The Risk Of Fake Wealth | Fake Rich

Things you do to fake that you are wealthy, are things that will most likely make it so you can never be rich. I will tell you the 5 main things people do to fake wealth and how it cos them wealth.

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1. First Where They Live
– They focus on neighborhood
– Safety
– School zone

Truth
– But in reality it’s more like status
– How the house looks
– How big it is
– And especially that it’s bigger than your neighbors

In September of 2023:
– The average home sold was about 412k
The average down payment is about 15% ( but let’s be real a lot of people just get an FHA, or put down 10% )
– That’s about $2200 per month if you have good credit

Here is why this Flex is terrible:
– The point of buying a home is to pay it off
– Homes are not investments
– The more expensive it the longer it’ll take to pay off
– And a home can hold you in bondage for years

2. The Whip or the vehicle
– A lot of people lease cars ( one of my friends did this, once the lease was over he had nothing )
– Finance car for 6-7 years ( how does it make you rich when you can’t even afford a car to pay for )

The funny part:
– Luxury vehicles are often the least reliable
– Most expensive to maintain
– And expensive to repair

The average car payment I think reached $700
– A lot of guys buying trucks to go to their office jobs, I don’t get it

3. The Clothes you Buy
– I bought this shirt at Marshalls probably $10
– A lot of shirts I have are from goodwill
– And a few others are from Costco
– You are not what you wear

Here are some flexes:
– Having more than 15 pairs of shoes
– A closet of t-shirt and jeans
– Clothes you never wear
– It’s all so stupid

I learn while living in New York:
– No one cares
– Spending $100 on a pair of shoes is crazy, $100 on a t-shirt insane, $100 on a watch is ridiculous (it’s crazy)

Tip: don’t surround yourself with people who have spending problems, you’ll start thinking this Is normal

4. Where they Go and Frequent
– Vacations
– Eating out all the time

Vacations are not bad
– But do you need to spend all that money
– Do you need to post everything you eat

I knew someone:
– They spent $500 on a dinner for himself and his wife
– It’s crazy

5. What they believe
– I won’t go into a lot of details
– But these people tend to be materialistic
– In a fantasy world ( where they expect positive results by doing bad things )

6. Look out for lifestyle inflation
– These things will prevent you from ever getting rich
– Beucase you will be constantly spending more money than you make
– You don’t want that

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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