Why Pretending to Be Broke Can Make You Rich

Have you ever wondered why some of the wealthiest people live modestly, avoiding flashy lifestyles and extravagant spending? It’s not because they can’t afford luxury, but because they understand the profound benefits of living frugally. Pretending to be broke, or adopting a frugal lifestyle, can lead to significant financial gains and long-term wealth. In this video, we'll delve into why pretending to be broke can make you rich and how you can implement this strategy in your own life.
🚀 POPULAR VIDEOS: 📺
▶Watch my Financial Education video here: • FREE 2 Hour Financial ...
▶100 ways to make money online video: • 100 ideas to Make Mone...
▶Join this channel to get access to perks:
/ @practicalwisdom
🚀 Join our free community and unlock a weekly treasure trove of practical wisdom: practicalwisdom.beehiiv.com/s...
DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.

[@alihossan6655]

Time is the biggest asset that most people squander. You really only have 5 chances from age 25 to embark upon a low risk 30 year investment journey towards financial independence.
After that, it's certainly possible but gets harder the longer you leave it

[@michealpnoel]

I agree, With the $2 million I got from selling a property, I began my investment journey in 2022, and now my portfolio just surpassed $50 million yesterday. I'm reinvesting the returns into real estate to further enhance my financial growth. My advice is simple: if you can start your journey to financial freedom early, do it. The earlier you start, the more time you have to grow your investments and secure your future.

[@stevenorris1]

How did you grow your portfolio to $45m, I'm impressed, I have a lump sum in the bank, the rates are not impressive so I'm moving it, what's your cash flow like?

[@michealpnoel]

I have a financial advisor (trader) she grows my liquid assets and I reinvest the weekly payouts back into real estate and long-term ETFs like VOO and SCHD. I have also started acquiring some tech ETFs, including IITU and IUCM.

[@stevenorris1]

Sure it's all about DCA, could you please share her name with me or any details so I can look her up online? Thanks!

[@michealpnoel]

She is well known as - Diana Leayani Lara. please do your own research.

[@collins.l454]

I have a question: how can I explain to some friends and family members who are either largely unaware of this or don't care how crucial it is that we start preparing as soon as possible? I find it incomprehensible that they don't appear to care about acting, yet in this group, I am the "broke" one in contrast to them! If/when the shtf happens, I want everyone I know to be better prepared!

[@FreestyleJameZ]

Great for contemplation. I've learned from my minimalist path and have changed a few things. Choosing what to do with all the "things" I've brought into our house is taking me some time. There have been much more ups than downs in living a basic lifestyle, and I have added a few items along the way that I never paid attention to.

[@AdamWright8fool]

Indeed, doing things yourself will save a ton of money. You can save a lot of money and be able to retire early by eating simple meals most of the time and only purchasing for necessities rather than enjoyment. or just to not having to have a full-time job, take advantage of more free time to do what you love and remain in touch with someone with financial competence like *Leah* *Foster* *Alderman*

[@CoreyLloydo]

Enjoy your low pain threshold and your ability to move around. It's too late for such dreck of comparison. Every day that goes well is a gift.

[@collins.l454]

Funny thing I don't mind if people are richer than me! Individuals who possess it pretend not to, and those who don't pretend they do. Certain levels of expertise are truly flawless.

[@AdamWright8fool]

She then urged me to quit whining because I was financially doing far better than other people, especially in the world.

[@iirekm]

I 90%-agree, but every stick has 2 ends. For example saving money on apartment means you will live in "normal" or even poorer neighborhood, which limits the people you meet. You are more likely to meet more influential people (potential investors, good advice or business partners) in richer neighborhood, in more exclusive gyms, clubs, etc. Unfortunately it costs money and may quickly evaporate any savings. Also: there's no guarantee you'll be alive in 1 or 5 years - what's all this saved money for?).
Percentages can be some guideline: if you can't save even 10% of your salary, you're probably living too rich, if you save more than 50%, you're probably living too poor and missing many opportunities.

[@dianneyung111]

They forgot the biggest benefit. Pretending to be broke keeps the freeloaders away. Think of how much you would have if you weren't bailing out family and friends .

[@ahnphier]

Yeap

[@billyguadarrama5139]

💯

[@badgerproductions3786]

My bank account is on -50 I ain’t pretending I am broke

[@axeltech9914]

Bruh😂

[@badgerproductions3786]

@@axeltech9914 You don't believe me I will take a screenshot

[@dr.ksampson]

😭😂🤣⚰️😴 no matter how much i see you, your voice makes me think its a 15 year commentating. Keep up the good work & youthful voice.