income needed to support the
lifestyle I had grown accustomed to
all my life.
To others in my profession, this
new found income brings a whole
new lifestyle: bigger houses,
impressive cars, fancier clothes,
expensive tastes. It is not
uncommon to fall into this trap.
Let me be completely honest;
there was a little bit of a “lifestyle
bump” upon actually making
money. Part of it was I felt there
was a small reward due to myself,
my wife and my kids for getting to
this point.
You have probably felt the same
way at some point. No matter
your profession, getting to where
you are today required some
hurdles to overcome, some
barriers to break through. Of
course, you are entitled to a small
reward at the end.
Down to earth folks understand
the meaning of a small reward. As
discussed in the Millionaire Next
Door, a lot of those with money
don’t show off their wealth. Sure
they’ll buy nice things, but they buy
nice, inexpensive things.
Never would some of today’s
millionaires be caught dead
buying expensive boats or flying
in private jets.
Going from not making money to
finally making money is really eye-
opening. My philosophy is to
“hide” it so to speak from my bank
account. Before it reaches my
checking account, my income has
“ This new found
income brings a
whole new
lifestyle: bigger
houses, impressive
cars, fancier
clothes... It is not
uncommon to fall
into this trap. ”
Another $econd Opinion, MD
been divided amongst retirement
accounts, 529 plans and a savings
account for emergencies.
To me, if you never get used to
having a lot of money to spend,
you’ll never feel the need to spend a
lot of money.
Run from the temptations, run
toward your financial freedom.
Around town, people may
mistake you for someone who
doesn’t do all that well. Someone
that is struggling to get by, someone
who may not belong
in that neighborhood. And only you
(and your spouse) will know the
truth. You are financially
independent; you can retire early.
Desert your need to fit in. You
have the power to take control of
your finances.
You’ve been given the opportunity
to make sound decisions when it
comes to money management.
Been a while to get to this point
for sure. But now I’m here; my
wealth is growing, my debt is
dwindling, while my lifestyle is
more than comfortable. You know
the rules, you have the skills, it’s
time for you to step out on the field.
Rick Astley once said, “We know
the game, and we’re gonna play it.”
Rolled into one: lifestyle choices,
building assets and staying out of
debt is your winning play.
Another $econd Opinion, is an
anesthesiologist in Southern California and
has been studying personal finance along the
side for the last 20 years. He is married with
3 kids, enjoys running, swimming, playing
guitar and his job. Learn more about the tools
necessary to gain wealth, make sound
financial decisions, and most importantly be
able to spend more time at home and less time
at work at www.anothersecondopinion.com
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