Why High Incomes Don’t Equal Wealth

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  • Опубликовано: 24 дек 2024

Комментарии • 40

  • @Rainvilleent
    @Rainvilleent 2 дня назад +6

    Great video, makes sense!

  • @bcrawley7608
    @bcrawley7608 2 дня назад +6

    I 100% agree that "looking the part" drains many people's finances. I know some very wealthy people and they tend to actually look "poorer". They care less about all of the material things.

    • @SimplySt8ed2024
      @SimplySt8ed2024  2 дня назад +7

      That's usually been my experience too 👍🏻

  • @alittlegoodnews1103
    @alittlegoodnews1103 2 дня назад +6

    Another entertaining and informative video. Thanks

  • @Damian-zk8vh
    @Damian-zk8vh 2 дня назад +6

    I met a few wealthy people that were more concerned about appearances and were overspending to keep up with their rich friends.

  • @TheHistoryMatrix-gk2sh
    @TheHistoryMatrix-gk2sh 2 дня назад +5

    Its tough to save a lot of money when you live in an expensive city. Sadly thats the best place to be for work in my field.

  • @PenYourPurpose-p4g
    @PenYourPurpose-p4g День назад +4

    Valuable information as always. Thank you!

    • @SimplySt8ed2024
      @SimplySt8ed2024  День назад +5

      Thanks, as always, for your support 👍🏻

  • @AwfullyDisturbing
    @AwfullyDisturbing День назад +4

    Buying liabilities instead of assets...that's my experience. Took a while to realize that I needed to do more with my money than just spend it on "stuff".

    • @SimplySt8ed2024
      @SimplySt8ed2024  День назад +5

      I think that's one of the most important things to learn about money and building wealth. 👍🏻

  • @WisdomBeyondWise
    @WisdomBeyondWise 2 дня назад +6

    I like the idea of paying yourself (savings & investments) first and making sure you keep some of your money to enjoy life as well. Seems like a good balance.

    • @SimplySt8ed2024
      @SimplySt8ed2024  2 дня назад +7

      I agree. I think it makes for a good balance between saving and enjoyment 👍🏻

  • @Michael-xj6nf
    @Michael-xj6nf 13 часов назад +2

    Thx for the info!

  • @Michel-tg9qb
    @Michel-tg9qb 2 дня назад +6

    👍

  • @NiffyCo
    @NiffyCo 23 часа назад +2

    Thanks for this info.

    • @SimplySt8ed2024
      @SimplySt8ed2024  14 часов назад +4

      Thanks, as always, for your support 👍🏻

  • @MrCreativeArts
    @MrCreativeArts 2 дня назад +6

    I live in the highest cost of living area. Makes it harder to save..

    • @SimplySt8ed2024
      @SimplySt8ed2024  2 дня назад +6

      That definitely makes it more challenging but not impossible. I would recommend speaking with a financial advisor who can help get you on the right track.

  • @bradcrawford7444
    @bradcrawford7444 День назад +3

    I wish I understood the idea of Lifestyle Inflation earlier. I wasted so much money in my younger years that could have made a huge difference to my current net worth 😕

  • @YourAnimeStudio
    @YourAnimeStudio 2 дня назад +6

    It's hard to build wealth if you're just spending all your money

  • @Michael-to6si
    @Michael-to6si 13 часов назад +1

    The pressure to look the part is a big thing.

    • @SimplySt8ed2024
      @SimplySt8ed2024  13 часов назад +1

      Yes. It's tough when everyone around you looks and acts a certain way

  • @mrcisme2024
    @mrcisme2024 2 дня назад +6

    Over the years I've seen two friends, both earning huge salaries, have to declare bankruptcy due to overspending trying to keep up with their colleagues at work.

    • @SimplySt8ed2024
      @SimplySt8ed2024  2 дня назад +6

      I think there's a lot of this going on behind the scenes for many earning seemingly great wages! 👍🏻

  • @Mister-ii8vk
    @Mister-ii8vk 13 часов назад +2

    High income doesn't necessarily mean happiness... But it must help a little 😂

  • @kennethroyer9949
    @kennethroyer9949 14 часов назад +2

    Looking good and going nowhere FAST!

  • @Rainvillemichael
    @Rainvillemichael 13 часов назад +1

    It's hard to build wealth when you "dress to impress"!

  • @nsj9
    @nsj9 4 часа назад

    Just bc you make 100k or more doesn’t mean you gotta spend like you make 100k in the 80’s