Hey have you ever seen millionaires driving around in Ferraris, wearing Gucci scarfs and rocking Louie V. sunglasses every day of the week? Do you stop to notice that the only people who are flashy are the TV entertainers because they are getting paid to promote a brand? Well I believe people who are flashy all the time in regular neighborhoods, are not making a living as entertainers in the public eye thus living above their means. People with self made wealth do anything possible to stay under the radar for the most part. I can attest that most millionaires care more about continuing their high income and assets far more than living a flashy lifestyle.
What experience have you witnessed with someone who is always flashy? Buying the latest things, just to say they have something new. Trading up cars every 2 years, because they want to impress others. I cannot shake the feeling that those people always being flashy equals them living above means.
The standard definition of flashy is -stylish and expensive-looking in an obvious or ostentatious way.
Always being Flashy Equals Living above Means
-Millionaires with real wealth are not looking to impress others
-Millionaires might drive a nice Maserati, but it is a small % of Net Worth
-Millionaires care more about leaving a legacy than about being flashy
-Real Wealth transforms people to act responsible or irrational (Which side will you be on)
-The millionaire next door reached millionaire status in 17 years; do you think they will waste it now to be Flashy?
-Millionaires buy a house that is less than their Net Worth, not 3 times what they are worth
-Millionaires own stocks of companies, instead of having the companies own them
-Millionaires value the compounding effect of money above being flashy
-Flashy individuals can only be flashy short term or else they will run out of funds
-Flashy individuals run the risk to outlive assets, and then they have to start all over building riches.
-Flashy individuals can never be satisfied, as there will always be a new thing they have to get.
-Flashy Individuals do not want freedom as they will always have to work to maintain that lifestyle.
Obviously if you want to live life like a sultan with your lottery winnings then more power to you. I wish you the best of luck, but statistics show that most lottery winners lose their wealth in a matter of 5 years. It could be an emotional trigger for some people to live that lifestyle, but I believe that we all should evolve and learn financial lessons every day. All that attention you are attracting will not bring you any joy or happiness.
What it usually does is attract people who just want to get a free ride off your short term riches. Do you want to have 5 dependents who are not your kids, always looking for you to pay to play in an imaginary 1% environment? Once the ostentatious lifestyle runs out, the leeches will leave because your means cannot support them any longer. Well if you are smart you will build wealth at your own pace, maintain income, avoid being flashy, give to charities, and stay modest.