The “hardly wealthy” are a complex bunch. In their eyes, they are excessively wealthy with large sums of money to support their extravagant lifestyles. On paper, they have more money going out than they have going in.
Habit 1: The hardly wealthy don’t care to ensure secured wealth for their future generations with a good education and trust funds. Wealth is not dressing them in the finest of Gucci sneakers. Have your kids on the road to Harvard.
Habit 2: Forget investments. It’s all about excessive spending. It’s not on things of value but things that generate momentary satisfaction.
Habit 3: Thinking you’re invisible to becoming broke. Whilst you may take great joy in having a multi-million dollar house. Make sure that you’re looking at the bigger picture. You are contractually tied into a 15 to 30 yr mortgage. You are paying to own the house that you don’t own just yet. In addition to that, you must keep in mind the property taxes and maintenance on this million dollar home. You have the money now. Will you have it 20 years from now?
So many of the hardly wealthy go from this
back to this:
Check their track records in 10 years. Don’t join this group!!!!
Images courtesy of Peeter Viisimaa and ATL Night spots.
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