My bank account isn't growing, though I look and talk like a Rich man! So I do performative grief so that people understand I AM actually Poor! What to do?! 😅
I'm a little bit older so it stands to reason I learned this a long time ago. I wasn't aware there was a name for it. And for what it's worth to whomever may read this, I learned to enjoy my desire. To even revel in it. To enjoy the anticipation. As Nischa points out, we no sooner than obtain our desire before we have dismissed whatever it is and are looking forward to our next conquest, as it were. I tell you you can wallow in anticipation. It is exciting. A bad example would be Nischa. She is beautiful. I know I will never meet her. But it is exciting to wonder and desire and fantasize about it. Another example. I would love to have the biggest, gleaming black GMC Sierra Denali that has ever been made. But I know as soon as I bought it it would lose its lustre and I would be eyeballing some huge Suburban. Like Curly said in City Slickers 2, "you just have to find that one thing".
You don't follow your own advice at all... The only reason for female social media influencers is their looks; less than 1% of them are honest to basic standards of honesty.
I worked 30 years for a fortune 500 firm, was able to retire at 54 and live in a gated community where I can enjoy my remaining years. SAVE MONEY so it is there when it is needed. As someone else said, it can be cool to be a minimalist and poor when young, but it really sucks when you are old. So work for your future self.
I enjoyed my job and didn't view it as "a daily grind." I also had a lot of freedom and flexibility. Retirement for me has been all losses and no gains, I'm afraid. Each withdrawal has only made it difficult for my savings to recover through compounding. It feels like etf's and bonds might just be limiting my returns instead of managing risk
I'm approaching retirement and having a fund manager has been helpful. I started investing later than most, so relying on compound interest from index funds or bonds wasn’t enough for me. Despite that, I’ve managed to do well and am on track to retire with around $6 million
I usually avoid making specific recommendations because everyone’s situation is unique. However, my experience with Emily Ava Milligan has been quite positive. You might find it worthwhile to see if her approach fits your needs.
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
It's recommended to save at least 20% of your income in a 401k. My adv taught me to estimate how much you should save based on your age and income. I've been with her for years now and her decades of experience in the markets translate to chunks of value in so may ways! She has upscaled my portffolio and even got me reading self help books haha
REBECCA NASSAR DUNNE is her name. She is regarded as a genius in her area and works for Equity Services inc. She’s quite known in her field, look-her up.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
women havw allways looked right though me like I am invisible so I dont need to spend money on expensive clothes or drive flashy cars to impress them. I no longer care.
@@lyndonfring6421 me too, if I feel like some pressure building up I dont hold it back. I just fart, even if it is at a meeting with some of the clients high bosses.
Money gives you one thing only.... choice. Choice to take a holiday, Choice to buy a car, or a better one, same for house same for clothes. etc. I became debt free, 1 years ago. You have no idea how much of an anvil, debt is. It doesn't buy you love. There is no such thing as a secure job, jobs for life do not exist. Plan for retirement and be debt free before you do retire. Retire as early as you can. Invest time and effort in yourself, INVEST in your health, INVEST in your WEALTH. YOU WILL BE CONTENT.
The general idea is fine but debt can also be tool to build wealth or at least speed it up if you know how and when to use it. (Buy Tesla stock when its down 80% for example)
Looking wealthy around family members often breeds jealousy and creates expectations about what special occasion gifts others will receive from you. It also increases the likelihood that you will be asked to host others, pick up the check at restaurants, make loans that won’t be repaid and to bail other family members out even if their misfortune were created through poor decision making. Look modestly presentable at family functions but refrain from appearing like you have a ton of discretionary income. Don’t ask me how I know.
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
I appreciate your dedication to sharing valuable financial information. By making informed investment decisions, living within our means, and budgeting effectively, we can all work towards financial stability.
Despite my involvement in investing, I am discouraged by my inexperience in evaluating the performance of specific firms and figuring out when to buy stocks. My worries are heightened by the way inflation is depleting my cash reserves. I am not sure what to do at this point, but I need to know the exact market trajectory information.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Sonya Lee Mitchell” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
When we moved into our home 10 years ago, I painted the quote "Gratitude turns what we have into enough" on the kitchen wall. It's become our family motto. It keeps us humble and focused on what matters most, and when we start to get frustrated with not having "all the nice things" it shifts our focus back to being thankful. If I start to get an itch to want something new, I take something I currently have and give it some care and energy and focus on my gratitude for it, and suddenly that need for the new thing is quieted. It has drastically changed our way of living, and I'm forever grateful for it.
Great video. I'm a millionaire minimalist and gained my wealth by only focusing my money on my business, relationships, and saving and investing. I sold my 6,000 sq foot home and moved into a beautiful small apartment and bought only quality Eco friendly furniture & products. I do this with my wardrobe as well. I have saved so much money with this ethical lifestyle that I can afford to travel anytime I choose and focus on more meaningful experiences rather than material possessions.
Yes, okay, avoiding lifestyle inflation is one thing. But why do people always think it's worth paying so much more money for "experiences"? It's the same nonsense as materialistic consumption. Funnily enough, when enough time has passed, you can no longer remember everything exactly and your brain starts to "interpolate" experiences. Why do you think eyewitnesses are the weakest kind of evidence in court? 😂
@@clint1285 ugh, it was prison! I feel like I have so much freedom now. You don't need a lot to be happy. I can focus more on my family & friendships now. ✨
I noticed the hedonic treadmill effect when i bought my last car.. I'd always wanted a 370z, finally got one, LOVED it for about 2 years.. then it just sat there getting moss on it, and i didnt care, "its just a car".. Now, I've sold the car, and cycle everywhere on my 2nd hand bike. My realisation was that Time = Money Money = More Things More Things = Time. Less Things = More Time Game changer for me.. I now work 3 or 4 days a week and just find happiness without having to buy stuff.
Nice car though, they still look relevant and modern even thought the design is about 10 years old. Never be another petrol guzzling beast like that, for that sort of money.
We retired last year after working our butts off for 35 years and doing everything we could to appear "poor" even though we are not and never have been wealthy. We have no debt (including no mortgage) and ample monthly income but certainly not wealthy. After driving our Honda for 9 years (258,000 miles) we bought a nice car. We could care less what neighbors think, we smile every time we take a ride and have no buyers remorse! We don't want to look poor and don't believe it's important to look poor! Life is too short not to enjoy the fruits of your hard work.
This is what I hear repeatedly. I've known many millionaires. The vast majority of them are driving their older economy car until the wheels fall off. They may have a fun car, but that is purely for weekends or special occasions.
I'm a 46 yr old from South Africa, I run my own Accounting and Tax Firm.... I work more than an average person does! I'm not going around looking poor and be judged by the very same people I should impress by looking poor. Lol😅😅
This is what works for me, there is a balance to be had. I've been driving my current car for 11 years, she's about to crash in the next year. I paid out of pocket for my Master's and certification (increasing my earning potential). My only regret is not investing enough earlier but I can't live in deprivation anymore - I at least need a nice place to live where I can rest, touch grass, and have peace. The other stuff is really not that important to me anymore.
Stop valuing your consumption and start valuing your production. Even if you just cook for yourself, having an exceptional home-cooked meal gives you far more pride and joy than having an exceptional meal out.
i agree... my wife doesnt agree. her whole family and upbringing is vastly different than mine... i found out only after getting married... known each other for a few years
@@mx.chiugo No its totally about better choices, because people are generally terrible and narcissistic, in the modern world. Know your enemy, know the signs, research narcissistic behaviors and become aware of the universal red-flag behaviors. WAKE UP! Live in reality, not wishful-thinking-land "I will put my discrimination on hold while I wait for everyone to become better people" Um......no.
My rule is I don’t touch money for 60 days when I decide I want to buy something nice (specifically if it’s not something I typically budget for), or when I get a large sum of money. By the end of those 60 days that feeling of excitement and wanting to be a little irresponsible wears off, and I end up never regretting whatever I still want to purchase.
that's good in theory but sometimes that thing would just be too expensive or not available anymore if you wait too long, for example tickets for concerts or vacations.
This is crucial. In my two year journey of strict budgeting I have felt that draw of the need to buy. And you’re right, it can take a couple of months to shake the addiction to a product/widget.
there's a book called Secret Pathway To Triumph, and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
We Indians were taught to be modest by our parents. It is backed by our philosophy to be modest, so many scripture prove that "Being modest is stress free, even if you have wealth". Leading simple life is stress free leads to more wealth... Good analysis backed by case studies..
In my country looking poor is life saving. LITERALLY I’m not joking. Here if you show that you have any money you get kidnap. That’s something you learned from very young age. I have a good job where I make good money, and that’s because I speak English, but I tell all my friends and family members that I work as a waitress and make not much money. I drive I very old car and dress as a waitress. Black pants white shirt and hair up. The only person that knows the true is my mother, but she’s the one who teach me how to as she’s been doing the same.
Dang, that's crazy. It's not like that in general in my country, but I did grow in some of the roughest parts so I do understand how nice things can paint a target on your back. Your example is very extreme though. Best of luck, and stay safe out there!
which crazyyy country is that?? many cultures are not happy for others success...everyones success or failure is their own responsibility, you have no role there...:))))
The two most important things to do for self confidence and presentability are to not be materialistic and to be hygienic. Nothing else makes such a big dent as looking clean and knowing you’re financially secure.
This video is me!! I've gone from £1,100 a week construction job which I hated, despised and no matter how much I got paid, I was thinking of ways to not to go to work, drinking more than ever before. To a £620 a week job, that I enjoy, have more free time and I can spend more with my family AND work on my own business more to grow. I'm alot happier at £620 a week! At £1,100 a week I was waking up thinking... do I really need to go to work, thinking of ways not to go 😢 My outgoing a month are £1,000 (rounded up) I'm a tight pocket Yorkshireman who lives below his means never with my wage packet! To everyone who reads this, I wish you all the best on your journey 💙
With sone jobs drinking is part of the culture. It makes alcoholism easy to fall into. It is encouraging to hear of someone achieving financial happiness. I'm living a good life but struggling to stay happy atm.
@bdkamil95 I think I've worn myself out trying to hustle to be rich at the wrong time. I can live the high life on freewheeling mode atm and I should focus on that until something comes along. I travel Asia and have for the last year. I want to do it permanently and I think I've been a trying to be too hasty with some things. Still though boundaries have been tested and I've made mistakes early without losing out too much. I'll be ready at the right time.
@badkeiser I know what you mean, I've come from a military background (drinking culture) to construction where that is a drinking and a drug culture! Make a change whilst you can mate! I was working next to a cemetery, day in day out seeing people get buried and thought stuff that, I aint going in living this life. I could have stayed on a nice, lovely wage and not be happy. I chose the other, short term financial sacrifice for long term gain. Follow your heart mate
This is so true. I walked past a charity stall with $1000 in my wallet and a T-shirt and denim shorts on 10 times with all my bills paid or in advance and didn't get engaged once while struggling mothers in the latest fashion were getting stopped first time explaining that they couldn't help because of expenses with the children, mortgage and bills. We need to shift to seeing people as people and look through the image at the authentic value that is within each of us. Stay blessed.
I had a career as a painter. A commercial painter. As I became more successful I still wore painters pants and a polo. The same thing I expected my employees to wear. By the time I was sixty I decided I should go to a financial planner just to see if my money was put in the right places for retirement. So I make an appointment and go see the guy at lunch. I told him I wanted him to review my investments and see if things were allocated for retirement. He kind of smiled looking across his desk at the old guy dressed in paint clothes. He asked, so how much do you have. I said the total was around six million. He laughed and said, no really. I told him I was serious and laid out the statements from my bank and brokerage account. He looked up and said, I would have never guessed.
Your best video yet! Took me years to understand this and I used to be bitter when my dad never drove a nice car or lived in our own house (always rented until he turned 60). Turns out that his net worth is sufficient to allow him + me to retire in comfort all because of this frugal mindset and only spending it on things like my education!
if you look poor, people start looking down and misbehaving. Looking poor is a bad idea. Look balanced, nothing too gaudy ! But looking outright poor is not the best solution
Thank you for sharing this Nischa! I recently quit a high flying corporate job and I can also confirm that there’s nothing as fulfilling as having freedom, without anxiety on how I’m going to pay the bills
"Sometimes, it's not about having a talent, skill, or passion. But what if I told you that with the right investment, you can still achieve your goals? No talent, no skill, no passion, but good investment can bring you financial freedom. Don't underestimate the power of smart financial decisions!!!!!!!!"
I agree with you and I believe that Professionals are currently dominating the market since they have access to both the necessary strategy for making money in this industry.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@face2lune Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial planner. For the record, working with one has been the best for my finances...
@@AllisonSherman657 How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits, such as regularly setting aside money for sound investments.
as a show-off Italian I find this comment very racist, we Italians can wear gold chains and drive low-end BMWs paid for by our parents' money with the best of them.
unfortunately, especially in some cultures, visible wealth is something that makes you more likable to other people. you get more opportunities in the work place, people tend to help you more. it's kind of a halo effect for wealth. having a pragmatic approach to luxury items to fit some places and having a strategy can be useful if you want to climb the career ladder or build your own business. it's calculating and cold not everyone is born in affluent circles.
Yes, the key is to not give in to lifestyle inflation. Keep living like you're on a reasonable income, and then the rest liberates you. Give in, and you'll be miserable.
You are so spot on. I agree with you in so many ways. The trouble is, I live this way now, but I learned it the hard way, the school of hard knocks. I lived through it all and felt it all. I learned and changed on my own by learning from experience. I am 68 years old and now live the life that I know is mine. I wish I could start all over with the knowledge I have now. I also wish I had someone like you to say this stuff many years ago. I pray your video touches many out there in the world. It is a much better way to live. No one owns you. It frees you up to be creative and give to others on your own soles path. Thank you for doing this video.
Totally with you on this Nischa, earn enough to generate a secure future that permits you to express yourself as you really are. I am retired, secure and drive a 15 year old car, that car is a joy, it always can be left anywhere, get scratched, dented, doesnt matter, it is a tool for me to use, it is not a representation of my ego, personality or potential. Well done for guiding people to think this way.
Another big reason is it keeps other people from getting ideas about raising your costs. I rent my apartment. I'm very careful to not let my landlord find out if I went on a vacation or got a new job. Oh you have enough spare money to go on vacation? Here! Lemme raise your rent! You can afford it! Nice house! Nice car! I'm gonna bill you more because you look like you can take it! Vs oh that's an old falling apart bucket of bolts! I can't fleece this guy! Hey thanks for the discount!
Smart! it also applies to home-ownership when that contractor or repair person pulls up and assesses whether you're "one of them" or some rich person that can and should pay more.
Work a job you like. Be very frugal, save money, be a minimalist basically. I still have a Iphone 7. I didn't upgrade my iphone to the newest one. All I did was replace the battery in it. That costs me like $100 after 5 years. I still have a CRT tv, then things like electronics that I buy I usually keep that for 10 + years for Longevity. I'm pretty much into video gaming. 1 thing I did that I did now was quit modern gaming. So that's saving me like $1000 or more per year now just for the fact I am not buying a PS5. That money that I am saving will go to TV Series on blu ray or blu ray movies.
I used to drive a Mercedes everyday and it was never about looking flashy (was a gift to myself and something I'd wanted for a while), but that's always how other people saw it. It cost me a fortune in maintenance (over £12k) despite being a good used example. I now drive a beat up Ford Focus. No one bats an eye at it and it's so much more enjoyable to drive, less worry, and most importantly costs me nothing to run. The £500 bill I had on it a few weeks ago was pricey but deferred maintenance from last year. Live cheap and take that money to something more worthwhile and most importantly memorable!
My husband has a mercedes and i have a hyundai but his favourite car is his Toyota Cressida that he brought from is uncle before he died. I asked him why he loves that car so much he told me because is reliable and easier to maintain. Simple things like the globe for hyundai costs10x and you more than Toyota and you can only get it from hyundai, so i was shocked that she compared hyundai with Toyota and honda. I personally prefer my Toyota camry that I had before, i regret getting a hyundai
I learned this in college 15 years ago in Micro-economics. People who win the lottery return to their baseline level of happiness, and after a certain income level (there is a minimum threshold) your happiness stays the same at any income or level of wealth. Since then, I have thought, we're no better off than cavemen. When people say they're glad they live in the 21st century with cars and all the technological progression, they think they're better off, but it's an illusion. Cavemen didn't know any better, even if their quality of life was much lower, their happiness was likely the same as today 🤣
The decreasing marginal utility of consumption :) After a certain level, there is no more benefit. But I do think that getting out of the situation where you were always basically one bad harvest away from starvation (which is how the vast majority of humanity lived until the 20th century) has increased happiness. So did not having to watch half (or more) of your children die in infancy. Cars and smartphones probably not so much.
My mantra on money is what I call the three Fs of finance - Fun money, Future money and FU money. Have money in those three buckets and it makes life a lot more enjoyable.
A person is supposed to enjoy their life. Do what makes you happy (as long as you aren't harming), if you are buying things to "keep with the Jones' & no bc it's something you love. There is a deeper issue or trauma.. a need to be liked or accepted. I buy things that I love, but I don't depend on anything outside of me for joy. You have to think for yourself & live fir yourself. This is your life, Don't wasting your time trying to please or impress orher people. Just do you!
This is an eye opener video and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $90,000 per annum but nothing to show for it.
@@hullbruce Speaking from personal experience, I would say engage professional guidance. Not sure where you get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.
@@Jaymilnere This wouldn't be the first time i am getting the suggestions to use one, but finding a decent one has been challenging. Do you mind leaving some recommendations?
@@Higuannn I'm not one to give recommendations but The likes of Sharon Crump Cline does a good Job. I've been working with her for years. All the info. you need to set up an appointment is on her web page.
Nischa has changed my financial pov for ever, in 3mnths I’ve got rid of c card debt, have savings and investments, and I’m happy with : My old car (it’s great and debt free) My old iPhone (it’s an SE and works for me and is debt free) My holiday is modest, but is PAID FOR, without any debt… Thx Nischa… we are now clearing the shed/garage/loft selling things to put towards Xmas.
I have a different take on that topic. Only poor people should look poor for obvious reasons. But once your bank account is sorted, you can look whatever way you like. I've personally made it financially in life. Why should I continue looking as if I still haven't made it? I worked so hard so I could afford better things and live a happier life. Outward appearance makes me feel good even if no one sees me. I'm doing it for me.
Well, her advice is obviously targeted to the people who haven't made it financially yet spent too much for the sake of outside validation. Your take is not a different one. Your take is for a different topic.
Agreed!! You earned it enjoy it.. rich people might look simple but that shirt , simple trousers the watch, the car are anything but cheap.. poor people wear flash. Wealthy wear expensive stuff. You can look good for less and don’t have to come across as rich but certainly not poor
I needed to hear this. I traded in a nice Chevy Silverado for a Honda Accord two years ago to save on gas, insurance and to lower my monthly payment. Now I’m caught up with my finances and I’ve been looking to buy a new truck that I don’t need. Definitely keeping my Honda for a while.
The key to what you said is that you don't need it. Ask yourself if you don't need it why bother. Try and get something that makes you happy and that you need more than the Chevy Silverado, example, keeps its resale value, low maintenance cost and cheap to run. The Honda Accord probably ticks most of these boxes as would a Toyota.
The title of this video is quite misleading. The content deals with how authenticity and simplicity outweighs materialism, but nowhere does it mention why looking "poor" is important.
The Medici had the same policy. They stood out of the public eye and only came to the government when invited, thereby angering no one no matter how rich they got, in fact they became so rich that hiding their lives was no longer possible. They then became the greatest force in the Florentine republic and started the process that built the modern western world: the Renaissance.
Someone would never see how much money i have. Understatement. Doing good in silence. This is the way. What is more valuable than money are people you love and good experiences.
Looking poor is important for internal happiness. However definitely not for how you show up if you are an entrepreneur. 99.9% of prospects, businesses, investors will write you off and will pay zero attention to anything you have or have to say if you look poor when you show up. Appearance matters in business world and to people that do not yet know us personally, either we want admit, believe or accept it or not. It is simply a fact of life that is unlikely to change. Any other time, I totally agree that looking poor and living within and below our means is very important. This is the lesson I've come to learn the hard way as I transitioned from almost 2 decades of being an employee to becoming an entrepreneur that meets and interacts with hundred of strangers weekly.
It's incredible how your looks matter at any age In mature years after you retired, I believe it's the time to enjoy your money If I want a good perfume, for example, I will get it, who knows how much time I have left Everyone is different
The older I get (Currently 55) the less I find myself "upgrading" my things. I've found what I love, and kind of stay there until what I have breaks, doesn't do the job anymore, or isn't supported. I purchased my first new phone in 5 years because my old one wasn't getting security updates anymore. My newest car is a 2005 (and I love it), and my house is less than half the size of my old house (and SO much easier to clean and keep up even though it was built in 1909).. Good information, I hope my kids can learn thee lessons sooner than later.
I chose to get off this treadmill eighteen years ago and my personal experience over the years has been simply awesome..while people around me are extremely successful and have the extraordinary pressure to showoff i havent had any such pressure and i simply used that to my advantage..i dont own a house,i use public transport,i dont have this constant nagging from peers and family and frankly it has helped my mental as well as physical health..but i can understand that its not everyones cup of tea.
At first, the growth of the businesses is all that matters to us, and while many growth firms claim to be growth companies, in reality, they are non-growth companies, there are plenty of growth companies that are not expanding.
she went on to manage my portfolio i become a stakeholder which comes with a cost of only about 1.5 million at this point in time dream lined efficiency
to take $25 worth of credit from another lender let's say you got little Bobby over here who's willing to have him collateralize his debt and then issue him another $25 off of that well you just took money that was borrowed and you were able to leverage that borrowed asset for more capital
I keep my looks clean, simple and focus on being humble. Knowledge is something that’s on the inside and it shows on your face. People sometimes judge by the external looks and don’t make efforts to know a person by sitting down and talking to them.
Years ago I read the book "The Millionaire Next Door"....I learned to implements this concept early on and ever since I have lived well below my means, started investing, only purchase what I NEED, not want, and living simply! Also, I learned frugality from my parents who barely had 2 pennies to rub together but they made it work. I'm in my mid 50's with a family and we are free of debt!! I'm sure my friends and family wonder how we make it and this is why I don't show off my wealth!! LOL...let them guess!! It is truly liberating!
I'm from Denmark, so happiness is given. This is my happiness hack: I focus every day on my priority list: 1: Freedom 2: Making money with money 3: Spirituality 4: Making music 5: Serving humanity Why look rich, when it will only attract superficial relationships and scammers. It's also easier to make more money, when I keep my expenses low.
Interesting that you should make this video. I was telling someone, recently, that I have met more millionaires in ripped up jeans and well-worn t-shirts, than any sort of designer clothes. And, the majority of people, who I have met, who seem to be slaves to fashion, putting their labels or logos, ostentatiously on display, they've usually been living beyond their means. Some people have different hierarchies of what they value, and, even those who have similar, or, the same, have different reasons. Thanks for what you do.
There's an annual beer festival event each year in town. My drinking buddies always ask me if my wife will drive the delinquents home, they really enjoy the luxury ride, and it's become an annual tradition. We all have a blast about it, including my wife who happily volunteers, she thinks it's the funniest thing ever. Having a wealthy friend is just more fun to them. They will always buy me drinks, and I have a real hard time paying for a round, they will say "No need to pay for the round, we just want the ride home!!!". Be your old self as before, and most likely no one will care.
Is it a joy? I had colleagues who drove €100.000+ cars and after half a year the newness faded and they were already daydreaming about the next one. Are you really happier when sitting in traffic in a beautiful car vs a regular one? Is it worth foregoing the extra money in your portfolio and/or working less hours per week?
What they meant is actually "not flaunting wealth". But you know, "looking poor" sounds like a title that will attract more views. It is more intriguing. You're not supposed take titles too literally to begin with.
They are just trend hopping like typical opportunists without individual ideas. Last year they all talked about the 'old money aesthetic' and 'silent luxury'. It's laughable.
I love your message because it's basically about consumerism and how big corporations are selling a lifestyle or look and it plays on emotions and prevents people from saving their money. That guy from NYU is talking about this exact point where saving money is the new happiness and the true wealth. A great documentary is The Corporation from 2003. Noam Chomsky is in it and it speaks to many truths about how selling and consumerism had gone haywire.
Retired boomer here. The one most important piece of advice I give young people is to aquire a home, no matter how humble. If you're poor, start at the bottom with a small condo, maybe with some age, maybe in a neighborhood that doesn't thrill you. Just get started. Pay down your mortgage as much as you can, and keep looking to trade up. After you have reached a point where you like the home you now have, focus on paying it off. In order to retire on a modest income from SS or pension, you need to be mortgage free. I never made a ton of money, but this strategy enabled me to retire in relative comfort and worry free.
Spot on! It’s all about freedom. In my highest paid job I was earning more than enough to give my family a great living standard but always wanting the next promotion, pay rise and each time I got it there was more stress and time spent at work. Now semi retired self employed and barely earn £10 a hour, it’s the best job I’ve ever had because I able to choose when to work. I’m fortunate to be in this position because I saved and invested when I was well paid and that affords me the freedom to work or not as it covers all my essential bills
your message resonates with me... freedom is key to true happiness. Freedom of time, space and money(once one can successfully escape being a slave) Nischa, your inner and outer beauty is ineffable🌸
Having F U money is key , it gives you options you don’t even realize exist , it allows you to turn down jobs that don’t meet your pay expectations and it gives you freedom and confidence in what you do moving forward …
You should be turning down jobs that don’t pay well regardless of your financial status. Unless you’re desperate for a job and will pick anything, you should always be strategic in managing your career.
I can 100% relate to this. Once you have built up your security and emergency funds, you can finally start thinking more rationally. I quit my job, went traveling, and found a better job that paid me 75% more just three months later. I was miserable in my old job, so the F U money gave me the freedom to take on more risk. Having a financial cushion to fall back on is essential.
"luxury" goods are marked up 1000% to 2000% over cost. You are not paying for quality, you are paying for billion dollar ad campaigns and very expensive boutique shops.
I’m using an iPhone 8…in 2024. I WANT the latest but 8 does everything I need. I’m planning to upgrade soon; but, the point is I will upgrade when needed
I wear flannel shirts and jeans with holes in them and missing buttons. My shoes get worn way beyond when normal people replace them, and I drive an Ex U-Haul pickup truck with light hail damage that I paid cash for. My only debt is my mortgage on my small house of 2.7%, which is about $650 a month. I could pay it off, but I don't because I make more in investments on that money. I have more than I could possibly use. Once I realized that nothing I buy makes me any happier, I started investing, ha! I'm most happy when I use what I already have, clean and organize, or go do something fun. The less I owe to society, the more freedom I have and the more I can give.
I don't really care much about dressing up myself jeans, t shirt/cotton shirt with sandals. I took a home loan and paid the last installment when I turned 37 years. I'm now saving money for retirement cos i know relying of government pension when I turn 60 isn't gonna be enough for electricity bill so I need to Save up now, the state of elderly in global north country's is depressing, I really don't want to end up homeless or on streets in old age. I also have a fixed saving account that are earning interest every month figured it might be better to save money that way instead of under a mattress😂
@@elainelindsey1306 Paid off at 37 is impressive. Congrats! You've got 50% more time than me. I'm 47. Retirement hits at 67 for me. Hopefully earlier, but we'll see how the market goes.
This is spot on. The lifestyle creep was the most challenging part for me to overcome. I started asking myself these questions before any big purchase (>$1K) Does it improve time with my family? Does it help me improve my health? Will it improve my financial situation? If it's a yes to any of the questions, then I will consider it. 2 of three, I will highly consider it. 3 of 3 is almost a certain buy.
Not necessarily looking poor. Meaning you can have nice clothes but not flaunt the brand. You can find things that fit you well, be in great shape, etc. Even eating high quality food isn’t going to break your budget, so long as you aren’t too lazy to prepare things for yourself. For sure having priorities in order is the game changer. The person who has their mortgage paid off may still have an old iPhone 6 still LOL. But the house being paid in full is more important than keeping track of what iPhone model they have.
"Looking poor" is just another way to say frugal. I've found it's the only way for normal people to generate wealth. And the lack of it prevents most high income earners from becoming truly wealthy.
The first reason would be to keep people away from trying to take advantages from you. If you are wealthy and/or even worse famous, the chances are people will come to you and asking for money. They could be friends, partners or family members. It is tiresome and you will make a lot of enemy. If you gave/borrowed them the money, they will distance themselves from you, because they dont want to be asked about the loan. Alternatively If you dont give them the money in the first place, they will dislike/hate you, because they see you as an unreliable friend. Either way you will lose friends and gain enemy, if you dont keep it quite. Hence keep it quite for yourself.
Over the years i realized it's better to create memories, have a quality time than clothes, invest in yourself mentally, spiritually... A lot of ppl selling a bunch of things over the internet, social media, when you work a lot of time you don't have time to enjoy your freedom, or spend on your growth so what you do is you making others rich by buying their product for short term happiness. Start cooking at home instead of doordash, uber eats, cooking makes you happy, work out, take a walk, go to a concert, read books, have a hobby, wander, etc
You'll also live longer on average. Achieve enough financial security and then focus on lowering your anxiety and stress. You'll be happier and be around longer. However, it is one thing to not spend money on new cars and designer clothes, all the other common trappings of wealth appearance, but the harder nut to crack is *where* we live. Even living modestly can be a huge financial drain in an expensive city if your (quite reasonable) baseline is a clean and safe area of the city.
I was lucky enough to receive good advice when young and poor: "If you're ever wealthy and/or make a lot of money, don't tell anyone." Now that I'm old(er) and wealthy, my experience has been that if someone finds out you're wealthy, their reaction is one of two (not mutually exclusive) types: 1. They want some of your money. 2. They think: "I'm smarter/work harder/am a better person, etc. than him! How'd that schmuck get so rich???" No one -- not even your own mother -- will think (much less tell you) that you're great and deserve every penny you've got.
We should not aim to look poor we should just aim to to get more for less. I remember, once, my boss ( a lady) told me, "Lucky you, you can buy a cheap new car without caring what other people think". I felt a bit insulted. It's not like I do not care what other people think, I just do not want to pay to make others feel different about me.
I just had to watch this video, because I was intrigued by the title. Since last year, I've spent over £5,000, mainly on high quality handbags, shoes, and other frivolous material things. Unfortunately, I live in a poor area, and when I step out carrying one of my expensive handbags, I feel like I'm making an ostentatious display. The thing is I've worked exceptionally hard, running my business for 7 years, and felt it was time I treated myself. Some people love high quality things, but it doesn't mean that they are pretentious. I don't drink alcohol, overeat, smoke, or indulge in the usual vices, but my handbag collection gives me immense pleasure.
Agreed. I truly don't get what's wrong with getting nice things for yourself if you enjoy them. I'm not talking about accumulating but quality objects that you are going to use regularly or some for special occasions. I love my job and besides mortgage I'm debt free, so why would I stop myself from driving a Mercedes if I love it? So you go and enjoy your handbag collection, there is absolutely nothing wrong with it.
I agree, a lot of financial TH-cam vids are like that. A lot of shallow assumptions are made of others. You do you, and if someone wants to judge you for it, then they are clueless, narrow minded, and I would dare say pretentious for assuming things about another person they do not know. Who cares? Just don't get robbed. lol.
Great video. However.. I agree with other comments saying that the concept "looking poor" is ignorant of the reality of actual poverty. This trend, is more a case of rich people using terms they don't know in a careless way. Not looking "flashy" might be a better way of phrasing this.
Exactly! It’s like rich folks saying that living a minimalist lifestyle is a great way to build wealth… as if people who are poor actually have a choice. The advice sounds good, but it’s actually ignorant of many people’s lived realities
I used to want a nice car, but I've decided that the best car you can have is a Honda Civic or Toyota Camry - an affordable car that is very reliable and fuel efficient. It will always get you there. It doesn't stand out so is less likely to be targeted by criminals. Better still if the car is beaten up and dented - that way everyone knows to get out of your way on the road, because you don't have much to lose. I'd rather be rich than look rich. This girl makes sense.
I still drive the Toyota I bought 25 years ago and I will continue to do so until the wheels fall off :). I have not had a car payment in 20 years, and I love it!
At my age, I take what you have just said seriously. I've been there, where there's unending competition with so much debts at times. Now I have since gained knowledge on being myself, not pleasing or impressing the next person at my expense. I just dont care who says what, I'm free indeed. This is no pressure lesson. Keep it up girl.
Start saving a set percentage of your monthly income as early as possible. Strive for 10 to 15 percent. Use cash and when you run out, go home and eat at home. It’s healthier. Buy the home you need, not the one you think makes you look successful. Have only one credit card. A car is supposed to be reliable transportation not a status symbol. Good luck.
We're on the younger end of the Boomers - born 1960 and 1963. We've probably saved too much. Forty years ago I thought I needed a BMW and Porche. Never had either. Now I don't want either. Old truck and a little Honda work fine. Modest house, best location. Always buy in the best location, and if in an urban area, be near parks and water. Only buy quality. I think people will be stunned when they see our names on buildings at our Alma Maters. Didn't want that, but they insist.
Hang on a minute, My Hearts Bleeding for You. Not. "Hang on a minute, My Heart's Bleeding for You" is a phrase expressing deep empathy and concern for someone who is suffering or in pain. Let's break down the meaning: Hang on a minute: This part conveys a sense of urgency, asking the person to pause and wait, implying that help or comfort is coming. My Heart's Bleeding for You: This is a figurative expression, not literal. It signifies intense emotional pain and sympathy for another person's suffering. It's as if the speaker's heart is wounded by the other person's pain. Overall, this phrase conveys a strong message of support and compassion, demonstrating a deep connection and willingness to offer help to someone going through a difficult time. Adding "Not" to the end of the phrase completely reverses its meaning. Now, it conveys a sense of sarcasm or callousness towards someone's suffering. It implies that the speaker doesn't care about the other person's pain and is possibly even mocking their distress.
I recall a period in life when I did without a car as a cost savings, and walking in to work through the parking lot, where there were Tesla's, big trucks, etc., and thinking, "I could literally buy any one of these cars brand new with cash." and how amazing it felt - especially knowing that I would NEVER do such a thing.
Trying to keep up with the latest and greatest will keep you stuck and poor, eliminate the need for the newest this and that, be happy with less and save the money instead, great video
Now I’m 42 so I really don’t care so much what people think about how I look. I still feel as much joy driving around in the car my husband and I purchased outright 4 years ago as I did the very day we purchased it. We own 3 modest vehicles with no payments, one our son drives. My most recent iPhone is the first one that I had to purchase bc I always got free phones with two year contract in the past. I’ve had it for a few years and it works just as well as the day I got it. Here’s to not smashing it anytime soon. (My husband literally shut his 6 month old phone in his car door last month 😂.) I love the financial peace of mind we’ve gained and I know how valuable it is, I don’t plan to give it up anytime soon.
Alright! And, I am 47. A question that keeps popping in my head is am I old or there's still time to reach that stage. Lol. I have been very anxious and emotionally very immature all my life. I drive a 2001 car. 😊 Good wishes to you and family.
@@ranjittyagi9354 I think there’s still time to reach that stage. I’d like to believe that 47 isn’t old. ☺️ I should fairly say that having financial peace of mind doesn’t erase all of my concerns or fears. I can and do still feel anxious when facing multiple unknowns or in situations where I feel I cannot help others as much as I would want to help. It is one aspect of maturity but it isn’t the only one and I didn’t always have the financial security I do today. I worked on other aspects of my life and character that were in my control and focused on what I was good at and tried not to worry too much about what I am not good at. Good-luck to you too.
Last week I had to get some emergency welding done on my 6x10 utility trailer. Simple weld job that took 45 minutes. Shop time is usually $120 - $150 an hour (minimum 1 hour charge) + materials / supplies. At the end of the weld job I asked "how much?". He looked at me, eyed me from top to bottom, stopped at my shoes and simply said.... You are a low income that can barely pay for today's lunch. For you, the 1st weld job is "on me....". If wondering, he was wearing cleaner clothes / cleaner shoes and driving a newer age vehicle then me.... For some folks, outer image / outage cleanness does influence.
Keeping up with the Joneses it used to be called. I have always said balls to this and only purchased what I wanted and was important to me and my quality of life. Living a certain way to meet the expectations of others or to want to appear to be keeping pace or exceeding those around you is a sign of personal weakness and lack of character. Be who you are and build your life to satisfy your needs and not to impress others. You are important. I have found that anybody other than a true friend will judge on your social status and not on your human values or personality.
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
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Hi, according to you, what is the percentage needed to be cut/taken from our income when buying a car?
My bank account isn't growing, though I look and talk like a Rich man! So I do performative grief so that people understand I AM actually Poor! What to do?! 😅
I'm a little bit older so it stands to reason I learned this a long time ago. I wasn't aware there was a name for it. And for what it's worth to whomever may read this, I learned to enjoy my desire. To even revel in it. To enjoy the anticipation. As Nischa points out, we no sooner than obtain our desire before we have dismissed whatever it is and are looking forward to our next conquest, as it were. I tell you you can wallow in anticipation. It is exciting. A bad example would be Nischa. She is beautiful. I know I will never meet her. But it is exciting to wonder and desire and fantasize about it. Another example. I would love to have the biggest, gleaming black GMC Sierra Denali that has ever been made. But I know as soon as I bought it it would lose its lustre and I would be eyeballing some huge Suburban.
Like Curly said in City Slickers 2, "you just have to find that one thing".
You don't follow your own advice at all... The only reason for female social media influencers is their looks; less than 1% of them are honest to basic standards of honesty.
I love you reply
I worked 30 years for a fortune 500 firm, was able to retire at 54 and live in a gated community where I can enjoy my remaining years. SAVE MONEY so it is there when it is needed. As someone else said, it can be cool to be a minimalist and poor when young, but it really sucks when you are old. So work for your future self.
I enjoyed my job and didn't view it as "a daily grind." I also had a lot of freedom and flexibility. Retirement for me has been all losses and no gains, I'm afraid. Each withdrawal has only made it difficult for my savings to recover through compounding. It feels like etf's and bonds might just be limiting my returns instead of managing risk
I'm approaching retirement and having a fund manager has been helpful. I started investing later than most, so relying on compound interest from index funds or bonds wasn’t enough for me. Despite that, I’ve managed to do well and am on track to retire with around $6 million
I'm currently reassessing my retirement portfolio and could use some guidance. How can I get in touch with your manager?
I usually avoid making specific recommendations because everyone’s situation is unique. However, my experience with Emily Ava Milligan has been quite positive. You might find it worthwhile to see if her approach fits your needs.
I looked for the name online and found her page. I emailed and made enquiries. Thanks for the help
You don't want to look poor. You don't want to look flashy. Subtle is key.
Yes “looking poor” is not an advantage unless you’re buying a car.
@@halcyondays8945 Or being on vacation...
Agreed
It’s a thumbnail guys
Exactly.
I'm poor so looking poor is the easy part.
LOL
Then try looking rich.
@@josh3221ify thats the trap most fall into.........
😂😂😂
It’s comparison..you are not poor since you have time and access to internet. You just feel you are
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
It's recommended to save at least 20% of your income in a 401k. My adv taught me to estimate how much you should save based on your age and income. I've been with her for years now and her decades of experience in the markets translate to chunks of value in so may ways! She has upscaled my portffolio and even got me reading self help books haha
That's an intriguing outcome. How can I contact your Asset manager?
REBECCA NASSAR DUNNE is her name. She is regarded as a genius in her area and works for Equity Services inc. She’s quite known in her field, look-her up.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I like how this video goes straight to the point. No unnecessary intro
I think as you get a bit older, you realise this and don’t give a shit what people think of you, it’s freeing
women havw allways looked right though me like I am invisible so I dont need to spend money on expensive clothes or drive flashy cars to impress them. I no longer care.
That's why old people like me fart when we want where we want. We don't give a shit... no pun intended.
@@lyndonfring6421 me too, if I feel like some pressure building up I dont hold it back. I just fart, even if it is at a meeting with some of the clients high bosses.
You give less of a shit.
But I don't think absolutely not giving a shit is actually healthy.
Exactly
Money gives you one thing only.... choice.
Choice to take a holiday, Choice to buy a car, or a better one, same for house same for clothes. etc.
I became debt free, 1 years ago. You have no idea how much of an anvil, debt is.
It doesn't buy you love. There is no such thing as a secure job, jobs for life do not exist. Plan for retirement and be debt free before you do retire. Retire as early as you can.
Invest time and effort in yourself, INVEST in your health, INVEST in your WEALTH.
YOU WILL BE CONTENT.
Needed to read this
The general idea is fine but debt can also be tool to build wealth or at least speed it up if you know how and when to use it. (Buy Tesla stock when its down 80% for example)
@@rostyloco1 good thought
Yes 🙌🏻
@@rostyloco1 Why would you need debt to buy stock?
Looking wealthy around family members often breeds jealousy and creates expectations about what special occasion gifts others will receive from you. It also increases the likelihood that you will be asked to host others, pick up the check at restaurants, make loans that won’t be repaid and to bail other family members out even if their misfortune were created through poor decision making. Look modestly presentable at family functions but refrain from appearing like you have a ton of discretionary income. Don’t ask me how I know.
This comment 💯
How do you know ?
@@FilmScape4K I guess from a TH-cam tutorianl.
What about a house though? Even if you look modest, they'll knwo you're well off if you have a nice house.
@@ΒύρωναςΛαδιάς Than have a second home (little apartment, shared flat...) that looks poor, if you have to invite guests.
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
bot
It is a BS law of attraction,
I appreciate your dedication to sharing valuable financial information. By making informed investment decisions, living within our means, and budgeting effectively, we can all work towards financial stability.
Despite my involvement in investing, I am discouraged by my inexperience in evaluating the performance of specific firms and figuring out when to buy stocks. My worries are heightened by the way inflation is depleting my cash reserves. I am not sure what to do at this point, but I need to know the exact market trajectory information.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
That's an intriguing outcome. How can I contact your Asset manager?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Sonya Lee Mitchell” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
When we moved into our home 10 years ago, I painted the quote "Gratitude turns what we have into enough" on the kitchen wall. It's become our family motto. It keeps us humble and focused on what matters most, and when we start to get frustrated with not having "all the nice things" it shifts our focus back to being thankful. If I start to get an itch to want something new, I take something I currently have and give it some care and energy and focus on my gratitude for it, and suddenly that need for the new thing is quieted. It has drastically changed our way of living, and I'm forever grateful for it.
Gratitude turns what we have into enough... It really opened my brains.. Thanks..
Love that!
Great quote and a fantastic approach to life!
You painted words on your wall so you now look poor! Assignment complete
It's not having what you want - it's wanting what you have. ~Sheryl Crow
As we get older, Freedom matters more to us. So jumping on a flight to see family without much care for the price feels awesome.
Yes, money can get you a lot more than just random fashion BS and freedom is one of those things!
you need lot of money to jump on a flight without much care for money :D just kidding.. I agree with your point. Chase freedom, not money.
Does your family feel the same way about seeing you uninvitedly?
@@robant5578 why would you visit uninvited?
@@carlostosado8965 my family visits uninvited all the freakin time
Great video. I'm a millionaire minimalist and gained my wealth by only focusing my money on my business, relationships, and saving and investing. I sold my 6,000 sq foot home and moved into a beautiful small apartment and bought only quality Eco friendly furniture & products. I do this with my wardrobe as well. I have saved so much money with this ethical lifestyle that I can afford to travel anytime I choose and focus on more meaningful experiences rather than material possessions.
My dream life! Just decided recently changing into a minimalist lifestyle.
Thanks for sharing your inspirational story 🙌
Yes, okay, avoiding lifestyle inflation is one thing. But why do people always think it's worth paying so much more money for "experiences"? It's the same nonsense as materialistic consumption. Funnily enough, when enough time has passed, you can no longer remember everything exactly and your brain starts to "interpolate" experiences. Why do you think eyewitnesses are the weakest kind of evidence in court? 😂
Good job.....big house =.big maintenance......big bills
@@clint1285 ugh, it was prison! I feel like I have so much freedom now. You don't need a lot to be happy. I can focus more on my family & friendships now. ✨
I noticed the hedonic treadmill effect when i bought my last car.. I'd always wanted a 370z, finally got one, LOVED it for about 2 years.. then it just sat there getting moss on it, and i didnt care, "its just a car"..
Now, I've sold the car, and cycle everywhere on my 2nd hand bike. My realisation was that
Time = Money
Money = More Things
More Things = Time.
Less Things = More Time
Game changer for me.. I now work 3 or 4 days a week and just find happiness without having to buy stuff.
Nice car though, they still look relevant and modern even thought the design is about 10 years old. Never be another petrol guzzling beast like that, for that sort of money.
We retired last year after working our butts off for 35 years and doing everything we could to appear "poor" even though we are not and never have been wealthy. We have no debt (including no mortgage) and ample monthly income but certainly not wealthy. After driving our Honda for 9 years (258,000 miles) we bought a nice car. We could care less what neighbors think, we smile every time we take a ride and have no buyers remorse! We don't want to look poor and don't believe it's important to look poor! Life is too short not to enjoy the fruits of your hard work.
This is what I hear repeatedly. I've known many millionaires. The vast majority of them are driving their older economy car until the wheels fall off. They may have a fun car, but that is purely for weekends or special occasions.
I'm a 46 yr old from South Africa, I run my own Accounting and Tax Firm....
I work more than an average person does! I'm not going around looking poor and be judged by the very same people I should impress by looking poor. Lol😅😅
I think what she means by "looking poor" is not wearing or owing "designer" label goods.
This is what works for me, there is a balance to be had. I've been driving my current car for 11 years, she's about to crash in the next year. I paid out of pocket for my Master's and certification (increasing my earning potential). My only regret is not investing enough earlier but I can't live in deprivation anymore - I at least need a nice place to live where I can rest, touch grass, and have peace. The other stuff is really not that important to me anymore.
Stop valuing your consumption and start valuing your production. Even if you just cook for yourself, having an exceptional home-cooked meal gives you far more pride and joy than having an exceptional meal out.
Totally
@@jialee140 totally
i agree... my wife doesnt agree. her whole family and upbringing is vastly different than mine... i found out only after getting married... known each other for a few years
to much consumption keeps you poor.
100%
Not getting mugged or screwed over by your social circle is the best part.
I feel bad for people in a position where their social circle is screwing them over... pick better friends maybe
@@SlavaEremenkoit’s not always about choosing better. Ppl need to not be terrible people
Mexican here. If you have a business... you'd feel fearful.
@@mx.chiugo No its totally about better choices, because people are generally terrible and narcissistic, in the modern world.
Know your enemy, know the signs, research narcissistic behaviors and become aware of the universal red-flag behaviors.
WAKE UP!
Live in reality, not wishful-thinking-land "I will put my discrimination on hold while I wait for everyone to become better people"
Um......no.
This resonates with me so much, friends that you think are friends for life really do turn
My rule is I don’t touch money for 60 days when I decide I want to buy something nice (specifically if it’s not something I typically budget for), or when I get a large sum of money. By the end of those 60 days that feeling of excitement and wanting to be a little irresponsible wears off, and I end up never regretting whatever I still want to purchase.
that's good in theory but sometimes that thing would just be too expensive or not available anymore if you wait too long, for example tickets for concerts or vacations.
@@fadi77fadi77 That's a really good example. For something like that, I'd say it's best to save for it in advance.
@KevinOLoughlin-ys5ef Yes! And you feel better about your decision too.
This is crucial. In my two year journey of strict budgeting I have felt that draw of the need to buy. And you’re right, it can take a couple of months to shake the addiction to a product/widget.
I actually think this is brilliant! If it's not available, then it wasn't meant to be.
there's a book called Secret Pathway To Triumph, and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
Who is the author please?
@@van_vinos66 this is why we have google.
@@van_vinos66 probably the person who posted this comment
If something is in a book, it’s not a secret.
Bot
We Indians were taught to be modest by our parents. It is backed by our philosophy to be modest, so many scripture prove that "Being modest is stress free, even if you have wealth". Leading simple life is stress free leads to more wealth... Good analysis backed by case studies..
In my country looking poor is life saving. LITERALLY I’m not joking.
Here if you show that you have any money you get kidnap. That’s something you learned from very young age. I have a good job where I make good money, and that’s because I speak English, but I tell all my friends and family members that I work as a waitress and make not much money. I drive I very old car and dress as a waitress. Black pants white shirt and hair up. The only person that knows the true is my mother, but she’s the one who teach me how to as she’s been doing the same.
Dang, that's crazy. It's not like that in general in my country, but I did grow in some of the roughest parts so I do understand how nice things can paint a target on your back. Your example is very extreme though.
Best of luck, and stay safe out there!
Are you in South America ? what country please ?
which crazyyy country is that?? many cultures are not happy for others success...everyones success or failure is their own responsibility, you have no role there...:))))
Latin America? Because girl, I get it. 🫠
What country? I'm curious.
The two most important things to do for self confidence and presentability are to not be materialistic and to be hygienic. Nothing else makes such a big dent as looking clean and knowing you’re financially secure.
This video is me!!
I've gone from £1,100 a week construction job which I hated, despised and no matter how much I got paid, I was thinking of ways to not to go to work, drinking more than ever before.
To a £620 a week job, that I enjoy, have more free time and I can spend more with my family AND work on my own business more to grow.
I'm alot happier at £620 a week!
At £1,100 a week I was waking up thinking... do I really need to go to work, thinking of ways not to go 😢
My outgoing a month are £1,000 (rounded up) I'm a tight pocket Yorkshireman who lives below his means never with my wage packet!
To everyone who reads this, I wish you all the best on your journey 💙
With sone jobs drinking is part of the culture. It makes alcoholism easy to fall into. It is encouraging to hear of someone achieving financial happiness. I'm living a good life but struggling to stay happy atm.
It’s not about the money. It’s about what you did
@bdkamil95 I think I've worn myself out trying to hustle to be rich at the wrong time. I can live the high life on freewheeling mode atm and I should focus on that until something comes along. I travel Asia and have for the last year. I want to do it permanently and I think I've been a trying to be too hasty with some things. Still though boundaries have been tested and I've made mistakes early without losing out too much. I'll be ready at the right time.
@badkeiser I know what you mean, I've come from a military background (drinking culture) to construction where that is a drinking and a drug culture!
Make a change whilst you can mate!
I was working next to a cemetery, day in day out seeing people get buried and thought stuff that, I aint going in living this life.
I could have stayed on a nice, lovely wage and not be happy.
I chose the other, short term financial sacrifice for long term gain.
Follow your heart mate
@bdkamil95 it really is and where you want to be in life! 😎
This is so true. I walked past a charity stall with $1000 in my wallet and a T-shirt and denim shorts on 10 times with all my bills paid or in advance and didn't get engaged once while struggling mothers in the latest fashion were getting stopped first time explaining that they couldn't help because of expenses with the children, mortgage and bills. We need to shift to seeing people as people and look through the image at the authentic value that is within each of us. Stay blessed.
I had a career as a painter. A commercial painter. As I became more successful I still wore painters pants and a polo. The same thing I expected my employees to wear. By the time I was sixty I decided I should go to a financial planner just to see if my money was put in the right places for retirement. So I make an appointment and go see the guy at lunch. I told him I wanted him to review my investments and see if things were allocated for retirement. He kind of smiled looking across his desk at the old guy dressed in paint clothes. He asked, so how much do you have. I said the total was around six million. He laughed and said, no really. I told him I was serious and laid out the statements from my bank and brokerage account. He looked up and said, I would have never guessed.
I love your story.
Your best video yet! Took me years to understand this and I used to be bitter when my dad never drove a nice car or lived in our own house (always rented until he turned 60). Turns out that his net worth is sufficient to allow him + me to retire in comfort all because of this frugal mindset and only spending it on things like my education!
if you look poor, people start looking down and misbehaving. Looking poor is a bad idea. Look balanced, nothing too gaudy ! But looking outright poor is not the best solution
It’s a great filter
Yeah, but look at her idea of looking poor.
she doesn’t mean unwashed hair and holes in your clothes but don’t stand out.
@@colonel_carlitoyou got it
Looking well put together is a good idea as well, in my country looking poor is not a good choice…
Thank you for sharing this Nischa! I recently quit a high flying corporate job and I can also confirm that there’s nothing as fulfilling as having freedom, without anxiety on how I’m going to pay the bills
What's the plan now though? New job, full time travel, become an entrepreneur??
Love this for you!! Congrats
so how you are paying your bills
"Sometimes, it's not about having a talent, skill, or passion. But what if I told you that with the right investment, you can still achieve your goals? No talent, no skill, no passion, but good investment can bring you financial freedom. Don't underestimate the power of smart financial decisions!!!!!!!!"
I agree with you and I believe that Professionals are currently dominating the market since they have access to both the necessary strategy for making money in this industry.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@face2lune Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial planner. For the record, working with one has been the best for my finances...
@@AllisonSherman657 How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@@face2lune I get guidance from *Susan Tori Davis* ,Most likely the internet should have her basic info..
*Making money is an action. Keeping money is a behavior, but "Growing money is wisdom" I just saw this quote🔥*
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits, such as regularly setting aside money for sound investments.
I made my 10-year-old daughter watch this. Shiny things, and showing off are prevalent, especially among desi families. Great message
What are desi families?
@@missmayflowerDesi is a slang for Indians in America
@@missmayflower “desi” refers to native to Pakistan, indian or Bangladesh. I made this comment in reference to Pakistani families.
as a show-off Italian I find this comment very racist, we Italians can wear gold chains and drive low-end BMWs paid for by our parents' money with the best of them.
@@JackAndTheBeanstalkr LOL
unfortunately, especially in some cultures, visible wealth is something that makes you more likable to other people. you get more opportunities in the work place, people tend to help you more. it's kind of a halo effect for wealth. having a pragmatic approach to luxury items to fit some places and having a strategy can be useful if you want to climb the career ladder or build your own business. it's calculating and cold not everyone is born in affluent circles.
Looking rich is just an invite to get robbed AFAIK.
Yes, in the culture where I am from you have to look rich or you get treated badly. Isn't it interesting how in other cultures this is not the case.
@@QoraxAudio In what country?
@@solidcatink Any country that has cities with a bad neighborhood you happen to stumble upon at some point.
Yes, the key is to not give in to lifestyle inflation. Keep living like you're on a reasonable income, and then the rest liberates you. Give in, and you'll be miserable.
You are so spot on. I agree with you in so many ways. The trouble is, I live this way now, but I learned it the hard way, the school of hard knocks. I lived through it all and felt it all. I learned and changed on my own by learning from experience. I am 68 years old and now live the life that I know is mine. I wish I could start all over with the knowledge I have now. I also wish I had someone like you to say this stuff many years ago. I pray your video touches many out there in the world. It is a much better way to live. No one owns you. It frees you up to be creative and give to others on your own soles path. Thank you for doing this video.
Graciously said 🙏🏾
Totally with you on this Nischa, earn enough to generate a secure future that permits you to express yourself as you really are. I am retired, secure and drive a 15 year old car, that car is a joy, it always can be left anywhere, get scratched, dented, doesnt matter, it is a tool for me to use, it is not a representation of my ego, personality or potential. Well done for guiding people to think this way.
Another big reason is it keeps other people from getting ideas about raising your costs. I rent my apartment. I'm very careful to not let my landlord find out if I went on a vacation or got a new job. Oh you have enough spare money to go on vacation? Here! Lemme raise your rent! You can afford it! Nice house! Nice car! I'm gonna bill you more because you look like you can take it! Vs oh that's an old falling apart bucket of bolts! I can't fleece this guy! Hey thanks for the discount!
Smart! it also applies to home-ownership when that contractor or repair person pulls up and assesses whether you're "one of them" or some rich person that can and should pay more.
Change your landlord! Don't do business with such people.
people that are rich don't get rolled over by landlords and car salesman.
just tip your landlord ffs
@@MohitAtrayyou don’t know how the landlording business works do you
Work a job you like. Be very frugal, save money, be a minimalist basically. I still have a Iphone 7. I didn't upgrade my iphone to the newest one. All I did was replace the battery in it. That costs me like $100 after 5 years. I still have a CRT tv, then things like electronics that I buy I usually keep that for 10 + years for Longevity.
I'm pretty much into video gaming. 1 thing I did that I did now was quit modern gaming. So that's saving me like $1000 or more per year now just for the fact I am not buying a PS5. That money that I am saving will go to TV Series on blu ray or blu ray movies.
I used to drive a Mercedes everyday and it was never about looking flashy (was a gift to myself and something I'd wanted for a while), but that's always how other people saw it. It cost me a fortune in maintenance (over £12k) despite being a good used example. I now drive a beat up Ford Focus. No one bats an eye at it and it's so much more enjoyable to drive, less worry, and most importantly costs me nothing to run. The £500 bill I had on it a few weeks ago was pricey but deferred maintenance from last year. Live cheap and take that money to something more worthwhile and most importantly memorable!
Truee
I drive a beautiful shade of red 2018 Mazda 6 but a Mercedes has always been a dream car (that I’ll most likely never buy for the reasons you listed.)
My husband has a mercedes and i have a hyundai but his favourite car is his Toyota Cressida that he brought from is uncle before he died. I asked him why he loves that car so much he told me because is reliable and easier to maintain. Simple things like the globe for hyundai costs10x and you more than Toyota and you can only get it from hyundai, so i was shocked that she compared hyundai with Toyota and honda. I personally prefer my Toyota camry that I had before, i regret getting a hyundai
I learned this in college 15 years ago in Micro-economics. People who win the lottery return to their baseline level of happiness, and after a certain income level (there is a minimum threshold) your happiness stays the same at any income or level of wealth. Since then, I have thought, we're no better off than cavemen. When people say they're glad they live in the 21st century with cars and all the technological progression, they think they're better off, but it's an illusion. Cavemen didn't know any better, even if their quality of life was much lower, their happiness was likely the same as today 🤣
The decreasing marginal utility of consumption :) After a certain level, there is no more benefit. But I do think that getting out of the situation where you were always basically one bad harvest away from starvation (which is how the vast majority of humanity lived until the 20th century) has increased happiness. So did not having to watch half (or more) of your children die in infancy. Cars and smartphones probably not so much.
try pulling a tooth without anesthesia and you'll realize you are way better off than people living just a couple of centuries ago.
Caveman just bungabunga woman without asking. Pretty happy! Just kidding
My mantra on money is what I call the three Fs of finance - Fun money, Future money and FU money. Have money in those three buckets and it makes life a lot more enjoyable.
A person is supposed to enjoy their life.
Do what makes you happy (as long as you aren't harming), if you are buying things to "keep with the Jones' & no bc it's something you love.
There is a deeper issue or trauma.. a need to be liked or accepted.
I buy things that I love, but I don't depend on anything outside of me for joy.
You have to think for yourself & live fir yourself.
This is your life, Don't wasting your time trying to please or impress orher people.
Just do you!
This is an eye opener video and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $90,000 per annum but nothing to show for it.
The 5 percent fixed incomes are a safe bet. Save your cash for when the market actually shows sign of recovery or better still seek professional help.
@@hullbruce Speaking from personal experience, I would say engage professional guidance. Not sure where you get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.
@@Jaymilnere This wouldn't be the first time i am getting the suggestions to use one, but finding a decent one has been challenging. Do you mind leaving some recommendations?
@@Higuannn I'm not one to give recommendations but The likes of Sharon Crump Cline does a good Job. I've been working with her for years. All the info. you need to set up an appointment is on her web page.
@@Jaymilnere Thank you for this pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a calI session with her.
Nischa has changed my financial pov for ever, in 3mnths I’ve got rid of c card debt, have savings and investments, and I’m happy with :
My old car (it’s great and debt free)
My old iPhone (it’s an SE and works for me and is debt free)
My holiday is modest, but is PAID FOR, without any debt…
Thx Nischa… we are now clearing the shed/garage/loft selling things to put towards Xmas.
Thank you for summarizing what I discovered in my twenties. I'm 63 now and this philosophy has served me well.
Very few woman reach this level of success with out showing skin.
She is ver sober and that reflects her wealth, success consistency and talent
I have a different take on that topic. Only poor people should look poor for obvious reasons. But once your bank account is sorted, you can look whatever way you like. I've personally made it financially in life. Why should I continue looking as if I still haven't made it? I worked so hard so I could afford better things and live a happier life. Outward appearance makes me feel good even if no one sees me. I'm doing it for me.
Well, her advice is obviously targeted to the people who haven't made it financially yet spent too much for the sake of outside validation.
Your take is not a different one. Your take is for a different topic.
So, just what is poor? Or, rich for that matter?
Agreed!! You earned it enjoy it.. rich people might look simple but that shirt , simple trousers the watch, the car are anything but cheap.. poor people wear flash. Wealthy wear expensive stuff. You can look good for less and don’t have to come across as rich but certainly not poor
I needed to hear this. I traded in a nice Chevy Silverado for a Honda Accord two years ago to save on gas, insurance and to lower my monthly payment. Now I’m caught up with my finances and I’ve been looking to buy a new truck that I don’t need. Definitely keeping my Honda for a while.
Classic Cars give great pleasure and don't generally devalue.
Honda Accord for the win!!
The key to what you said is that you don't need it. Ask yourself if you don't need it why bother. Try and get something that makes you happy and that you need more than the Chevy Silverado, example, keeps its resale value, low maintenance cost and cheap to run. The Honda Accord probably ticks most of these boxes as would a Toyota.
@@trythis2821 Wanting something that means something, such as a classic car, is not only a financial investment, but good for the soul.
Driving quality old cars is one of the keys to wealth.
Very true. The wealthiest folk i know who have true wealth you wouldnt know. Theyre silent quiet winners, a beautiful way to be.
That sums me up🎉
The title of this video is quite misleading. The content deals with how authenticity and simplicity outweighs materialism, but nowhere does it mention why looking "poor" is important.
Secret to success: be beautiful, make TH-cam videos about anything
Ain’t that the truth.
7:41 "Money talks. Wealth whispers."
Debt shouts.
Yeah those billionaires and their super yachts are so stealthy and subtle /s
The Medici had the same policy. They stood out of the public eye and only came to the government when invited, thereby angering no one no matter how rich they got, in fact they became so rich that hiding their lives was no longer possible. They then became the greatest force in the Florentine republic and started the process that built the modern western world: the Renaissance.
Of course, they had some help from their hooded friend 😂 But yeah, I get what you're saying
This sounds really interesting!
@@jordirolink8254 Ezio Auditori da Firenze?
Interesting. People who wish to make serious, long term money live a low profile.
No, the Black Plague started the process of The Renaissance
Someone would never see how much money i have. Understatement. Doing good in silence. This is the way. What is more valuable than money are people you love and good experiences.
This is the way!
Same ! Doing in silence !
Looking poor is important for internal happiness. However definitely not for how you show up if you are an entrepreneur.
99.9% of prospects, businesses, investors will write you off and will pay zero attention to anything you have or have to say if you look poor when you show up. Appearance matters in business world and to people that do not yet know us personally, either we want admit, believe or accept it or not. It is simply a fact of life that is unlikely to change. Any other time, I totally agree that looking poor and living within and below our means is very important.
This is the lesson I've come to learn the hard way as I transitioned from almost 2 decades of being an employee to becoming an entrepreneur that meets and interacts with hundred of strangers weekly.
It's incredible how your looks matter at any age
In mature years after you retired, I believe it's the time to enjoy your money
If I want a good perfume, for example, I will get it,
who knows how much time I have left
Everyone is different
The older I get (Currently 55) the less I find myself "upgrading" my things. I've found what I love, and kind of stay there until what I have breaks, doesn't do the job anymore, or isn't supported. I purchased my first new phone in 5 years because my old one wasn't getting security updates anymore. My newest car is a 2005 (and I love it), and my house is less than half the size of my old house (and SO much easier to clean and keep up even though it was built in 1909).. Good information, I hope my kids can learn thee lessons sooner than later.
I chose to get off this treadmill eighteen years ago and my personal experience over the years has been simply awesome..while people around me are extremely successful and have the extraordinary pressure to showoff i havent had any such pressure and i simply used that to my advantage..i dont own a house,i use public transport,i dont have this constant nagging from peers and family and frankly it has helped my mental as well as physical health..but i can understand that its not everyones cup of tea.
At first, the growth of the businesses is all that matters to us, and while many growth firms claim to be growth companies, in reality, they are non-growth companies, there are plenty of growth companies that are not expanding.
what I expect for the remainder of this week is most likely just some choppy sideways price action potentially a very slight bullish relief here
here is an example of the importance of a financial broker people like *Leah* *Foster* *Alderman* and co.
she went on to manage my portfolio i become a stakeholder which comes with a cost of only about 1.5 million at this point in time dream lined efficiency
to take $25 worth of credit from another lender let's say you got little Bobby over here who's willing to have him collateralize his debt and then issue him another $25 off of that well you just took money that was borrowed and you were able to leverage that borrowed asset for more capital
anything here that would be noteworthy in terms of bullish price action
I keep my looks clean, simple and focus on being humble. Knowledge is something that’s on the inside and it shows on your face. People sometimes judge by the external looks and don’t make efforts to know a person by sitting down and talking to them.
So true
Years ago I read the book "The Millionaire Next Door"....I learned to implements this concept early on and ever since I have lived well below my means, started investing, only purchase what I NEED, not want, and living simply! Also, I learned frugality from my parents who barely had 2 pennies to rub together but they made it work. I'm in my mid 50's with a family and we are free of debt!! I'm sure my friends and family wonder how we make it and this is why I don't show off my wealth!! LOL...let them guess!! It is truly liberating!
I'm from Denmark, so happiness is given. This is my happiness hack:
I focus every day on my priority list:
1: Freedom
2: Making money with money
3: Spirituality
4: Making music
5: Serving humanity
Why look rich, when it will only attract superficial relationships and scammers.
It's also easier to make more money, when I keep my expenses low.
Interesting that you should make this video.
I was telling someone, recently, that I have met more millionaires in ripped up jeans and well-worn t-shirts, than any sort of designer clothes.
And, the majority of people, who I have met, who seem to be slaves to fashion, putting their labels or logos, ostentatiously on display, they've usually been living beyond their means.
Some people have different hierarchies of what they value, and, even those who have similar, or, the same, have different reasons.
Thanks for what you do.
Who cares about what car your friend drives? It’s a joy of having a beautiful vehicle that you enjoy every time you get into it.
@@Travis12861 Tell that to the average petrol head haha
@@Travis12861you can have both.
@@RealAnthonyJones Real talk
There's an annual beer festival event each year in town. My drinking buddies always ask me if my wife will drive the delinquents home, they really enjoy the luxury ride, and it's become an annual tradition. We all have a blast about it, including my wife who happily volunteers, she thinks it's the funniest thing ever. Having a wealthy friend is just more fun to them. They will always buy me drinks, and I have a real hard time paying for a round, they will say "No need to pay for the round, we just want the ride home!!!". Be your old self as before, and most likely no one will care.
Is it a joy? I had colleagues who drove €100.000+ cars and after half a year the newness faded and they were already daydreaming about the next one. Are you really happier when sitting in traffic in a beautiful car vs a regular one? Is it worth foregoing the extra money in your portfolio and/or working less hours per week?
What's with these look poor advises from youtubers? There's a difference between "looking poor" and not flaunting wealth.
one phrase has two words and the other has three words
What they meant is actually "not flaunting wealth".
But you know, "looking poor" sounds like a title that will attract more views. It is more intriguing.
You're not supposed take titles too literally to begin with.
They are just trend hopping like typical opportunists without individual ideas. Last year they all talked about the 'old money aesthetic' and 'silent luxury'. It's laughable.
Suddenly, TH-cam is full of videos about the importance of looking poor. No, it's not important.
I love your message because it's basically about consumerism and how big corporations are selling a lifestyle or look and it plays on emotions and prevents people from saving their money. That guy from NYU is talking about this exact point where saving money is the new happiness and the true wealth. A great documentary is The Corporation from 2003. Noam Chomsky is in it and it speaks to many truths about how selling and consumerism had gone haywire.
Retired boomer here. The one most important piece of advice I give young people is to aquire a home, no matter how humble. If you're poor, start at the bottom with a small condo, maybe with some age, maybe in a neighborhood that doesn't thrill you. Just get started. Pay down your mortgage as much as you can, and keep looking to trade up. After you have reached a point where you like the home you now have, focus on paying it off. In order to retire on a modest income from SS or pension, you need to be mortgage free. I never made a ton of money, but this strategy enabled me to retire in relative comfort and worry free.
Spot on! It’s all about freedom. In my highest paid job I was earning more than enough to give my family a great living standard but always wanting the next promotion, pay rise and each time I got it there was more stress and time spent at work. Now semi retired self employed and barely earn £10 a hour, it’s the best job I’ve ever had because I able to choose when to work. I’m fortunate to be in this position because I saved and invested when I was well paid and that affords me the freedom to work or not as it covers all my essential bills
your message resonates with me... freedom is key to true happiness. Freedom of time, space and money(once one can successfully escape being a slave) Nischa, your inner and outer beauty is ineffable🌸
Having F U money is key , it gives you options you don’t even realize exist , it allows you to turn down jobs that don’t meet your pay expectations and it gives you freedom and confidence in what you do moving forward …
What f u money??
@@MrDonny27 It is having so much financial independence, that you can say F U to everyone, and still have that money.
You should be turning down jobs that don’t pay well regardless of your financial status. Unless you’re desperate for a job and will pick anything, you should always be strategic in managing your career.
I can 100% relate to this. Once you have built up your security and emergency funds, you can finally start thinking more rationally. I quit my job, went traveling, and found a better job that paid me 75% more just three months later.
I was miserable in my old job, so the F U money gave me the freedom to take on more risk.
Having a financial cushion to fall back on is essential.
"luxury" goods are marked up 1000% to 2000% over cost. You are not paying for quality, you are paying for billion dollar ad campaigns and very expensive boutique shops.
Great, you figured out the futility of consumerism! That is a great start of a long journey to understanding how the world works.
You can never remain successful if you don’t remain humble.
Humble is one thing, poor is different game.
Agreed. Stay Humble. Stay Stoic.
I’m using an iPhone 8…in 2024. I WANT the latest but 8 does everything I need.
I’m planning to upgrade soon; but, the point is I will upgrade when needed
I wear flannel shirts and jeans with holes in them and missing buttons. My shoes get worn way beyond when normal people replace them, and I drive an Ex U-Haul pickup truck with light hail damage that I paid cash for. My only debt is my mortgage on my small house of 2.7%, which is about $650 a month. I could pay it off, but I don't because I make more in investments on that money. I have more than I could possibly use. Once I realized that nothing I buy makes me any happier, I started investing, ha! I'm most happy when I use what I already have, clean and organize, or go do something fun. The less I owe to society, the more freedom I have and the more I can give.
Goals!
I wish I had this mental strength. I’m trying.
Brilliant!
I don't really care much about dressing up myself jeans, t shirt/cotton shirt with sandals. I took a home loan and paid the last installment when I turned 37 years. I'm now saving money for retirement cos i know relying of government pension when I turn 60 isn't gonna be enough for electricity bill so I need to Save up now, the state of elderly in global north country's is depressing, I really don't want to end up homeless or on streets in old age. I also have a fixed saving account that are earning interest every month figured it might be better to save money that way instead of under a mattress😂
@@elainelindsey1306 Paid off at 37 is impressive. Congrats! You've got 50% more time than me. I'm 47. Retirement hits at 67 for me. Hopefully earlier, but we'll see how the market goes.
This is spot on. The lifestyle creep was the most challenging part for me to overcome.
I started asking myself these questions before any big purchase (>$1K)
Does it improve time with my family?
Does it help me improve my health?
Will it improve my financial situation?
If it's a yes to any of the questions, then I will consider it. 2 of three, I will highly consider it. 3 of 3 is almost a certain buy.
Not necessarily looking poor. Meaning you can have nice clothes but not flaunt the brand. You can find things that fit you well, be in great shape, etc. Even eating high quality food isn’t going to break your budget, so long as you aren’t too lazy to prepare things for yourself.
For sure having priorities in order is the game changer. The person who has their mortgage paid off may still have an old iPhone 6 still LOL. But the house being paid in full is more important than keeping track of what iPhone model they have.
I say all the time that having debt isn’t sexy. The real flex is having a paid off house/car and the ability to retire.
"Looking poor" is just another way to say frugal. I've found it's the only way for normal people to generate wealth. And the lack of it prevents most high income earners from becoming truly wealthy.
The first reason would be to keep people away from trying to take advantages from you. If you are wealthy and/or even worse famous, the chances are people will come to you and asking for money. They could be friends, partners or family members. It is tiresome and you will make a lot of enemy. If you gave/borrowed them the money, they will distance themselves from you, because they dont want to be asked about the loan. Alternatively If you dont give them the money in the first place, they will dislike/hate you, because they see you as an unreliable friend. Either way you will lose friends and gain enemy, if you dont keep it quite. Hence keep it quite for yourself.
indeed
Over the years i realized it's better to create memories, have a quality time than clothes, invest in yourself mentally, spiritually...
A lot of ppl selling a bunch of things over the internet, social media, when you work a lot of time you don't have time to enjoy your freedom, or spend on your growth so what you do is you making others rich by buying their product for short term happiness. Start cooking at home instead of doordash, uber eats, cooking makes you happy, work out, take a walk, go to a concert, read books, have a hobby, wander, etc
borlest forbidden money books (thank me later)
thank you, Just checking it out.
Thank you and your army of a thousand bots!
hi sweetheart, I'm not a bot
You'll also live longer on average. Achieve enough financial security and then focus on lowering your anxiety and stress. You'll be happier and be around longer. However, it is one thing to not spend money on new cars and designer clothes, all the other common trappings of wealth appearance, but the harder nut to crack is *where* we live. Even living modestly can be a huge financial drain in an expensive city if your (quite reasonable) baseline is a clean and safe area of the city.
It's better to live in a "not safe" area of the city. It's policed better and thieves are less likely to target you ('don't sh/t where you eat')
Congratulations on 1 Million Subscribers. You worked hard and deserve it. Enjoy the TH-cam benefits!!!
I also got married thinking I will be happy but now am going through hell!!
Sorry to hear that, hopefully things start to look up soon
Marriage is the biggest con a person can get into. It is an emotional decision which can destroy one's wealth in an instant
Been there done that. Hopefully you will find happiness in your future.
Sometimes it's better to rent than to buy.
What's going on why you're going through hell?
I was lucky enough to receive good advice when young and poor: "If you're ever wealthy and/or make a lot of money, don't tell anyone." Now that I'm old(er) and wealthy, my experience has been that if someone finds out you're wealthy, their reaction is one of two (not mutually exclusive) types: 1. They want some of your money. 2. They think: "I'm smarter/work harder/am a better person, etc. than him! How'd that schmuck get so rich???" No one -- not even your own mother -- will think (much less tell you) that you're great and deserve every penny you've got.
We should not aim to look poor we should just aim to to get more for less. I remember, once, my boss ( a lady) told me, "Lucky you, you can buy a cheap new car without caring what other people think". I felt a bit insulted. It's not like I do not care what other people think, I just do not want to pay to make others feel different about me.
I just had to watch this video, because I was intrigued by the title. Since last year, I've spent over £5,000, mainly on high quality handbags, shoes, and other frivolous material things. Unfortunately, I live in a poor area, and when I step out carrying one of my expensive handbags, I feel like I'm making an ostentatious display. The thing is I've worked exceptionally hard, running my business for 7 years, and felt it was time I treated myself. Some people love high quality things, but it doesn't mean that they are pretentious. I don't drink alcohol, overeat, smoke, or indulge in the usual vices, but my handbag collection gives me immense pleasure.
Agreed. I truly don't get what's wrong with getting nice things for yourself if you enjoy them. I'm not talking about accumulating but quality objects that you are going to use regularly or some for special occasions. I love my job and besides mortgage I'm debt free, so why would I stop myself from driving a Mercedes if I love it? So you go and enjoy your handbag collection, there is absolutely nothing wrong with it.
@@MG-rw2sk Thanks so much for being understanding. Life is too short, and it's important to enjoy it.
I agree, a lot of financial TH-cam vids are like that. A lot of shallow assumptions are made of others. You do you, and if someone wants to judge you for it, then they are clueless, narrow minded, and I would dare say pretentious for assuming things about another person they do not know. Who cares? Just don't get robbed. lol.
Great video. However.. I agree with other comments saying that the concept "looking poor" is ignorant of the reality of actual poverty. This trend, is more a case of rich people using terms they don't know in a careless way. Not looking "flashy" might be a better way of phrasing this.
Exactly!
It’s like rich folks saying that living a minimalist lifestyle is a great way to build wealth… as if people who are poor actually have a choice. The advice sounds good, but it’s actually ignorant of many people’s lived realities
I used to want a nice car, but I've decided that the best car you can have is a Honda Civic or Toyota Camry - an affordable car that is very reliable and fuel efficient. It will always get you there. It doesn't stand out so is less likely to be targeted by criminals. Better still if the car is beaten up and dented - that way everyone knows to get out of your way on the road, because you don't have much to lose. I'd rather be rich than look rich. This girl makes sense.
I still drive the Toyota I bought 25 years ago and I will continue to do so until the wheels fall off :). I have not had a car payment in 20 years, and I love it!
yes toyota camry so powerful enough to travel far i swear.
At my age, I take what you have just said seriously. I've been there, where there's unending competition with so much debts at times. Now I have since gained knowledge on being myself, not pleasing or impressing the next person at my expense. I just dont care who says what, I'm free indeed. This is no pressure lesson. Keep it up girl.
Start saving a set percentage of your monthly income as early as possible. Strive for 10 to 15 percent. Use cash and when you run out, go home and eat at home. It’s healthier. Buy the home you need, not the one you think makes you look successful. Have only one credit card. A car is supposed to be reliable transportation not a status symbol. Good luck.
We're on the younger end of the Boomers - born 1960 and 1963. We've probably saved too much. Forty years ago I thought I needed a BMW and Porche. Never had either. Now I don't want either. Old truck and a little Honda work fine. Modest house, best location. Always buy in the best location, and if in an urban area, be near parks and water. Only buy quality. I think people will be stunned when they see our names on buildings at our Alma Maters. Didn't want that, but they insist.
The title is misleading -- this is the usual cookbook for living within one's means and being careful with money
Wisdom is universal and needs to be repeated regularly for us to remember. Well done 👏
Hang on a minute, My Hearts Bleeding for You. Not. "Hang on a minute, My Heart's Bleeding for You" is a phrase expressing deep empathy and concern for someone who is suffering or in pain.
Let's break down the meaning:
Hang on a minute: This part conveys a sense of urgency, asking the person to pause and wait, implying that help or comfort is coming.
My Heart's Bleeding for You: This is a figurative expression, not literal. It signifies intense emotional pain and sympathy for another person's suffering. It's as if the speaker's heart is wounded by the other person's pain.
Overall, this phrase conveys a strong message of support and compassion, demonstrating a deep connection and willingness to offer help to someone going through a difficult time. Adding "Not" to the end of the phrase completely reverses its meaning. Now, it conveys a sense of sarcasm or callousness towards someone's suffering. It implies that the speaker doesn't care about the other person's pain and is possibly even mocking their distress.
I recall a period in life when I did without a car as a cost savings, and walking in to work through the parking lot, where there were Tesla's, big trucks, etc., and thinking, "I could literally buy any one of these cars brand new with cash." and how amazing it felt - especially knowing that I would NEVER do such a thing.
Trying to keep up with the latest and greatest will keep you stuck and poor, eliminate the need for the newest this and that, be happy with less and save the money instead, great video
Now I’m 42 so I really don’t care so much what people think about how I look. I still feel as much joy driving around in the car my husband and I purchased outright 4 years ago as I did the very day we purchased it. We own 3 modest vehicles with no payments, one our son drives. My most recent iPhone is the first one that I had to purchase bc I always got free phones with two year contract in the past. I’ve had it for a few years and it works just as well as the day I got it. Here’s to not smashing it anytime soon. (My husband literally shut his 6 month old phone in his car door last month 😂.) I love the financial peace of mind we’ve gained and I know how valuable it is, I don’t plan to give it up anytime soon.
Alright! And, I am 47. A question that keeps popping in my head is am I old or there's still time to reach that stage. Lol. I have been very anxious and emotionally very immature all my life. I drive a 2001 car. 😊 Good wishes to you and family.
@@ranjittyagi9354 I think there’s still time to reach that stage. I’d like to believe that 47 isn’t old. ☺️ I should fairly say that having financial peace of mind doesn’t erase all of my concerns or fears. I can and do still feel anxious when facing multiple unknowns or in situations where I feel I cannot help others as much as I would want to help. It is one aspect of maturity but it isn’t the only one and I didn’t always have the financial security I do today. I worked on other aspects of my life and character that were in my control and focused on what I was good at and tried not to worry too much about what I am not good at. Good-luck to you too.
Somehow I just don't get the vibe that Nischa runs around rockin Wal-Mart swag and using an iPhone5 to "look poor" 😄
Last week I had to get some emergency welding done on my 6x10 utility trailer. Simple weld job that took 45 minutes. Shop time is usually $120 - $150 an hour (minimum 1 hour charge) + materials / supplies. At the end of the weld job I asked "how much?". He looked at me, eyed me from top to bottom, stopped at my shoes and simply said.... You are a low income that can barely pay for today's lunch. For you, the 1st weld job is "on me....". If wondering, he was wearing cleaner clothes / cleaner shoes and driving a newer age vehicle then me.... For some folks, outer image / outage cleanness does influence.
Keeping up with the Joneses it used to be called. I have always said balls to this and only purchased what I wanted and was important to me and my quality of life. Living a certain way to meet the expectations of others or to want to appear to be keeping pace or exceeding those around you is a sign of personal weakness and lack of character. Be who you are and build your life to satisfy your needs and not to impress others. You are important. I have found that anybody other than a true friend will judge on your social status and not on your human values or personality.