Author Topic: How to be Rich in Two Steps  (Read 6269 times)

Thoughtful Mule

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How to be Rich in Two Steps
« on: February 04, 2015, 02:33:24 PM »

1)   The first step is to have money.  It could be any amount.  This seems painfully obvious, but what I am saying is that with ANY amount of money, you can be rich.  The key here is to have the necessities covered. It’s hard to feel rich when you are hungry or out in the cold. You can pay for these things, or use a little ingenuity to get the basics covered. Now comes the most important step.

2)   Step two is all about mindset, which is the only factor determining whether or not you are rich.  Realizing that being rich is %100 completely relative.  There is no absolute point on the scale where someone can proclaim that they have made it, that they are rich. This comes from mental strength, creating your own scale on which you evaluate your conditions.  Look at history; It is easy to feel rich comparing your situation to that of the dark ages in Europe.  Take a global perspective; it’s no stretch of the imagination to feel wealthy when compared to parts of Africa, the Middle East, North Korea, and even some areas closer to home.
Mr. MM gets this.  He covered the first step early in life and has shifted priorities over to step 2 to carry him through.  Note that while he may be “retired” he’s still working on step 1. You may choose to have more money, and less mental strength (risking getting punched).  Or you may choose to live a highly conscious lifestyle with little money.  Either way, you can be rich by balancing these two steps.

Pooperman

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Re: How to be Rich in Two Steps
« Reply #1 on: February 04, 2015, 03:42:16 PM »
Step 1: Save.

Step 2: Invest the money gained through step 1.

Mississippi Mudstache

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Re: How to be Rich in Two Steps
« Reply #2 on: February 04, 2015, 04:21:00 PM »
Step 1: Underpants
Step 2: ???
Step 3: Profit!


Just kidding- I like the sentiment and I agree with it. We are absolutely already rich, by practically any definition that has existed in the history of humanity. Of course, our own definition is by far the most critical.

SantaFeSteve

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Re: How to be Rich in Two Steps
« Reply #3 on: February 04, 2015, 04:23:04 PM »
Step 1: Underpants
Step 2: ???
Step 3: Profit!


Thank you for making me laugh!  Love me some South Park!

OP, well said. 

innerscorecard

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Re: How to be Rich in Two Steps
« Reply #4 on: February 04, 2015, 06:47:14 PM »
The third step is to keep your money out of the hands of the authorities or others who would take it from you.

MoneyCat

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Re: How to be Rich in Two Steps
« Reply #5 on: February 04, 2015, 07:00:03 PM »
Step 1:  Have rich parents.
Step 2: Complain about how lazy poor people are.

Miss Prim

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Re: How to be Rich in Two Steps
« Reply #6 on: February 06, 2015, 04:00:58 AM »
My goal was never to be rich.  I knew I would never attain that on the salaries my husband and I made.  My goal was to be able to afford to retire with the same standard of living that I have become accustomed to.

Basically to not have any wants or needs that I couldn't afford.  I feel that I have achieved that due to not wanting fancy cars, fancy clothes, latest gadgets, etc.  I never felt like I was living from paycheck to paycheck as that would have been the worst thing I could think of.  My parents kind of lived that way and I vowed never to live like that.

I am rich in the important things like close knit family, basic needs met plus extras and money to tide me over for the future.

                                                                   Miss Prim

Thoughtful Mule

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Re: How to be Rich in Two Steps
« Reply #7 on: February 06, 2015, 09:12:17 AM »


Basically to not have any wants or needs that I couldn't afford...

I am rich in the important things like close knit family, basic needs met plus extras and money to tide me over for the future.

                                                                   Miss Prim

Sounds rich to me!

EllieStan

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Re: How to be Rich in Two Steps
« Reply #8 on: February 07, 2015, 10:49:04 AM »
1. Being debt-free makes you richer than most people - said a wise person (who achieved FIRE) to me, in my early 20s.
2. Invest the money you saved. - MMM and most financial blogs I'm now reading.

I strongly believe 1, because I have earned a decent income for the past 4 years thanks to a generous scholarship. But over 30% of that amount has been going toward my student loans. Yes, I will feel rich when I'm debt-free. When my networth will not be negative anymore. When ALL my disposable income will go towards living (or building home equity on a modest house), saving and enjoying (little extras), when debt repayments will no longer be a strain in my budget that prevents me from achieving all my projects and goals.
« Last Edit: February 07, 2015, 10:54:23 AM by EllieStan »

morning owl

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Re: How to be Rich in Two Steps
« Reply #9 on: February 07, 2015, 12:01:10 PM »

1)   The first step is to have money. 

Teehee, I can't help but think of Steve Martin's classic SNL sketch:


'You.. can be a millionaire.. and never pay taxes! You can be a millionaire.. and never pay taxes! You say.. "Steve.. how can I be a millionaire.. and never pay taxes?" First.. get a million dollars. Now.. you say, "Steve.. what do I say to the tax man when he comes to my door and says, 'You.. have never paid taxes'?" Two simple words. Two simple words in the English language: "I forgot!" How many times do we let ourselves get into terrible situations because we don't say "I forgot"? Let's say you're on trial for armed robbery. You say to the judge, "I forgot armed robbery was illegal." Let's suppose he says back to you, "You have committed a foul crime. you have stolen hundreds and thousands of dollars from people at random, and you say, 'I forgot'?" Two simple words: Excuuuuuse me!!" '

 

Wow, a phone plan for fifteen bucks!