That doesn’t mean you should decorate your home with cheap plastic lawn furniture, forgo cable TV and dine on mac and cheese every night. But do you really need to buy a car that’s so expensive, or do you have to have that 60-inch, high-definition TV right now?
Many people who choose wealth over stuff wouldn’t consider spending money on the “latest and greatest” because they know their money can be put to better use elsewhere.
Buying a “liability” would probably cause them stress because they’d rather buy an asset — something that will appreciate over time and give them a return on their investment.
Flurry says he has a hard time getting some of his older clients to spend their money.
“They’ve been savers all their lives and the thought of spending $5,000 or $10,000 on a vacation is ridiculous,” he says. “It doesn’t matter that they’re worth $3 million.”
With help from those who advise people already at or over the million mark, we’ve come up with these seven steps to becoming wealthy.
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