Stop looking rich

Stop looking rich. Even if you can afford to look rich.  While we are at it, stop acting rich too.  Just chill on all that rich stuff for a while.  It will come, I promise, but there are some things you need to do before you can get to the “look rich, act rich, life”.  You need reserves, you need cash flow and you need to stop funding your lifestyle out of your 9-5.  A job is not meant to serve as a lifetime source of income.  A job is meant to get you the cash needed to liberate you.  If you are wise you will do just that.  Here are few other quick points on the topic.

Getting a good job doesn’t qualify you for high end luxury

When I got out of college and started working at Edward Jones my girlfriend (now wife) and I started living the good life.  We threw away money on dinners, we took too many trips, we bought expensive purses, bought watches, we bought whatever we wanted because we had college degrees and that’s what we “deserved”.  It was lit. I was 23, good job, no kids, and extremely misguided.  After I left Edward Jones, I got another great job at Chase bank and again proceeded to ball out of control even harder.  I hadn’t learned my lesson yet.

High end luxury, by my definition, are things with cost drastically greater than their utility. Example, a luxury car gets you to the same location as a Honda, a target purse carries your junk just like an Hermes purse.  The difference between the utility cost and the brand cost is your wealth.

The problem is that using your free cash to buy luxuries robs you of the only source of capital you likely have to live a truly luxurious life.  If you don’t come from wealth, and you are spending the principle wont ever get there.  You will look good being average though.  Most of us do this because in college we had to grind through.  Afterwards you want to show that all that sacrifice was not for nothing.  There is a better way though.  Looking back now I wish I saved all that cash and bought the various properties that were at bargain prices back in 2009.  Instead, I had a lot of memories that my kids can’t inherit.

Getting a job, even a good job doesn’t qualify you for luxury because assets, not good jobs, buy luxuries.  It is a very black and white rule.  IF you have a desire to buy a luxury, it is up to you to buy or build an asset.  If you don’t buy or build an asset, guess what, you don’t get luxuries.  Stop buying high end luxury out of your job.

If you have to save for luxury you aren’t ready for luxury

If you have to save for luxury, you aren’t ready for luxury.  This isn’t me being a mean person or saying you can’t have nice things, this is me telling you that living that life will keep you trapped in the rat race.  My advice isn’t for average people so don’t debate me.

Saving to buy luxuries indicates that you can’t afford that luxury.  Using a windfall to buy luxury, indicates that you cant afford that luxury.  This is because your paycheck is not an asset and again, assets buy luxuries, not paychecks.  The key is to take your savings put it into an asset and then pull the cash from there to buy your luxuries.  Its called “cash asset cash”.

Save to invest and then buy luxuries out of your investments.  This is if you want to be rich though. If you want to be rich at some point in time you have to make money when you aren’t working.  In order to do that you have to buy things that pay you whether you work or not.  To do that, you need cash, not luxuries.  Your assets will buy your luxuries.

The culture doesn’t deserve Gucci

The culture has a while to go before we should be stunting in brands.  Why? Because we are in last place.  We need to put ourselves on punishment.  No parties, no vacations, no nice things until we are in first place or at the very least competitive.  If your kid brought home Fs are you going to reward them? You shouldn’t and the black community shouldn’t continue to reward failing behavior.  We have other priorities that must be attended to and the solution to those problems is wealth, not Louis Vuitton.

It’s been a while since the last BLM protest, but every time you bring up the crime that happens in hood people point to the lack of resources and the lack of wealth.  This is interesting, because on Instagram everyone is rich. The truth is that not many of us should be looking how we look.  Even if you are doing well, if your community is struggling you aren’t doing well.  Double down on your community don’t just try to make it out of your community.

The problem is that we seek the image of wealth over the actual existence of it. We buy from people what they sell instead of selling, or owning.  Unfortunately, when you really break this down, the fact that we choose brands over ownership really speak to how manipulated we have been by the media. The problem is that your dollar is your power.  When you give up your actual power for the image of power you lose.  Most of us would rather look good losing instead of actually winning.

Stop looking rich until spending your money looking rich doesn’t affect your wealth.  Stop looking rich until you actually are rich.  THIS is a more noble goal than chasing temporary status in depreciating items.  At that point you can afford to look rich. If you have to save your money or use a windfall to look rich, you aren’t ready to look rich.  If you use your income from you paycheck to look rich, you aren’t ready to look rich.

You don’t look successful you look silly

If you see someone with a 9-5 living like the nobles you know they are stretching their paycheck thin.  If you are stretching yourself thin you are irresponsible and its tough to look successful and irresponsible.  You might fool those who don’t know but to those that do know (the actual wealthy people) you look like a fool.

When you see someone on the bus with Jordan’s does “baller” come to mind? When you see someone with all Gucci gang and a tax refund do you think “wealthy”? No, nobody does!

Most people don’t know that there are other ways to make money outside of your paycheck so they squeeze as much value out of that check.  I feel sorry for those naive individuals.  Other people don’t know that assets generate income. That income is what the wealthy live out of.  That is why most of the items you really want cost a lot more than what someone with an average paycheck could afford. Just chill on all that paycheck thinking. Profits are better than wages.

If you want to be able to comfortably afford the finer things, its imperative that you run away from luxuries on your 9-5 and get some cashflow. This is the hack.  Nothing more.

Be great, invest well,

Todd Millionaire

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