you could be looking at anything on the internet right now but instead you have decided to
sit down and watch me talk about business and finance through my immense powers of deduction
i can conclude that this means you are probably interested in making an above average amount of
money in your career through one means or another that's great welcome to the club but i want to
ask you one question why would you want to be rich it sounds like a dumb question right who wouldn't
want to be rich but humor me here is it because you want to be able to relax all day instead of
doing a shitty job is it because you want to be able to look after your friends and family
is it because you want to do things that just aren't possible without a lot of cash
or maybe is it because you want to show off a bit make your parents proud be the one who gets the
most attention at your high school reunion or just flex on the gram to prove all your haters wrong
if you are honest enough with yourself and you really think about it i think most of you
can admit that this is partially true even if you still want to convince yourself that these
other benefits are more important and hey don't be ashamed of it there is a trillion dollar industry
built on enabling this kind of behavior so you are certainly not alone but there is a better way
stealth wealth is the practice of minimizing the publicly available information about one's income
assets and net worth a staunch practitioner of stealth wealth could be a multi-billionaire and
you would have no way of knowing about it unless they wanted you to they would drive a regular car
wear regular clothes and maybe even live in a regular house but why do they do this when there
are lambos gucci slides and mansions instead and what do they actually spend their money on which
is so great well regular channel viewers know that i hate dragging out the answers to direct
questions just for the sake of watch time so the answer to the first question is because it makes
for the best possible lifestyle in almost every conceivable way and the answer to the second
question is they spend money on personal and financial security then they spend it on things
that make their life easier and more comfortable after that they spend money on passion projects
they avoid spending money on things that are going to cause them stress and take up their time and
they do not under any circumstance spend money on things that will jeopardize their first priority
it sounds simple enough maybe even painfully obvious but it's something that a lot of people
get very wrong often with tragic circumstances so it's time to learn how money works to find out why
stealth wealth is so popular amongst truly wealthy people around the world and to find out how you
can implement its teachings in your own life even if you don't have a billion dollar bank account to
back it up just yet as always if you enjoy these videos please consider supporting the channel by
becoming a patron or a channel member to unlock a host of cool perks alright the first thing that
most people get wrong is that they think that stealth wealth is the same as frugality or just
being cheap but that's absolutely not the case this isn't to say that frugality is bad in fact
we could probably all be more careful about what we spend our money on but most multi-millionaires
aren't choosing to drive a ford pickup truck just because it's the cheaper alternative to a bentley
some wealthy individuals actually spend a lot more money on stealth wealth than they would
have spent just embracing the flex the classic anecdote is that you will never be able to see the
nicest houses in the world from the street they are hidden away deep in well landscaped estates
this kind of house is going to cost a lot more than one with a massive street presence but the
average onlooker isn't going to see a little more than a gate but if you are going to end up paying
more to achieve stealth wealth then what are the advantages over just embracing the flex well let's
consider the reasons you wanted to get wealthy in the first place if you wanted to relax all day
making lots of money might not be the best way for you to do that if you have lots of cash you
might not need to work a 9 to 5 job but wealthy people can quickly fall into the trap of buying
themselves more jobs that property portfolio will end up requiring constant attention to manage
tenants maintenance agents fees accounting hoa requirements not to mention the process of buying
and selling these properties in the first place i have made an entire video on how to avoid this
trap but even that won't do much good for you if you fall into the trap of accumulating lifestyle
clutter if you think that a wealthy person needs a flashy sports car you are going to buy one even
if you don't really care about cars you will then need a second car because that ferrari is wildly
impractical but that second car can't just be any old car it will also need to be luxurious so that
people don't think your ferrari got repossessed when they see you rolling around town in a chevy
you might then decide that you need a bigger house with enough garage space to put all these fancy
cars that bigger house needs more furniture more cleaning more gardening you could outsource this
to cleaners and gardeners to be sure but then you are managing employment contracts or dealing with
third-party companies this effect is very similar to something called lifestyle creep this is where
the purchase of a new expensive item makes all of your existing stuff feel cheap and out of place
even if you really did love cars you might feel a bit silly parking your new lambo outside a regular
family home you might want to get a new branded outfit for driving around in it and while you're
at it you might want to upgrade the contents of the passenger seat to a younger model all of these
upgrades are going to be expensive but assuming that you are extremely rich it shouldn't be too
much of a problem the problem is that looking after a bigger house picking out fancy clothes
and showing up to family court are all very time consuming and very stressful if you wanted to get
rich in order to be able to sit back and relax then congratulations you [ __ ] up big time
the cars themselves are going to require extra maintenance and lead to awkward conversations
at the gas station from everybody that wants to ask you what you do how much a car costs can they
trade the attention might be fun at first but it will get old real fast there is also the fact that
boutique niche markets like this new ferrari are kind of [ __ ] ferrari and rolls-royce simply do
not have the access to the same r d that companies like toyota chevy or ford do this means that the
cars that they make might be very exciting and make use of the finest materials but they are
going to be unreliable the infotainment system is going to be an afterthought and you will have to
wait for a spare part to be flown in from italy or the uk when something inevitably goes wrong
with these handmade cars suddenly your job becomes dealing with these service centers mechanics and
insurance agencies also you can drive around a flashy car that you really didn't care too much
about in the first place if your goal really was to avoid working you would be much better served
with a comfortable well-built house in a nice area with a reliable mass-market car in the garage
numerous surveys have found that a ford f-150 is the whip of choice for people with eight-figure
net worths and when you think of it that makes perfect sense a ford f-150 is not a cheap vehicle
but for that money you can get all the comforts practicality safety and features that you could
ever ask for all while attracting no attention whatsoever to yourself while you're out living
your best life alright if you don't care about kicking back and relaxing for the rest of your
life maybe you aren't convinced yet so let's explore the next reason why you want to be rich
being able to look after your friends and family for those of you who have young children
i know this is probably right at the top of the list well again stealth wealth works wonders in
achieving this goal your undercover money can still be used for providing comfortable housing
the option for a stay-at-home parent and topping up college tuition funds that much is obvious
where stealth wealth becomes uniquely brilliant in this regard is much more to do with what it
can shelter your family and friends from flashy people living in lavish homes and driving fancy
cars are the obvious target of lawsuits from both random strangers and from within their own family
the tale of jack whitaker is perhaps the best example of just how important keeping your wealth
under wraps really can be whitaker was already a fairly successful businessman when he won
314 million dollars in a state lottery the largest jackpot in history at that point
this money drastically increased his net worth but it also massively increased his public notoriety
unfortunately his state required winners to receive their winnings publicly
so even before the money was deposited into his bank account he was inundated with letters and
messages from people begging for money or pitching him some new business idea this attention was also
turned on to his family who were the victims of their own kidnappings burglaries and ransoms over
just a decade whitaker not only lost all of his money he won from the state lottery but
he also lost his previously successful business his marriage and tragically one of his children
in a statement whitaker said that he had wished he had torn his ticket up this is a worst case
scenario and of course there are very high profile celebrities with a lot of money who live with this
kind of stuff without such tragic results but they also rely on the public attention to make their
money in the first place and they tend to have support networks in place with fellow celebrities
and talent managers who teach them how to deal with this kind of stuff even still given the
chance i'm sure most of them would be more than happy to go without this constant public notoriety
if they were still allowed to keep their money alright so stealthwealth makes sure you can live
a stress-free life while ensuring your friends and family can do the same but what about actually
enjoying yourself some of you watching probably want to get rich so you can travel to space
take up motorsports or sit courtside at all of your favorite teams games surely these expensive
hobbies are at odds with the stealth wealth guidelines right wrong stealth wealth does
not mean that you have to do without everything that costs a lot of money it just means that you
go about exploring those passions in a way that's not intentionally drawing attention to yourself
if you want to go to space great do it just don't post about it all over the internet if you love
cars that's awesome keep a fun weekend car in addition to your regular daily driver even if it
is a bit of work to maintain it will be a labor of love rather than just a massive pain in your ass
i am fortunate enough to deal with some extremely wealthy and successful people in my day job and i
could speak from first-hand experience that most of these people have it figured out
the secret to min-maxing the quality of life you extract from your money is to use it in
the following order spend money on personal and financial security for you and your family
then spend it on things that make your life easier and more comfortable after that spend money on
passion projects but keep them to yourself and your fellow enthusiasts avoid spending money on
things that are going to cause you stress and take up your time and do not under any circumstance
spend money on things that will jeopardize your first priority people say money can't buy you
happiness that's [ __ ] money can buy you whatever you want but i see too many people using it to buy
themselves misery the stealth wealth table of priorities doesn't need to start after you earn
your first million dollars either you can adopt this strategy right now of course you might also
want to use your wealth to support local industry but this begs the question is it more expensive to
make things like an iphone here in america the answer is a lot more interesting than you might
expect so go and watch my video from last week to find out how much extra you might be paying
if global trade ends up collapsing until then i always want to thank my channel members and
patrons on patreon for making it possible for everybody to keep on learning how money works you