November 12, 2014
Thomas Stanley tells us in his book, Stop Acting Rich, we can be rich or we can act rich. What does he mean and what can you do about it?
Thomas Stanley tells us in his book, Stop Acting Rich, we can be rich or we can act rich. What does he mean and what can you do about it?
He means you can either be rich by saving you money or you can act rich by wasting your money on expensive stuff you don’t need. The best way to be rich instead of acting rich is to save you money and only buy things you need, not things just to impress other people.
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Many people try to act rich by taking out debt to have a life that they want right now without actually working towards it and saving the money for it. They are willing to steal from the future to fund their fun right now. People get so caught up in having fancy things that they just want and need. No one needs a new Lexus when a used car still gets you where you are going the same way. It doesnt matter what other people think you have money wise, what really matters is what you actually have. If people think you have money due to the fancy things you have, you likely have no money while the cheap person who doesnt buy that junk doesnt look impressive but has money.
Many good points were made, gentlemen. Let’s review.
Thomas Stanley has studied millionaires like no one else. He has even written 3 books on the matter: The Millionaire Next Door, The Millionaire Mind, and Stop Acting Rich. He knows what a millionaire looks like, acts like, and how they live. He also has identified what the fakes look like.
Acting rich comes down to buying depreciating “stuff” just so others see how “successful” you are. Of course, it is a lie. You are spending your wealth away to “look the part” in the present. You are stealing from your future when you save no money from your current paycheck. It is that simple.
The real millionaire may not look so “amazing.” He or she may drive a “regular” car and live in a “regular” house. They end up saving a nice chunk of their money and then they invest it in stocks, bonds, Real estate and/or their own business. They don’t get caught up in “looking the part.”
The key here is understanding what habits and behaviors are needed to build wealth over time and what habits and behaviors will take you in the other direction (bankruptcy, foreclosure, and basic financial upheaval). The choice is yours. The choice is always yours. Awake!