The Illusion of Affluence

Aug 16

Ever wondered about the difference between being rich and being truly wealthy? In this episode, Matt and Brad delve into the world of wealth, riches, and the perceptions that surround them. Drawing inspiration from The Psychology of Money by Morgan Housel, they explore the difference between being rich and being wealthy—and why it's essential to understand this distinction.

Listen in as they discuss why it's crucial not to judge financial status based on appearances, as well as the pitfalls of comparing oneself to others. You’ll learn how true wealth often remains hidden and how spending money to flaunt can ironically lead to having less in the long run.

What You’ll Learn:

The difference between being rich and being wealthy.
Why we shouldn’t judge financial status based on appearance.
The importance of not comparing yourself to others.
Why wealth is often hidden.
How spending money to show off can lead to less money in the long run.

Ideas Worth Sharing:

“When most people say they want to be a millionaire, what they actually mean is ‘I'd like to spend a million dollars.’ And that is literally the opposite of being a millionaire.” - Fiat Wealth Management
“Comparison is the thief of joy.” - Fiat Wealth Management
“The world is filled with people who look modest, but are actually wealthy, and people who look rich, who live at the razor's edge of insolvency.” - Fiat Wealth Management