Becoming wealthy is a matter of values; whether you value looking rich over actually being rich. With most people it’s the former.
It’s much easier and quicker to look wealthy than to actually become wealthy. All you need to do is spend a £100 on a nice suit, procure a snidey Rolex and get a £15,000 car on finance at £300 pm repayments, and hey presto, to all who see you, you’ve become wealthy overnight.
Of course to those who know you, you’ll just be recognised as the fraud you are, so you need to go to some posh joint and sit with the beautiful people (or ‘other frauds’ as I prefer to call them).
Ironically though, for all your trappings of wealth, you’ve actually become poorer as a result of your deception. You’ve less money in your bank account, and those car payments each month are killing you.
But imagine what you could achieve if instead of spending that money to look wealthy, you invested it to become wealthy. I read a statistic this week in the Telegraph, that stated during the 2016/17 tax year, the FTSE All Share index with dividends reinvested grew at 22%. Now, when you’re investing money at 22% interest, you don’t have to invest an awful lot to become wealthy – but it does take time. And if you are patient enough, then you can become wealthy. Pretty much guaranteed.
To me, the cost of looking rich is just too high a price to pay, and reduces dramatically your chances of ever becoming rich.
Don’t be Stupid. Don’t be normal.