Episode 6: Living Like the Smiths to Keep Up with the Joneses
Nov 15, 2019
There are a lot of people living what looks like a “picture perfect” life on the outside: Nice cars, nice house, trips with no expense spared. But do you know what the financial health of your neighbors really looks like? You’d be surprised. The majority of people are mortgaged to the hilt, have no financial liquidity, and might even have a negative net worth. In this episode, Adam takes some punches at those who are living like the Smiths to keep up with the Joneses.
Here are just a handful of the things that we'll discuss:
- Why personal contentment is the single most important attribute to building a proper net worth.
- What it means to be a Millionaire Next Door and why having a healthy level of paranoia is a very good thing.
- Why living a life of frugality and saving can be a Catch-22 and how you know it’s time to stop delaying gratification—you don’t want to be the richest person in the cemetery.