopala843 Depends .... once I retired and realized we had more than enough money I bought an exotic psorts car used. It has since appreciated about 10 grand in 3 years so I could make money off of it, but I'll never sell it. Same for some clasic 60s cars that I bought for less than 5 grand in the 80s and now worth $50-125,000 each (XKEs). So, if careful cars can also be a decent investment.
@@davidroush1224true about old cars. There is a barn full of amazing cars out on a farm in Littlerock, WA.
Really dig your content. I’ve gotten into this frame of mind over the last 3-4 years and am really kicking it into overdrive now. House is paid off, 0 credit card debt, car paid for. Don’t have a very high income but I’m currently saving over 20%. Once you get out of the frame of mind that the corporations want you in it’s crazy what you can achieve financially.
My best friend of 40 years has been very successful financially and in all aspects of life. He traded in his 1993 Geo Metro a few years back for a base Ford Fiesta. If you met him on the street you would never have a clue what he's worth. He's also my financial advisor and has taught me a lot over the years. One of the first things he taught me was a vehicle is an expense, not an investment.
Why drive an unsafe shitbox car? That's too extreme. If you have Money at least indulge in a safe vehicle.
@@dbatch5677it doesn't matter if you drive a tank. When it's your time, it's your time.
@@dbatch5677 Well, the car was maintained and safe. It had about 75k miles on it when he traded it in. It was the same car as a Toyota Corolla, just Geo branded.
@dbatch5677 I'm a master mechanic and my newest car is an '04 VW Jetta TDI with over 300k on the clock. I would get in it and head to Alaska tomorrow. It's how you maintain a vehicle that counts. Just like your house. Who's to say what's a shitbox?
@dbatch5677 One last reply, my younger brother spent as much on nice cars and trucks as I have invested over the years. I have over $2m in investments not counting my home and farm and he has basically nothing except his civil service pension. Buy what makes you feel good.
You are so right. I live in the Philippines with my family. We own about $USD6 million dollars in property - no mortgages - and have a decent income from investments and property rentals. I retired at 50. I don't look rich, but I don't look poor, just average. I don't wear flashy clothes - t-shirt, shorts and sandals, usually. Clean and smart but not showy. I don't wear jewelry or even a watch and I don't have a phone since I have no need for one. My wife owns a couple of cars, but I don't drive them, as I would rather walk or take a trike. Our kids are at university and we provide for them. We live well but not extravagantly. Put simply, if I want something, I can afford it. Most of my large expenses, pre-Covid, at least, goes on trips overseas - travelling economy, unless it's a special treat for the kids, such as when we took a First class train from Paris to Amsterdam or a Business class train from New York to Charlottesville a few years ago. We were actually compelled to because they were the only seats available (both trips, however, were cost-effective since they involved free food and booze). In my experience, especially through living and working for myself in HK, where appearance is of such social importance, for 20 years, a lot of people strive to look wealthy when in fact they are struggling, maybe a couple of paychecks from the street. What I value most is my collection of books and a few pieces of art I've picked up over the years, nothing ostentatious, but quite valuable, and not displayed in an obvious manner.
Congrats on managing you life. My wife and I live in the Philippines part of the time....in a 43K USD home. It is all we need.
Millionaire next door here that made my money from earned income only. Average salary per year was 47k. It took me 35 years to hit my 7 figures. Still driving my 2012 Honda Civic. I’m NO show, all dough. I love it because nobody bothers me.
That is why if you win the lottery, you want to win in a state that lets you be anonymous. I know a GA lottery millionaire who was tracked down and killed in his home, had nothing of value in the home, but the robber was determined to get all that he could. If I became rich, I have family members who never need to know.
@@coffeecupconversations so true. If one does win a lottery, one has to make sure they hire an attorney and a good financial adviser. Usually a lottery winner in the past loses all of the money within 7 years.
Well done! Be proud of this! YOU should have a you tube channel!
I met Azul at a seminar once. You'd never know it by the way he dresses. Grandfather shirts most days. He's probably the most humble millionaire i've ever met. ty 4 gr8 insights. God bless
If you earned it - live the way that makes YOU happy. Who cares what anyone else thinks. Living in peace is true wealth
I am 52yrs old and I have started preparing for retirement but with the ongoing effects of high inflation, lower market returns and stagnant wages, achieving a secure early retirement could is more challenging than ever before. I'll appreciate a means of making short term profit from stocks and others.
If you need advise on a short term profitable investment. It may be a good idea to speak with a financial advisor who can help you build strategies based on your individual goals.
That's an outstanding idea. I once tried handling my stock account on my own when my Wife and I started saving for retirement and lost 34% of my funds. That made me decide to consult a financial advisor. Since then, I've earned profits of up to $280,000.
I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
I don't like making such recommendations, but I know Monica Amanda McClure and she's been making really great profits. I think she has a website or something.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
We struggled and raised 5 children, those times taught us to be frugal, so later on we found that building wealth was not difficult, very comfortable in life now. 😊
Yup kids are a HUGE wealth killer. If you want to be rich, don't have kids.
Yep! Hard times made us be very strict with finances. I can see how one child sought all the finer things as an adult, and the other was so scared to be poor that he works one full time job and does multiple side hustles. I feel bad that I can't relive those days, and rethink how to make it better for them.
Just remember, perception is reality to most people in the workplace. Don’t look poor or sloppy for your job. If you want to be a boss, dress like a boss. Halfway through my career, I’ve realized I could have done more to look professional and present myself better. This could have led to more opportunities. I’ve started to dress better than the average joes in the office because I like to stand out at work. Point is, there is a time to dress to impress. Put your best foot forward. Have confidence in how you look. Dress poor when you are going to Walmart. Stand out when it makes sense. Blend in when it makes sense.
clothing is an investment. If I see that the clothing will give me an advantage, then it makes sense. Buying new clothes when I need to impress makes sense (for the interviews etc. ). And it can be planned, I can even buy at a discount. Sometimes I have to go into a conflict and steer someone - I do it in a suit, it carries more weight.
Anyway, buying three La-Coste t-shirts and one pair of Armani pants every month is a total bullshit. Expensive clothes makes sense occasionally for the reasons I described.
Good if you can make them see you are the Boss in rags. Good to teach people from the get go. And this needs no expensive clothes. If they respect you cause of your clothes they follow the Image not the Man in them.
@@ottifantiwaalkes9289 have you ever heard of the Halo Effect? If you're selling anything, and climbing the corporate ladder is one way to sell yourself, you'd better look your best.
@@zaratustra27 is what I'm saying. Selling yourself!!
You an do that cheaply though. I buy my good clothes second hand and look smart. I buy my shoes new but that's about it.
I own a very modest house, an 11-year-old very well-kept VW that actually lives in the garage and not on the drive. The car is well-maintained and in pristine condition. I wear sweatpants that cost $20 each. I invested all my money. Now I have a very large retirement account and cash savings. I have no yacht second home toys but I go on luxury cruises for 6 months of the year. Life is good. Save and invest well it will pay off.
The true value of wealth is the freedom it brings to do what you enjoy doing. Some keep working to gain more wealth because they love the challenge of making more wealth. Some of us love travel and use our wealth to travel the world. It’s a great big world out here and seeing as much of it is glorious fun.
I am a 66 year old widower who retired a millionaire. I assure you he is right about not trying to impress. I drive a 16 year old Toyota Camry (base model), live in an 1,850 square foot Cape Cod house, and dress in jeans and polo shirts. When a young man pulls up in the latest Corvette, odds are he has a 7 year car loan.
I'm a few years younger and live the same way. I actually feel much happier. I always wanted a Rolex. Now that I can buy one, I don't want it anymore. My car's a '97 so I have you beat!
@@victorblock3421 Isn't it great knowing social security and Medicare could crash and burn and we could keep going? With no debt, moderate living costs and true financial independence we are as close to freedom as it is possible to be in this world.
Or borrowed from his 401-k
I think the confusion Azul and You have is that people don't necessarily buy fancy stuff to impress anyone many people actually enjoy those things, like driving a terrific sports car or wearing sthg nice etc. There is a price they pay for the brand premium but there is some serious manufacturing occurring to get there.
@@victorblock3421 Too bad because a Rolex can be worn and sold at a premium a few years later.
Very true. What's the one thing that can take you out of the game faster than anything? Having debt that you can't pay.That will destroy you financially. I learned this the hard way and now I HATE debt!!!!
What you have described is called Stealth Wealth. Definitely the way to live if you have some means.
Agreed - how we lived most of our lives since we saved our first million decades ago. No reason to attract thieves/others looking to steal part of what you worked for.
@@davidroush1224 Or worse, relatives wanting to "borrow" money.
@@bradtrades We are fottunate there in that most of our family is self sufficient and doing well om their own. But I have seen bad situations as you suggest.
if you have a zero debt, you are wealthier than most of the people
It's important to look poor when you have money because otherwise all of your friends and family will want money from you.
So true
Truth
Give money to relatives if need.
@@RetireandGoA nice Asian wife 20 years younger than you? 🤣
@@thebigshift It's better to tell the relatives HOW to make money.
I drive a 2001 Suburban and I love it. I've built my wealth by developing certain habits that allowed my wealth to grow. Those habits haven't changed even though now I could afford to live much larger.
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Your narrative is so valuable to me because it comes from a position of experience, observation, and enlightenment. It’s not based on book stats only or hearsay. Great job!!!
This is such a good video. Im 45 now, but I've been telling my friends to buy toyotas or hondas forever. They really help to free up money
The truth no one tells you about money is, money can't buy you happiness (this is a fact) but it doesn't mean money doesn't create an avenue for you to have the time to experience happiness. Every retired person actually enjoying their money experiences life in a way you can't understand. They wake up when they feel like, they spend more time with their families, they are more actively involved in their children or grandchildren's lives. I'm going to achieve this level of comfort and peace of mind and it can only come from financial security. i'm currently working on a perfect retirement plan with my FA Olivia rene reyes and in 10 years i'd retire and make up for all the times i lost when my kids were young. wish me luck!
i'm happy there are lots of people doing so well...Love this channel for the transparency
How did you invest in stock, where did you start, it’s so complex, I know this because I’ve tried so many times
@@harleycartley3138 I work with an FA, honestly, I didn’t know so much about it when I started either
@@ericwilde4583 How do I get to your FA please if you don’t mind, I’d like to start investing as soon as possible because at this rate I might never really be able to afford the luxury I’m looking for
@harleycartley I work with Olivia Rene Reyes, she’s a licensed CFA so look her up, she’s the best
Great message that people need to hear.
My wife and I grew up modestly, so we were inclined to be conservative with spending.
No debt except for appreciating assets. I learned early that a 2 year old car coming off an executive lease made a thrifty business car. No one knew I paid 50% for that car and there were no monthly car payments. The only way you would guess my net worth is if you came to my house. But to me a good house is a good investment and quality of life. Fancy clothes and toys don't buy happiness. Just a lot of maintenance headaches. Money is for security, experiences and for making money. When I'm done it will all go to a good cause for the community. The benefactors do not know me or that I even exist.
You'll send it to some non profit that will use it to live a plush lifestyle while using 1% of the funds to actually try to help the community. Just go buy services and products that locals make and support the hard working people that actually contribute to society while struggling to get by cause they weren't taught about money and how to make money off of money....really or you could inflate your ego more and give it to some dumb organization.
@@sgtpepperz25 No. Not that at all. There is a known named recipient that provides a service to the community that I like.
I buy whatever I want. I just don't load up on crap for the sake of conspicuous consumption. I just don't need that much stuff, and it is nice to not have to worry about money.
In the past I have had multiple properties and maintenance headache cars. It is ok if you like being a maintenance manager.
I bet you have a lot of friends...
@@nervotica7991 You probably got that right. I have one close friend, my wife. After that it has always been tons of work associates and neighbors that come and go. I am also very comfortable just taking a walk in the park by myself.
@@user-od9iz9cv1w - we know, we KNOW. The world is filled with loners like you. Sad dying alone...
Nice video. Living a comfortable life surrounded by loving and nurturing people is best. I work in the healthcare industry; I am so amazed by the rich/ wealthy people who oddly pass on alone with absolutely no inheritance hierarchy. No friends, nothing -nobody. In some cases, not even the dog. All that they have worked for, sacrificed and saved is out the window... The state will do as they please.
I can finally afford something I have wanted for 30 years. A 1993 Caddy 😅😅
You can buy a nice one for $6k max!
Its only when you have nothing and lost everything that people will show their true colors. The ones that'll truly rock with you are the ones that'll help lift you out of your rut.
Most all of this is true. The ones that look "society perception rich" (having expensive cars, flashy things etc) or the ones that fit the expectation from society of what rich/success looks like- usually are in debt or living paycheck to paycheck. They can't separate their ego or image from money. I encounter these people all of the time trying to impress me and they have no idea how wealthy I am. Its not about spending to look rich, its about saving to be rich.
nice. Can you share with us what your income-generating assets are? What are your investments and sources of income?
Well, there is no one single thing. Its a combination of time, savings, stocks ,MLPs, flipping real estate and patience.@@LifeOdysseyMotivation
This is such perfect advice. Being content with what we have and living simply is definitely the way to live. Thanks for such inspiring advice 🥰💞👍🏻
Years ago I had a 2001 Audi A6 which was an absolute joy to drive. But every time I needed maintenance… it was $2000 and then another $2000 and another $2000 each time I brought it in. And then I moved on to a Honda Accord and I think it cost $2000 over the life of the car. I’m now sticking with Honda.
You nailed it brother. Great attitude n outlook. I’m in the same situation, lucky to own multiple properties 💯 debt free, traveled 25 different countries multiple times, and I drive a 10 year old Civic Sedan. I like to blend in and not act or look like I live beyond others. I don’t care what others think of me if they think I’m poor, but believe it or not, many have been so willing to lend me a helping hand cuz they think I’m poor. Stay humble, always 🙏
I remember one time I had my son and my friend's son in the back of my truck. I mentioned that I liked a new truck that I saw driving down the road and my friend's kid (about 10 years old) said why don't you get one? I said well I have enough money to get one cash, but I won't and he asked why not. I told him if you want to be wealthy you can't buy things like that which go down in value quickly. I told him all that fancy stuff can make you broke your whole life. Don't go broke trying to look rich. Sadly his mother does not make good financial decisions (she quit her job a few years ago and cashed out her 401k and lived on it for a year until it was gone, she could have kept working and rolled it over).
I have a pal who has ALWAYS bought the very best things: CARS, BIKES (MOTOS), HOUSES, POOLS, CLOTHES and I retired 42 years ago and he is STILL WORKING HIS ARSE OFF paying down debt. He is a SLAVE to his STUFF. I sold ALL of my stock, my BIG HOUSE, my Mercedes Company Car (I owned the Company), and ALL of our stuff went into storage and 20 years later, we gave it all away to need young couples who needed LADDERS, RAKES, TABLES, CHAIRS, etc. We do not own a home. We full time RV and LOVE IT - LOVE IT - LIVE IT
I know it can be easier said than done but (live within your means) my dad always told me it is not how much you make it it how much you save.
Years ago when my wife and I got together we were saving $10 a week. Just start somewhere you will build good habits! Pay yourself first!
Try $10 a week , then try $12 a week, then $15 a week until you're happy keep going up to where comfortable.
Yep. Living _Well_ within your means is not only key to becoming financially secure, it is a more comfortable way to live. I have always allowed myself some toys, but not anything I had to finance. Retired for several years now I finally bought a high end sedan for travelling. I now fret over taking that car out because of the unwanted attention it gets, worry about hotel valets crashing it, keeping the fancy carpet clean, can't do drive-through car wash, etc. Almost more trouble than it's worth.
Maybe a lease would better suit your needs
@@famicomnintendo3212 No, I usually keep cars for quite a while. Besides, that's even more worry about any little scratch and smudge. There's no getting away from the fact that it is someone else's car and will have to be given back one day.
If the car is more trouble than it's worth, sell it and get something else.
Sounds like a Woman Problem!
@@slydermartin6008 ???
There’s a massive satisfaction in being debt free. Live within your means. Sleep well at night, enjoy the finer things in life. Keep it simple and real.
The common term in FIRE circles is "stealth wealth"...and it is a GREAT philosophy.
We've lived well below our means for two decades, building and diversifying our wealth and really only splurging on good quality healthy food. We are at the top of the mountain and bullet proof now. We bought the Porsche. It was not an impulse buy but researched, planned for, worked towards. Feels great.
The beauty of our wealth is we can help our adult kids-one just needed a new compressor for air conditioner-another wanted to send kid to space camp. We were happy to help. With 9 grandkids we expect to pay for all the college they want. My home is paid for and we built it with our own plans so every place is useful and easy to clean on one floor. We spend big on ocean cruises. We LOVE cruises. We go for 30-60 days and drop a big number. So grateful cause we been to Antarctica,Australia, New Zealand and more. Our small house 2 older cars (2006-2014) are all the cost to maintain. Hubby is dying so no more cruises. Looking for a new friend who likes to travel
ambisyosa ka
😮I wasnt expecting the last sentence
I've come to realize that the key to amassing wealth lies in making sound investments. I purchased my first home at the age of 21 for $87,000 and sold it for $197,000. My second home, acquired for $170,000, was later sold for $320,000, and my third property, purchased at $300,000, fetched $589,000, with buyers covering all closing costs and expenses. Not reaching a million before retirement feels like an unfulfilled goal._
You just screwed people a few times. Nothing to brag about.
@@maciejflorczyk Why don't you just enlighten us how so?
By your own conscience. Only from a Christian prospective you are told from Christ not to charge more for something at a higher price based on profit to get rich. Your at a risk of judgment. Maybe some don't care however. American way might not be the right way.
I’m curious what the value of your first house is currently.
Your family already had money. (Which is the goal right)
Met Ross Perot he was in overalls at a hardware store (he was accompanied by a security guard) He was driving a Crown Victoria
That's awesome.
I voted for him on my first election!
he would be a great POTUS too!@@secretsquirrel6718
@@secretsquirrel6718me too
Proverbs 13:7 "One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth."
I drive a 13 year old Subaru, shop for clothing at Costco, live in a small modest home. The bank account is swelling. It’s nice to have that and live beneath my means.
Oh yeah ? I drive a 30 rear old pick up , shop estate auctions and 2 nd hand stores , eat at home .
When i first started work, i made $50k/ year, drove a 2 year old camry. Fast forward 15 years, now i have 15 million net worth and still have a lifestyle of $50k/yr and still drive the same camry. Money gives me options and it gives my family a financial wall that nothing gets through.
It's income statement versus balance sheet. Many that are conspicuous consumers have a strong income stream but a very weak balance sheet. Many that are financially independent are not always income strong but they are frugal and have built strong balance sheets.
Azul, We took your advice and hired an independent wealth manage firm. During our official meeting, the firm revealed to us our net worth is about $7.2M, and this is not taking into account the $820k I just inherited from my wonderful Dad, who passed last month unfortunately. I just turned 60 a few days ago and your videos are convincing me we can afford to retire comfortably. I’d plan to work to 62.5 but realized working longer isn’t worth it anymore although si really enjoy my job, manager and company. Between you and Bill Perkins, I’m almost ready to “pull the trigger”; you guys moved the argument strongly towards retirement. As a long time engineer and modest hobby investor, I’ll just drop the engineering career. Thanks Azul! You’d be a great guy to meet at a coffee shop some day and talk about life!
Couldn't agree more, as I sit here wearing a thrift store t-shirt, a pair of old but still in good shape blue jeans, and with a ~10 year old Subaru in the driveway. But what's in the investment accounts and the 2nd garage is a different story ;)
I still sometimes wear flip-flops I got in high school and I am a boomer. The company made them to well and went out of business.
$39k for a house in 1958 was a huge deal. My grandparents bought a house for $19k at the same time and that was a big deal too. My folks paid $14,600 for a 2000 sq.ft. 4 bedroom which was more than average at the time. $39k was a huge price.
I purchased my first house and worked like hell to pay it off in less than 7 years. Because of that, I was able to stick every raise and COLA extra into my 401k and investments for 24 years.
Then my ex-wife took everything in the divorce.
That was still a good deal for me.
I also figured out taxes two ways every year - with and without the kids. I took the difference and used it as a minimum deposit into the kid's college funds every year. If I didn't have kids, that money would have been taxed away anyway, so it didn't really cost me anything. We never needed any student loans until grad school, which we will pay off when they start to become due. In the meantime, free interest.
I also seem to fit your profile. My pickup is 23 years old, my car is 29 years old, and I dress like a yard care worker.
Golddiggers look at me and run. Heh heh heh...
There is many ways of being wealthy; a good family, friends, healthy, good educated, help others and free to pursue your hobbies whatever it is.
Well said
I say freedom is the ability to control how you spend your time
That’s true freedom
Retirement in Southeast Asia gave me lower costs so I now control my time
I’m in Thailand now
Well said
Great tips. However, i also believe in spending and enjoying your current life while you're young, energetic and good looking. You don't know how much time you have. If you only save, save and save for post retirement and something happens to you prior, all that money just goes to your estate? Live a balanced life and make sure to treat yourself as well !
Loved your video. I would just add one thing I would add: CHILDREN! I'm 84 Now. I have 5 children. They are spectacular! I have enough money, but every cent I invested into my children has been a great blessing. They all graduated from college and have or did make a lot of money, and have the most delightful grandchildren I could ever imagine. When the Lord says to invest your money in heaven I think he was right! I took them to Church every Sunday and they learned about the Lord. They taught their children the same thing. Now they love their lives, go everywhere, and do impressive things. I won't be around for the next generation, but it will progress at quantum speed!
Excellent job! Introducing them to God was the best thing you could have done for them. The rest is gravy.
Great advice! Me too in high school. Also, i thought wearing the right shoes and shirt would get you "in", but that didnt matter.
Live virtuously and choose wisely- the LOVE of money is the root of all evil.
Ive heard this and lived by this. I became comfortable/ complacent and put my trust in the wrong people twice. Yes twice and right now I'm starting from zero. The people that were in my circle including family would kiss my butt when I had money and now I'm a leper. The only one standing by me is my wife. I'm thankful for the clarity this situation has presented and even though we are barely eating, I can start over with a clean slate. Don't concern yourself with people's point of view of you. Don't let life or people knock you down. Simply move on and be happy. We all deserve it and yes so do you
been there, done that. now back on the top again, my greedy (well off but greedy to bone) family is maaaad with envy. and no, they are not getting a single penny. nope. been there, done that. now it is me that matters.
I got my dad a nice apartment and Mercedes, paid off the house me and my husband living in and traded in my husbands old car and got X5 for him. im still driving my crosstrek. I don’t waste my money in fashion at all. Getting retired by 40 yrs old which will be a couple of years. I agree what you said, I’m not rich but I only spend my money 0n traveling to see and world and try different food. I worked very hard in my 20s and early 30s pretty much like a machine then started my own in 2020. God has been helping me go thru the difficulties in life and leading me to who I am today. Best wishes to you all.
nope he used to have two junk cars and he couldnt drive in the snow weather after we moved to a new place, he had to drive my car to work back then. he's a car guy so I let him pick his own, and hopefully we can stick with the suv for 10 years. @Don1984-lc9rh
i have an acquaintance, nicest/quiestest guy...regular old joe type, very unassuming ....drives a regular car and has a nice house but nothing crazy...he is worth a half billion...you would never know it...he never ever tries to impress
You make a great argument!! Sometimes people do not get their priority right. Thanks for making this kind of videos!! It is a pity that this wisdom is not taught at schools!! It is great now such knowledge is available online, but still, one has to seek out such advice. Thank you, again!!
You know the saying: “New money screams, old money whispers.”; it’s better to whisper…
Awesome - I love that saying
If you’re smart, new money also whispers.
This is how we retired at 50 and have well over enough to travel on whim and live where we want. I love living below our means and driving old cars. We drive an old Subaru and Audi which we paid for with cash. We love our life. You’d never know how happy we are to be free of status
Love this one! I totally enjoy the fact that my neighbors probably think we are broke. I reality we have an IDGAF attitude about what others think. :-)
It will save you when the SHTF. The ones that outwardly need the affirmation to appear wealthy will get hit first by all the crazies.
Last week I had to get some emergency welding done on my 6x10 utility trailer. Simple weld job that took 45 minutes. Shop time is usually $120 - $150 an hour (minimum 1 hour charge) + materials / supplies. At the end of the weld job I asked "how much?". He looked at me, eyed me from top to bottom, stopped at my shoes and simply said.... You are a low income that can barely pay for today's lunch. For you, the 1st weld job is "on me....". If wondering, he was wearing cleaner clothes / cleaner shoes and driving a newer age vehicle then me.... For some folks, outer image / outage cleanness does influence.
When I'm in the market to buy a car I show up at the lot wearing rags
Me too!! 😂 how funny
They think I’m looking for a restroom
I just love it when Azul says “bye bye” at the end. So sweet.
What is the best way to profit from the current market, meanwhile I'm still undecided about investing $400k in my stock portfolio to get some dvidends and minimize risk
Remember that investing in the stock market carries risks, and it’s important to do your own research and consult with a financial advisor before making any investment decisions.
With the help of an investment advisor, I was able to diversify my $550K portfolio across multiple markets, and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks, ETFs, and bonds
Pls who is this coach that guides you? I’m in dire need of one
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
If you really have that amount you wouldn’t seek advice from strangers you loser 😂
Wife and I read the life-changing book “The Millionaire Next Door”…. We were fortunate to have digested and applied these simple living principles early in our now 41 year marriage. Results? We are what the title of the book describes. No regrets whatsoever.
ditto.
I've read about wealthy people living in super-rich parts of London under perennial threat of home invasion, mugging, as well as targets for predatory scammers. Seems like my idea of hell. I'm far from very wealthy (zero debt + index funds), but it's all stealth wealth and modest living all the way.
Happens but not as bad as they make out. Parts of London they live super luxury.
Very down to Earth wisdom. It's big brother watching out for your best interest. Wish I had a friend like him. Genuine with years of integrity, keep-up the great work with your sound advice.
I would prefer to not be homeless Nov 1 and haven’t had a car in almost 3 years. Everything you said is 100% correct!!!👍👍👍👍. Thank you!
I bike everywhere. People laugh... I laugh at them trying to impress. Only in America do people think it's OK to rive alone in car. In Asia that would be waste an need at least one other person to drive to work. Bike forever!live well!
No, I dont want to be wealthy (in terms of money) - I want to be healthy and down to earth and have enough money to live well while disrupting the health of the earth as little as possible. Also I want more people to have enough to live well in the boundries of our planet!!! It is more about TOGETHER well, than ME ME ME!
Good and accurate from my experience. Our net worth is just over $6 million. Indeed we drove Hondas - one went almost 300,000 miles before my son totaled in an accident. Also agree that we see money as a tool to make our lives better/easier, but mostly think of it as a tool to invest to make more money and create additional income streams as a safety net.
As for what I wear, agree I tend to look poor. It is often dirty or torn work clothes as I head to Lowes or Menards or an auto parts store for parts as I do most of my own home and auto repairs. I buy what I like, not to impress others as over the years I learned that most people don’t know or are better than me as they might believe, so why should I care what the think ?
And I agree a major reason to gather most of our money was to relieve stress as having money makes so many little hassles just go away. When young, it was fear of losing a job and not being able to maintain our lifestyle. As I got older, then it was to ensure we could retire. After retirement, it was that we could afford bucket list items then pay for nursing homes if needed. It wasn't greed, but concern and wanting to save enough to have a chance of overcoming disaters in life.
6 mill... niice
@davidrous I am always surprised that people do not feel risk around them and save to hedge. By saving, less happens to you and if it does it feels tiny. You flick it off like a mosquito. I never knew how you walked through the world differently. I was our CFO and now have a satisfaction of watching my husband move through the world differently. It is so strange to have instincts, follow them not even understanding why. Then you get there and it hits. Still I never saw modeled what I was trying to achieve.
@@kimberlyfink1032 It is the stress relief many fail to see as the benefit of money. As you said, some crisis hits and if you have money you just throw it at it and move along with your life as normal.
But if not enough funds, those things can ruin lives for decades to recover. Several years back we were able to help a family we vaguely knew. The husband lost his job and they had missed 2 house payments and were stressing on losing the house and everything with 3 kids in juniorhigh and high school. Good people. I'd heard a few friends mention how sad and difficult that was going to be if they lost the house but no one was helping.
Because we had saved this amount was really little to us so I gave them a check large enough to catch up on payments. He got a job within a month then within 3-4 months they paid everything back. Having money made this a non event for us, and not having it would have had disastrous consequences for them and their kids drrams of college. That, is what money can do when used as a tool to make life easier.
The set of millionaires that (still) do their own DIY and car mechanics is not all that large, but I'm in it too :-) Glad to hear it's not just me these days (DIY car-fixing is falling out of fashion since they got so much proprietary software in them).
I do wish I had a double-garage so I could do it indoors but I live somewhere where a double-garage+decent size garden costs £1.5 million so we had to pick one or the other (We picked that garden - any serious car-fixing can wait until summer.
And yes I dress badly much of the time and my car (van) is 25 years old. I am trying to pick a newer one as it is getting a bit tired.
Have you heard of 'Mr Money Mustcahe', who I feel does a good job of espousing/explaining this approach to life. It's certainly worked for us.
@@xxwookey Good for you ! I have heard of Mr. Money Mustache and read/watched him a little. Seems that for the most part he is saying/doing things I was 40 years ago. But it is nice to see someone sharing good financial tips to those not introduced to the subject before.
Indeed it is getting more challenging to work on cars. The basics like oil changes, brakes, and even motor rebuilds are the same so I still can do those. Electronic issues are more challenging and sometimes beat me, but UA-cam has helped diagnose and solve many of these so I always give it a try as it is a great resource.
I live in the US Midwest so space isn't a problem - we have 10 acres in the woods where I have a 2-car garage plus a barn with multiple cars. But I do most repairs in town at a friend's huge shop. I bought a car lift I installed there. He and I went together and bought-out a machine shop so we have mills, lathes, welders, etc. and about anything needed to work on cars. He builds race car engines so he even can balance the cranks/etc. if I want on my car restoration projects. A fun playhouse.
Cost of living was low here, so accumulating large sums was much easier. We could easily afford higher housing costs similar to yours, but we choose to stay put and spend some of those savings on tools, toys, travel, and more cars. Helping a friend build a log cabin now, then maybe next year I can get back to work on my '67 XKE roadster renovation. Always enjoyed working with my hands and staying busy so retirement for me meant more time to focus on fun things like these. To each their own - enjoy life and good luck in the new year !
There is no such thing as looking poor. It is more like looking comfortable which I love
You haven't seen my wardrobe.
Nope. My ex was going around looking poor. It was embarrassing.
I like my old shoes and tattered all weather jacket. No amount of money would split me from them.
@@LisaCulton😂
I’m a multi millionaire…. I have a nice town house in norther virginia.. but I dont feel rich.. I wear jeans, tennis shoes, and a button shirt everyday i bought from walmart or kohls…. and drive a hyundai elantra… its the n-line version which is an upgrade and I love it but cost only 28K…. so yeah I’m one of those people most call rich but I feel like a middle class regular person… and by the way.. i use coupons all the time… actually only go to where I have a coupon.. :)
Come to south Florida. You will feel dirt poor unless you have $10m to spend on a house.
@@networth00 My mom lives in south florida in a 3BR villa condo on a lake with a nice fountoun in the middle.. great view... that is about 300K.. her income with SS and a small pension is 2k a month…. she is 80 and is very comfortable… but yeah I get it… the extreme highs and lows are everywhere…. in northern virginia there r 10 milion homes and 500k homes and both are very nice to live in..
No accounting for intelligence I guess. Toyota is the only way to go.
@@michikoiesaka3365 I looked at toyota, honda, hyundia, and kia… the hyundia elantra n-line is so much better.. drove each one.. it was an obvious choice… love driving it and the seating is so comfortable and has a nice sound to the muffler tone… great car… I do not like the base elantra.. just to be clear.. the n-line has great upgrades...
@@leehaskins307 Anyone who grew up in the 80s will NEVER buy a hyandia or kia. Those were in the junk yard by 50k miles. I can never forget that. Toyota all
the way. I never understood all the "extras" they put on a POS and people will buy them. Oh well.
This video should help my wife because nothing I say to her can convince her to enjoy all that she has no matter how poor she thinks she is. Thanks.
Thank you for your time and sharing your experiences!
I have family members who are drowning in Hidden Cash. They told me they TRY to look poore , lay lowe, & avoid drawing any attention!
A well maintained Merc will last 20 to 30 years. Never bought new. But Toyota is definitely my next preference 🙂
Traditionally, yes. Idk anymore. Nothing is quality anymore.
Maintenance on german automobiles has always been a deal killer for me. Been a Honda owner my whole life.
An older Benz is a fine choice, keep it nicely and it will last. Mine is from 83 and it will see me out
Money is freedom to make choices, have hobbies and experience life fully. Extreme wealth shows greed, ego and insecurity, although at older ages there sometimes isn't anything else to do. Nice video as always.
I just put $3 million in my pocket on a deal. It didn't happen overnight. I have the lowest IQ in my family and a slow learner but I'm not slow. With hard work, 40 years after college, I finally "made it" about 3 years ago. I immediately got my mom an aid and driver. Thankfully she's 82 and in great health in top 1% of her age group, healthwise. I've survived a heart attack and an accident on my site that broke 1/2 dozen vertabrae and 3 cracks in my pelvis.
I never gave up and now swimming in cash. But I live in my 2 bed, 1 bath, $92,000 condo and love driving my 1997 Honda Accord. I shop at Aldi and walmart for all my food and clothing. I'm very happy with what I have and I laugh at all the broke people driving Mercedes. Silly people. Broke people.
Really I worked with school teacher assistants making 32-40k per year and they drive a new Mercedes or Range Rover truck every 3 years! I just laugh and love my paid off 2015 Honda accord. I don’t got nothing to prove!
Never, ever give up. Just keep moving forward no matter what comes your way.
@@TheEvie202 I may laugh when i see that but also makes me sad to see them destroy themselves. I almost destroyed myself drinking as a kid but I quite by about my 19th birthday.
@@rickwilliams108 I had some good examples growing up and watching people I know just work so hard. I live around Koreans and people don't realize how hard they work and how they sacrifice for their children.
Great story! Sounds like me - I’m a grinder. Definitely the tortoise not the hare!
My wife and I make 15x the average salary here in Vietnam, but we drive a 1990 Toyota.😊
I often tell people winning a lottery would ruin my life. I would give much away. With that said , i live off grid, retired, and need things here I have no money for. Life goes on and so will I. It's that simple.
Years ago my cousin was in an accident. She got a small chunk of money. I remember her saying the happiest day was when the money was gone. You really don't know who is true until you have money then don't again.
@offgridamy: Money does not change people. It only allows them to be what they always were
in the first place - like when they had only a modest amount or even not at all. If one was selfish
before, he/she will be selfish when receiving that large amount of money. If careful before, careful
now. If smart with money before, smart now. If foolish/caeless before, foolish/careless now. If
considerate and generous before, considerate and generous now.
@@SouLoveReal interesting. For some i agree for some I dont. Opportunity, free will, circumstances can all alter ones decision making. Heck look at politicians. If you are grounded in a moral code i get what you are saying. Sadly that is not todays reality. A saint will always be a saint ... till he isn't . A rotten cheat will always be a cheat till he isn't. Look at the life of the apostle paul or the avg addict in Kensington. Life is good. Keep it real my friend.
@@RetireandGo haha i traveled for a living. People would ask where am I going for vacation. My answer was , HOME. Still don't like hotels.