Another very rich guy made heaps out of flatpacking and supplying us Allen keys to make things ourselves, and he still takes the train and still owns his old 240GL stationwagon.
A wise friend of mine once said that "millionaires don't get rich by spending their money", which is quite true.
How to be rich and boring?
It takes a special breed of person to become self-made super-rich. Shrewdness is one thing; grabbing opportunities to consolidate and grow wealth are key steps in becoming rich, as is careful risk management. Luck plays a part, but only to an extent, just look at the stories of lottery millionaires who end up returning to social support/Centrelink payments; a lack of shrewdness and discipline let them down.
Discipline. Discipline seems to be a standard theme in building any sort of massive project, whether it is a cult of personality or a large amount of wealth. Following strict rules and self-control, you will be able to do well, anything. Build pyramids, fast cars. A billion dollars. Ya.
Now, starting from the ground up. Considering you saved everything, and you spent nothing outside of pure essentials. No entertainment, no non-essential hygiene like EDT, no indulgence. Then you save maybe, $10,000 to $15,000 a year, if you worked casually. That's a lot of money, but no you can't touch it; it goes to an investment of sorts. Slowly it will develop into a large sum of money, and you may become a millionaire five times over in perhaps, 10 to 15 years of doing this. You really could.
But it's not money you can actually appreciate, or enjoy. You get wound up into an unreality of wealth without the trappings that come with it. The situation? You have everything, but nothing to show for it.
Profligate Hedonism: The Antithesis to Wealth
Consider making $200,000 a year, after tax. Plenty of money that?
Think about not saving a cent.
Buy yourself a Porsche on loan. Get another loan, and get a top-flight penthouse. Dinner, every night, at a posh restaurant, running up at least $100 each night. Fancy, expensive designer whatevers? Get the lot. Your bank account consistently has less than $1000 in it.
The situation? You have nothing, but you have everything to show for it. But heck, is it fun or what?!
GAH, WHAT DO I DO?!
At the end of the day, wealth building and the enjoyment of wealth appear diametrically opposed. There naturally needs to be a balance of in vs. out. The facilitation of a lifestyle beyond that of wealth generated has been financed via credit for eons, but this has naturally led to the current credit crunch, as we all can plainly see. Avoiding your own personal credit crisis is favourable in these times, but it is a banal piece of advice parroted through the ages, only because it is so exhaustively true. Ah well, this is what we can do:
- Minimalism is chic
- Less is more
- Location, location, location
