Ideas from books, articles & podcasts.
Housing should be no more than 30% of your income. Warren Buffett's house is worth .001% of his total wealth.
The possession of things differentiates the rich from the wealthy. Wealthy people don't flaunt their money; they save and invest it.
MORE IDEAS FROM THE SAME ARTICLE
The definition of wealth is personal. It may mean something different to everyone.
Some people view wealth in terms of prestige and not dollars. They would rather have a job that requires years of education than learning a trade, even though they may earn less with their Master's or Doctorate degree.
By 2020, 65% of all jobs will require postsecondary education and training beyond a high school diploma. But with the cost of college education, this is out of reach of many people.
Living and enjoying life is not dependent on money. Some of the happiest states in America are also some of the poorest.
We all, rich or poor, have the same 24 hours in a day. But we can use our money to buy more time. For example, by eating out, you don't have to decide what to cook, shop for ingredients, cook, and clean it all up.
If you just want to have a comfortable life, it is increasingly out of reach. If you earn the minimum wage of $7.25 an hour, you can't afford a two-bedroom apartment anywhere in the US. In 1963, wealthy families had $6 for every $1 of families in the middle. By 2016, it was $12 t...
According to a Modern Wealth Index Survey, the amount needed to be comfortable in America is $1.4 million. To be wealthy, you'll need a net worth of $2.4 million.
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