I'm wealthy and unsuccessful

[Stablexcoin]

What is your definition of success and wealth? cause from the topic, i really don't get how you're wealthy yet not successful

It's rather a provocative title on what others think of me.

In my eyes I'm already wealthy because I can satisfy all my needs without having to earn more.

And I'm not frugal at all.

You see, this is all subjective. Be satisfied with what you've got and don't fall for the never enough mentality.

An average class earner is capable of satisfying his/her needs without having to earn more.

What makes you wealthy is whatever you have acquired, it has to be both in asset, properties and income.

An average earner can own a car, own a building and also entertain some of his wants when he plans for them but someone who is wealthy can provide all of these within a short time even without doing major planning, if you are really wealthy as you say without owning any property that means you don't know how to enjoy the good things of life, being wealthy is a privilege not everyone who works hard become wealthy.

[justdimin]

I don't know why exactly your friend asked if you have a car but there are some business that required you to have car, it package you and your business to your clients. If that's why he was asking an feels there is a need, then he is right but if they are asking because they know you are doing well financially then they don't know what financial brilliant is about, they afr financially ignorant and they want to sink you to their own hole of no return, don't think about their questions.

I can be wealthy and doing well but it doesn't necessarily mean I have to copy another person lifestyle or what other people thinks about wealth. When I was struggling to put things in order and make my investment successfully, there wasn't anyone and nobody was there with any suggestions to make it successful. Now that you are doing well, they now think they have a say in what you are going to do, then that's very wrong of them, I will advice you to ignore them.

Liabilities and assets are different. A car can be an asset, if you use it for work, you do not have to even use it FOR work, you can use it to go and comeback from work and that can still be profitable. Because on the long term, you have an item, that pays for itself, since you already had to spend some money to go to your work anyways, you have to realize that while the car does lose value, that difference is what you should be spending anyway. Math is this, let's say you got a car for 30k, and in 5 years, you sell it back for 20k, it did lose value but inflation happened so it's a bit better etc.

Now you are in 10k loss, correct? If you would have spent 10k on transportation in 5 years, that means you made a profit by having your car. Plus, if you also used it for work, then it automatically becomes asset, like get a pick up truck to carry stuff etc.

[ozgr]

If you have the funds for a car get it. The problem is peoples idea of a car. A car is necessary if can afford it as an adult. It can help you save time getting from one place to another and also make your life easier. What are you making money for if you can’t at least make your stress simple. You don’t need to own a luxury car just one that is neat and comfortable.
If you don’t have the money to get a car or a house then I understand you but if you can comfortably get one but see it as a bad move you need to have a rethink.

A car is clearly a necessity. Imagine having to take your pregnant wife to the hospital and having to wait for a taxi when there's no one available. If you have a car, you can always get where you want. If you've worked hard and saved up, a car is essential. It shouldn't be expensive or flashy, but it should get you where you want, whenever you want. A car is always essential.

If I had a priority, I would definitely buy a house first. But as you said, having a car is absolutely necessary.
Even just getting in the car and driving around a bit when we’re bored or stressed lifts our mood.
Getting away from your surroundings and seeing different things makes you feel better. Even just having the car key in your pocket feels good psychologically.

[Asiska02]

Then got on to other topics. "So what car do you have?" I told em, I dont have a car. "Fuck it bro, at least did you travel the world?" - Not yet. With 3 questions and 3 answers, I made their whole world view collapse. "Are you even wealthy bro?" Yessiriam. I consider myself wealthy. What makes a man wealthy? Having options. If I'd like, I could buy the house, buy the car or travel the world. I didn't because it's not financially the right decision, at least it wasn't at that moment.

Humans have their different definitions to what being wealthy means, what one may call wealth will have to be something luxurious to the eyes to see and body to feel, but to some, it is far beyond this that one can even imagine and put in the category of being called wealthy. Good health, happiness and daily sustenance is viewed as the biggest wealth one can have and many people believe it to be so. It is good to be free from debt than claiming to have properties to your name, you will one day sell them off to pay those loans. Living a life of contentment it the best.

And I see this everywhere. The four of us in the room all came from the same school. Same age. Same opportunities. Three wheeling in heavy debt, trynna keep it up with side hustles. One with a positive balance who never needs to be a corporate slave again.

That’s better rather being a corporate beggar. Hustling to meet ends meet and to avoid debts is very important. Working yourself to become a better version of yourself despite the many troubles hindering you achieving your long term goals is the best. Things gets better with time, just have a positive and determined mindset towards what you wish to accomplish in this life.

[Maslate]

Wealth isn’t always the definition of success, so I get why you say you’re not unsuccessful just because you haven’t reached your goal yet. For some people, even if they borrow money and drown in debt, as long as they have the house and car they wanted, they’ll already call themselves successful. That’s their choice and we can’t really do anything about it.

But if someone has an entrepreneurial mindset, success is different. We invest in things that generate income. Debt isn’t really a problem as long as it’s considered “good debt,” meaning we use it for assets and not liabilities. Buying a car or house through a loan is fine if it works as an asset, but if it’s just a liability to flaunt, then that’s where the problem starts.

Well said. Being wealthy won’t make you guaranteed successful, there’s still a long way to go before you can tell yourself that you’re finally successful by all means. That is from a business minded person. But we can’t stop others from insisting their own views and insights as well, that’s also where they find theirselves successful even for us, it’s just being materialistic, not actually successful when it comes to generating active and passive income.

[Ziskinberg]

That's how people view how wealthy and successful a person is, through material possessions. Owning a house, a car, and being able to travel the world. I understand your point OP, that wealth doesn't really come from material things. And if you happen to accept that you're wealthy, it's actually how you view the world. If you economically think that not owning a car is fine, then that's fine. You don't need any validation from these people who happen to pay mortgage and car payments, which makes them cringe when the due date is near. At the end of the day, it's how you live your life. If you happen to enjoy it with or without those things, as long as you're not drowning in debt, I guess that's one of the definitions of the real financial freedom and success.

Financial wealth is mostly gaining misconceptions. Some just see it as merely buying house and lot, cars and different assets, and they find theirselves already wealthy and successful, even if they know they are drown in debt. However for me, the real wealthy and successful are those who stay silent behind their achievements and success in life. No need for validations, because we don’t live for others but we live for our own selves.

Don’t let others define you. If you know you are wealthy and successful on your own, then continue doing it and moving forward. Focus on positive and constructive motivations, do not dwell on people who have opposite views from yours.

[Yaunfitda]

If you have the funds for a car get it. The problem is peoples idea of a car. A car is necessary if can afford it as an adult. It can help you save time getting from one place to another and also make your life easier. What are you making money for if you can’t at least make your stress simple. You don’t need to own a luxury car just one that is neat and comfortable.
If you don’t have the money to get a car or a house then I understand you but if you can comfortably get one but see it as a bad move you need to have a rethink.

A car is clearly a necessity. Imagine having to take your pregnant wife to the hospital and having to wait for a taxi when there's no one available. If you have a car, you can always get where you want. If you've worked hard and saved up, a car is essential. It shouldn't be expensive or flashy, but it should get you where you want, whenever you want. A car is always essential.

If I had a priority, I would definitely buy a house first. But as you said, having a car is absolutely necessary.
Even just getting in the car and driving around a bit when we’re bored or stressed lifts our mood.
Getting away from your surroundings and seeing different things makes you feel better. Even just having the car key in your pocket feels good psychologically.

It's really very hard life if we don't have that two necessities, although there could be arguments against them, but for me we needed that. You can buy a cheap car for those who don't want to spend a lot of money, at least it will serves it's purpose to make your life easy traveling from one play to another. Of course, a home to you and your family, this is very important as well. It's hard to live frugal life, and actually everyone doesn't want to be in that situation. So if given the chance then it's better for the OP to buy those two as he has said, he had wealth so spend it wisely and see yourself as successful, it's all in the mindset.

[coupable]

Inwas expecting to read where you mentioned the assets you own, since you have not mentioned any value-added assets in your possession and if you have none, i think your friends who you said are in so called debts but with liabilities like owning a home and a car, with their family are well successful much more than you that traveled and spent alot of time in the city's.

You also have to make a clear definitions pf what you take as wealth and success, since it sounds as if yij dont really understand the concept.

I think all of you guys don't understand the concept of satisfaction which is mainly related to self happiness. You and many others think about enjoying wealth by spending money on confort life elements like buying a car and owning a house or whatever even by getting in debt, while others may not see it from the same angle. Me personally i don't own a house (still live in rent) and i don't have my own car (i hate driving and even have phobia from car accidents). Does this mean i am not that happy enough compared to the way others may think? If you don't need something, don't buy it. If you are happy with donating money to poor people instead of spending it in luxury stuff, just do it. Everyone has his perception of life satisfaction and money utility. I can consider myself happy because i have all what i need to live in peace and have no debts.

[Sanitough]

Inwas expecting to read where you mentioned the assets you own, since you have not mentioned any value-added assets in your possession and if you have none, i think your friends who you said are in so called debts but with liabilities like owning a home and a car, with their family are well successful much more than you that traveled and spent alot of time in the city's.

You also have to make a clear definitions pf what you take as wealth and success, since it sounds as if yij dont really understand the concept.

I think all of you guys don't understand the concept of satisfaction which is mainly related to self happiness. You and many others think about enjoying wealth by spending money on confort life elements like buying a car and owning a house or whatever even by getting in debt, while others may not see it from the same angle. Me personally i don't own a house (still live in rent) and i don't have my own car (i hate driving and even have phobia from car accidents). Does this mean i am not that happy enough compared to the way others may think? If you don't need something, don't buy it. If you are happy with donating money to poor people instead of spending it in luxury stuff, just do it. Everyone has his perception of life satisfaction and money utility. I can consider myself happy because i have all what i need to live in peace and have no debts.

People may live in luxury homes and driving luxury cars, and eat in luxury restaurants, but I don’t think all of them find satisfaction on what they’re currently doing. And if ever they are, their satisfaction is just temporary, once they lose their assets, they will never be happy then.

However, others don’t adopt the same mindset and perspective. Personally, I don’t flex whatever achievements I got, be it material or not, that’s because I’m not used to it. I’ll stick to what is low key, and focus silently on pursuing my dream investments and assets for my future retirement.

[Wiwo]

People may live in luxury homes and driving luxury cars, and eat in luxury restaurants, but I don’t think all of them find satisfaction on what they’re currently doing. And if ever they are, their satisfaction is just temporary, once they lose their assets, they will never be happy then.

However, others don’t adopt the same mindset and perspective. Personally, I don’t flex whatever achievements I got, be it material or not, that’s because I’m not used to it. I’ll stick to what is low key, and focus silently on pursuing my dream investments and assets for my future retirement.

Because someone is driving big cars and also living in a big houses doesn't mean they are actually showing off their wealth or trying to show their satisfaction via material things, yes wealth and material things givea us happiness amd sense of fulfillment and that can be bear satisfactions.

But i still believe that satisfaction goes beyond having the financial ability to buy whatever you want and give yourself whatever life you wish, sometimes satisfaction goes beyond what we can see or touch.

[Felicity_Tide]

~snip

And I see this everywhere. The four of us in the room all came from the same school. Same age. Same opportunities. Three wheeling in heavy debt, trynna keep it up with side hustles. One with a positive balance who never needs to be a corporate slave again.

The world is filled with too many people with this type of approach towards life. Only a very few can tell what is good for him/her. People don't understand the fact that driving a good car and living in a big house does not actually tell the true financial capability of a person. I have heard of several funny stories of people that chase after this good things, while living in a financial mess just to keep up with the lifestyle. I'm not saying that these things are bad, moreover, there are part of necessity, but for a person who completely understands his/her financial capability, there ought to be some boundaries.

My only advise to you OP, is that there shouldn't be any form of intimidation. Besides, I see no reason why they should have high expectations for you when they clearly didn't offer any assistance in the first place.

[coupable]

Inwas expecting to read where you mentioned the assets you own, since you have not mentioned any value-added assets in your possession and if you have none, i think your friends who you said are in so called debts but with liabilities like owning a home and a car, with their family are well successful much more than you that traveled and spent alot of time in the city's.

You also have to make a clear definitions pf what you take as wealth and success, since it sounds as if yij dont really understand the concept.

I think all of you guys don't understand the concept of satisfaction which is mainly related to self happiness. You and many others think about enjoying wealth by spending money on confort life elements like buying a car and owning a house or whatever even by getting in debt, while others may not see it from the same angle. Me personally i don't own a house (still live in rent) and i don't have my own car (i hate driving and even have phobia from car accidents). Does this mean i am not that happy enough compared to the way others may think? If you don't need something, don't buy it. If you are happy with donating money to poor people instead of spending it in luxury stuff, just do it. Everyone has his perception of life satisfaction and money utility. I can consider myself happy because i have all what i need to live in peace and have no debts.

People may live in luxury homes and driving luxury cars, and eat in luxury restaurants, but I don’t think all of them find satisfaction on what they’re currently doing. And if ever they are, their satisfaction is just temporary, once they lose their assets, they will never be happy then.

However, others don’t adopt the same mindset and perspective. Personally, I don’t flex whatever achievements I got, be it material or not, that’s because I’m not used to it. I’ll stick to what is low key, and focus silently on pursuing my dream investments and assets for my future retirement.

Our perception to the world and our lives depends on the economy model we are living with. This is what we learnt from Karl Marx about Capitalism that push individuals to think about satisfaction/happiness in life only by spending more to consume more. Even those who consider happiness in just satisfying basic needs, will never hesitate to buy a Rolex watch worth thousands of dollars in an opportunity deal despite they don't need to check what the time it is every hour (main function of a watch).

[PX-Z]

Cars aren't really liabilities if you buy and use them for business purposes, for example, car rentals or TNVS services. The same goes for houses, if you make them rentable or list them on Airbnb, they become assets instead. It all comes down to perspective.

You might have enough money to stay debt-free, but if you don't utilize that money to generate passive income or invest in a business, it will just sit there as savings, slowly losing value due to inflation.

[uneng]

And I see this everywhere. The four of us in the room all came from the same school. Same age. Same opportunities. Three wheeling in heavy debt, trynna keep it up with side hustles. One with a positive balance who never needs to be a corporate slave again.

Then feel proud for yourself and for what you have truly achieved, without being in debt (the most important aspect of your financial life). You know your limits and until where you can go on the present moment, so that is a wise and smart mindset you have. It doesn't mean you won't be able to own a house, a fancy car or to travel around the world. It just mean the time for those deeds hasn't come yet.

The biggest problem of paying attention to someone else's life is that the individual ends getting into despair because he doesn't have what the thinks his neighboor or friend have. He wants to reproduce a hypothetical reality he just knows from the screen of his smartphone, through social medias' apps.

Focus (on your own journey), patience, determination and self-awareness are the key.

[Jewan420]

Then why do you call yourself rich? If you don't use money, it's just a piece of paper. And no one ever gets rich with a piece of paper. If you can afford to buy a house, you should buy a house, if you can afford to buy a car, you should do that. If you are not interested in a luxurious life, you should do charity work. If you are not willing to spend money, don't call yourself rich.

Nothing in excess is good, be it spending or saving. I will not stand by you and I will not stand by your friends who are living a luxurious life on loans. You should arrange your life according to your ability and enjoy it. What is the use of earning money if you don't enjoy it? Money has value only when you spend it, otherwise it is worthless.

[laijsica]

That's how people view how wealthy and successful a person is, through material possessions. Owning a house, a car, and being able to travel the world. I understand your point OP, that wealth doesn't really come from material things. And if you happen to accept that you're wealthy, it's actually how you view the world. If you economically think that not owning a car is fine, then that's fine. You don't need any validation from these people who happen to pay mortgage and car payments, which makes them cringe when the due date is near. At the end of the day, it's how you live your life. If you happen to enjoy it with or without those things, as long as you're not drowning in debt, I guess that's one of the definitions of the real financial freedom and success.

Financial wealth is mostly gaining misconceptions. Some just see it as merely buying house and lot, cars and different assets, and they find theirselves already wealthy and successful, even if they know they are drown in debt. However for me, the real wealthy and successful are those who stay silent behind their achievements and success in life. No need for validations, because we don’t live for others but we live for our own selves.

Don’t let others define you. If you know you are wealthy and successful on your own, then continue doing it and moving forward. Focus on positive and constructive motivations, do not dwell on people who have opposite views from yours.

Financial wealth does not always create false perceptions. How you use your wealth depends on how realistic and visible it is to you. Most rich people have debts to banks but at the same time have a lot of wealth. This tendency is common among most rich people because after they have one asset, they try to create another asset by putting that asset as collateral and financial institutions trust such people more and give them loans. As they get into the debt trap they start owning a lot of wealth.

I think the real rich are the ones who are debt free and have been building wealth through earnings. Yes, if someone wants to build wealth through this process, he has to spend a lot of time but I think this is the ideal strategy. Trying to get rich in a short time can make you greedy and more likely to make bad decisions. And more likely to become poorer instead of financially secure.

[Oshio-man]

You have to be satisfied with your wealth so that it will not lead you to wealth that will make you feel or think you are wealthy and successful with what you have achieve from your investment, i know you can be wealthy and not successful in your investment, base on one challenge that is making you not to be successful whenever you are approaching your target and the price of the market will not come as you wish,  investment knowledge can help you break such challenge to improve to become wealthy and successful but for you to confirm if you are wealthy and successful, wealthy will come from your income you are making daily or weekly to secure some assets that will make you confirm you are wealthy and successful in your investment.

[Marvelockg]

Car is not a liability. Getting a house of your own is not a liability and traveling around the world if you're financially disposed to it is not also bad. There's a way one can build wealth through these means and certainly, the way the society generally measures wealth is based on who has these kind of things.

If you're actually wealthy, then rather than seeing a car is a liability, you should actually consider it a necessity because it makes life way easier. Even if you're considering getting an expensive car for instance, the people that still buys such cars do so with the option of likely selling it out in the future for more gains. That's the reason why people buy multiple of cars.

If after spending all your active years hustling in the city you can't boost of at least a car, house , or a decent asset, you sure don't have the right to think of yourself as one that's rich.

[Despairo]

You might have enough money to stay debt-free, but if you don't utilize that money to generate passive income or invest in a business, it will just sit there as savings, slowly losing value due to inflation.

I'm sure @OP invest his money because his mindset is looking for something that the value will appreciate.

Unfortunately, investment alone aren't enough. People might invest their money in Bitcoin for long term like 4-8 years, but if they don't have a high income skill, overtime their investment will decrease because they keep withdrawing their investment to survive.

This also applies to asset which give annual interest, if people think just using the annual interest to live is free, but they forget with the inflation.

[Egii Nna]

So I moved back to my rural hometown after long years of building a career in the capital city, met up some friends I haven't seen for ages. Hanged out, got to my story and their first question was where did I buy my house. I told them I didn't, I'm in a rental property like I've always been. It was strange at first but then I realized I was their idol, the "rich guy who made it". Then got on to other topics. "So what car do you have?" I told em, I dont have a car. "Fuck it bro, at least did you travel the world?" - Not yet. With 3 questions and 3 answers, I made their whole world view collapse. "Are you even wealthy bro?" Yessiriam. I consider myself wealthy. What makes a man wealthy? Having options. If I'd like, I could buy the house, buy the car or travel the world. I didn't because it's not financially the right decision, at least it wasn't at that moment.

You are not rich nor wealthy yet, if you still think buying a house of your own or a car of your own is a financial mistake. There are some opportunities in this life that you can’t get, or you might miss them, due to not having a good car. Even though you are an investor or a holder of Bitcoin, you still need some certain things in your life, so that at least you will feel you have achieved something different. But staying in a rental apartment or house is not a sign of a wealthy person or a rich person. Unless, for instance, you had a hotel that belongs to you, then you have some part around there that is your main residence, then that will be understandable. But still, you might lack peace.

So, what I want you to know is that your friends are right to be disappointed in you, as the most successful among them, and still you haven’t achieved anything yet in life, while you see yourself as a wealthy man. To break everything down, it is either you are still struggling to be there, or you are a very stingy person.