Rich is visible, wealth is invisible. Let's talk about why it is so important to look poor.


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Chapters

00:00 Start Here
01:09 Looking Rich Is The Quickest Way To Going Broke
02:25 Looking Rich Burdens You With Liabilities
03:48 Looking Rich Makes You Live In Survival Mode
05:18 Looking Rich Makes People View You Differently
06:11 Getting Rich Is Just A Collection of Many Small Decisions
07:55 True Wealth Doesn’t Need To Prove Itself
08:56 Financial Peace Is Just Better



We often think that being rich is a very visible thing where you can see a person's money through nice possessions and an abundant lifestyle; however, this is not true. Many people who are rich and have a lot of money get that way by seeing the importance of looking poor. And when I say looking poor, I am not saying wearing worn out clothes and driving a terrible car, but just living a modest lifestyle where you don't flaunt your wealth. In this video, I share 7 reasons why looking poor is important.

1. Looking Rich Is The Quickest Way To Going Broke

Trying to look rich by making it visibly known is the quickest path to going broke. We often see this with professional athletes who will all the sudden start making millions of dollars and make their expenses high. Then, when they stop being an athlete and the money stops coming in, they have high expenses and no income or savings to back them up. Looking poor is important because it is a sustainable way to live in the long term.

2. Looking Rich Burdens You With Liabilities

The problem with trying to look rich is that you end up buying a bunch of liabilities, which are things you own. When you look rich you have credit card debt, auto loans, and high mortgages, and if something happens like you lose your job, you are unable to pay for these liabilities. Looking poor is important because you minimize your liabilities and buy more assets, which are things that provide you future benefit. When you limit your liabilities and buy assets like an emergency fund, index funds, and other investments, you are protected against life's surprises.

3. Looking Rich Makes You Live In Survival Mode

When you try to look rich and spend so much money on possessions, you end up viewing money as a means for survival to pay your bills because you are always running out of money and in need of money. Looking poor is important because when you limit your liabilities and buy more assets, your assets start making you money and you can view money as a tool instead of survival.

4. Looking Rich Makes People View You Differently

When you decide to make it visibly known to people that you have money, people will start to view you differently. Your family and friends might feel entitled to your money, you could surround yourself with phony people, and people could try to take advantage of you. Looking poor is important because it's better for people to not know how much money you have so nobody bothers you or tries to take advantage of you.

5. Getting Rich Is Just A Collection of Many Small Decisions

When you decide to look poor, what you are doing is making many small decisions every day to spend less so that you can buy more assets. Over time, these small decisions will compound into something much greater creating wealth in your life. Looking poor is important because it allows you to make more and more small decisions every day to build wealth.

6. True Wealth Doesn’t Need To Prove Itself

When people feel the need to make it known that they have money, they are trying to prove to other people that they have money. But what is the point? When you have real wealth of freedom, options, and flexibility, you don't feel the need to prove it to other people. Those things are so personal that you shouldn't care if other people know. Looking poor is important because the less you care about what other people think, the more you can build your wealth.

7. Financial Peace Is Just Better

I think, to some extent, everyone wants to have nice things because it's in our human nature. And although it is nice to have nice things, financial peace is just better. It's much better to sleep easy every night knowing that whatever tomorrow brings, you at least don't have to worry about money. Looking poor is important because although you don't have as many nice things, the freedom you get in exchange is much better.

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