That's me. Years ago when my uncle died I thought "No one cares what he did years ago. No one cares what he said. No one is going to remember him by how he dressed or what he spent money on. He did what he wanted to do". After that, so do I.
Thanks, Erin! My husband and I concluded the same thing. It's not that rich people need to look poor. They need to enjoy their lives and look ordinary.
Like you stated, it’s all about balance. I drive a new Corvette. Why? Because I’m a car guy and love driving fun cars. Always have but couldn’t always afford one. Now that I can, I do. Still saving 15% of my income each month and have been for years. That said, I don’t dress fancy- mostly cargo shorts and T-shirts because I find those most comfortable. I do like a nice watch though. It’s really all about Balance. 😊
I don’t intentionally look poor, I choose to feel comfortable. PJs, hoodie, and flops are my standard attire. And Costco PJs are just as comfortable as Gucci.
Like your “in the middle” approach. Not looking poor but for protection, blend in with what you wear, drive etc to not draw unwanted attention from thieves and gold diggers… Live the Gray Man lifestyle 😊
I don't buy a better car because I don't want to become a target. You buy too nice of a car and people get jealous or see you as someone to burglarize.
My problem is that I love cars, and they attract attention. I drive them for the fun they bring me with their speed, fantastic handling and brakes, and sound. I tend to stay on the country roads, but at some point you have to fill it up or drive through a town in it. Its like a split personality - I look like one of the poorer guys in town, then drive through in one of the best ones there. Most of the time though, we definitely blend in and lay low.
It's ridiculous at this stage, a d it seems like new TH-camrs are here every week trying to jump on the trends. But, I'd take all of them over the purely AI-produced videos. I've found that the "don't recommend channel" option is extremely helpful to prevent those getting thrown at you.
We have lived our life modestly through 56 years of marriage. We started out lower middle class and now have financial security. We do what we want when we want and live where we want and couldn’t be happier.
I saw this immediately upon diving down the personal finance TH-cam rabbit hole. All the channels seem to have all the same videos. Not just the same titles and the same thumbnails, but the exact same freaking videos with the exact same talking points. It's not just like they're copying each other, it's worse than that. It's like they're all just playing from the exact same playbook and parroting the exact same "advice". I love that this channel isn't on the bandwagon. There's no drinking of the Kool aid here! Just practical, down-to-earth, and data driven advice. For me, it's important to balanced living in the present with preparing for the future. But if I have to pick a side to lean to, it's always going to be the present. Tomorrow isn't promised today. And while it might not be wise to actually live each day like it could be your last, I think it's also unwise to just assume that you're promised a future in which to do all the things you're putting off today. Too many people end up not getting to live that dream. We've got to make our dreams reality is here and now with what we've got.
I work for a municipality and just because it's an option I am maxing out my 457 and 401K both with catch up amounts, an HSA and a Roth IRA. I am also debt free including my house being paid off. I do this not only for the obvious investing advantage but because putting that money to work elsewhere is a great way to avoid lifestyle creep. I already have a house and vehicles I am happy with and I like keeping the mind set that a person only needs so much stuff to achieve happiness.
What does looking poor even mean? Many poor people (no savings, below average income) look at least middle class because they buy expensive things. And many wealthy people look more modest because they’re frugal.
I use public camouflage meaning that I dress to blend in. I want people to see me then forget. Nothing flashy. They don't know what I have in my wallet. You nailed it when you said that most people don't really care about you. Very true since they are spending most of their time worried about themselves.
I always appreciate your honest and straightforward approach to breaking down topics. You can feel good wearing jeans, driving a Ford, eating a simple dinner at home, but flying business or first class for an international trip. Be true to who you are and not worrying about what others think!
Same here. My car is almost 9 years old; I buy clothes at Costco; I hardly go out to eat; and I live in a cheap 1BR apartment. But my portfolio crossed $1M last month; nobody could tell by looking at me. Not a bad place to be.
I dont want to look poor or rich. I want to look like what my personality is. Just me. Nothing else. I am not trying to keep up with the Joneses: I am trying to keep up with me.
I think you completely missed the point. "Look poor" does not mean you need to be poor nor that you need to save more than you should. It simply means that, to others, you should not be looking rich. By 'others' they mean people that will take advantage. It does mean that you can't drive an expensive car, wear jewelry and obviously expensive clothes, but you can still have nice vacations, average nice cars etc.
Im wealthy but I like the "NO Show and ALL dough". I live under the radar by choice because nobody bothers me. Im still driving my 2012 Honda Civic and can park anywhere I like.
I retired a millionaire at 56 and I think that was made possible by a really good balance of saving and enjoying my money along the way. I did do some nice things but I always made saving a priority and above all, I hated wasting money. I think your video is spot on 100% accurate, keep up the great videos!
I'm 52 now and what your saying certainly applies to me. I've splurged here and there over the years, but saving is a bit of an obsession. I'm putting away plenty into my 401K and have to convince myself that it's okay to spend the excess. It sounds dumb, but I've played a few phone games that I eventually quit and when I quit I had an absurd amount of in-game currency despite never having spent any real money on the games. I don't really want to make that a parallel for my real life. My parents have loads of money, but they spend money as though they don't have any. I hope I can hit that balance you talked about.
I’ve had that same thought when playing games and then getting bored and quitting. I am very similar in that I have an obsession with saving but also hope I can start to have that balance at some point. My goal is $100k net worth, and I’m currently at $80k. I’ve told myself when I do get to $100k, I’ll ease off the gas pedal a little bit but also knowing myself I’ll talk myself into moving that line. But I know this can’t be the way I think forever. I guess being self aware about it is the 1st step from preventing it from happening
Great information. You are only in your 20s 30s and 40s once. Your kids are only young once too. On the flip side you don’t want to work to 80. Save and invest what you need and enjoy the rest. Have a plan.
Thanks for posting. One needs to watch the complete video to be able comprehend the full message. Consumer debt in Canada is very high. Many people live outside their means. Their paycheck to paycheck lifestyle is more caused by their buying above their means. Not saving to buy it later. I was one who saved hard. Made my own lunches for work. Didn't eat in restaurants a lot either. Financing a holiday!!! Not ever. Credit card balance never. I'm retired now. Well before the norm. I live a very comfortable lifestyle. I provided a roof over my 3 childrens head, food on the table and an education. That alone has paid for itself in their lifestyle and work habits. So to answer the question. I was a hard saver. So glad l did. Cheers
I never thought one book could make such a difference, but Lost Scrolls of Jewish Wealth changed everything for me. It’s not something you forget easily.
I just look poor in my stained shirt, ripped work pants and well worn safety shoes with the steel toes exposed, because those are the clothes I'm wearing most of the time when out working on projects or on one of sports cars. It is what keeps me happy and busy in retirement. A favorite thing is to drive up to a store in one of my sports cars where there is a crowd while wearing those work clothes. The look on their faces when I get out is priceless as I'm not what they expected. I spent decades wearing professsional clothes, white lab coats, etc. so it feels great to not have to look good in public and to be dressed such that people look past you. Except when driving one of the sports cars and maybe am driving one of my trucks, I look like any other blue collar worker. That doesn't attract the attention of thieves. Stealth wealth is a reason many of us dress down as well.
In the words of Popeye, "I yam what I yam." Well into my sixties, I don't need to impress anyone and I really don't care what others think - immediate family excluded. My four year old granddaughter told me the other day "I'm going to call you "The Giggler"". I said I like that, it means I am happy and I like being happy. As the oft quoted adage says: "I may not have everything I want, but I have everything I need. For this, I am grateful."
Most of the people talking about stealth wealth are on the same page as you. Most people talking about "look poor" are talking about not living on credit, not trying to keep up.
As new subscribers, we really enjoy your content, Erin. Easy-to-digest, relevant information! My wife and I started investing late at age 40, so we felt pressured to save as much as we could to allow us to retire at 63 and 64. We contributed 20-25% of our income during our working career. Now retired, we comfortably live in our jeans and hoodies looking like schlubs (without a care in the world about what people think of us) but having a very comfortable nest egg.
Saving was painful when I was young. It is soo much easier now. We (well I, wife didn’t always understand my plan) have always looked for value. I will spend more for some things so that I won’t have to buy it again down the line or as often. My cars generally last 15 years and 150k miles or more. I started saving for my kids education when they were born. Avoiding lifestyle creep is the key. I see my neighbors buying the nice new cars and taking expensive vacations, etc. I also see some of my other neighbors who live more frugally than we do, I know they are doing well and I don’t even have to see their bank statement.
I don't know that I have been "fake poor", but I have been pretty frugal most of my life. That is just the way I was brought up. Over the past 3 or 4 years as I get closer to retirement and started looking more closely at my "nest egg", I have come to realize I am doing pretty good in my life. Over the past couple of years I have made a conscious effort to let go a live a little bit more and use the $ I earn a little more freely. I am getting better at it, but it is still hard to do.
I think your story is pretty common, applies to us too. Too busy working and saving to look up much until recently, and like you, found we're doing better than expected. Now the hard part, undoing the automatic, compulsive saving habit. In other words, having a little fun. But we've flown first class and stayed in ritzy places, so we're capable of indulging occasionally, if not often. In case you're wondering, it's very nice, but honestly, I'm not sure it's worth the money...lol. I guess once in a while, since you have more than you need anyway. Life's a journey, and you want it to be interesting, right? Try something new, blow a little, it won't make any difference to your finances in the long run, but it'll let you experience something new. Then you can decide if it's for you...
@dstevens518 yep same story here. Since “discovering” my wealth. We have paid off 2 cars, taken a 14 day safari vacation to Tanzania, will be taking a cruise to Antarctica next February, and probably pay off the house by the end of next year.
@@dstevens518 I am sure it is common. as i said I am trying to spend a little more freely. In the past couple of years my wife and I have paid off our cars, went on a 14 day safari to Tanzania, booked a cruise for Antarctica next February, rented a house for the holidays for all of the family to come to, bought 2 puppies to replace older dogs that have died, and are looking to pay off the house in the next 2 years. So I am trying.
I come from poor means and don't mind not having the "rich lifestyle". I would say we have found our point on the spectrum where we spend what we want but limit the number of items we purchase that are wants, not needs. Buy quality items so you only replace infrequently. Travel where you really want to travel, not because you are bored. Modest housing by today's mega Masion standards. Have activities that you love that don't necessarily cost a lot. These are hints of what I consider to be living below your means. Be fulfilled. Be Happy. Do satisficing hobbies and activities that you love.
Not pretending you are something you are not and financing a lifestyle is the whole point of "dont look rich". Its not "look poor" its "dont be stupid". I have what puts me as "wealthy" and I did it on a avg wage over time, enough that I dont care what anyone thinks. At 60 I am retired debt free for about 10 years. My pants are pretty much the same work jeans I have worn for years. My F250 is an XL that is 4 years old. I cash flowed cancer 3 years ago. Bought a 69 corvette convertible and do ski trips to ski in ski out places. People who look what is considered "rich" by those that arent, for the most part are doing it for appearances. Once you get to the point where you are pretty OK, you can pick out those that really are from those that really arent or those that are in a house of cards.
Trying to look poor “on paper” can be very effective in lowering your tax burden. I have seen the term for that. It entails the strategy of using post tax money to lower “income”, as this decrease tax rates and makes one eligible for ACA credits(Obamacare). It avoids Social Security taxation and IRMAA penalties. Obviously this is part of the whole Roth discussion.
I don't know when the narrative got twisted. The spirit of it was to avoid the opposite trend which, when taken to the extreme, can lead people into debt and set them back financially. I suppose the twisting is inevitable once enough people talk about the same topic. As usual, I appreciate your grounded, goal-focused approach. It's critical to have clarity on why we're going to behave in any particular way.
So true that most people don't care about other people's finances and how absurd it is to spend to impress others. It just doesn't even occur to me in the first place to speculate about how much something someone else owns costs. If I hear outright what the item costs, my natural inclination is going to be like, "Well, it's none of my business." But I'm almost never IMPRESSED. If I form any judgment at all -- which I again, I don't tend to do when it comes to other people's spending -- it's far more likely to be in the order of, "DAMN, they spent THAT MUCH on THAT?! What were they thinking?!"
I have the spectrum in family and friends. My father is a millionaire and in his mid 80s. He feels guilty about buying a cheap new car even when his old car died. He won't buy quality hearing aids or get his 40 year old dentures replaced. He lives on cheap food and never spends on anything that is not a necessity. My sibling however has a large monthly income yet no savings or investments and spends like there is no tomorrow. Finding a good balance is important. I hope I am balancing spending and savings/investments well but I only know I am not near either extreme and debt free.
I agree with you Erin. I see these other videos and I just wind up thinking, what's the point of working hard for 30+ years and having a ton of money if I'm going to be driving around in a 73 Pinto and wearing Salvation Army clothes. I could have taken it way easier and still had the same things. Yeah, I know, stuff doesn't make you happy but neither does a fat bank account. Live within your means and enjoy your life, you only get one.
I think you're just looking at the title of these videos and drawing conclusions from them. "Why Looking Poor is Important" is just a catchy title to get people to click on the videos. Most people aren't actually saying that if you dress in rags, don't do anything fun, and eat spam every day for dinner that you'll be rich. If you actually watch the videos and listen to the content, most people are sharing pretty solid advice. When you start making more money, don't give into the pressure to "Keep up with the Joneses", don't give into the need to impress people around you, buying more "stuff" isn't going to make you happier, etc. I tend to follow this advice. I spent ~$45K per year my first year out of college when I was making $50K per year. 10 years later, I'm making 3x that much and spent even less last year (~$42K). I'm investing 60-65% of my take-home pay, but I'm still happy, I still drive a Mercedes AMG, I still travel, have nice watches, and live in a luxury apartment. I just don't waste money on things that don't give me joy.
One way to save money is, oddly, to spend more on things like clothes and cars. That is, buy better quality that will last longer. Fast fashion is a money-suck. Clothes don't need to be tossed every season. Things like that.
No, they're saying Look Poor on your pursuit to building your Wealth, as in to not expose it to people around you, as it can get chaotic with others knowing of your Financial Achievements.
There may be some correlation between looking poor and being rich for certain stratified samples based on levels of net worth, but definitely no causation.
YESSSSSS! i’ve been saying for years that if you manage your money, right, you can do with it what you want. The large majority of people look at how much they spend in dollars for a vehicle, a house, etc. They need to start looking at it in terms of percentage of income/net worth. if I told people I spent $3000 a month on three cars they’d freak out. If I told the same group of people, I spend 6% of my monthly income on three cars, they’d say that was pretty low. If I also tell them that my mortgage and those three cars add up to less than 10% of our income, they might think I live in a dump and drive three beater cars. This is why we need to get away from items in terms of dollars and focus more on percentage of income.
Hey, I am here for the enthusiasm! I love it! And since you left a comment about cars, I can add, I had to buy a new car this past weekend. My one of 17 years, quite literally rusted through. Oops. 😬 But, I do love the new one 😍😂
Oh, I definitely did! We got in at the dealership, and I’m like I’m gonna need you to explain this entire screen, I have no idea what’s going on here 😂😂
I just finished a 17-day cruise. The flip side of this are people who threw down a few thousand dollars to stay in "The Haven." For their money, they got some exclusive areas on the ship, had some roped off sections in the theater, and had a shared "butler." It's a laughable situation, and the overheard comments from the bourgeoisie were amusing. Meanwhile, having a greater net worth than most, I'm carrying my own dishes from my room back to the buffet.😂
Reminds me of Jack Bogle saying my he took economy seats on paned rather than 1st class. The plane goes to the same destination. You still got an amazing trip! (PS, that's exactly how I travel on Norwegian as well.)
@@ErinTalksMoney As someone who travels on long international flights we upgrade to business, but not 1st. That gives you a lie-flat seat and you get there refreshed and ready to go when you get there. No use skrimping too much on a big vacation if it means you are a zombie the first couple of days there and the first days when you get back home. Within the US we travel in regular class.
To me, for those who are doing well or even above average, it's less about trying to look poor and more about just trying to look "average". The more average you look, the more relatable you appear to be to most people. I agree that most people don't care what kind of car you drive, or what kind of house you have, but when your neighbors, friends, or even family become haters or make snide comments about you doing well, this tends to lead people to the mindset of just wanting to look average. Looking poor/broke is a whole other thing, but my feelings are people want to appear poor so their broke brother-in-law or other family members won't ask them for anything.
I've never tried to look poor as such. Jeans and t-shirts are my standard attire because that's what I like to wear. I wore them when I was in college, starting out at work, all through work. And now that I'm retired guess what? Jeans and t-shirts. I spend money on the things I care about and clothing isn't on that list. If you want to dress up more than that go for it. It's your money and your lifestyle. Avoiding debt and balancing living for today with planning for tomorrow is the important part.
I don't get this trend. I dress comfortable and if someone doesn't like what I am comfortable in to bad! I have more than enough money to meet my needs and leave a nice inheritance for my kids.
My looking, poor story.... I once went to a Porsche dealership in my old beat-up pickup truck, and no one came out of the showroom to talk to me as I was browsing the lot. I went home and got my Corvette and came back and explained to the sales people who rushed the lot that I had been there earlier in my truck so I went to the closest competing Porsche dealership and bought my 911 there and drove it to the original dealership and looked in their lot😂
Yep, my brother in law went to a dealership in normal, but somewhat shabby clothes and couldn't get help. He went across the street, bought a car in cash, then drove back over to show the 1st dealership what they lost.
Great video. I especially liked the thought that every year is important. My father died at 52 and always was looking forward to retirement which he never saw. My mother lived to a ripe old age. So I always split my annual raise down the middle: half went to increasing my investment rate and half went to enjoying life now in case I got my father's genes. I outlived them both and every year had lots of fun.
Great video. Going to extremes in any area of life is not healthy. It just leads to burnout and failure. It's important to find a balance between investing for the future and enjoying life today.
I dress nicer than the average man my age, but that's not difficult to do and it's just a result of my own style. It's not about looking rich or poor to me. As far as my savings rate, I'm saving north of 25% because I am behind where I would like to be, and I would like to be in a position where I can transition to a lower paying job I enjoy more when my son is grown. My whole industry has shifted to WFH since covid and I find it depressing to sit alone in my basement 50 hours a week. I guess that's an early semi-retirement?
I don't choose to look poor or rich. I choose to look like the people I want to spend my time around, which happen to be down to earth blue collar folk.
I laughed at your example of running 10 miles per day and only eating soup :) because I run a lot and know a lot about running, nutrition, and exercise science (I am a professor of Exercise Science). I like your comment that extremes are typically unhealthy, which is true. The problem I see is that people define extreme differently.
I’ve been doing extreme investing for 5 years now. I’m investing about 30% of my income in my Roth IRA and Roth 401k. I’m going to keep investing 30% of my income for the next 10 years, so that when I retire I can retire in comfort. But I’m not sacrificing much. I’m still going out, going on vacations, and enjoying life.
I was in a meeting a few days ago. There was a self test on many topics we had to share on scales from 1-10. I’ve been good with finances and picked 10. The class average was 6 with the lowest being a zero. I was shocked.
I don't belong to Costco anymore because I am too cheap to pay the membership fee and don't like crowds. Also, with only 2 in the house, I don't need 42 rolls of toilet paper at once.
I like looking poor, it keeps the scammers and gold diggers away. Plus I can park my 10 year old camry pretty much anywhere without having to worry about somebody stealing or scratching it.
I probably don't look poor. I wear nice-ish clothes sometimes, but most of my clothes come from wal-mart and Amazon (The really nice stuff came from target or Macy's). The car I drive looks nice, but not because I bought some luxury brand I couldn't afford to pay in cash. My car looks nice because I enjoy washing and waxing it myself in my free time. I don't really care about how I look, I care about long term fulfillment and discipline in my daily habits, and those habits just makes me look a certain way.
I do both fake/rich and fake/poor, I suppose. I dress simply, drive aging paid-off cars, enjoy playing piano and riding a bicycle - simple stuff. But, I'll spend as much as $25k or more per year on travel (ski trips, beach trips, Europe/Asia/Hawaii/etc.). BTW, we still save 20% of our gross.
Just look the way you want but be mindful of overspending. I am doing pretty good financially right now, but I still dress the same way I did when I was living in my car years ago. This is because I really don’t care about fashion but if you do like clothes, there’s absolutely nothing wrong with spending a little bit of money to make yourself look good.
I’m turning 70 in 2025; my wife is 53. We have worked on a balanced money profile where she is saving much of her salary and we spend from the bucket that I saved and invested. We splurge mostly on travel: roomier seats on flights and mid level rooms at a hotel. No trinkets bought when traveling; I still drive a 2006 Hilander that only has 45k miles … only debt is a house payment (2.5% loan) but are looking at paying off the mortgage by 2028 when she will pop up her head like a meerkat and determine if she is ready to retire from corporate life and be a full time entrepreneur. Truly God has blessed us with wisdom, patience and hope for the future 😊.
I kind of like looking poor, but that's the way I've always been. I don't cut my hair, and I don't shave. I tend to frighten women at the grocery store. I drive a 34-year-old pick up. I guess on paper I'm a millionaire due to the 10 properties I own here in California. The average family living in my various rental homes look much more wealthy than I do. But that's okay because they're funding my early retirement.
My wife drives new cars - 2016 Ford Edge (she likes them that way). I buy used cars, 2008 F-150. We haven't had a car payment in years, they are fine running, good-looking vehicles with no issues and this enables us to save nicely. That might fall into the "don't look rich" category, but certainly not poor.
Some of my choices are towards the frugal lifestyle clothes, entertainment. But I have the cheapest Lexus and will get a new one every 7-8 years. Travel is also in the middle, not 1st class but not basic economy. My standard for hotel is at least Hampton Inn level. But we are traveling as much as we can now since I have seen so many friends and family members miss out because of health issues and/or death.
There was another TH-camr who mentioned that he worked with many clients and none of them tried to look poor. All they did was spend less than they earn and invest the rest to earn more. To spend more they put a lot of work into making more. It makes no sense for a billionaire to buy a cheap, used car instead of the more expensive, luxury car that they want and can afford if it's only about money. Plus we want that money to go back into circulation.
Looking poor doesn't draw unwanted attention. There are people with parked Range Rovers, Escalades and Wagoneers on their driveways and they wonder why they got robbed.
My local driver car is a 2004 Honda CIVIC with 230k miles and rough looking. Appearing poor helps by not standing out and draws less or no attention from others in city. It helps me to be grounded. I am reaching the point being newly retired now asking how I ever had enough time to go to work.
A better explanation would be: "Avoid looking rich, if you eventually want to BE rich." If you live as though you have a low to moderate income, it frees up resources with which to build wealth. A surprising percentage of people who don't "look poor", actually are, when it comes to net worth.
Looking poor is my natural state...I prefer to think of it as comfortable. If someone breaks into my house they would probably leave something in pity. My cars are not high end or new, but my investable assets are large and I use them to purchase items of value...not perceived value...but real value. Solar panels and home battery that eliminates my utilities bill and fuels my car, business class flights so I arrive at my destination rested and happy.
If you bust your butt and sacrifice in your 20s, and make wise decision in your 30s, then you can live it up and coast until retirement. Buying luxury cars and going on lavish vacations in your 20s is crazy, when you can make an 80x multiple on that money.
My philosophy is to not look rich. Most acquaintances would say I do a good job of that because most days I'm in jean shorts and tee shirt because I'm probably getting dirty volunteering or on rare occasions, working on my own stuff. But the point is, if I appear to have money or seen dropping a pile of money in the collection plate, it raises people's expectations and lowers their feelings of responsibility.
@@hogroamer260 I was making fun of myself too. My jorts are long gone but I still have clothes from 30 plus years ago. My wife just recently made me buy a new suit. Last one I bought was in 1999. Just really don’t fit into them since last year, but I am working at getting back into them.
@av8rgrip I was just going with the humor, no offense taken. I've got many clothes that celebrate anniversaries older than mine. For better or worse, I'm the same weight as I was in college. Hope you get back in shape, don't want to cut retirement short!
My friends I most admire are the ones who live an honest lifestyle and don’t care in the least what others say or think about them.
That's me. Years ago when my uncle died I thought "No one cares what he did years ago. No one cares what he said. No one is going to remember him by how he dressed or what he spent money on. He did what he wanted to do". After that, so do I.
Thanks, Erin! My husband and I concluded the same thing. It's not that rich people need to look poor. They need to enjoy their lives and look ordinary.
Love that!
Just look normal and conservative, not flashy , beyond your mean...
Like you stated, it’s all about balance. I drive a new Corvette. Why? Because I’m a car guy and love driving fun cars. Always have but couldn’t always afford one. Now that I can, I do. Still saving 15% of my income each month and have been for years. That said, I don’t dress fancy- mostly cargo shorts and T-shirts because I find those most comfortable. I do like a nice watch though. It’s really all about Balance. 😊
I look poor, not because some TH-camr told me to. It just comes naturally. haha!!
Haha. This tickled me
I don’t intentionally look poor, I choose to feel comfortable. PJs, hoodie, and flops are my standard attire. And Costco PJs are just as comfortable as Gucci.
Half my wardrobe is from Costco.
Like your “in the middle” approach. Not looking poor but for protection, blend in with what you wear, drive etc to not draw unwanted attention from thieves and gold diggers… Live the Gray Man lifestyle 😊
61 and very similar.😊
I don't buy a better car because I don't want to become a target. You buy too nice of a car and people get jealous or see you as someone to burglarize.
My problem is that I love cars, and they attract attention. I drive them for the fun they bring me with their speed, fantastic handling and brakes, and sound. I tend to stay on the country roads, but at some point you have to fill it up or drive through a town in it. Its like a split personality - I look like one of the poorer guys in town, then drive through in one of the best ones there. Most of the time though, we definitely blend in and lay low.
Where have you been my whole life? You are an excellent educator who knows how to present material. I see you on a talk show in the future. Thanks
Creators just steal each other's content all day long. Erin is better than 98% of them.
That’s why she gets the big bucks
She's pretty great
It's ridiculous at this stage, a d it seems like new TH-camrs are here every week trying to jump on the trends. But, I'd take all of them over the purely AI-produced videos. I've found that the "don't recommend channel" option is extremely helpful to prevent those getting thrown at you.
I don’t try to look poor; I just have priorities other than trying to look rich. I’m also an introvert, so I’d rather not be noticed anyway.
We have lived our life modestly through 56 years of marriage. We started out lower middle class and now have financial security. We do what we want when we want and live where we want and couldn’t be happier.
I saw this immediately upon diving down the personal finance TH-cam rabbit hole. All the channels seem to have all the same videos. Not just the same titles and the same thumbnails, but the exact same freaking videos with the exact same talking points. It's not just like they're copying each other, it's worse than that. It's like they're all just playing from the exact same playbook and parroting the exact same "advice".
I love that this channel isn't on the bandwagon. There's no drinking of the Kool aid here! Just practical, down-to-earth, and data driven advice.
For me, it's important to balanced living in the present with preparing for the future. But if I have to pick a side to lean to, it's always going to be the present. Tomorrow isn't promised today. And while it might not be wise to actually live each day like it could be your last, I think it's also unwise to just assume that you're promised a future in which to do all the things you're putting off today. Too many people end up not getting to live that dream. We've got to make our dreams reality is here and now with what we've got.
These videos are like having a relaxing day at a mountain cabin with Erin’s wonderful soothing voice 😊
Awe, that’s so sweet!
I work for a municipality and just because it's an option I am maxing out my 457 and 401K both with catch up amounts, an HSA and a Roth IRA. I am also debt free including my house being paid off. I do this not only for the obvious investing advantage but because putting that money to work elsewhere is a great way to avoid lifestyle creep. I already have a house and vehicles I am happy with and I like keeping the mind set that a person only needs so much stuff to achieve happiness.
Look and do what makes you happy.
What does looking poor even mean? Many poor people (no savings, below average income) look at least middle class because they buy expensive things. And many wealthy people look more modest because they’re frugal.
Very true!
I use public camouflage meaning that I dress to blend in. I want people to see me then forget. Nothing flashy. They don't know what I have in my wallet. You nailed it when you said that most people don't really care about you. Very true since they are spending most of their time worried about themselves.
I always joke that I park my old truck next to a flashy, expensive car so they break into that one and not mine.
Thanks!
Thank you! :-)
I like having money more than i like spending it.
1:08 How come Lionel Messi be looking at empty fridge? I love the content of this video.😂❤
I always appreciate your honest and straightforward approach to breaking down topics. You can feel good wearing jeans, driving a Ford, eating a simple dinner at home, but flying business or first class for an international trip. Be true to who you are and not worrying about what others think!
It isn't that I'm trying to look poor. It's just that I'm lazy and don't care too much what I look like to others.
Same here. My car is almost 9 years old; I buy clothes at Costco; I hardly go out to eat; and I live in a cheap 1BR apartment. But my portfolio crossed $1M last month; nobody could tell by looking at me. Not a bad place to be.
I dont want to look poor or rich. I want to look like what my personality is. Just me. Nothing else.
I am not trying to keep up with the Joneses: I am trying to keep up with me.
I 100% agree with this, this is perfect!
I think you completely missed the point.
"Look poor" does not mean you need to be poor nor that you need to save more than you should. It simply means that, to others, you should not be looking rich. By 'others' they mean people that will take advantage.
It does mean that you can't drive an expensive car, wear jewelry and obviously expensive clothes, but you can still have nice vacations, average nice cars etc.
Im wealthy but I like the "NO Show and ALL dough". I live under the radar by choice because nobody bothers me. Im still driving my 2012 Honda Civic and can park anywhere I like.
That's funny. The opposite of "All hat, not cattle!"
I retired a millionaire at 56 and I think that was made possible by a really good balance of saving and enjoying my money along the way. I did do some nice things but I always made saving a priority and above all, I hated wasting money. I think your video is spot on 100% accurate, keep up the great videos!
I'm 52 now and what your saying certainly applies to me. I've splurged here and there over the years, but saving is a bit of an obsession. I'm putting away plenty into my 401K and have to convince myself that it's okay to spend the excess. It sounds dumb, but I've played a few phone games that I eventually quit and when I quit I had an absurd amount of in-game currency despite never having spent any real money on the games. I don't really want to make that a parallel for my real life. My parents have loads of money, but they spend money as though they don't have any. I hope I can hit that balance you talked about.
I’ve had that same thought when playing games and then getting bored and quitting. I am very similar in that I have an obsession with saving but also hope I can start to have that balance at some point. My goal is $100k net worth, and I’m currently at $80k. I’ve told myself when I do get to $100k, I’ll ease off the gas pedal a little bit but also knowing myself I’ll talk myself into moving that line. But I know this can’t be the way I think forever. I guess being self aware about it is the 1st step from preventing it from happening
Great information. You are only in your 20s 30s and 40s once. Your kids are only young once too. On the flip side you don’t want to work to 80. Save and invest what you need and enjoy the rest. Have a plan.
Great content and video! Great communication skills. Well balanced, clear, precise, concise and informative. As always keep up the great work!
Thanks for posting. One needs to watch the complete video to be able comprehend the full message. Consumer debt in Canada is very high. Many people live outside their means. Their paycheck to paycheck lifestyle is more caused by their buying above their means. Not saving to buy it later. I was one who saved hard. Made my own lunches for work. Didn't eat in restaurants a lot either.
Financing a holiday!!! Not ever. Credit card balance never. I'm retired now. Well before the norm. I live a very comfortable lifestyle. I provided a roof over my 3 childrens head, food on the table and an education. That alone has paid for itself in their lifestyle and work habits.
So to answer the question. I was a hard saver. So glad l did.
Cheers
I never thought one book could make such a difference, but Lost Scrolls of Jewish Wealth changed everything for me. It’s not something you forget easily.
I just look poor in my stained shirt, ripped work pants and well worn safety shoes with the steel toes exposed, because those are the clothes I'm wearing most of the time when out working on projects or on one of sports cars. It is what keeps me happy and busy in retirement. A favorite thing is to drive up to a store in one of my sports cars where there is a crowd while wearing those work clothes. The look on their faces when I get out is priceless as I'm not what they expected.
I spent decades wearing professsional clothes, white lab coats, etc. so it feels great to not have to look good in public and to be dressed such that people look past you. Except when driving one of the sports cars and maybe am driving one of my trucks, I look like any other blue collar worker. That doesn't attract the attention of thieves. Stealth wealth is a reason many of us dress down as well.
In the words of Popeye, "I yam what I yam." Well into my sixties, I don't need to impress anyone and I really don't care what others think - immediate family excluded. My four year old granddaughter told me the other day "I'm going to call you "The Giggler"". I said I like that, it means I am happy and I like being happy. As the oft quoted adage says: "I may not have everything I want, but I have everything I need. For this, I am grateful."
Most of the people talking about stealth wealth are on the same page as you. Most people talking about "look poor" are talking about not living on credit, not trying to keep up.
As new subscribers, we really enjoy your content, Erin. Easy-to-digest, relevant information! My wife and I started investing late at age 40, so we felt pressured to save as much as we could to allow us to retire at 63 and 64. We contributed 20-25% of our income during our working career. Now retired, we comfortably live in our jeans and hoodies looking like schlubs (without a care in the world about what people think of us) but having a very comfortable nest egg.
You've really captured the key learning here in the your line "money should allow you to lead your authentic life". Great content Erin. Thank you
I’ve only heard other TH-camrs talk about being poor on paper to get ACA subsidies.
Saving was painful when I was young. It is soo much easier now. We (well I, wife didn’t always understand my plan) have always looked for value. I will spend more for some things so that I won’t have to buy it again down the line or as often. My cars generally last 15 years and 150k miles or more. I started saving for my kids education when they were born. Avoiding lifestyle creep is the key. I see my neighbors buying the nice new cars and taking expensive vacations, etc. I also see some of my other neighbors who live more frugally than we do, I know they are doing well and I don’t even have to see their bank statement.
I don't know that I have been "fake poor", but I have been pretty frugal most of my life. That is just the way I was brought up. Over the past 3 or 4 years as I get closer to retirement and started looking more closely at my "nest egg", I have come to realize I am doing pretty good in my life. Over the past couple of years I have made a conscious effort to let go a live a little bit more and use the $ I earn a little more freely. I am getting better at it, but it is still hard to do.
I think your story is pretty common, applies to us too. Too busy working and saving to look up much until recently, and like you, found we're doing better than expected. Now the hard part, undoing the automatic, compulsive saving habit. In other words, having a little fun. But we've flown first class and stayed in ritzy places, so we're capable of indulging occasionally, if not often. In case you're wondering, it's very nice, but honestly, I'm not sure it's worth the money...lol. I guess once in a while, since you have more than you need anyway. Life's a journey, and you want it to be interesting, right? Try something new, blow a little, it won't make any difference to your finances in the long run, but it'll let you experience something new. Then you can decide if it's for you...
@dstevens518 yep same story here. Since “discovering” my wealth. We have paid off 2 cars, taken a 14 day safari vacation to Tanzania, will be taking a cruise to Antarctica next February, and probably pay off the house by the end of next year.
@@dstevens518 I am sure it is common. as i said I am trying to spend a little more freely. In the past couple of years my wife and I have paid off our cars, went on a 14 day safari to Tanzania, booked a cruise for Antarctica next February, rented a house for the holidays for all of the family to come to, bought 2 puppies to replace older dogs that have died, and are looking to pay off the house in the next 2 years. So I am trying.
I really don't like people thinking I have money. It leads to pressure to "share".
I come from poor means and don't mind not having the "rich lifestyle". I would say we have found our point on the spectrum where we spend what we want but limit the number of items we purchase that are wants, not needs. Buy quality items so you only replace infrequently. Travel where you really want to travel, not because you are bored. Modest housing by today's mega Masion standards. Have activities that you love that don't necessarily cost a lot. These are hints of what I consider to be living below your means.
Be fulfilled. Be Happy. Do satisficing hobbies and activities that you love.
Not pretending you are something you are not and financing a lifestyle is the whole point of "dont look rich". Its not "look poor" its "dont be stupid". I have what puts me as "wealthy" and I did it on a avg wage over time, enough that I dont care what anyone thinks. At 60 I am retired debt free for about 10 years. My pants are pretty much the same work jeans I have worn for years. My F250 is an XL that is 4 years old. I cash flowed cancer 3 years ago. Bought a 69 corvette convertible and do ski trips to ski in ski out places. People who look what is considered "rich" by those that arent, for the most part are doing it for appearances. Once you get to the point where you are pretty OK, you can pick out those that really are from those that really arent or those that are in a house of cards.
Trying to look poor “on paper” can be very effective in lowering your tax burden. I have seen the term for that.
It entails the strategy of using post tax money to lower “income”, as this decrease tax rates and makes one eligible for ACA credits(Obamacare). It avoids Social Security taxation and IRMAA penalties.
Obviously this is part of the whole Roth discussion.
Yeah I have noticed it is those individual creators that do this. A lot of the "community" ones (like team ones) don't say this.
I don't know when the narrative got twisted. The spirit of it was to avoid the opposite trend which, when taken to the extreme, can lead people into debt and set them back financially. I suppose the twisting is inevitable once enough people talk about the same topic. As usual, I appreciate your grounded, goal-focused approach. It's critical to have clarity on why we're going to behave in any particular way.
So true that most people don't care about other people's finances and how absurd it is to spend to impress others. It just doesn't even occur to me in the first place to speculate about how much something someone else owns costs. If I hear outright what the item costs, my natural inclination is going to be like, "Well, it's none of my business." But I'm almost never IMPRESSED. If I form any judgment at all -- which I again, I don't tend to do when it comes to other people's spending -- it's far more likely to be in the order of, "DAMN, they spent THAT MUCH on THAT?! What were they thinking?!"
I have the spectrum in family and friends. My father is a millionaire and in his mid 80s. He feels guilty about buying a cheap new car even when his old car died. He won't buy quality hearing aids or get his 40 year old dentures replaced. He lives on cheap food and never spends on anything that is not a necessity. My sibling however has a large monthly income yet no savings or investments and spends like there is no tomorrow. Finding a good balance is important. I hope I am balancing spending and savings/investments well but I only know I am not near either extreme and debt free.
I agree with you Erin. I see these other videos and I just wind up thinking, what's the point of working hard for 30+ years and having a ton of money if I'm going to be driving around in a 73 Pinto and wearing Salvation Army clothes. I could have taken it way easier and still had the same things. Yeah, I know, stuff doesn't make you happy but neither does a fat bank account. Live within your means and enjoy your life, you only get one.
I think you're just looking at the title of these videos and drawing conclusions from them. "Why Looking Poor is Important" is just a catchy title to get people to click on the videos. Most people aren't actually saying that if you dress in rags, don't do anything fun, and eat spam every day for dinner that you'll be rich.
If you actually watch the videos and listen to the content, most people are sharing pretty solid advice. When you start making more money, don't give into the pressure to "Keep up with the Joneses", don't give into the need to impress people around you, buying more "stuff" isn't going to make you happier, etc. I tend to follow this advice.
I spent ~$45K per year my first year out of college when I was making $50K per year. 10 years later, I'm making 3x that much and spent even less last year (~$42K). I'm investing 60-65% of my take-home pay, but I'm still happy, I still drive a Mercedes AMG, I still travel, have nice watches, and live in a luxury apartment. I just don't waste money on things that don't give me joy.
Braggart. No one cares.
One way to save money is, oddly, to spend more on things like clothes and cars. That is, buy better quality that will last longer. Fast fashion is a money-suck. Clothes don't need to be tossed every season. Things like that.
Great job!!
No, they're saying Look Poor on your pursuit to building your Wealth, as in to not expose it to people around you, as it can get chaotic with others knowing of your Financial Achievements.
There may be some correlation between looking poor and being rich for certain stratified samples based on levels of net worth, but definitely no causation.
Another great video, thanks Erin!
YESSSSSS! i’ve been saying for years that if you manage your money, right, you can do with it what you want. The large majority of people look at how much they spend in dollars for a vehicle, a house, etc. They need to start looking at it in terms of percentage of income/net worth. if I told people I spent $3000 a month on three cars they’d freak out. If I told the same group of people, I spend 6% of my monthly income on three cars, they’d say that was pretty low. If I also tell them that my mortgage and those three cars add up to less than 10% of our income, they might think I live in a dump and drive three beater cars. This is why we need to get away from items in terms of dollars and focus more on percentage of income.
YES!!!!! Right back at you! Love the percentages approach!
@@ErinTalksMoney 🤣🤣🤣. Your video is like the first of it's kind. I got overly excited 🤣
Hey, I am here for the enthusiasm! I love it! And since you left a comment about cars, I can add, I had to buy a new car this past weekend. My one of 17 years, quite literally rusted through. Oops. 😬
But, I do love the new one 😍😂
@ Very nice! If you're coming from a 17 year old car to a new model, you may need a training course. 🤣🤣
Oh, I definitely did! We got in at the dealership, and I’m like I’m gonna need you to explain this entire screen, I have no idea what’s going on here 😂😂
I just finished a 17-day cruise. The flip side of this are people who threw down a few thousand dollars to stay in "The Haven." For their money, they got some exclusive areas on the ship, had some roped off sections in the theater, and had a shared "butler." It's a laughable situation, and the overheard comments from the bourgeoisie were amusing. Meanwhile, having a greater net worth than most, I'm carrying my own dishes from my room back to the buffet.😂
Reminds me of Jack Bogle saying my he took economy seats on paned rather than 1st class. The plane goes to the same destination. You still got an amazing trip! (PS, that's exactly how I travel on Norwegian as well.)
@@ErinTalksMoney Exactly, I let anyone ahead of me in the lines. Telling them we're all leaving port together! Keep the great videos coming!
@@ErinTalksMoney As someone who travels on long international flights we upgrade to business, but not 1st. That gives you a lie-flat seat and you get there refreshed and ready to go when you get there. No use skrimping too much on a big vacation if it means you are a zombie the first couple of days there and the first days when you get back home. Within the US we travel in regular class.
To me, for those who are doing well or even above average, it's less about trying to look poor and more about just trying to look "average". The more average you look, the more relatable you appear to be to most people. I agree that most people don't care what kind of car you drive, or what kind of house you have, but when your neighbors, friends, or even family become haters or make snide comments about you doing well, this tends to lead people to the mindset of just wanting to look average. Looking poor/broke is a whole other thing, but my feelings are people want to appear poor so their broke brother-in-law or other family members won't ask them for anything.
Say NO. Family doesn't have any moral or other RIGHT to get a loan or a grant from another family member that is doing well.
You nailed it.
I've never tried to look poor as such. Jeans and t-shirts are my standard attire because that's what I like to wear. I wore them when I was in college, starting out at work, all through work. And now that I'm retired guess what? Jeans and t-shirts. I spend money on the things I care about and clothing isn't on that list. If you want to dress up more than that go for it. It's your money and your lifestyle. Avoiding debt and balancing living for today with planning for tomorrow is the important part.
Great video Erin, came across your videos. Your content is always spot on and can be related too. Keep up the good work.
Thanks so much!
We use the term "stealth wealth".
I don't get this trend. I dress comfortable and if someone doesn't like what I am comfortable in to bad!
I have more than enough money to meet my needs and leave a nice inheritance for my kids.
My looking, poor story.... I once went to a Porsche dealership in my old beat-up pickup truck, and no one came out of the showroom to talk to me as I was browsing the lot. I went home and got my Corvette and came back and explained to the sales people who rushed the lot that I had been there earlier in my truck so I went to the closest competing Porsche dealership and bought my 911 there and drove it to the original dealership and looked in their lot😂
haha!
Yep, my brother in law went to a dealership in normal, but somewhat shabby clothes and couldn't get help. He went across the street, bought a car in cash, then drove back over to show the 1st dealership what they lost.
Great video. I especially liked the thought that every year is important. My father died at 52 and always was looking forward to retirement which he never saw. My mother lived to a ripe old age. So I always split my annual raise down the middle: half went to increasing my investment rate and half went to enjoying life now in case I got my father's genes. I outlived them both and every year had lots of fun.
just be yourself. If you are rich, then look like it. If you are poor, then look like it. Don't pretend something that you are not. Simple
Great video. Going to extremes in any area of life is not healthy. It just leads to burnout and failure. It's important to find a balance between investing for the future and enjoying life today.
I dress nicer than the average man my age, but that's not difficult to do and it's just a result of my own style. It's not about looking rich or poor to me. As far as my savings rate, I'm saving north of 25% because I am behind where I would like to be, and I would like to be in a position where I can transition to a lower paying job I enjoy more when my son is grown. My whole industry has shifted to WFH since covid and I find it depressing to sit alone in my basement 50 hours a week. I guess that's an early semi-retirement?
I don't choose to look poor or rich. I choose to look like the people I want to spend my time around, which happen to be down to earth blue collar folk.
I laughed at your example of running 10 miles per day and only eating soup :) because I run a lot and know a lot about running, nutrition, and exercise science (I am a professor of Exercise Science). I like your comment that extremes are typically unhealthy, which is true. The problem I see is that people define extreme differently.
I’ve been doing extreme investing for 5 years now. I’m investing about 30% of my income in my Roth IRA and Roth 401k. I’m going to keep investing 30% of my income for the next 10 years, so that when I retire I can retire in comfort.
But I’m not sacrificing much. I’m still going out, going on vacations, and enjoying life.
I was in a meeting a few days ago. There was a self test on many topics we had to share on scales from 1-10. I’ve been good with finances and picked 10. The class average was 6 with the lowest being a zero. I was shocked.
I look poor (middle class) wear shorts all the time, wear clothes I bought at Costco! (Yes, my favorite cloths supplier!)
And,
Save, save, SAVE!!!
I didn’t choose the Costco life, it chose me.
I don't belong to Costco anymore because I am too cheap to pay the membership fee and don't like crowds. Also, with only 2 in the house, I don't need 42 rolls of toilet paper at once.
Costco has decent middle class clothes. Half of mine are Costco
I like looking poor, it keeps the scammers and gold diggers away. Plus I can park my 10 year old camry pretty much anywhere without having to worry about somebody stealing or scratching it.
I probably don't look poor. I wear nice-ish clothes sometimes, but most of my clothes come from wal-mart and Amazon (The really nice stuff came from target or Macy's). The car I drive looks nice, but not because I bought some luxury brand I couldn't afford to pay in cash. My car looks nice because I enjoy washing and waxing it myself in my free time. I don't really care about how I look, I care about long term fulfillment and discipline in my daily habits, and those habits just makes me look a certain way.
I do both fake/rich and fake/poor, I suppose. I dress simply, drive aging paid-off cars, enjoy playing piano and riding a bicycle - simple stuff.
But, I'll spend as much as $25k or more per year on travel (ski trips, beach trips, Europe/Asia/Hawaii/etc.). BTW, we still save 20% of our gross.
Just look the way you want but be mindful of overspending. I am doing pretty good financially right now, but I still dress the same way I did when I was living in my car years ago. This is because I really don’t care about fashion but if you do like clothes, there’s absolutely nothing wrong with spending a little bit of money to make yourself look good.
I’m turning 70 in 2025; my wife is 53. We have worked on a balanced money profile where she is saving much of her salary and we spend from the bucket that I saved and invested. We splurge mostly on travel: roomier seats on flights and mid level rooms at a hotel. No trinkets bought when traveling; I still drive a 2006 Hilander that only has 45k miles … only debt is a house payment (2.5% loan) but are looking at paying off the mortgage by 2028 when she will pop up her head like a meerkat and determine if she is ready to retire from corporate life and be a full time entrepreneur. Truly God has blessed us with wisdom, patience and hope for the future 😊.
I kind of like looking poor, but that's the way I've always been. I don't cut my hair, and I don't shave. I tend to frighten women at the grocery store. I drive a 34-year-old pick up. I guess on paper I'm a millionaire due to the 10 properties I own here in California. The average family living in my various rental homes look much more wealthy than I do. But that's okay because they're funding my early retirement.
Great video. I might look a little poor but I'm having a lot of fun along the way.
Being authentic resonates home.
My wife drives new cars - 2016 Ford Edge (she likes them that way). I buy used cars, 2008 F-150. We haven't had a car payment in years, they are fine running, good-looking vehicles with no issues and this enables us to save nicely. That might fall into the "don't look rich" category, but certainly not poor.
Erin you are truly great 😊
So are you!!! 😊
Some of my choices are towards the frugal lifestyle clothes, entertainment. But I have the cheapest Lexus and will get a new one every 7-8 years. Travel is also in the middle, not 1st class but not basic economy. My standard for hotel is at least Hampton Inn level. But we are traveling as much as we can now since I have seen so many friends and family members miss out because of health issues and/or death.
Lionel Messi looks genuinely stunned that his fridge is empty
There was another TH-camr who mentioned that he worked with many clients and none of them tried to look poor. All they did was spend less than they earn and invest the rest to earn more. To spend more they put a lot of work into making more.
It makes no sense for a billionaire to buy a cheap, used car instead of the more expensive, luxury car that they want and can afford if it's only about money. Plus we want that money to go back into circulation.
Looking poor doesn't draw unwanted attention. There are people with parked Range Rovers, Escalades and Wagoneers on their driveways and they wonder why they got robbed.
My local driver car is a 2004 Honda CIVIC with 230k miles and rough looking. Appearing poor helps by not standing out and draws less or no attention from others in city. It helps me to be grounded. I am reaching the point being newly retired now asking how I ever had enough time to go to work.
“Others don’t really care what is going on in your life most of the time.”
No truer words said and yet politics and religion seem to totally disagree.
You also speak of people earning wages and saving up to try to become rich. What do these people have to do with rich people?
We ❤ this Erin!😊
I look so poor, the homeless people offer me money.
haha!
Lmao...same here 😂
Erin, you do not look 40.
Pretty sure she's 37 lol
37 :-)
34 at best
Love the bloopers at the end!!
A better explanation would be: "Avoid looking rich, if you eventually want to BE rich." If you live as though you have a low to moderate income, it frees up resources with which to build wealth. A surprising percentage of people who don't "look poor", actually are, when it comes to net worth.
Looking poor is my natural state...I prefer to think of it as comfortable. If someone breaks into my house they would probably leave something in pity. My cars are not high end or new, but my investable assets are large and I use them to purchase items of value...not perceived value...but real value. Solar panels and home battery that eliminates my utilities bill and fuels my car, business class flights so I arrive at my destination rested and happy.
If you bust your butt and sacrifice in your 20s, and make wise decision in your 30s, then you can live it up and coast until retirement.
Buying luxury cars and going on lavish vacations in your 20s is crazy, when you can make an 80x multiple on that money.
I spent 8$ this month so I took the extreme approach. "Feelin' fine."
I have been trying to follow along but I cannot figure out for the life of me what you are signing when you speak.
Great video Erin love ur content
Thanks so much!! 🙏
Also I just want to say ur pretty
Since it’s Winter, crank up your fireplace and enjoy a fireside chat. After all we need to burn a little cash to be warm and comfortable!
Thanks
Thanks for watching!
My philosophy is to not look rich. Most acquaintances would say I do a good job of that because most days I'm in jean shorts and tee shirt because I'm probably getting dirty volunteering or on rare occasions, working on my own stuff. But the point is, if I appear to have money or seen dropping a pile of money in the collection plate, it raises people's expectations and lowers their feelings of responsibility.
The 90’s called and they want their Jorts back. I have this picture of Joe Dirt or Florida Man.
@av8rgrip What's crappinin'? You can't have"no" in your heart!
@@hogroamer260 I was making fun of myself too. My jorts are long gone but I still have clothes from 30 plus years ago. My wife just recently made me buy a new suit. Last one I bought was in 1999. Just really don’t fit into them since last year, but I am working at getting back into them.
@av8rgrip I was just going with the humor, no offense taken. I've got many clothes that celebrate anniversaries older than mine. For better or worse, I'm the same weight as I was in college. Hope you get back in shape, don't want to cut retirement short!