The pseudo-affluent - Deepstash
What Is Opportunity Cost

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

What Is Opportunity Cost

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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 compare with the Joneses and the Smiths. They hold on to the belief that all economically successful people display their success through prestige products.

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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 ...

378

2.98K reads

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 million. Most rich people got wealthy through a simple combination of earning an income,

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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 take about general atmosphere data points.
  • They read: The space in their home...

512

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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 understand good debt vs. bad debt.
  • You live a sensible lifestyle that's withi...

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"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...

The Book in 5 Lines

  1. Β WHY is the purpose, cause, or belief.
  2. Every inspiring leader starts with WHY
  3. People don’t buy WHAT you do, they buy WHY you do it.
  4. Knowing our WHY is essential for lasting success and the ability to avoid being lumped in with others.

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