Well, money nerds, we’ve reached the end of another week. Before you all wander off to your various enjoyments, I have one last batch of money links for you.
To kick things off today, I’ve got a podcast for you. I rarely link to podcasts (because I don’t generally listen to podcasts) but today is an exception because the show includes two of my favorite colleagues: Brandon from Mad Fientist and Ramit from I Will Teach You to Be Rich.
Here’s their conversation about how to spend money (and actually enjoy it):
A quote from Ramit:
The point of living a rich life is not to save money. It’s not. The point of a rich life, in my opinion, is to design a rich life that excites you and then use your money to live as meaningful of a life as you can. So I’m all for a high savings rate and aggressive investments and earning more. I’m totally for that. But there’s another side of the equation that too many people ignore and that’s what I’ve been very excited about.
Okay, here are the other stories I have for you today:
Being poor vs. feeling poor. [More to That] — “One interesting phenomenon that’s been occurring in the United States is that poverty has been decreasing while incomes amongst the wealthiest have been increasing. At first glance, this may seem like a win-win. If more people are escaping poverty and the wealthy are earning more, doesn’t that seem like a non-zero-sum game? Well, the answer is no, and there are two reasons for this.”
The secrets of stealth wealth. [Financial Imagineer writing at Physician on FIRE] — “Imagine if you’re filthy rich but don’t want anyone to know. That’s why some people lead seemingly ordinary lives while driving average cars and seem to be middle-class, while secretly being wealthy. This is called stealth wealth, and it might just be the wisest decision anyone can make with money and wealth.”
Should young people save less and spend more? [A Wealth of Common Sense] — “As your income increases you begin to spend more money and get used to your new lifestyle. You gain responsibilities as you age. Maybe you get used to some of the finer things in life. It can be extremely difficult to flip the switch and start saving once you get used to a certain level of spending. It’s also much easier to live a more frugal lifestyle when you’re young.”
And that’s all I’ve got. Jim will return next week with more. I’ll be back in ten days with another glimpse inside my bizarre brain. 😉