Poor people treasure their things.alfaspider wrote: ↑Mon Nov 12, 2018 4:59 pmMagazines were my gateway drug on the automotive front. TV didn't factor. Without fun cars, what's the point of being richVictoriaF wrote: ↑Mon Nov 12, 2018 4:20 pmVictoria's Secrets of becoming rich:
1. Select a peer group of people you want to resemble. I bet many Bogleheads became more wealthy and more successful after they have joined the Forum.
2. Be always learning. Pursue advanced degrees, professional certifications, and marketable skills. Do NOT follow your passion; read Cal Newport's books So Good They Can't Ignore You and Deep Work.
3. Get rid of a TV, and you will rid yourself of spurious expenses such as large houses, remodeling, luxury travel, fun cars, and prestigious watches.
Which leads me to another point: while LBYM is obviously the key, few people have the constitution to be happy living a life of constant deprivation. It's ok to find something you enjoy that occasionally costs money. However, the key is doing so in a way that continues to allow you to live below your means. If you like cars, don't go out and buy a brand new BMW- buy an old Miata for less than a set of tires for the BMW- you'll have just as much fun if you learn how to drive it properly. There's always a new shiny, but building skills and friends while having unforgettable experiences lasts a lot longer than the thrill of something new.
Rich people treasure their time.
This thread is about rich people.