Why Most Millionaires Appear Broke (And How They Spend)

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Practical Wisdom - Interesting Ideas

Ай бұрын

Have you noticed all the millionaires that surround you every single day? Chances are you haven’t because many millionaires don't appear wealthy at all. They may actually appear broke intentionally. So, instead of wearing designer suits, fancy dresses and high-end shoes, cruising around in luxury cars, they look the same as people like you and me. If you’ve believed up until this point that millionaires spend freely and without consideration you'd be surprised to see how they actually spend their money and what percentage of their income is allocated to expenses that you and I both have. In fact, most people would really benefit from adopting many of the spending habits I’m about to share to make sure to watch until the end so you don’t miss even a single one.
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DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.

Пікірлер: 17

@pensacola321 Ай бұрын

Well there are millionaires, and then again there are millionaires.😊🤑

@bradgingrich4505 Ай бұрын

Me and my wife are high school educated retirees in our early 60s, we have a 3million dollar networth . We've been safer investors for the last 40 years.....we're the anonymous millionaires next door.

@jillgoycochea5127 Ай бұрын

Will you teach me

@SpamMouse 27 күн бұрын

My wife and I....

@brbhave2p00p4 Ай бұрын

I can’t blame them. Even tho you, as an successful wealthy individual, might have good intentions - the majority of mediocre people simply doesn’t. I remember being in high school, the 1st or 2nd year. The moment my classmate found out about my parents owning the biggest business in our city (I used to be naive back in the day, I revealed it straight out - my stupidity) he started to treat me differently - in a bad way. I have never had my nose and ego up in the air. I have always been a humble person, the majority of people can’t see the amount of hard and dedicated work you put in before the success starts to shine. By the time I was 18 and took my driver’s license - I was driving a BMW worth around 35k dollars to high school everyday. NEVER reveal stuff people in your inner circle shouldn’t know. It doesn’t have to be money, could be: dating, change of location, school, activity, etc. Anything of overachievment and/or anything, could be used against you. When people don’t know, they don’t know what to attack.

@jenethdsouza Ай бұрын

True! Personal experience... Trying to look poor 😂😂😂

@hk5454 Ай бұрын

very helpful, good breakdown in % of take home pay, and mind you, if 25% allocated to housing won't cut it, then maybe setting a plan on how to increase your income over the next 3 years might help bring in that extra cash, we should also aim to be increasing our incomes as we grow and mature, and grow in skills and expertise we can offer to the market place and in serving others

@doggydogdaily 23 күн бұрын

1)Housing. 2)Food & Home Stuff. 3)Cars. 4)Clothing. 5)Vacations. 6)Entertainment.

@truthteller6743 Ай бұрын

I’m up to a 45% savings rate. Started at 10%. Always increases every year.

@GG_AJfan Ай бұрын

I think you should've defined what a millionaire means to you, the way I hear you talk it sounds like you're talking about regular middle class person, rich people would never spend 5% of their monthly income in transportation for example because that percentage is a high amount of money, it won't be 5 or 10k because that's not a millionaire.

@V.stones Ай бұрын

Interesting! If i had that capital, i would have some flexibility. I would consider diversifying across different asset classes.

@s2oop436 29 күн бұрын

housing is different per countries. in poor countries like philippines, it is much better to rent or live in a more secured location even you pay more than unsecured one where you may die anytime of the day