Intrinsic vs Extrinsic Wealth : The Millionaire Next Door

 

Intrinsic vs Extrinsic Wealth

The Millionaire Next Door

By Adam Mundorf

Intrinsic vs Extrinsic Wealth
Wow!  Look at that beautiful sports car, the big house, the jewelry and the designer clothing.  They must have it all!  Right?  No.  In all reality, these are the first people to go belly up at the first sign of trouble.  From the outside looking in, you would assume that these people had their shit together.  Very rarely do any of them, that's why the wealthier one gets oftentimes the simpler and more frugal their tastes.  I've seen it time and time again, visiting friends in wealthy neighborhoods and seeing foreclosure signs littering the streets, including some of my Wall Street friends.   Once a point of misaligned jealousy from me has come to light, they could never afford this lifestyle at all. Living life on leverage and trying to keep up with the neighbors gets expensive. In the world of money and wealth, the truly wealthy laugh at those with 'things'.  Things that depreciate in value and that only demonstrate the ability to spend but not to invest in something bigger than themselves.  They laugh at those who own things that inflate the ego,injure the soul and draw attention.  The truly wealthy are much much different.  They are the millionaires next door.

The Millionaire Next Door
The man with the average job who clocks in everyday has the ability to live a life of comfort with the ability of opulence.  He may drive an average car, live in an average home and do average things but is intrinsically happier.  Driving past a Ferrari dealership and saying I could afford that but why?  Will a Ferrari make my life more virtuous or aligned with my goals?  Will driving around a house payment make my life or others life that much better?  The millionaire next door says no.  The ability to make a difference is what drives him.  Every dollar spent today is ten dollars that could help others in the future.  The millionaire next door understands this.  Life is made best by maximizing and showing gratitude for life's simple things.  Soft socks, a soft bed, a fresh cup of coffee, feeling the warm sun on your face, feet in the soft grass, running water and food to eat.  The millionaire next door is truly wealthy for it is the man who wants for least, is the one who has the most.  Do not be fooled by the celebrities who live lives of short term debauchery and are the first ones to declare bankruptcy in the face of adversity.

If you want to learn how to become the millionaire next door go here : Fountain of Prosperity : Personal Finance and Investing for Longevity

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