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The pseudo-affluent: If you look rich, you probably aren't

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The pseudo-affluent: If you look rich, you probably aren't
Do millionaires really drive exotic cars and wear rolexes? You might be surprised how the wealthy actually present themselves.

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The wealthy

The wealthy

Most rich people do not flaunt their wealth: They don't live in high-class neighborhoods or drive expensive cars. They look like you and me.

The rich have a net worth of above $1 millio...

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The pseudo-affluent

They buy things that convey success. They want you to know just how much stuff they have by showing off their success.

The pseudo-affluent feel insecure about how they comp...

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Characteristics of the pseudo-affluent

The pseudo-affluent generally:

  • They earn a high-income, but spend the majority of what they make.
  • Wear expensive suits or carry expensive purses.
  • Drive high-end l...

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The secretly wealthy

Your neighbor might be secretly wealthy if:

  • They have an above-average understanding of finances: They may not be concerned about the looming recession, but calmly t...

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You might be affluent if:

  • You pay yourself first. You fund your retirement accounts before you pay anyone else.
  • You live in a reasonably-sized house.
  • You ...

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SIMILAR ARTICLES & IDEAS:

The Definition of Rich

The Definition of Rich

A high income and a regular acquisition of expensive stuff do not necessarily make people rich. People may have a high income, but many won’t survive three months if they are suddenly without their...

Wealthy People and Pseudo Affluence

Wealthy people have sustainable access to money, often for a very long period of time. Their habits are now aligned with the wealth that they have incurred.

Pseudo affluence, on the other hand, is what people experience when they are currently earning lots of money and start to believe that they are rich. They pay for their expensive lifestyle with a high amount of borrowed money and are just a job-loss away from being poor again.

Object Poor

... is a ‘state of excess’ when the stuff we own makes us poor, as the debt we incur has trapped us to keep working our jobs to fund the expensive lifestyle and habits.

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Characteristics Of The Wealthy

  • They live in homes just large enough for their needs and drive used cars.
  • They have affordable interests.
  • They don’t worry about having the highest credit scor...

Rich And Wealthy

By making wealth your priority now, you could be both later. Establish a strong financial foundation that will give you financial security and peace of mind moving forward. 

Living paycheck to paycheck is a guaranteed way not to build wealth.

If you’re just starting on your personal finance journey, it might not be time for you to start acquiring these assets yet.

How To Become Wealthy

  • Investing in stocks is simple if you avoid lucky stock picking. Keeping long-term perspective, invest early, especially in low-cost index funds.
  • Rental properties.
  • Small business ownership.
  • Delaying gratifications.

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Frugality

Frugality means resisting the temptation to spend more than you earn.

Discipline

Self-made millionaires choose moderation over extremes. They often buy used cars, don't live in the most expensive houses and don't try to time the investment market.

Hard Work

A defining characteristic of many millionaires are their willingness to work hard and stick it out in high-paying careers until they are financially independent.

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