Financial independence - Deepstash

deepstash

Beta

deepstash

Beta

How to avoid lifestyle creep when you're surrounded by rich people

Financial independence

Financial independence means freedom from money as an all-consuming, ruling force in our lives. It's about not letting money steer how, where, and why we live.

Ask yourself what would make you happy.

101 SAVES


EXPLORE MORE AROUND THESE TOPICS:

SIMILAR ARTICLES & IDEAS:

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.
Subtraction for addition

Minimalism is not about what you own. It’s about reducing the things in your life that aren’t providing value, so you can have more space for the things that truly matter.

Minimalism as a form of mindfulness

Minimalist could be about silencing the noise of an increasingly loud world, about calming the millions of thoughts that flow through my monkey mind and giving yourself permission to slow down and take a breath.

"Rich Dad, Poor Dad" is Fiction

John T. Reed, a real estate investor, looked into the accuracy of Kiyosaki's best-selling book and found it inaccurate:

  • The Rich Dad is most likely an invention. ...
"Rich Dad, Poor Dad" contains dangerous advice

According to John T. Reed the famous book is filled with bad advice:

Dangerous advice

  • "If you're gonna go broke, go broke big"
  • Convinces people that college is for suckers

Law-breaking advice

  • Advocates committing a felony: have rich friends for trading stock based on non-public inside information, he says "That's what friends are for."
  • Recommends tax fraud by deducting vacations and health club dues
  • Brags about using a partner weasel clause in which his cat is his partner
Kiyosaki is making money from a personality cult

Many critics pointed out that Kiyosaki is selling a cult, not financial advice.

He is accused of tapping into the fantasies of the masses & being short on specifics, both attributes of religious cults.