Stock Markets
Daily Stock Markets News

Signs You’re Wealthier Than You Think

One of the main reasons many people don’t realize how wealthy they are is because they compare themselves to others, said Michael Kay, author of “The Feel Rich Project” and president of Financial Life Focus. It’s easy to assume someone is rich if you see him living in a big house, driving a nice car or belonging to a country club. But looks can be deceiving.

“You can’t know what someone’s true wealth is unless you’re looking at their net worth statement,” he said. For example, you might assume that, compared with an attorney and doctor, a mechanic isn’t as well off, Kay said. But the mechanic might be the wealthiest because he’s careful with his money and isn’t trying to impress anyone with status symbols.

“At the end of the day, wealth is self-defined,” he said. For example, if you say to yourself that you won’t consider yourself wealthy until you have $5 million, ask why you’ve chosen that number.

Learn: 7 Harsh Realities of Being a Millionaire

Read More: Signs You’re Wealthier Than You Think

Notify of
Inline Feedbacks
View all comments

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.