Why Looking Poor Is Important for Retiring Well

[@annietaylorsmith3876]

At 45, I divorced my spend-o-holic spouse, I started to build my retirement. I purchased used cars (2 Toyotas). Eventually bought some land in the country (12 acres) and put a brand new single wide 3 br 2 ba mobile home on the property. Paid everything off before retiring at 59! Life is good with chickens, a garden, and my dog, Buddy! I don’t care about looking “rich.” I wear clothes from Tractor Supply and Walmart. I am the queen of my single wide trailer.😂❤ 🐶🐾

[@sundancer7381]

Wow! Looks like you have got it made! Do you use city water, a cistern, or did you have to build a septic system? What about electricity? Generator? What about the costs for the septic?

[@donnaatienza8001]

aww good for you

[@annietaylorsmith3876]

@@sundancer7381 I do have city water, but also have 500 gal of rain catchment for watering the garden. I have local EMC power and 2000 W solar generator back up with 1000 W of panels. Also a 2500 W Dual fuel (Gasoline and LP gas) generator. Septic was $3300 9 years ago. It's about $6800-$7500 for septic now.

[@TVHouseHistorian]

*LOVE* this story! Good for you! I would also love to know how your former spend-o-holic spouse is doing these days. I bet his situation isn’t anywhere near as rosy.

[@sundancer7381]

@@annietaylorsmith3876 Appreciate the info. Looks like you thought everything out carefully. I'm at that point of wondering which way to go.........

[@NoFeeArea]

I like looking poor. 1) people generally leave me alone 2) people don't argue with me (and sometimes reveal secrets). 3) I am invisible unless I want attention. Inner peace.

[@JanRonandArthur]

@@NoFeeArea this is exactly how I want to go thru life. And looking poor is the way to do it.

[@NoFeeArea]

@@JanRonandArthur I get a kick on how shallow and judgemental people really are according to appearances so for me it's entertaining. Smirk. In other words, I prioritize my comforts according to what I need and enjoy rather than what others expect. I guess it has to do with not really caring to "fit in" with the crowd. I despise the politics so for me it's easy being outside (which saves me a lot of hassle and money). Others just need to measure up I think. Priorities.

[@Contessa998]

Love this . Just bought a new car but nothing showy or expensive.

[@treskarina]

Yup. I want to be left alone. It's also funny when I drive up in my 10 year old (clean and well-cared for) car and make a larger charitable donation. I'm nobody, happily so, and I like to give to local causes. I can't make huge donations, but $500 given to my local animal shelter brings smiles to everyone there and more hope for the animals.

[@NoFeeArea]

@@treskarina Live simply and be happy. Key. I buy vehicles and run them until the wheels fall off! I had a GMC 1500 I bought brand new and got 200,000 miles out of it and owned it for 13 years. Then sold it for $2500. Saturn Vue I bought new and ran that for 15 years until the tranny failed. It usually costs me less than $2000/year that way for a vehicle. I buy them with cash unless there is a 0% deal...

[@cjhoward409]

Just reading all these comments, I feel like the people who SHOULD be watching this video are not. And those of us that are watching, are already doing these things

[@adarajennifer]

Exactly! And it's heart-breaking seeing friends with good incomes who can "never get ahead." Yeah, well, there's a reason. All of us have a certain amount of money. If people spend more than that and never save -- shock, shock -- they'll simply never get ahead and build actual wealth.

[@IndoDiaspora]

lol… you are 100% correct. The ones who aren’t doing the right thing things (like many people I know) do not want to be told to live beneath their means and thus avoid watching videos on how to manage one’s finances. They want to live the high life and spend all their income instead of saving and investing some of it.

[@pamelaharrison8298]

Boom you I think are correct.

[@diogenesegarden5152]

😂 you hit the nail on the head with that comment. I have close friends who I have tried to mentor in this direction, very nice people but absolutely unable to not spend money they can’t afford on crap, then wonder why they have huge debt. On another point, if you look wealthy you will always have people hanging on to see what they can get out of you, rather than genuine friends.

[@treskarina]

@@adarajennifer OMG! If I had ever made the kind of money some of my friends have made (and spent), I could play real life monopoly and buy up half the houses on my street. Crazy!

[@ultimobile]

at work I was mocked for my frugality - making my own coffee, saving money, driving an old used car. Then I retired with enough nearly 8 years ago, and those who mocked me are still working at around 70yo since they couldn't afford to retire !

[@TR4zest]

I am similar. Retired at 55. Bought used cars for cash, paid off mortgage 10 years early. Watched my neighbours fill their driveways with RVs, boats, Jet skis, etc, then beach homes. Until the courts came a-knocking because they could not keep up all those payments.

[@loft27ss]

@@TR4zestall those flashy staff in the driveway- just expensive DEBTS! Nothing more

[@alangordon3283]

Of course you did.

[@Sunfell]

I brown-bagged my way to an early retirement, using the money I saved to buy five years of retirement.

[@shweetiepetina1563]

@@Sunfell 👏 👏 👏

[@maryd253]

At 56 we downsized our big 6 bed/4 bath home for a one level smaller home. Hubby fought me on this because he liked the status of the big house but with the kids gone….nope. We are both happy beyond words to have a house that’s paid off. Retired a year later because of this. We live near “normal” people instead of snobs like the old neighborhood! We are truly living the dream.

[@damham5689]

Problem nowadays in many areas its hard to downsize homes as most have been building McMansions for so long that's all that is available. You either have to buy a very old home that likely needs a lot of work and has old windows and poor insulation, or try to find a lot to build on, and hope you can find an honest contractor/builder.

[@deekang6244]

Congratulations! Our house is paid off. Isn’t that a wonderful feeling???

[@ultimobile]

You have something they may never have ... enough.

[@deborahcurtis1385]

Well done! Very sensible ...your husband is a lucky man!

[@andersdottir1111]

Yes - normal people 😊 I too used to live near wealthy people and they were nasty and unfriendly. Now I live near a retiree, nurses tradies and a divorced pilot. Very friendly neighbours.

[@lynndupree1205]

As I've gotten older, I realize that I can't do all the house cleaning anymore. I value my limited time here on planet Earth more than I value a hoard of money in the bank. So I do have a cleaning lady, but it's not to impress anyone. It's to free me from drudgery and a sore back. I live within my means by driving a 9 year old car and paying cash for a small house in a very modest neighborhood. I don't spend money on status symbols, but I do prioritize my time and my health.

[@kathleenkalt3852]

I tell my husband that I'm not getting older, I'm just getting higher maintenance!

[@ghill4947]

There’s nothing wrong with paying for a service you can no longer do yourself. But because you always watched your finances, you can afford to do that.

[@subnaught]

Well, if you can afford it…to provide yourself with more time to party and save your housekeeper less sore backs. Sure, why not? 🏴‍☠️

[@lynndupree1205]

@subnaught First of all, I do not "party." Whatever that means these days. Having a housekeeper allows me time to do things I love. And I have earned it! I worked for over 60 years. Now I do volunteer work. I help others. I also PAY my housekeeping service very well. She is young and strong, and I am not. She has a profitable business. It's a win- win for us both.

[@subnaught]

@@lynndupree1205 Yes, I understand your Nazi “comparative advantage” rationales…

[@andycraig8610]

This video is spot on. I was made redundant in my mid forties and spent 4 years in a lower paid job. Discovered to my amazement that i could live quite happily on the lower income. At 50 i returned to a much higher paid job, and just continued with the same low spending lifestyle. Retired at 60 with no debt and hugh savings. Am now 67 and very content......a very valuable lesson. Andy in uk.

[@micheltran7955]

Amazing, my personal story is exactly the same as yours! Retired at 59 and enjoying my freedom since then. Mic in USA

[@MinkaSchlossberger4ever]

Are You married?😂😂😂😂😂😂❤

[@RyanBerich-u1w]

There is no need to look poor. Wearing clean cloths, driving affordable, clean, and well maintained cars, and so on does not look poor. It is not flaunting wealth but it is not poor. Live comfortably and within your means and you will win the game.

[@deloresredman4792]

Agree. I think looking poor is going overboard . you can still look decent and nice without necessarily flaunting significant wealth. There's poor people that still look decent and clean. Saying Look poor is a bit overdramatic

[@UTP504]

He didn’t mean looking poor in the literal sense, come on🤦🏾, he meant exactly what you said, I’m sure he and others who say it’s important to look *Poor*, don’t mean for anyone to let their hygiene, don’t groom themselves and not maintain their cars etc, they’re just saying live below your means, don’t be too flashy and spend unnecessarily on useless materialism.

[@elizabethk3238]

I agree!

[@deloresredman4792]

yes than dont use the word poor than. U can say average or working class. Using poor as a buzzword for clicks

[@deloresredman4792]

@@squirrelcovers6340 no one said that it did. But just because u have means its a little silly to pretend u r poor to fit in. Thats so middle school. Yes you may not want to flaunt it. Yes I understand that. Average might be a better word.

[@hannible1002]

People stay rich pretending to be poor, poor people stay poor pretending to be rich. One of the best sayings ever! I pretend to be poor!

[@BlackieBearz]

Excellent!

[@stevensheegog3942]

It should be one of the best saying, it’s from the book of Proverbs.

[@hannible1002]

@@stevensheegog3942 Really? I never knew that. I thought mark twain or someone like that. Thanks

[@stevensheegog3942]

@@hannible1002 Some who are poor pretend to be rich; others who are rich pretend to be poor. Proverbs 13:7 NLT

[@stevensheegog3942]

I love this one as well: Those who love pleasure become poor; those who love wine and luxury will never be rich. Proverbs 21:17 NLT

[@bigseahorsedc]

The wealthiest person is not the one that has the most. Its the one who needs the least. A 20% sale is still 80% on and may not really be on sale at all. Self control is a great wealth builder.

[@deborahcurtis1385]

'Buy straw hats in winter' I try to buy offseason and pick up the best quality I can for the cheapest prices. That way my clothes last and they are functional.

[@waynewang8743]

You had a good point. For the same internet service, I am only paying 40 dollar a month but my neighbor across the street is paying over 100 because I use my own gateway rather than rent one and I shop around to get good price. I do almost all the things around home while the neighbor is spending about 15K a year to keep his home/yard in shape. We worked for the same company before I retire in 2020 while he is still working. He is 3 years older than me.

[@GrnXnham]

100% true. The richer you look, the more family and friends want to "borrow" money from you!

[@frankb1]

Amen.

[@porschecarreras992cabriole8]

You ignore them. Just noise! Live how you want to live not how to be afraid to be seen. I don’t give a damn what they think and in retirement I will still drive a new Porsche! It gives me pleasure and satisfaction and the feel good factor is amazing

[@donnaatienza8001]

yes indeed and the more likely you are to be used too

[@donnaatienza8001]

in that case I don't want to look rich at all

[@donnaatienza8001]

there's nothing wrong with spending below ones means. it's smart.

[@JanRonandArthur]

This is absolutely true. We have always lived way beneath our means. We retired at 50 and 55 from professional jobs of 25 and 30 years. We immediately started working, I as a housekeeper for independent homes and spouse for a small mom/pop retail hardware store. No one has a clue how financially free we are. We drive a simple vehicle, non name brand clothes, and live in a very small cottage in a rust belt town. We live well, eat well (at home) and sleep well. We look very poor. We are not!

[@christinehutchins123]

My little granddaughter 5 looked at her aunt,my oldest daughter and said " grandma's car, its not that nice." Hilarious, I love my 2005 Honda crv, there's a lot of them still on the road! I don't worry about sand from the beach, dirt and fur from the dogs, or a scratch or dent in a busy parking lot. Its great! I have a really old I phone too! Doesn't mean anything to me ,long as it works I'm good.

[@JanRonandArthur]

@@christinehutchins123 I drove a Nissan Altima for 16 years. I kept it in really nice condition all those years but yes, years of dogs riding in the back seat and driving dirt roads to get to great picnic spots, it was really tired looking when I traded it in. For 5 years before we traded it, we made car payments to ourselves, so we paid cash for it when we bought it. We drive a new vehicle now but we will drive it for 15 + years before we trade it in.

[@Essemm52]

Money is for spending though; made round to go round! It helps the economy and therefore *everyone!* If you can afford it, have it! There are no pockets in a shroud!

[@loft27ss]

@@christinehutchins123same mi mindset here. I do not like things own me- don’t get people with new cars praying on them, you almost need to take your shoes off before entering the car…. Your can’t touch anything in the car and they don’t drive the car to far- so no mileage on it! My aunt like tbat😢😅

[@christinehutchins123]

Nice! Most people need to prove they have money. It’s a miracle I raised 5 kids mostly by myself with meager child support. They have wonderful memories of our vacations. I would save just enough to take sort vacations that were the best days ever. So much laughter! I figure I came in with nothing, used what I had raising my kids, hopefully be able to leave them some when I go out lol can’t take it with me .

[@Zoydian]

Hi Kevin, i think another HUGE advantage of "looking poor" is that the people that stick to you do so because of you, and not because of some financial benefit they may obtain from it.

[@deborahcurtis1385]

And the status race...who needs it?

[@1622steve]

Answers to doing lawn and other work: Cutting the grass is good exercise and I can think about things without interruption. I spent my whole career behind a desk. I found out that I really enjoy working with my hands. When I do it myself, it gets done the way that I want. I have time now to try new things. Physical work during the day helps me sleep at night. ....

[@PerfDayToday]

I love detailing our cars- getting quite good at it. Big reward, sun, fresh air, use cheap wireless headphones for tunes while I clean the cars, mow the lawn. Ordinary average guy.. joe walsh etc! 👊🏻

[@waynewang8743]

Same here,. Actually I do almost everything around the home myself for the same reason you mentioned because I have retired and have the time to do it. My neighbor across the street is my former coworker who is still working hard at his job. He does not have enough money to retire because I estimated he needs at least 15K a year to keep his home and yard in shape because he is not able to keep it himself.

[@christinehutchins123]

So true.. 👍

[@davidgifford8112]

I’ve only learned one financial lesson, that was in childhood from Dickens Great Expectations Mr Micawber “Income 20-shillings a year, outgoings 21-shillings a year, misery. Income 20-shillings a year, outgoings 19-shillings a year, happiness”

[@SteveHaycock]

Great quote….I thought the novel was David Copperfield…

[@MrEdWeirdoShow]

@@SteveHaycock I thought Expectations was the one with Pip...

[@Malmo117]

Very true!! Love to read Charles Dickens.

[@Guitar6ty]

Pity the government does not follow this.

[@mikewinston8709]

A lesson that never changes….ever!

[@alexrunzel6532]

The KEY is to look at what you have every day and be grateful for it. Clean water, reliable electricity, free time, etc. We Americans, even those that have less, are lucky to live in the US. It's cliche but the best things in life are not things.

[@11Hammers]

We’ve lived beneath our means our entire life. As I get closer to retirement I’m going to enjoy the fruits just a bit. I don’t care what my neighbors think.

[@foundryfinancial]

Sounds like a great plan.

[@howard6433]

Good for you! I also have lived below my means most of my life. I've saved enough to be able to enjoy some nicer things, but find it difficult sometimes to justify spending the money. Old ways die hard...

[@mocheen4837]

When I turned 50, I realized that we did not really enjoy life as much as we could have. I switched to working 3 days a week and started spending more time with family. I want to travel and splurge a little now that we have a decent cushion. Most of my friends retired at 50 with $5-10 million. I am a little behind them and will have to work until age 60.

[@Mimikoo]

​@@mocheen4837 we have 1.5M in 401k at 50 so we have to work till 60 too, even tho we own our cars and home. Sometimes it takes a little bit longer. 🩷

[@sarahann530]

​@howard6433 Do t worry your kids will spend it

[@daniellecarney1487]

I totally agree with you. When I drove a new BMW , bought like crazy, and lived in a million dollar house, I was not near as content as I am now, driving a ten year old Prius, no consumer debt, and a house worth less than half of my old house. I do not desire the same things anymore, since they are all empty promises and they just don’t deliver.

[@michaelh181]

I want to do this too, but I’m holding back because of some fear of missing out or I’ll lose value in societies eyes or something I haven’t totally psychoanalyzed properly yet. Haha. I am close to finally making the jump.

[@farciao]

@@michaelh181when we shed our need for external validation, we are free to be our authentic selves. Freedom is exhilarating!

[@dsmith9796]

Nearly 69, spouse is 73, married 35 years - we have always done our own yard in a neighborhood where everyone else has a lawn service!! I even painted my own house - that probably surprised some of the neighbors! I've lived beneath my means most of my life - we haven't made huge salaries but we are financially stable and happy -at our age good health is the true wealth.

[@clemdane]

You sound like my Dad! He never hires anyone for a job he can do. He mows the lawn, painted the house, and even replaced his own roof! I admire him so much for this.

[@deborahcurtis1385]

I do my own oil change on the car. The neighbour really hates it. LOL!

[@clemdane]

@@deborahcurtis1385 😁

[@williamsmith4899]

@@deborahcurtis1385 , that is great and saves a lot - please dispose of the old oil properly as it's a super contaminant for groundwater.

[@andersdottir1111]

I painted my house at 60 during the pandemic- it’s easy; if you can colour in you can paint a house.

[@annborges9088]

For wealthy people , looking poor may work for them. For me, I find that if I dress nicely, look clean and wear a little makeup I'm treated with more respect than I would if I look poor and shabby. I also feel better about myself and act accordingly.

[@Chrisgraww]

Hello 👋Beautiful Lady 🌹,How are you and the weather condition like ?

[@GMAMEC]

I think he’s talking about people who are into name brand items, go with trends, buy unnecessary products, purchase the latest cars etc. I think “looking poor” catches viewers attention and makes a point.😊

[@patwagner9308]

I'm sure he isn't saying to go around looking like a hobo. 😊 We can be clean, dress in a tidy way, wear some make-up...sure! It isn't necessary, tho, to wear obviously expensive clothes to be treated well. How we treat others has a lot to do w/ how we are treated sometimes.

[@sally674]

I think he means don’t over consume just dress down a little not to dress all Gucci. Because, if you dress down a little people won’t try to latch on to you for your money or asking for loans. I dress nice and clean but not really brand names. Mostly Amazon.

[@stephengiles8526]

I just live exactly the same as when I was working, not better not worse. Give myself the same monthly pay. Finished at 55 and now 57 and love not working and no 5am alarm 🤩🤩

[@timslater566]

Retired here too. The best thing I like is that I now only socialize with those I WANT to, not coworkers that I HAVE to!😁

[@neildillon837]

When i was a young guy just starting out i worked with an older employee who seemed to have done well for himself over the years. It was a union shop so we made the same salary. I wondered why was it i couldnt seem to get ahead. Ill never forget his response. " It doesn't matter how much you earn, it only matters how much you save". 😊

[@hosslane320]

My Apache mom's mother said the same . Bless you

[@DAG_42]

And invest. If you're in the USA then you have an excellent opportunity to tap the stock market (with tax advantage). First and foremost use 401k and IRA options. Investing safely and correctly takes education.

[@StrawberryShortcake12335]

Thank you! I cannot understand why I see so many KZbin shows about how to “look expensive.” I understand wanting to look nice, or look elegant, but looking “expensive” sounds like a negative to me.

[@ML-mq1he]

Agree! It implies that you are for sale.

[@Brijitjonz]

Who wants to be a target?

[@JoseJimenez-427]

The consumer financial sector would be devastated if large numbers of people followed this advice. 😢😢😢

[@ralphgreenwood5857]

I have top drawer shirts and bottom drawer shirts. The top drawer shirts are for going out when I want to look halfway decent, but not in any way flashy. Bottom drawer is for when I'm working around the house.👍

[@ajwhite8235]

Funny, I do this too!

[@hassanzorome7497]

I’m millionaire but I drive a 2007 Toyota Camry stick shift and I sleep well at night.

[@WTHenry2023]

Yep. 1999 Ford Explorer

[@richardross3172]

2000 Jeep Wrangler. 2nd engine, and 2nd transmission. Completely rebuildable.

[@bobbill4541]

You are very wise

[@english7451]

My cousin drives a new 70k Range Rover. I drive a 10 yo Mazda 3 with no mechanical issues or expenses in that time. She been carjacked!

[@foreveryoung999]

Same here. Drive a 13 years old Toyota rush. Have zero debt . Net worth above a million.

[@HolgerJakobs]

I've never had this dopamine shot from buying something. I wear my clothes until they fall apart. My car will be 18 years old in one months. The joy from owning my old car and my caravan has become constant. It's not spectacular, but gives me a constant level of joy. Yes, I live a simpler life than I could and I enjoy my financial freedom. I may not look really poor, but definitely not rich. I even ride a bicycle about as old as I am. I got it for free about 40 years ago, because someone thought it wasn't good any more. It's still quite good enough for me.

[@tebelshaw9486]

I get a lot of stuff by the side of the road that people discard for no known reason. Once picked up a push mower that only needed a new spark plug.

[@paula4910]

40 year old bike? You may want to loosen the purse strings a little

[@cato451]

Yup. My sisters laugh at my 20 year old Honda Pilot. They know I can buy any car I want but I get to laugh when they have to work and I don’t. lol

[@mpetersen6]

Get a bumper stick that says, "it's paid for!".

[@ThomasMarcotte-jt9od]

My Honda is only 15 yrs old. No reason to let it go.

[@LadyChelleish]

I can not give them folks all that money for a new car when I have a title to my 2001 Volvo 😂👍🏽 Shawdy my S paid for in full I’m ok paying for repairs my repairs cheaper than a monthly new car note 😂👏🏾👏🏾✌🏽❤️

[@cato451]

@@LadyChelleish very smart. Congratulations!!

[@cheetahb5]

I bought my '03 Pilot in 2005 and drove it til the end of last year when the rear frame rusted out. People always kept saying "Why don't you get a new car?" It got me where I was going and it was long paid for!

[@DragonYang01]

One more benefit of "pretending poor" is that it is easier to raise good children. When my 2 sons graduated from colleges and they realised that we were not poor but, on the contrary, quite rich, owing 3 houses in Silicon Valley. But, their life styles were already built in. They were never given presents unless they achieved some goals. They love to save and invest money. At age of 30, both of them are millionaires already by being smart in managing money. Another benefit is the enjoyment of purchasing. We spent a lot of time to decide what we want to purchase. The searching, discussing, analysing prolongs the joy of purchasing. We always return wrong purchases. We only buy what we like and continue to enjoy. By making purchasing hard, it is far more enjoyable because it is a sport for us.

[@cottawalla]

This has been my strategy my whole life. I like saving more than spending purely for the feeling of independence.

[@RavenclawTia]

My mom is 88 and has been retired for over 39 years. She shops exclusively at Kohl’s and Target and has driven her Honda for 9 years. She’s worn the same coat and watch for over 18 years, both of with she bought heavily discounted. She’s one of the wealthiest people I know. She doesn’t look poor. She just blends in.

[@c8Lorraine1]

My in-laws would buy generic items at the supermarket, drove an old car (but in good condition) bought few clothes but made sure the items matched with each other {capsule wardrobe). They had a lovely things they only brought out when entertaining, but their retirement was fully self financed. Lived a healthy life into the 90s, and after death their modest home sold for over a million dollars.

[@styleden22]

I agree 100%. I especially agree with the comment about the difficulty of walking back spending habits. I do cringe at the expression of "looking poor". I can have a modest wardrobe of good clothes and "look sharp". I can buy an older car that "looks presentable". A modest home can feel warm and inviting. Perhaps the word we are looking for is looking "content." Open to suggestions.

[@andrewforsythe7240]

Well said.

[@RachelDarleneGilliland]

Excellent points! Love your terminology suggestion.

[@johnfinegan5808]

First Timothy chapter 6 verses 6 to 9 in the Bible reads ... 6#But godliness with contentment is great gain, 7#for we brought nothing into the world, and we cannot take anything out of the world. 8#But if we have food and clothing, with these we will be content. 9#But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction.

[@msmarthagalan2590]

I tend to dress in very comfy clothes while at home but going to the grocery store I dress better and church I like to wear real nice clothes. Most people have lost pride in looking their best.

[@kenth151]

I am currently on vacation in the Canadian Rockies and just retired at 62. Live in Dallas Texas, I have a used car and a small Codo that I paid in full in cash. Most of net worth in stocks and bonds that throw off lots of cash. Complete freedom! Loving life.

[@TheNobbynoonar]

I bought a couple of guitars and a good quality amp just before I retired. I’ve been playing guitar on and off since I was a teenager. I worked full time for the best part of 50 years. I managed to pay off the mortgage and save a reasonable amount of money. I have a good pension. I consider myself lucky to be financially comfortable. I rarely splashed out money on fancy goods over the years. Any big purchases were thought out beforehand, and I always purchased quality stuff. I just wasn’t interested in fancy cars, designer goods etc…I now play for pleasure in bars and social events. I’ve met a good group of people and enjoy their company. Best purchase I’ve ever made.

[@Benzknees]

Sitting here in a small house, watching on a secondhand iPad, with a self-maintained 18yr old car, 36yr old washing machine, 44yr old fridge, in cheap & worn supermarket clothing, and doing all my own house maintenance, I couldn't agree more. No amount of swopping perfectly good old goods for new, or having services done by others that you can do yourself, are going to make you happy.

[@brucesmith9144]

@@Benzknees the most impressive thing is the 44-yo refrigerator. Good luck with any fridge built today lasting that long. Planned obsolescence so you’ll buy an IoT refrigerator. Who needs that?

[@jant4741]

I learned by watching neighbors. Woman who mowed her own lawn stayed strong & fit into her 90s. Decided I wanted to be like her. 40 years later, I am DIY & strong.

[@HeresMyView]

This suggestion is not to challenge what you're doing but to improve the quality of your life. Having old 2nd -hand IPad, 18-yr old car, 36-yr old washing machine, n 44-yr old fridge are not cost effective savings. Why? The old I-Pad cannot run the latest software, apps or programs that can improve and save you time. The 18-yr old car most likely consume more gas, not gas efficient, give less mileage, give less protection in the event of accident, and likely harder to get spare parts for maintenance. The 36-yr washing machine likely consumed more water, takes longer to wash, less cleaner, and noisy. And, the 44-yr fridge likely consume more electric, noisy, less efficient, parts may not be available if it broke dwn. The common theme is all these are electronic gadgets. Today's technology are very advanced, cheap, efficient, safe n convenient, especially from China. Therefore, my suggestion is to replace them cheaply with Chinese made products bcos you get a more effective, efficient, faster, better features, cost saving, time saving, safe products, and the latest innovative technology which will improve the quality of your life. Example, the cheap Chinese tablet will allow you to use 5G internet (faster), use latest apps to get your work done, online global shipping at cheap prices, consume less time, power, and use digital pymts. Unfortunately, many Chinese cars are blocked by many western countries, thus domestic consumers suffered bcos politicians protect big business, not consumers. But the old washing machine can be replaced with cheap Chinese washing machines - energy efficient, cleaner, clean faster, use less water, many features, etc. Likewise, the old fridge can be replaced with cheap Chinese made product. Chinese technologies have vastly improved over the last decade. They are not junk products anymore. Did you know that China is now the world largest cars exporter beating the combined export of Japan, US and Europe. You pay at a fraction of a cost to improve your lifestyle. The emphasis is replace worn out parts for maintenance, not repairs. Why? So that the latest efficient technologies can be used to improve your qualify of life.

[@jant4741]

@@HeresMyView show us a new washer that will last even 10 years! (Low water washing ruins fabrics) Around here water is still inexpensive and many of us have our own wells. My brother’s vintage truck doesn’t need gas station gasoline & with a solid iron frame that will plow right through new vehicles. Only issue with old iPads is designed obsolescence, the batteries, like just about everything else today. Sounds like you were born post 70’s person unaware of old time solid analog made in the USA stuff?

[@lhansel7584]

What brand of washing machine?

[@ammcjk2011]

I retired at the ripe age of 59 with house and cars fully paid and a large enough account not to worry about enjoying my retirement. I owe it all to one coworker that taught me early in my career to pay myself first before paying anyone else, and that included maxing my 401K contributions and personal IRA. I also never had to worry about creating a budget, but I never bought anything I couldn't afford to payoff by the end of the month and never had to worry about savings, since may savings contributions were automated and were beyond my reach. Obviously, I wouldn't have been able to succeed as well, without a spouse that thought the same way and some luck.

[@english7451]

Being broke in my twenties taught me how to be frugal. Grew up middle class and got a small inheritance that I wasted due to a crazy husband and men who stole from me. I keep my money to myself now.

[@annikabjornson998]

My in-laws had a neighbor worth 600 million. No, he didn’t go around telling people that, it was just commmon knowledge how much he’d sold his program for. This was in the 90s, and he was still driving around in a VW van from the mid 70s. And it looked like it! I think it helped the neighborhood see him as still the same guy.

[@damham5689]

Another plus to looking poor is when you get estimates for repairs on your home, they don't automatically jack up the price even higher than usual because you look like you can afford it.

[@hilarygibson3150]

A friend here in the UK was a mortgage adviser. She would have some man walk in having parked a shabby van and discuss should they buy a house outright or would it be sensible to take a mortgage of some kind. Next wpuld be someone in a brand new big car and they would be looking to re mortgage. Sometimes for the second time

[@timothypeacock2737]

You have just described my husband and me. We look dirt poor but we are financially very independent. We can do what we want We enjoy buying our needs at good prices. We are happy and content. We don’t want to leave loads of money to relatives, that is not the reason for our way of life. We just like getting our needs at a good economic price. Rebecca x

[@nancypolli]

I’m sure glad I did exactly what you suggested. At 70 and retired for 4 years ago. I have money, a house and peace of mind. I never made a lot of money, enjoyed my life and was frugal. No debt and no worry.

[@johnwilson7680]

Not caring what others think about your social status is a superpower.

[@lorenbibby9523]

Excellent!! That is so true.

[@christopherbilkey5237]

Before I retired I joked with a fellow worker about who had the worst car in the parking lot. We would kick the back of each other's car to see which rained the most rust and then laughed. We each knew the other was very well to do. Such a good feeling.

[@kkiwi54]

That's all very well but I prefer the comfort and safety of late model cars - having said that, my 2yr old Ford Focus isn't extravagant 😁

[@christopherbilkey5237]

@@kkiwi54 My wife had the nice car. We lived only 3 miles from my job so for me driving the junker was ok. Thanks for the comment.

[@globalfamily8172]

What was the good feeling? That you could buy one but you preferred not to?

[@j10001]

@@globalfamily8172 It’s like the delight of getting something for free. You have this cheap old car that just keeps running and cost you basically nothing. So you know all the cash that you’re colleagues and neighbors are spending on vehicles is going to other things you enjoy in life (including the peace of mind of saving). It’s literally very similar to the feeling of getting things for free. It’s also the delight of _being_ free - free from debt, free from the obligation to keep up with the Joneses

[@j10001]

That’s a great story! I love visualizing the rust sprinkling down.

[@brucesmith9144]

The more things one buys, the more money is needed to store them, transport them, insure them, and care for them. Retail therapy is a vicious cycle.

[@globalfamily8172]

Gotta clean it out. Nasty job.

[@sct4040]

So true.

[@gzoechi]

It's really hard to find stuff that feels like it's worth the money anyway

[@WageSlave_13]

Yep. Mobility is reduced. Agree.

[@tonycarrozza5274]

Yes!!! Your entire message is the subject of a book I devoured as a young man in the 1990s entitled “The Millionaire Next Door.” It was one of the few books that changed my life. I believe it was Sam Walton quoted in that book who said he is a firm believer in “shopping in stores with concrete floors.” Though a bit dated, it’s still a great read. When it comes to buying lots of stuff, there is another book that has changed my life whose message is “If it ain’t eternal, it’s eternally obsolete.” Today, I feel I am wealthy in every way imaginable and in every way that matters. Thanks for the great message, Kevin!

[@kalgaramerinos7085]

The Millionaire Next Door is a terrific book. Based on proper research and I agree, if any reader takes in the message, it will change their life.

[@Curlyblonde]

That book and it's follow-up The Millionaire Mind, which is just as good with teaching sound money management and lifestyle choices, quickly put me on the right path at a critical time about mid-way in my earning career. Both of these books should be utilized in high school curriculum as required courses for career and household management studies to get the young people off on the right footing as they start their adult lives.

[@ja-mm1mz]

You just described me and my husband in your first sentence. We started out poor. We lived within our means even though friends said we should use credit cards! We own our small house and used cars. My husband makes much more money, but we live the same way. We have a very nice savings and I really can't believe we are doing so well! I can't think of anything I want to buy that costs over $1000!

[@alaynashalom7109]

Love the reference to John Wesley. He is known to have said, “earn as much as you can, save as much as you can, and give as much as you can.”

[@131Basher]

Reminds me of two brothers I worked for in the 70’s. They owned a beach hotel in FL, several high end homes, and were worth many millions. They would send me to K-Mart to buy the cheapest shoes whenever they went on sale, in their 25 year old Cadillac. They wore cheap Timex watches and drank the cheapest beer. Nicest guys I have ever met, family focused, and gave generously to multiple charities. If you saw them on the street, you would think they were dirt poor.

[@johnurban7333]

I haven’t bought new clothes in years. There’s an independent thrift shop I go to that sells nice used clothing for $5 with a 20% discount. Whenever I need another shirt, pants or jacket I just go there and always able to find what I need

[@tebelshaw9486]

And China doesn't profit from it.

[@visaman]

What about suits for your board meetings?

[@english7451]

I sell the nice clothes I bought when working. Instead of buying. I get maybe one nice outfit a year. My winter coats are not new but look good.

[@jp6869]

I've become convinced that the two biggest rip-offs are new cars and new clothes.

[@scottharper9645]

We went in between. We retired from living and working in Hawaii to living in Ohio in a modest home that belonged to my in-laws. Our yard is very nice and well landscaped. We use a yard service because we travel so much and don’t have lawn sprinklers - remember it’s an old house and neighborhood. We wear comfortable clothing. We drive a five year old Lincoln suv hybrid for the gas mileage. We stay at budget hotels that have a kitchen for the savings from cooking our own food. The biggest rule we have is no debt. We saved and invested all through our working lives to generate a cash flow that pays us the same income in retirement we made while working.

[@dwayne4887]

Your comment is the only one that I've read here that I agree with. Live within your means, enjoy life without over indulgence. But I did not work hard and save 38 years to drive a 20 year old car that stays in the repair shop, never eat out or travel, unless that's just how someone likes thier life. For me, its not to 'over' indulge, but by all means to indulge.

[@dwayne4887]

​@waynewang8743 I'm not even sure what you are talking about. Your comment doesn't make any sense to me, please explain what you mean.

[@lillianbarker4292]

My husband and I were both teachers with only one child and some help from parents when we bought a house. Some people actually looked down on us as we lived more frugally. (Yes, that is a reality for teachers.) But we loved our work and had more free time with our son. We had security and a savings. We went to Europe and kept our Toyotas for almost 20 years. We had beauty because I’m an artist. Now my brother the doctor complains because we get a state pension! His first salary out of med school (paid by parents) was $30K. Mine was $7K 😂-in 1972. His real beef was that I was happier. Unfortunately, these days teachers often have to work two jobs and state pensions are fewer. Student loans are exorbitant and steady jobs are fewer.

[@GalleryofSpeed-yd9zy]

I truly admire looking poor. It is a blessing when you reach your Slow Go & No Go years.

[@tabithan2978]

I live a middle class retirement but my bank account is upper middle class. I’ve taught my daughter this way of life, live comfortably, safely, but shun designers and luxury brands. I learned this from my dad, who admired Buffet.

[@jacquesmertens3369]

Money buys time. Time means freedom. Time is the biggest luxury. I think you forgot an important aspect of looking poor: safety. I know people who own a luxurious villa in a wealthy neighbourhood, but they fear for their safety every minute of the day. They can't enjoy their wealth. They're addicted to sleeping pills. They're afraid to open the door. They're afraid to go on holiday and leave their property behind.

[@deborahcurtis1385]

EXACTLY! That's no life it's a living prison.

[@stolensilver6963]

Also, when you drive a beat up car you don’t worry about it being scratched or bumped in the parking lot. I don’t worry about my house being broken into, I have nothing a thief would want. I don’t worry about my mobile being stolen from me, it only makes calls and text messages (they would throw it back in my face). When you are very independent and equate money with independence you become a super saver.

[@texx1985]

Maybe in the US. No such fear in civilised countries

[@Iffy50]

The first moments of this video made me chuckle. This is my parents 100%. They are 78 and 83. Their net worth has never stopped going up even after they both retired. My Dad's drives a 20 year old VW Passat and has no interest in replacing it despite having loads of money. Their biggest financial problem is RMDs...

[@laurencecheyne593]

RMDs?

[@sundancer7381]

@@laurencecheyne593 required minimum distribution from IRA. I'm trying to up my RMD.......

[@globalfamily8172]

What is the point? You can't take it with you.

[@globalfamily8172]

Required minimum distribution - money that MUST be withdrawn from their retirement accounts. People not needing money hate to do this because they are forced to pay taxes on it.

[@karlmueller5654]

@@globalfamily8172The point is they have complete financial freedom. Not to mention money available for expensive long-term care should that become an issue, and for many of us it will.

[@IngeDemmendaal]

For the last 20 years of my working life I lived 3 grades below my actual pay. I retired a year ago with a very comfortable pension. I rent a ground floor apartment, no car, I don't smoke, don't drink. I have an e-bike and a train/bus pass. I eat very well, all fresh, and enjoy my freedom by visiting lots of museums and attending loads of concerts, theater performances, movies, whatnot. The monthly growth of my savings is thus that I support several worthy causes. I'm content as can be.

[@Michael-s2p3p]

I live in a cheap house at the age of 73, cheap taxes too. I don’t have to live here, but I like the freedom you describe. Going on a month long Amazon River cruise in January, and traveling to Colombia for 2 weeks in October. Total freedom here, no debt and no financial stress at all. Toughest thing for us is having to say no to loan requests from family.

[@retirementpirate3665]

I am watching this while my wife is at Good Will. Just got back home from 3 weeks in Japan and South Korea.

[@sksamiroo]

Excellent advise also for young smart people. Thanks!

[@Shirley-v3g]

Speaking for myself - I stayed single - never wanted to become a parent / that saved my life…

[@aleem3205]

Very Informative. I was taught this by my parents at a very young age. I saved more money and didn’t really miss out. Today, this poor lifestyle, built wealth and financial freedom. I retired at age 45, today I’m 55 and really enjoying life. I have no debt, have accumulated considerable wealth to spend going forward.

[@LeisureLizard]

I needed you 25 years ago! Would have made my life easier.

[@pgtips9511]

This is very good advice. When I was working I seemed to be driven by status but since retiring I paid off the mortgage, my wife and I downsized our house, kept kept our car and iPhones and cleared the overdraft. We still cook and eat good food made with natural ingredients, we love our garden and maintain it ourselves and we dress fairly smartly when visiting the theatre and taking breaks whenever we feel like it. It’s very liberating.

[@deekang6244]

Congratulations! We do this as well! We have a wonderful life! If I wanted to buy a nice outfit, I would. We have the things we want and like. It’s soooo fabulous! Walks in the woods (we pack a picnic and eat it at the picnic shelter), evening walks to see the stars (it’s quiet and lovely and we don’t have to get up at 5:30 am anymore so we can stay out late), weekday trips to the museums, sitting in a coffee shop to chat, taking weekday trips to do middle of the week hotel stays (cheaper) to visit other parts of our state. Visits to friends and can take our time… it’s all wonderful!

[@loganfishbeard]

I whole heartedly thank all those people constantly running on that proverbial treadmill. Without them, no debt would be created, our economy would stagnate, and my investments would become worthless.

[@kathimccaw1444]

What I think people need to do is question why they are spending the money. If it is to buy something you truly enjoy, need, love and will make use of, go for it. Too many purchases are to impress others, keep up with fashion trends, out of boredom, or trying to fill some internal need that won't be filled with more stuff. Find contentment and gratitude with a life style that you find fulfilling and you will find that you don't need so much money or "stuff".

[@caroldewey5043]

My brother has always said that about my husband and me. Now that we are retired, we are very comfortable. No regrets.

[@susanbaran9549]

I am a certified financial planner, too. What you are hearing here is absolutely true. I have seen many people with a high net worth who are less solvent and less happy than people with less wealth.

[@Nousmourronsseuls]

Bought a Porsche 911, two years before I retire. A life of working hard for everyone else and doing little for myself. Thoroughly enjoying it. Time is running out. What’s the point of dying with loads of money? A few little luxuries make life far more enjoyable.

[@technoxtreme178]

I agree. If it's not stressing you out, you can (easily) afford it, and it brings you joy well after the honeymoon period, then yes.

[@visaman]

Maybe you get credits in Heaven?

[@MiaTheodoratus]

Pick an extravagance and keep everything else mellow

[@scotttracy9333]

Absolutely nothing wrong with that. I live below my means , mortgage paid off, but I bought my dream car, a Mustang GT ❤️

[@paula4910]

No difference between a Porsche and a Toyota, why waste the money on going from A to B? Give it away to charity instead of selfish pursuits.

[@squizza28]

I realized years ago that those people who used to look down on me because I didn't wear the latest Nike sportswear, weren't worth knowing. The truth was I couldn't be bothered to. I thought clothes were to keep you warm, not to flash off to the world that you follow whatever trend the advertizers pump at you! And they used to moan all the time that they couldn't come out for a meal because they'd run out of money. They think they'll only get approval from those who behave like themselves (the ones they want to know) if they wear the latest clothes, or have the latest phone. It's ridiculous. The key point here is the need for approval. Not from anybody, but from the people who also follow fashion. They need to disregard fashion advertizers and then they'll be happy.

[@dustdevilz4771]

My wife and I have always lived as you promote, nobody know that we are as financially secure as we are. We don’t drive expensive cars, however we do own a hangar full of expensive aircraft and motorcycles that were paid for when purchased, as is the one modest home we live in. We have only purchased a single new car in forty years of marriage. We sold our second home after realizing it was a wasteful excess that other people used more often than we did. At 67 I still work because my job is so interesting and lucrative, but I haven’t needed to work for many years now.

[@cjhoward409]

We built our own house. No loans. So it has taken us 10 years to build, but it sure beats a 30 year mortgage with all that interest just given to the banks. We drive 2 older cars. My washer and dryer are both 26 years old. Rarely use the dryer as I like the smell of my clothes hanging on the line outside. All our clothes are older. I love yard sales and thrift stores but only what we need.

[@deekang6244]

I hang up most of my clothes, too. But the towels - no! They’re like sandpaper if I line dry them.

[@nogames8982]

In my town, there’s a lot of very rich farmers. But she wouldn’t necessarily know it. They’re driving an old beat up pick up trucks, wearing worn out overalls, and have enough cash in their pocket to buy a brand new car. It’s quiet money.

[@susan53226]

“Freedom from dissatisfaction“… I was very pleasantly surprised to see this as your first point! I often think of a quote which probably originated with a glamorous woman of the mid 20th century… “In first class you have luxury, in third class you have fun, in second class you have neither.” When I feel attracted to a luxury item, I remember all the times I paid a lot for something first class that did not live up to the sacrifice I feel I made for it. Yet I’m seldom disappointed with a third class bargain item or experience… they are sometimes free and otherwise usually worth many times what I gave for them. Dopamine generators!

[@niallwildwoode7373]

I've never had a lot of money. But when friends who had been with my last f/t employer since school, were talking of looking forward to their retirement years, I bailed. Sold my little house, bought a 14 acre pasture in the wilds and planted woodland. Now 20 years later I've kept going with small p/t jobs, but now have free heating & cooking fuel, wild swimming and spring water, and people pay me to have breaks on my land. And I'm enjoying my solitude as I turn away women who are trying to move in with me....life's too good to throw my peace away.

[@deekang6244]

You had me until you mentioned women… gotta wonder why. Why even mention that? Odd, that. It makes me think that secretly, you wish you had a woman. Otherwise, why even mention it?

[@wilmabrock5462]

I agree! Very telling!

[@quicknumbercrunch8691]

I have always lived below my means, so I know that you are 100% correct. I am now pushing 70 and have a comfortable retirement, no financial worries. Sadly, my sister and her husband only care about showing off. They are of course not well off at all. I manage a small trust that my mother left my sister. My sister wants to take five thousand a month out of the trust upon retiring soon. That would drain the trust in a handful of years. I suggested that she take perhaps three thousand a month so that there would be a good cushion for if she and her husband needed special health care or so the trust would last ten or more years. She became crazy mad. I understand. Without showing off her life is meaningless. She would rather die, she thinks. I have tried telling her that people would like her more if she was not showing off, but she cannot understand that. I hope many people see your video and take it to heart. I doubt it, but a few will.

[@quicknumbercrunch8691]

@@elizabethrufener7280 I would love to do just that, but as trustee I am obligated to protect her. Also, if she ran the trust dry to purchase some show off car or jewelry, it's me who will have to support her and her husband. haha. They have social security, but they love to purchase expensive clothes. On the other hand, I might follow your advice. Thanks.

[@sct4040]

$3k a month is very difficult where I live. I spend $3,500 a month, however, brings in more than that from SS + 403b.

[@J-2024-v8i]

Great video! A lot of food for thought. I liked also the point you made that, if you just pile up your home with clutter, not only you won’t enjoy it but also your family left behind will have to clean it up and get rid of it after you pass.

[@genxx2724]

Guess what? It might be even worse than that. I had to clean out a loved one’s mess, and he was not dead. Rather, he was incapacitated in a facility, and desperate for my companionship every weekend. I had to do the entire job myself in order to protect his privacy and dignity. This took my precious time away from him, as well as my grandma, who was in her 90s, lived only two blocks away from his home, and was failing. People, clean up your home NOW. Who knows, the person who suffers the most due to your mess just might be you.

[@SuperBookdragon]

The only caveat I would say ... if you buy a new car embrace it , take care of it so it gives you longevity and reliability for many years to come. I bought a brand new prious in 2011 and I still love it . I plan on keeping it until it no longer serves me.

[@deekang6244]

Yes,and although people say “don’t get the extended warranty”, I always do. It has always paid me back at least three times over. It’s always been an investment. And well worth it.

[@wealthelife]

My hack is to simply consume investments - I can then stay on the hedonic treadmill by getting my dopamine fix every time I put some ETFs or stocks, or buy some more retirement savings ;) After buying a shiny new stock or some mutual fund units I soon feel dissatisfied and want to buy a few more... my hobby is to collect NW.

[@globalfamily8172]

Well nothing wrong with moderation.

[@vince8436]

I don't have lifestyle creep. Yes i have to up grade things occasionally because things fail over time. But I don't buy things that may give me momentary joy, by that i mean for example if I buy gadget, I fully expect to use the gadget for years. Only exception really is I have bought tools that were only used once and I could not borrow. However the purchase saved me the cost of paying someone else to do a job I was capible of doing for way less than paying someone. So even only used once it saved money and I have it for a similer future repair.

[@pintsizestories196]

Because my husband and I have been careful with our spending, we have enough resources to move from our area to a more expensive town to be closer to our children and grandchildren . I'm glad that our choices mean we won't be a financial burden to our children. I am seeing more situations where parents are having to ask for financial help from their children just to pay the rent and buy food.

[@deekang6244]

That’s just strange. Unless you’ve had catastrophic medical bills or something similar, I have to wonder why?

[@ajwhite8235]

I’m a walking contradiction. Transportation and comfy clothes are really important to me. I make jokes about my clothes with “Do I look like a fashionista?”. But, buy pickups brand new and drive till no longer making sense to fix them. In the past, vehicles lasted over a decade but in recent years had a few changes of heart and one unexpected accident (his fault, no harm to my body or insurance rate) have me looking like I change vehicles on a whim. The point is I spend on what’s important to ME, not others. I’ve never been one to consider what the Joneses think. It’s served me well as now I’m retired and able to do what I want, when I want without worrying about needing a paid position. Life in retirement has been awesome!

[@ronjr831]

Very good video. Also there is a criminal part. They target people with fancy cars, watches, jewelry, iPhones, etc., unfortunately. They spend 24/7 watching and waiting. I have been debt free for 8 years and have no stress. Not working for someone else has been achieved finally.

[@esarlls3]

Best advice when I was young: If you can't pay for a car in two years, you can't afford it. Buying near 100k miles & selling about 250k miles has saved a lot over the years. Also buy/sell person-to-person to avoid dealer markup.

[@alansach8437]

I agree, but have never sold a car in my life. When I finish with them they are being towed away by the charity (Cars for Veterans usually) that I donated it to! If it runs I am still driving it!

[@JasonEDragon]

I've always bought new vehicles and made out okay. With new I avoid sitting in someone else's grime and I potentially avoid taking over someone else's problem vehicle. You just need to not buy more vehicle than you need, stick to reasonably priced vehicles, keep the cost of maintenance and insurance in mind, and take care of your vehicle so that you don't have to replace it often. And, unfortunately today, you really need to be skilled at shopping at a dealership - because they will rob unprepared customers blind. You are looking for transportation, not a soul mate. Get to know the vehicles you might buy ahead of time. Only consider vehicles that are not in short supply at a dealer. Stick to one transaction per day if you can - just buying the car for cash. You can sell a current car later. You can arrange to borrow money ahead of time if needed. Take no dealer addons. No service contracts. No extended warranties. Take your time - my last salesperson kept lowing the price when all I was doing was reviewing my notes of different vehicles that I was considering. Don't accept pressure - head to the door whenever you want. Don't sign anything that isn't a standard government form unless it is printed out and you have read it completely - it protects you and gives you a good reason to nix the finance office products. Each person at the dealer practices selling vehicles perhaps 250 days every year, so you have to shift the purchase process out of their expert hands and into yours.

[@deekang6244]

Ours is the three year rule for buying a car. It was also great when the three year loans had zero interest. I miss those days! The best of both worlds! I would keep our cars even longer, but I have to fight my husband all the time! He loves getting new cars.

[@sporter555]

Not only do you have the knowledge to build wealth, you have wisdom regarding it. Excellent video.

[@foundryfinancial]

Thanks!

[@ammerudgrenda]

Both my wife and myself came to the US from a different country, with no money and got a late start with our professional careers (both of u are engineers). We were always savers and had modest cars and we were not big spenders on clothing or eating out. If we had car problems or house maintenance issues, we went to KZbin to find repair solutions and did as much as possible ourselves. We are now in our early sixties and have way more money than we need for retirement. We are still working because we enjoy what we do. Right now, we are looking into online part-time work, so we work/travel internationally.

[@brucetownsend691]

A way to get yourself off the hedonic treadmill: when you think you want something, do all the shopping and research to find the best model, price etc. Decide to buy that one IN A MONTH or so. When the deferment period ends you usually find that you no longer really “need” it. If you still really want it, go ahead, buy it.

[@deekang6244]

I’ve successfully used this strategy as well!

[@04Serena]

Single RN, retired in mid 60s and doing well. I drove a Toyota hatchback for 20 years and would still be driving it if not for an accident. I saved and invested as much as possible during my working years while still enjoying occasional splurges. My paid off home is very nice, but not high end. I traveled in my younger years, but not so much now -- and not first class when I do. I polish my own toenails and don’t follow clothes fashion trends. Result: Unlike many friends and former colleagues, I have comfortable savings that will see me through the rest of my life.

[@Uno-u9o]

Looking poor is subjective. Just like other non- specific words. I live comfortably, with nothing worn out, stained or ripped but not fancy, designers or bigger then need. I like it like that. A long lasting quality value item, place,... that I like. Not a "o-o-o, look at that!" to please or impress someone else. I agree, there is something freeing about knowing you could buy it, but don't because you don't need it. I grew up a long time ago. What I have does everything I need, just fine. If I want to buy something else I can.

[@shannonl8602]

My husband and I have always been frugal and have never owned a new vehicle. or overspent. This year, at 54, we just downsized our large home since our kids are grown and plan to live well, but “simply” into retirement (whenever that is..since we’re self employed). I LOVE the thought of living below our means and not worrying about the things we can’t control, such as inflation. Spending excessively does not equal happiness.

[@corym8358]

It depends on what you mean by "looking poor". No one should look homeless or unkept. However, one can look modest, clean, well-groomed, and healthy while living below one's means. If you're doing it right, no normal person will know what your income level is just by looking at you.

[@Redbird4912]

All happiness, acquired externally, be that from stuff or relationships, will always be temporary and will always lead back to unhappiness.

[@svalder85]

I forget who said it, but this reminded me. 'You can be rich, or look rich. But you probably won't live long enough to be both.

[@sharit7970]

I don't think this was mentioned- but when you look rich, you make yourself a target for theft! When you don't look like you have money, you're much less of a target. That reason alone is good enough for me!

[@clemdane]

I grew up with my Dad doing all the work on our house no matter how much money we had. I never associated it with being poor. My Dad just wouldn't hire someoen to do a job he could do. He replaced our roof by himself. He scraped all the old paint off the house and repainted it. He installed our TV antenna on the roof and even built our TV from a kit! This was in the 1970s and 1980s, but he continued doing it all his life. When I was around 6-10 we lived in a really fancy neighborhood, but I never felt like we "looked poor."

[@herbayum76]

For me the greatest gift my parents gave me were books, playing musical instrument and had a lively debateculture at home...so i acquired what the Germans call 'Bildung'...i was never interested in a career worked for myself and enjoyed just reading...i have hardly any stuff..retired at 63..dolce far niente

[@PhilTomson]

Yep. We drive 20+ year old cars and live in a 1100sq ft house. I mow the lawn. Mostly retired at 60.

[@ghill4947]

On my wedding day 50 years ago my parents told us, “Always live within your means.” We did and now, as a 73 year old widow, I have no debt, a very comfortable retirement, and a sizable amount of money to leave my children if I so choose. Not bad for a blue collar life.

[@christopherrotter3969]

Here’s a tip: new is overrated. Almost everything depreciates; clothing, cars, boats, furniture, it all may be purchased for far less second hand. Here’s another: tools (especially hand tools), are like money in the bank; anything you can fix or maintain yourself will save you a bundle. Learn to make your own fun and have fun all your life; some of the best hobbies are the cheapest. I like repairing wrecked toy trains, painting and restoring them.

[@Curlyblonde]

It's only "new" for a few minutes after you buy an item. As soon as you walk out of the store, take it out of the bag and remove the tag, it's no longer new.