Have you ever wondered who the wealthiest person in town is?
Chances are they could be living right next door to you.
A few years back, there was a book published called The Millionaire Next Door, where the author proposed that many of today’s financially savvy people may reside closer than we think.
These people understand one simple principal that has guided them through the ups and downs of uncertain markets.
“Live bellow your means”
As simple as this is to understand, how many of us can actually claim the application into our daily blueprint?
To gain wealth is the easiest concept to master. Spend less than you make, and put the difference toward investments that offer compounding interest. By doing this, sure you may not live in the nicest house on the block, or drive the most expensive gas guzzler, yet you will have one thing that the others may not. Security, in knowing that you are able to afford what you do choose to own.
It’s like the Cheryl Crow song goes – (loosely translated)
“It’s not having what you want; it’s wanting what you have.”
In today’s society where it seems half our block is in foreclosure, doesn’t it make sense to reevaluate our own priorities and look at ways to stop living up to the ‘expectations’ of others?
Who cares what the Jones’ are doing anymore, they are the ones having to move.
We are exactly where we choose to be in life, so perhaps it’s time to follow some sage advice and do exactly what our elders taught us.
Live well, but do it bellow our means.