Why I STILL Buy Some 2nd Hand Stuff Despite Owning Several Millions In UK Property
There's a difference between wealthy and rich.
The Rich keep on spending trying to look good and have high cashflow, but nothing left at the end of their month.
Wealthy folks however, have their money tied up in Assets - and those assets are the things that generates income.
But at the end of each month, it simply 'resets' itself and you have another month with yet more cashflow while having to do relatively little work.
Understanding this differentiation is vital to your financial freedom and sadly, most simply don't get it.
For example, if you're paying for that nice car out of 'earned' income - it means you have to keep working to pay for the car.
Whereas, if you can pay for your shiny new car out of 'asset income' - you don't have to keep working.