Reliability vs Luxury
Having an expensive lifestyle which is close to your means of living is not ideal. For example buying a car, a luxury sports car is not recommended to fit large equipment and materials used for either side business/jobs compared to buying a second hand pick up truck or multipurpose vehicle. When you want to buy something think it over if you need it and how it benefits you in the long run, is it a necessity, are you able to use it daily and afford the maintenance? These are the questions one must consider in order to be on the road to being wealthy.
Watch more of this short video from Achieve Financial Independence! Science Reveals Secrets Of The Rich | William Danko.
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There’s no doubt that it's a very challenging time right now for the average investor. Above and beyond the recent economic impacts of COVID, the new era of record low interest rates, runaway US debt and US deficits, and trillions of dollars in monetary and fiscal stimulus stimulus has changed the rules of investing by dangerously distorting the Dow index, the S&P 500, and nearly all other asset prices. Can prices keep rising, or is there a painful reckoning ahead?
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