Learn more about moneyandinvestments with this collection
The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
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 compare with the Joneses and the Smiths. They hold on to the belief that all economically successful people display their success through prestige products.
376
3.5K reads
MORE IDEAS ON THIS
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 million. Most rich people got wealthy through a simple combination of earning an income,
423
4.17K reads
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 luxury or sports cars.
- Really believe that rich people act rich.
It does not mean ...
378
2.99K reads
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 take about general atmosphere data points.
- They read: The space in their home...
512
2.12K reads
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 understand good debt vs. bad debt.
- You live a sensible lifestyle that's withi...
430
2.97K reads
CURATED FROM
CURATED BY
"Making money is art and working is art and good business is the best art." ~ Andy Warhol
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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 luxury or sports cars.
- Really believe that rich people act rich.
It does not mean ...
The survivorship bias
While success stories are motivating, they could lead to a false belief that success is more controllable and predictable than it is.
- The common traits of successful people and organisations are ubiquitous. These same traits may be equally present in the less success...
Learning for the Wrong Reasons
Education often isn’t so much about learning useful job skills, but about people showing off, or “signaling.”
Employees often signal through continuous professional education (CPE) credits so that they can make a case for a promotion.
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