I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent. I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably. I have no debts ... Stay Motivated!!
It's called "bag lady syndrome". I am that way. I'm a retired teacher but lived a frugal lifestyle. My principal used to say that she couldn't figure out if I were rich or poor. I always wore expensive, (thrift store) clothes, pawnshop jewelry, and 11 rental homes. I did alot of the work on these homes at night and on weekends. I was able to help lots of people. I enjoy the fact that people would be shocked...I am blessed!
I know the feeling. I buried my wife 2 years ago at 56...after about 12 years of dementia. I always prioritized our family and making memories with her. I wouldn't trade those memories for any amount of money. My prayers to you and her. Do what you can to make the memories you can.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too 🙏🙏🙏
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an ex pert can lead to a great loss too
No matter how much money you have if you were once poor you'll never really forget that feeling! And it's easy to loose all your money if you're not careful
"After much observation of super-wealthy families, here's my recommendation: Leave the children enough so that they can do anything, but not enough that they can do nothing,". This is what Mr Buffett said about leaving money to your kids.
wow that is very different from my experience here is my view 1) they are not happier; money generally doesn't fix happy. It does change the car being broke or the house needed a repair, but they have the same spouse problems, children problems, and often struggle to get away from leaches 2) They do one thing well and typically only one thing. They don't care how the plumping works or the car but there is one thing they desire to do best. 3) They compete ruthlessly in that one thing 4) They look at value as that is critical to them in all things. They know value made them and they live value.
I have just recently found your page and I love it. I'm 67, retired, and by NO means wealthy...not even close; but I am appreciating your financial wisdom. Thank you so much. Blessings to you and your family.
You're right about appreciating what we have. As much as we may envy a neigbour for what they have, there are many more who would love to have what we have.
I once was talking to a very rich financier. He said the “I have a lot of problems, money just isn’t one” is true, but with that came more problems, especially in scope. It’s amazing to me how many kids of rich parents end up on heavy drugs.
I kept waiting for the "shocking" part. What I heard was to be different, because being "normal" in our current society means to be wasteful and not prepare for tomorrow. Building wealth is 1 part hard work and 1 part humility, with maybe a little fortune mixed in. Lots of people in my age demographic have worked hard, but lack humility, so they're nearing retirement and they're basically broke. It's troubling to see.
I'm not quite at the point where I have to decide on when to retire, but you nailed it. I'm already doing the, "Well, if I do one more year..." thing in my spreadsheet calculations. Oof! These spreadsheets get updated every time I make more so the slope is slippery! I need to work on this - thanks for pointing it out.
Enjoy hearing your wisdom. Talk about leaving behind wealth to those left....think of those on the internet who will benefit from your wisdom for years to come!
Just found your channel and I am enjoying your conversations. I will retire in two years at age 62 with an increased income. I have ruled out "one more year" after that because the opportunity cost is too great.
“Legacy” is a term I hear some wealthy people use to justify why they continue to accumulate more wealth than they or their children could ever spend. There is also the expectation that the children will add to the “legacy tree” for their children, and so on. The problem with that thinking is the kids didn’t ask for that responsibility. Just something to consider for those accumulating wealth for wealth’s sake.
They have a problem with their children becoming bums, since the bum lives well. So an internal responsibility to add value to the family's trade serves greater purpose than the money
I see some very negative aspects of wealth. 1) I saw a family win the lotto and he died of brain cancer a few years later and two of three kids spent it all and developed addictions. And now there are these ridiculously huge, now dated homes for sale that nobody in our modest community can afford. 2) I’ve seen how Mom needed to go to a nursing home but she didn’t want to. The kids were afraid of being removed from the will for forcing it and she lived in filth and when she was 99, finally had to go to a doctor (for the first time in 65 years…since she’d had her last baby). Then they were concerned the home would spend her broke. It was elder abuse, IMO. She died at 100. 3) I dated a guy with wealthy parents and the disrespect and worthy attitude! Nope. Had to end it and learned to be so happy my parents weren’t rich and I vowed to marry a man who wasn’t rich. And my dream came true! That’s why I’m here listening to Azul!!! ❤
We live a wonderfully frugal lifestyle that we'll never change no matter what our wealth grows to. The key is finding your happiness, and it doesn't lie in spending and accumulating far too many things that require never ending attention/maintenance.
I am 5 months from retiring. I have done what I need to to be ok financially. I know that god had already taken care of us. I am now fighting the “one more year” problem. It harder to retire that I thought. Hopefully I do retire on time.
I kept up on that “one more year”. Then I pulled the plug and went for it. Retired from a 35 year career. Best thing ever! Get up and ride my bike 20 miles every day, go swim laps when I can, go to the beach after that. Absolutely the best thing ever, and I get to enjoy it while my body lets me.
Thanks again for your time you put into your videos. I always come away with something from them. We were renting an apt. several years ago and the guy we rented from made all of his money from commercial properties. He had told me a few things in the three years we rented that really stuck with me. Because of him we bought our house. He said don't waste time waiting till we thought we could afford a house because you can just stay within your means. He then said everything else will come to you. I really didn't know what he meant then but looking back he was right because being a home owner makes banks look at you different because they know you are stable and are more willing to work with you. It was tough at first but as time went on it got much easier. the thing that really gets me is now that we are older there are so much I wish I had known then that I know now. The information that is out here now was not available like it is now. we had to learn the hard way as the internet was not like it is now.
If your kids are level-headed, money will not destroy them. I plan on leaving enough so they can retire very early and very well off. But every time I help them out they say that's cheating. They still want to make it on their own.
Agreed. Somehow my sons have developed a strong work ethic despite knowing that we can give them whatever they need. We’ve been able to help with their education but they are paying that back because they want to.
Thank you for what you’re putting out there, Azul. I am, hopefully, 10 years away from retiring and I struggle mentally so much with it, trying to own when enough is enough. I know I personally don’t need that much, but I worry about my kids… 15 and 13 right now. I see it as part of my job to make sure I leave them enough money to never worry about starving or being homeless. Ugh…
Incorrect. Your job is to raise hardworking responsible adults who have initiative and fortitude. Teach a man to fish. It is not your job to put a roof over the heads of adults from your grave.
My dad always said... I can't put a roof over your head and feed you... but I can't pay your bills, put your roof over your head or food on your table.
Good on you. I’m the same. Too many people don’t give a crap about their kids futures. If you are in a position to help then help. We aren’t reptiles to lay eggs and slither away
This is all true. I know people who have more than they can handle and they spend their life and money fixing and caring for stuff. Even those who always pay people to get things done spend a LOT of time dealing with these contracts, payments, and various problems coming from poor service. I also have too much stuff but nothing that I could not just give away or dump if it’s starting to annoy me too much. Basically the most expensive thing I own is a $6k car, and I rent anything that costs more. The savings are invested and it’s all good. I could retire at age 55 but I’d rather work every other year or so and keep my mind sharp.
The Italians have a famous saying, buy only one home and all the land you can afford. I have a vacation home. Thank God it was gifted because it nickels and dimes me for sure in repairs and upkeep.
Frugality is a personal trait that likely facilitated their financial super success. It's inherent to their personality, its their nature ... so why should they be expected to suddenly change after achieving financial super success ... it may even be "unhealthy" for them to do so since it destabilizes their sense of comfort, well-being, and stability. Perhaps they were driven to frugality by experiencing a trauma like extreme poverty or insecurity, and frugality is their way of escape and coping. For them, frugality is healthy.
We own 4 homes, free and clear, and live between two of them while renting the others out. Works out well and pays all our living expenses. Meanwhile drive a 20+ year old car. My girlfriend says I need a new car (the one living in one house with a mortgage. 😆)
I don’t think I am rich or wealthy. I am 75 with a household income (2022) of over $700,000 with a true net worth in 8 figures. I still work for a large health insurance company as a medical director (headquartered in the San Francisco Bay Area). I live and look like a poor person (my clothes are clean but old and I even darn my own socks). I saved money sending my kid to college because the US Army paid for my kid to go to private colleges (BS, MBA).
Azul. Can you do a video explaining the difference between being cheap vs being frugal? If you are booking a 7 night cruise, do you always book the inside cabins?
The story of the guy at the beginning with the jet makes no sense. If he is “one of the wealthiest people in the Bay Area” why wouldn’t he just get the jet that he really wanted? Yet he still had the pic of his plane on display. I think it is just false humility.
“If you have a problem that can be fixed with money, you don’t have a problem”, John W. Simpson. The best thing you can do with money (assuming you have paid bills, etc.) is to: Give it away. The joy YOU receive is beyond measure.
Why not have nice stuff, people should enjoy their money and not just squirrel it away for a rainy day that never arrives. I do think boats and planes and probably a second home are a waste of money though and expensive to maintain
Sound perspectives Azul. I am about to retire (late 50s) but I am not in US and would like to identify a solid fee only financial advisor local to me (Hong Kong). There are so many charlatans out there difficult to identify the good ones….would love to hear your thoughts
Being rich they stuck in the mindset, he who hoard suffered want. No matter how much they possess it is always another one dollar more. It this calculative if it must get it worth.
Just get a CALPERS or CALSTRS job-work over 30 years and make over $80k USD annually plus COLA for life? Forget your family-never ever rely on being a beneficiary! You can add your own beneficiaries and contribute to charity!
Buffet is not a well person but a hoarder of money , plain and simple and can’t part with any of that. I also know wealthy people rather give money to charity cause they hate to see it goes to an individual.
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
But it took billionaire Warren Buffett several decades to start donating his massive fortune.☹️it's easy to be philanthropic when you're one of the richest people🤷
Some wealthy people like ex president Trump do not do anything that doesn’t benefit them! There are the philanthropic wealthy people such as Warren Buffet and Bill Gates and then the likes of Trump who doesn’t donate anything!
The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "KATRINA VANRENSUM ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.
Life is a combination of timing (i.e.when you were born...baby boomers have it easy, and I say that as a last year baby boomer), opportunity, and preparedness (people will call you lucky when you are simply prepared for certain opportunities). Thank you for leaving out the god talk, which many of us find to be a deflection, and not a position of strength. If there was a god (there isn't), I would prefer it take care of the starving children over helping you and I get wealthier.
I’m Gen X, and I definitely don’t have the quality of life or as nice a home my parents did, on one income, when I was growing up. My parents were mid- and late Silent Generation. Lots of the kids from wealthy families I grew up with turned out to be druggies and losers. They were spoiled, plus they couldn’t measure up to their fathers. Instead of accepting that we weren’t going achieve the same success we grew up with even if we did everything right, they just didn’t even try. And it’s only become worse, with entitlement and lack of gumption now the norm.
This baby Boomer worked his ass off. Many extra shifts just so the ex could live well. Lol. Yet, I lived. I struggled. I had a plan. Off to the tropics to live till I die.😅😅😅
@@thomaselliott9485 A baby boomer told me when he started at a large company they said to him "work here 20 years and you will be a millionaire, but you will never be a supervisor, 'cause no one leaves. : 15 years later he was a third year supervisor and had 5% of the million dollars. Like many other companies that company decided cutting labor costs was job one, so end of year profit sharing/bonus was virtually eliminated.
This baby boomer also worked his butt off. And interesting how you thanked Azul for "leaving out the God talk" and then expressed your own religious opinions. I could have done without that as well.
Joy Elizabeth Lawrence is the key to robust profits. I'm currently trading with her also. Started off with a low amount and now my portfolio is unbelievable.
I cancelled my subscription to FORBES magazine because: 1. They just kept listing “The Top Wealthiest” lists. I didn’t care. And, 2. Their anti-Trump bias.
Unfortunately, I can vouch for the risk of "becoming the possession of your possessions". This is not a boast, I promise, it is a very real problem. I have been reasonably successful in mining which allowed me to not only gather possessions over time, but also to retire (relatively) early at the age of 54. I own 6 homes, 8 luxury and sports cars, 4 boats and 13 high end motorcycles.... When I was still working and travelling the world for work, I felt proud of these "achievements". However, now that I have retired, and have ample time to enjoy these homes and toys, I feel trapped by them, and again this is real, it is NOT a boat. Worst of all is that I cannot get myself to sell them. I might have to see a psychiatrist, but I feel like I am somehow "surrendering" if I even think about selling anything.... I am quite mad....
![ปฏิเสธไม่ไหว (Crush on you) - LIPTA feat. No One Else [Official MV]](http://i.ytimg.com/vi/NBw1jF342vw/mqdefault.jpg)
I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent. I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably. I have no debts ... Stay Motivated!!
That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success..
Heard many good recommendations about Rochelle Dungca-Schreiber by some YT channels, Seminars and other platforms.
Thanks so much I was able to find her page and I already leave her a message..
It's called "bag lady syndrome". I am that way. I'm a retired teacher but lived a frugal lifestyle. My principal used to say that she couldn't figure out if I were rich or poor. I always wore expensive, (thrift store) clothes, pawnshop jewelry, and 11 rental homes. I did alot of the work on these homes at night and on weekends. I was able to help lots of people. I enjoy the fact that people would be shocked...I am blessed!
🌎🌎🌏🏦 they drive OLD toyotas, shop at goodwill, they eat at home, they re-invest.....#1 THEY STAY HEALTHY. THATS MY SECRET
I have money. What I don’t have a lot of time left with my wife. She has cancer. I retired to spend time with her.
For better or worst in action. God be with you and your family.
I know the feeling. I buried my wife 2 years ago at 56...after about 12 years of dementia. I always prioritized our family and making memories with her. I wouldn't trade those memories for any amount of money. My prayers to you and her. Do what you can to make the memories you can.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too 🙏🙏🙏
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an ex pert can lead to a great loss too
exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn
Hello nice comments here, please what exactly kind of investment are you talking about here, I'm really interested too
Azul,
I appreciate what you said about God. It’s refreshing to have someone who is a financial professional and a believer.
Comparison is the theft of joy.
amplified by social media
No matter how much money you have if you were once poor you'll never really forget that feeling! And it's easy to loose all your money if you're not careful
"After much observation of super-wealthy families, here's my recommendation: Leave the children enough so that they can do anything, but not enough that they can do nothing,". This is what Mr Buffett said about leaving money to your kids.
Sure, he can handle the money but nobody else can.
wow that is very different from my experience here is my view
1) they are not happier; money generally doesn't fix happy. It does change the car being broke or the house needed a repair, but they have the same spouse problems, children problems, and often struggle to get away from leaches
2) They do one thing well and typically only one thing. They don't care how the plumping works or the car but there is one thing they desire to do best.
3) They compete ruthlessly in that one thing
4) They look at value as that is critical to them in all things. They know value made them and they live value.
I have just recently found your page and I love it. I'm 67, retired, and by NO means wealthy...not even close; but I am appreciating your financial wisdom. Thank you so much. Blessings to you and your family.
You're right about appreciating what we have. As much as we may envy a neigbour for what they have, there are many more who would love to have what we have.
I once was talking to a very rich financier. He said the “I have a lot of problems, money just isn’t one” is true, but with that came more problems, especially in scope. It’s amazing to me how many kids of rich parents end up on heavy drugs.
Thank you Azul. Your advice is priceless and timeless. Your information and experience should be taught at schools, universities and colleges.
That's massive. Can you please connect me with your personal broker, I would love to work with her
That's massive. Can you please connect me with your personal broker, I would love to work with her
Really appreciate your content. My wife and I are in our 50s and your topics are excellent discussion points for us. Thank you for doing this!
I kept waiting for the "shocking" part. What I heard was to be different, because being "normal" in our current society means to be wasteful and not prepare for tomorrow. Building wealth is 1 part hard work and 1 part humility, with maybe a little fortune mixed in. Lots of people in my age demographic have worked hard, but lack humility, so they're nearing retirement and they're basically broke. It's troubling to see.
I'm not quite at the point where I have to decide on when to retire, but you nailed it. I'm already doing the, "Well, if I do one more year..." thing in my spreadsheet calculations. Oof! These spreadsheets get updated every time I make more so the slope is slippery! I need to work on this - thanks for pointing it out.
Not interested in the Jones! Thankful for everything I have. I enjoy walking with Azul!
Enjoy hearing your wisdom. Talk about leaving behind wealth to those left....think of those on the internet who will benefit from your wisdom for years to come!
I've worked with wealthy people for many years. Everything said here is true. ;)
Just found your channel and I am enjoying your conversations. I will retire in two years at age 62 with an increased income. I have ruled out "one more year" after that because the opportunity cost is too great.
Cemetery is full of "people" who worked an extra year. If you could wake them up not one would lament lost opportunity cost.
“Legacy” is a term I hear some wealthy people use to justify why they continue to accumulate more wealth than they or their children could ever spend. There is also the expectation that the children will add to the “legacy tree” for their children, and so on. The problem with that thinking is the kids didn’t ask for that responsibility. Just something to consider for those accumulating wealth for wealth’s sake.
They have a problem with their children becoming bums, since the bum lives well. So an internal responsibility to add value to the family's trade serves greater purpose than the money
Interesting video. Comparison really is the thief of joy.
I see some very negative aspects of wealth. 1) I saw a family win the lotto and he died of brain cancer a few years later and two of three kids spent it all and developed addictions. And now there are these ridiculously huge, now dated homes for sale that nobody in our modest community can afford. 2) I’ve seen how Mom needed to go to a nursing home but she didn’t want to. The kids were afraid of being removed from the will for forcing it and she lived in filth and when she was 99, finally had to go to a doctor (for the first time in 65 years…since she’d had her last baby). Then they were concerned the home would spend her broke. It was elder abuse, IMO. She died at 100. 3) I dated a guy with wealthy parents and the disrespect and worthy attitude! Nope. Had to end it and learned to be so happy my parents weren’t rich and I vowed to marry a man who wasn’t rich. And my dream came true! That’s why I’m here listening to Azul!!! ❤
Another super video Azul. Such good stuff. Thanks for putting in the time.
You would be a great neighbor. Thanks for sharing
Warren Buffet is leaving his kids 2 BILLION each. Not a million. I could manage on 2 billion I suppose.
We live a wonderfully frugal lifestyle that we'll never change no matter what our wealth grows to. The key is finding your happiness, and it doesn't lie in spending and accumulating far too many things that require never ending attention/maintenance.
God is great all the time♥️♥️♥️
I am 5 months from retiring. I have done what I need to to be ok financially. I know that god had already taken care of us. I am now fighting the “one more year” problem. It harder to retire that I thought. Hopefully I do retire on time.
I’m in the same boat. Let’s fight that “one more year” urge!
I kept up on that “one more year”. Then I pulled the plug and went for it. Retired from a 35 year career. Best thing ever! Get up and ride my bike 20 miles every day, go swim laps when I can, go to the beach after that. Absolutely the best thing ever, and I get to enjoy it while my body lets me.
Yes, we are blessed! Thank you for your videos. I am learning a lot.
Thanks again for your time you put into your videos. I always come away with something from them. We were renting an apt. several years ago and the guy we rented from made all of his money from commercial properties. He had told me a few things in the three years we rented that really stuck with me. Because of him we bought our house. He said don't waste time waiting till we thought we could afford a house because you can just stay within your means. He then said everything else will come to you. I really didn't know what he meant then but looking back he was right because being a home owner makes banks look at you different because they know you are stable and are more willing to work with you. It was tough at first but as time went on it got much easier. the thing that really gets me is now that we are older there are so much I wish I had known then that I know now. The information that is out here now was not available like it is now. we had to learn the hard way as the internet was not like it is now.
Great video Azul, thank you for sharing 😊
If your kids are level-headed, money will not destroy them. I plan on leaving enough so they can retire very early and very well off. But every time I help them out they say that's cheating. They still want to make it on their own.
Agreed. Somehow my sons have developed a strong work ethic despite knowing that we can give them whatever they need. We’ve been able to help with their education but they are paying that back because they want to.
Thank you for what you’re putting out there, Azul. I am, hopefully, 10 years away from retiring and I struggle mentally so much with it, trying to own when enough is enough. I know I personally don’t need that much, but I worry about my kids… 15 and 13 right now. I see it as part of my job to make sure I leave them enough money to never worry about starving or being homeless. Ugh…
Incorrect. Your job is to raise hardworking responsible adults who have initiative and fortitude. Teach a man to fish. It is not your job to put a roof over the heads of adults from your grave.
My trust lawyer even says she’s not leaving her kids (both girls) an inheritance. She said, “You have to make your own way in the world.”
My dad always said... I can't put a roof over your head and feed you... but I can't pay your bills, put your roof over your head or food on your table.
@@genxx2724 that’s harsh, why not help if you can
Good on you. I’m the same. Too many people don’t give a crap about their kids futures. If you are in a position to help then help. We aren’t reptiles to lay eggs and slither away
Very informative and insightful video. Thank you for sharing.
Charlie Munger's biggest piece of advice - banish envy
This is all true. I know people who have more than they can handle and they spend their life and money fixing and caring for stuff. Even those who always pay people to get things done spend a LOT of time dealing with these contracts, payments, and various problems coming from poor service.
I also have too much stuff but nothing that I could not just give away or dump if it’s starting to annoy me too much.
Basically the most expensive thing I own is a $6k car, and I rent anything that costs more. The savings are invested and it’s all good. I could retire at age 55 but I’d rather work every other year or so and keep my mind sharp.
I say this over and over...but "stealth wealth" is the way. To heck with the Joneses!
I couldn’t care less about the Jones,
Great video. You do have viewers that are not yet retired. I watch for knowledge and inspiration. 😊
Very interesting information and thanks for sharing that you are a man of faith…I am too 😊
Love your messages! Really true! Royal family is an example! They are not independent and are behaving like brats!
THANKS AZUL FOR SHARING YOUR KNOWLEDGE❤
You have great content, thank you for sharing with us. Also: I love your format of going on walks to talk to us.
The Italians have a famous saying, buy only one home and all the land you can afford. I have a vacation home. Thank God it was gifted because it nickels and dimes me for sure in repairs and upkeep.
Thank you Brother, you are 100% right.
Nice Job looking at different parts of the journey other than
numbers.
Frugality is a personal trait that likely facilitated their financial super success. It's inherent to their personality, its their nature ... so why should they be expected to suddenly change after achieving financial super success ... it may even be "unhealthy" for them to do so since it destabilizes their sense of comfort, well-being, and stability. Perhaps they were driven to frugality by experiencing a trauma like extreme poverty or insecurity, and frugality is their way of escape and coping. For them, frugality is healthy.
Nice...quoting Fight Club near the end of the video.
We own 4 homes, free and clear, and live between two of them while renting the others out. Works out well and pays all our living expenses. Meanwhile drive a 20+ year old car. My girlfriend says I need a new car (the one living in one house with a mortgage. 😆)
So you have two homes and two houses then!
But what does your wife say?
GREAT CONTENT! Keep up the good work surfer boy! 😍
Blessings to you- practical Earthly wisdom too
It's not having what you way. It's wanting what you got.
I would like to add...travel & go to some of the third world countries, it puts it all into a clear picture.
Yep. Puts what WE thought normal into perspective.
Yet another Great video thank you Azul 😊
Like your stuff. You seem well grounded.
I don’t think I am rich or wealthy. I am 75 with a household income (2022) of over $700,000 with a true net worth in 8 figures. I still work for a large health insurance company as a medical director (headquartered in the San Francisco Bay Area). I live and look like a poor person (my clothes are clean but old and I even darn my own socks). I saved money sending my kid to college because the US Army paid for my kid to go to private colleges (BS, MBA).
What are you saving your money for?
Possession can be an obsession, so balance is a must.
Azul. Can you do a video explaining the difference between being cheap vs being frugal? If you are booking a 7 night cruise, do you always book the inside cabins?
The story of the guy at the beginning with the jet makes no sense. If he is “one of the wealthiest people in the Bay Area” why wouldn’t he just get the jet that he really wanted? Yet he still had the pic of his plane on display. I think it is just false humility.
That’s funny about the hand warmers. What’s the price of storing an unneeded bulk quantity of items in their home?
“If you have a problem that can be fixed with money, you don’t have a problem”, John W. Simpson.
The best thing you can do with money (assuming you have paid bills, etc.) is to: Give it away. The joy YOU receive is beyond measure.
I agree with both your travel comment (above) and this one. I love the John W. Simpson quote. Look for a video incorporating it soon! 😎 Azul
Thanks for the information!
Why not have nice stuff, people should enjoy their money and not just squirrel it away for a rainy day that never arrives. I do think boats and planes and probably a second home are a waste of money though and expensive to maintain
Great content where are you doing these great videos from?
Sound perspectives Azul. I am about to retire (late 50s) but I am not in US and would like to identify a solid fee only financial advisor local to me (Hong Kong). There are so many charlatans out there difficult to identify the good ones….would love to hear your thoughts
I’m curious Azul, how many military or federal civilian retirees do you currently advise or have advised in your career?
Very nice, it really helped ground me.
You are such a blessing!
Contentment I believe is the key, just my opinion!
Hi Azul
Great videos!
What’s the origin of your name?
What’s your ethnicity?
Azul. Take a look at a 2009
movie called “The Joneses”. It speaks to your first point.
Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
Please i need help
Thanks for the info . Found her website and it really impressive
Blue origin was founded in 2000. Space x was founded in 2002
They spend less than they make
Nice work!
Being rich they stuck in the mindset, he who hoard suffered want. No matter how much they possess it is always another one dollar more. It this calculative if it must get it worth.
Just get a CALPERS or CALSTRS job-work over 30 years and make over $80k USD annually plus COLA for life? Forget your family-never ever rely on being a beneficiary! You can add your own beneficiaries and contribute to charity!
So are the Jones’s actually the richest family in the world??
Your possessions certainly CAN own you. I have always heard to NOT buy a boat. Is that advice still relevant?
Buffet is not a well person but a hoarder of money , plain and simple and can’t part with any of that. I also know wealthy people rather give money to charity cause they hate to see it goes to an individual.
Most stupid thing i ever knew that rich people work 24/7 :D Bussiness is all about how to not work and make money :D
Play Deez Nuts 8:21
Mega rich people like Bezos and Branson all want to launch small peepees into space.
On Yellowstone , they kill people 😮
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
Don’t kid yourself, every job is high stress. Work for FI
But it took billionaire Warren Buffett several decades to start donating his massive fortune.☹️it's easy to be philanthropic when you're one of the richest people🤷
Some wealthy people like ex president Trump do not do anything that doesn’t benefit them!
There are the philanthropic wealthy people such as Warren Buffet and Bill Gates and then the likes of Trump who doesn’t donate anything!
How old are you azul?
Virgin Galactic is shutting down, sadly.
The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "KATRINA VANRENSUM ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.
That's right, getting in touch with a consultant during the pandemic was how I was able to scale through the crazy stock downtrend.
That's massive. Can you please connect me with your personal broker, I would love to work with her
Like I said earlier , her name is KATRINA VANRENSUM
Just run a search on her name, and you would see all you need.
Thanks for the info , found her website and it really impressive
Life is a combination of timing (i.e.when you were born...baby boomers have it easy, and I say that as a last year baby boomer), opportunity, and preparedness (people will call you lucky when you are simply prepared for certain opportunities).
Thank you for leaving out the god talk, which many of us find to be a deflection, and not a position of strength. If there was a god (there isn't), I would prefer it take care of the starving children over helping you and I get wealthier.
I’m Gen X, and I definitely don’t have the quality of life or as nice a home my parents did, on one income, when I was growing up. My parents were mid- and late Silent Generation. Lots of the kids from wealthy families I grew up with turned out to be druggies and losers. They were spoiled, plus they couldn’t measure up to their fathers. Instead of accepting that we weren’t going achieve the same success we grew up with even if we did everything right, they just didn’t even try. And it’s only become worse, with entitlement and lack of gumption now the norm.
This baby Boomer worked his ass off. Many extra shifts just so the ex could live well. Lol. Yet, I lived. I struggled. I had a plan. Off to the tropics to live till I die.😅😅😅
@@thomaselliott9485 A baby boomer told me when he started at a large company they said to him "work here 20 years and you will be a millionaire, but you will never be a supervisor, 'cause no one leaves. : 15 years later he was a third year supervisor and had 5% of the million dollars. Like many other companies that company decided cutting labor costs was job one, so end of year profit sharing/bonus was virtually eliminated.
This baby boomer also worked his butt off. And interesting how you thanked Azul for "leaving out the God talk" and then expressed your own religious opinions. I could have done without that as well.
I love this comment
How old are you ?
I heart ur vid
I'm new to trading. How can I make more profitable investment in crypto without incurring much losses?
Joy Elizabeth Lawrence is the key to robust profits. I'm currently trading with her also. Started off with a low amount and now my portfolio is unbelievable.
Thanks for sharing her contact information. I'm gonna reach out to her right away.
Another scam bot
I cancelled my subscription to FORBES magazine because: 1. They just kept listing “The Top Wealthiest” lists. I didn’t care. And, 2. Their anti-Trump bias.
Thank you Jesus for the gift of life and Blessings upon me and my family. $72,000 weekly profit Our lord Jesus have lifted up my Life!!!
Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!
@Mason Jacob Oh please, how can someone get to speak with Mrs Mary Elizabeth avella?I urgently need her to manage my investment please!!
@Mason Jacob Thanks for the recommendation just contacted her and she attends to me nicely.
I have heard a lot about trading and investment with Mrs Mary Elizabeth avella, how good she is and how she has helped people through investment.
I still Wonder how she gets her analysis, got profit of $28,609 with a capital of $4000 in 16 days of training with her.
to sum up we are all the same f monkeys no matter how wealthy we are we behave the same ...
Unfortunately, I can vouch for the risk of "becoming the possession of your possessions". This is not a boast, I promise, it is a very real problem. I have been reasonably successful in mining which allowed me to not only gather possessions over time, but also to retire (relatively) early at the age of 54. I own 6 homes, 8 luxury and sports cars, 4 boats and 13 high end motorcycles.... When I was still working and travelling the world for work, I felt proud of these "achievements". However, now that I have retired, and have ample time to enjoy these homes and toys, I feel trapped by them, and again this is real, it is NOT a boat. Worst of all is that I cannot get myself to sell them. I might have to see a psychiatrist, but I feel like I am somehow "surrendering" if I even think about selling anything....
I am quite mad....