They chose financial independence over home ownership.

This is somewhat extreme but watch how this Canadian couple chose financial independence over home ownership.  They are in their 30s and,...

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Growing up to be truly rich!

Friday, June 22, 2018

Although we can say genetics make us what we are, our environment plays a part in making who we are.

If we are not careful, certain things we picked up in our younger days could set us back for life.






"Daddy, my classmate's family just moved into their new condominium. Has swimming pool and tennis court. So nice."

If a child said that to his father, I hope the father didn't say:

"His parents must be rich!"

Then, the child would grow up to think that anyone who buys expensive things must be rich.






"Wow, my colleague just bought a Ferrari. Must be rich!"

or

"Wahhhh. My supervisor just bought a Richard Mille watch. So rich. So good."

Yikes!

It is true that some rich people splurge on luxuries but it is not true that people who splurge on luxuries must be rich!







The truly rich are those who can afford to buy all the stuff they need and want

1. Even if they do not have any earned income

and

2. Without ever going into debt.

I believe that this is something that we should teach our children as soon as possible.






We will be improving their chances of growing up to be truly rich.

Related posts:
1. From rich to broke.
2. If we are not rich, don't act rich.

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