[Music] so the idea of being undercover rich is kind of trending right now you'll hear quiet luxury or stealth wealth or old money aesthetic like all of that is just like what the internet is loving these days because it's this idea people that are like really financially secure and Wealthy don't feel the need to flash you know all their lifestyle with labels and all this stuff for the world to see so I saw an article on this topic recently and I thought some of their points actually match the ramsy baby steps so today I'm going to share and react to this list plus a few insights of my own as we talk about this kind of concept if you will of being wealthy but not always flashing it now before we get started make sure to subscribe and share this episode with a friend all right the first sign that someone is a quiet millionaire is that they're not living paycheck to paycheck so again you may not see it it may not be out in the open but for sure when you become wealthy you're not dependent upon that next paycheck to get by so the margin is great and you can get there by living below your means right having a budget and actually learning to get out of that cycle but you can definitely tell someone is like doing well if they're not needing that next paycheck to get by number two is that they're not anxious about upcoming expenses and I think what that means which makes sense is that they have an emergency funds they have cash available and If upcoming things are coming expenses maybe they know or don't know they they have the ability to cover them so again when you are paycheck to paycheck and don't have savings it's like any little thing that comes up could feel like this crisis right it takes you completely out of orbit but these stealth millionaires if you will they're not worried about all that stuff because they probably have planned they have put money set aside which is great so again having an emergency fund for upcoming expenses for the unexpected is key but then also planning for upcoming expenses ahead of time being proactive so whether that is big expenses is like replacing a car or a vacation you know something big that you're planning ahead and that's where the budget comes in for you to be proactive which is wonderful all right the Third Way You Can Tell is that they invest their money wisely and I this was really great when you talk to a lot of people who are wealthy over time very few of them just kind of like randomly made one decision and it just you know made Millions right it is this consistent lifestyle of saying Hey how do I best use my money to make money because that's really one of the secrets secrets I say is when your money is making money like that is a great part that's where investing does come in and so they're investing their money wisely they're not flipping about it they're probably actually very wise and slow to make decisions on what they're investing in and when you get to this point of having no debt in a fully funded emergency fund this is when you can start doing this and you can invest 15% of your income into retirement and we have found through our own surveys that majority of millionaires you know really gain that millionaire status by paying off their house but also in traditional Investments like their 401K at work so consistently investing will allow you to actually build a lot of wealth and speaking of wise Investments investing into your online protection is crucial and this is why I love delete me onethird of the US population's background info is now public so for 115 million of us data breaches mean that our info is just out there for anyone to find and this is stuff like our names and addresses and phone numbers and more so that is why I love and use delete me because they find and remove your information from hundreds of data broker websites that buy sell and trade your personal data so take control of your online privacy with delete me individual delete me plans start as low as $9 a month so sign up today at join Del me.com Rachel for 20% off or just click the link in the description all right number four is that they value experiences over material things so the fact that this was on a list made me I just loved it honestly it made me so happy because we do talk about the idea that stuff is okay right so I we are not against stuff so material possessions that does not equal evil things right so getting a great purse or car like whatever the thing is that you want you save up and you pay for it that is great but you have to understand that why you are doing it your motivation behind buying those things is what's really key and the hard thing is is that we are a culture that is obsessed about the material possessions and so it's like you almost kind of put your hope hope in this thing that's going to longterm make you happy or you believe like it's going to make me feel a certain way or be a certain thing and what you realize is when you actually start buying those things again they're not bad but your motivation of doing it ends up being really negative right the result of all those things is not what you expected and so you have to really buy those things with an open hand to say yeah if I have it great if not no big deal you're not putting so much stock into material things so I do want to say that that it's okay to have nice stuff just don't like your nice stuff have you and it can have you when you go into debt for it and when your identity your hope your happiness your joy is wrapped up in a thing because Studies have shown time and time again that that does not bring long-term happiness stuff it doesn't now experiences on the other hand actually do bring a level of Joy when you experience things with people you love there is something about the richness of life and the joy of life that is very real and that's been proven so I love that that's on the list experience over material things number five is that they're generous and we see this a lot and again this may be quiets it may not be out in the open but there are a lot of people who have you know earned and worked for and created a lot of wealth and what they do with it is absolutely incredible and so there is something about living with that open hand that is key and we see that happens not every wealthy person does this right I'm not saying that um but I do think those that live with a level of Peace in their life where money is not an idol there's something about that open-handedness and so where you are are in your personal finance Journey regardless if you are living paycheck to paycheck or maybe you are you know on the wealthy end of it be giving let that be a rhythm in your life because that will continue to magnify who you are as you start to build wealth all right number six is that they're not driven by status symbols so we talked about you know earlier how like yeah the stuff is not bad but this is key for wealthy people when they actually realize okay I'm not going to be driven and my motivation is not so I go and look impressive because there is something about this idea that like the more stuff people have or the more labels the more they're trying to impress you and I feel like you can kind of get a feeling of people like that there is a level that you're like okay but but you're you're an okay person like who you are genuinely just who you are is enough like you're good and so even that quote which I love confidence is quiet insecurity is loud and there are some loud people that again I think we will experience that you're like you're okay you're okay but there's something about not needing to continue to impress which is a really beautiful quality and what we have found again with wealthy people is that they aren't driven by status and I think cars is one of these places that a lot of people think like oh my gosh if I just get this car people are going to see me a certain way and they want to be viewed in that light so according to the National study of millionaires the two most common brands of cars that millionaires drive you ready for this Honda and Toyota yep Great Cars not the most flashiest or most impressive but they're good because again millionaires they're not worried about it they are not worried about it okay number seven is that they value quality over quantity and this is uh I definitely am I could get better at this cuz I do like quantity I like options in my stuff but they do appreciate quality items they actually see something and we'll have the patience to wait and buy the actual thing that's going to last a long time versus something that's cheap just to kind of scratch that itch now if you are living below your means and you're investing in things that will last um be doing that because that's going to help you not be a victim of constant consumerism if you continue just to run and run and run and consume consume consume it is hard to build wealth when you do that because you're spending a lot of money versus saying hey I'm going to be looking at the quality over the quantity and that's helpful but again I'm I'm saying this to myself too people trust me and number eight is that they have a long-term financial plan for a lot of people that build wealth it doesn't just happen they don't just wake up and they're like oh like look at all this money that I have no they have a plan they look and they see okay in the future in the next 5 10 15 20 years what am I doing with my money right I'm actually going to be proactive and choose what my money is going to do versus just living in the moment right so there's something about this planning that can feel boring it can feel kind of constrainted or like oh I I have to stay in this plan and it's not as exciting and fun but over time it's amazing understanding the amount of peace that comes with actually being proactive in this area of your life CU for so many people they don't they just have a feeling and an emotion and they act on it and they move on and so much money is wasted during those moments so making sure you have your priorities in order you know what you're doing and honestly there are so many plans out there but one of my favorites is the baby steps and if you've not gone through Financial Peace University this is a great course to go through it's nine lessons but it talks through the seven steps of how to get in control of your money how to get out of debt how to build wealth and do everything that we're talking about because again it's this idea that you're you're working a system you're working a plan you're not just going off of this emotion in the moment and so if you want to check out FPU I will leave a link down below uh but it is a great course to dive into to get a lot of tips and um this method of Building Wealth now if you want specific tips for how to budget to build wealth make sure to catch my episode four ways you're ruining your budget without realizing it you can click here or if you're listening on podcast I will leave a link below all right you guys remember to take control of your money and create a life you love
