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USA Real Estate Blog

It’s Time to Change Your Perspective on What Getting Rich Really Means

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What are the two most popular things to sell online?

Weight loss and getting rich.

Most of what you’re told in these two categories is nothing but rehashed nonsense. Yet people will spend thousands of dollars during their lifetimes to buy the latest course or guide.

They’re missing the point.

People talk about getting rich and becoming wealthy like they’re the same thing. They’re not. The definitions of getting rich and getting wealthy are polar opposites, like light and dark.

You don’t want to get rich you want to get wealthy. Here’s why you need to make the distinction.

Why You Want to Be Wealthy Not Rich

Getting rich is about luxury. Someone who is rich has a lot of riches. Riches are luxury. Those are the fancy cars, the big houses, and the long vacations to exotic destinations.

Those who are obsessed with riches are jealous, insecure people. Think the guy that lives in the ghetto, drives a beat-up car, yet wears designer clothing and a gold watch.

You don’t have to have a lot of money in your bank account to be rich.

Anyone can accumulate riches. Just grab your credit card and head to the store. After all, the consequences aren’t felt until later.

J. P. Morgan once said that nothing changes a man’s perspective on life like watching their neighbour get rich.

No, you don’t want to be rich. You want to be wealthy.

Wealth equals freedom.

Wealth gives you time and the chance to do whatever you want. Of course, wealthy people can still enjoy some riches and some luxuries, but they’re not stupid about them. They’re not going to buy the car they can’t really afford or the silly accessories they want to impress people with.

Rich = slavery to materialism and what other people think.

Wealth = freedom.

Photo by kazuend on Unsplash

Time is the Most Important Commodity on Earth

There are two great tragedies when it comes to making money.

You either decide to buy the luxuries you want now and you’re forever trying to pay for those riches. Or you’re so tight-fisted and you work so hard that you wait too long to realise your life’s work.

Dedicating your life to saving for the tomorrow that may never come is sad. Dedicating your life to impressing others with your riches and dying with nothing but cloth, metal, precious stones, and a mountain of debt is equally sad.

Either way, there are three things you end up not having. You don’t have freedom, you don’t have time, and you don’t have happiness.

Time is more important than money.

How many dying old men would give up everything they have for another day, another hour, another month, another year?

That’s why becoming wealthy is so important. Wealth gives you that time and freedom.

Ultimately, it brings you happiness.

But Not Everyone Can Make Enough Money to Have Freedom

I understand that over 90% of people in the US today will never make enough money to claim the freedom they want before they reach 65, or even 70.

So what do we do?

I’m not going to tell you that you have to make more money. I know most people can’t just magic up a few million dollars and a stellar investment portfolio they can draw the returns from.

But don’t worry because there’s a second way in which you can be wealthy and claim that freedom that allows you to live a happy life.

It’s called doing work that feels like play.

I always tell people that one of the best lessons I learned from travelling the world is that wealth is relative.

Some people in San Francisco pay $4,000 per month for some piece of shit apartment downtown. I pay $100 for a moderate, boring two-bedroom apartment in Guanajuato, Mexico. Do I need as much as the guy in San Francisco?

No, he’s working like a dog from dawn until dusk just to survive and the day I wrote this article I got up at midday.

And I can do that because I’m wealthy.

You won’t see me in designer clothing and you won’t see me driving a Ferrari. But I have the freedom these Ferrari-driving, designer clothing-wearing peacocks don’t.

So the alternative is to do what you love, even if it doesn’t necessarily mean that you’re going to make a lot of money from it.

Making a little more than you need to maintain your lifestyle (so you can save) is really all you need.

I went into the writing business because I love writing. I’m never going to make as much as a Wall Street stockbroker or a software developer in Silicon Valley. I accept that because my job makes me wealthy.

Think about what you love and what you appreciate.

Do you love playing video games? Think about how you could make an income from gaming. Love knitting? How can you make money from knitting?

In 2019, we have more opportunities to be free than ever before.

Photo by Aditya Saxena on Unsplash

It’s Not About Early Retirement — Unless that’s the Best Option for You

Read these guides on getting rich and they’ll always talk about how you can take early retirement. This is a false dream for most. Retirement in itself means nothing.

I’ve seen plenty of people who can’t cope with retirement because they dedicated their lives to work. They park themselves in front of the TV, become alcoholics, and lose touch with the real world. They don’t know what they want to do with themselves.

Some people see retirement as a chance to indulge in their passions for travelling or just spending every day on the golf course. That’s fine if it’s what satisfies you. That’s freedom.

But don’t shoot for the goal of early retirement for the sake of early retirement. We all need satisfaction in our lives. We need something to entertain and fulfil us.

It’s part of being human.

Shoot not for retirement but the ability to do what you want to do. That’s how you become wealthy.

Where Should You Go from Here?

Nobody’s path to wealth is ever the same. Nobody’s path to freedom is ever the same. I’m going to give you two examples of how people of different ages may decide to become wealthy.

Person A is in his late 50s. He’s saved diligently and he works a job that he doesn’t hate but he doesn’t care for it either.

What’s his fastest way to reach freedom? In his case, I would say just wait until retirement because it’s the quickest way to become wealthy.

If he despises his job, I would tell him to consider looking into early retirement and starting his own business to get him out faster. Remember, wealth is freedom. Yes, he might lose out on a lot of dollars, but that money isn’t worth his misery.

Person B is in his late 20s. He has an okay job for his age group, but he knows it’s not his passion. Of course, the salary prospects are good and he works in an industry that will be there for decades to come, so what should he do?

I would tell him that it’s time to make plans to get the hell out. Almost 40 years is a long time to do something you don’t care about.

He shouldn’t just quit his job and go live in some Hippie van. But he should be looking at going back to school or starting his own business on the side. If he’s hard working and he’s passionate, that side business will one day become his main business and he’ll be able to achieve wealth.

I’m not a believer in the Millennial mindset that we shouldn’t buy a house and we shouldn’t save for our futures because yay(!) experiences. That’s a bunch of stupid shit.

There has to be a balance because, yes, you can enjoy your experiences now, but you’ll pay for your decisions later in life. Then that wealth will be taken away from you because you weren’t responsible earlier in life.

There must be a balance.

Photo by Aziz Acharki on Unsplash

I’m Wealthy Not Rich

I never tell people I’m rich. I tell people I’m wealthy.

And, let’s be honest, people truly envy wealth not riches.

I’ve been told many times that people are envious or jealous of my life. But they never specify that they’re envious of my money. They tell me that they’re envious that I’m a full-time writer. They tell me that they’re envious of my ability to travel. They tell me that they’re envious of the fact that if I want to wake up at two in the afternoon on a Wednesday I can.

So what are people envious of truly? They’re envious of freedom.

When you think about what you want to do with your life. Don’t get rich get wealthy.

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