The other day I was in the supermarket and I noticed a dude, who looked like he was about to attend a fashion show sporting an upscale leather coat, fancy shoes and clothes. If you’re going on a hot date with one of the Victoria secret models then you might need to dress like that to show a higher standard than the norm. Because if you don’t amaze you will not get a second date most likely. But just to get tomatoes, milk, and some eggs really doesn’t make sense to me to dress like a Valentino model.
Do you feel like stuff defines you? If you always look for stuff to solidify your status, then guess what your being a rich imposter. If the title makes you feel some type of way aka mad, then you’re really being a rich imposter times 2.0. IF all you own is fancy name brand stuff, then you are either rich or a rich imposter. The trick is not to be a rich imposter because then you will actually never reach being fundamentally rich. Wow did I just blow your mind Mr. Imposter?
The function of acting rich actually sets you back tenfold from ever becoming wealthy or even accumulating a decent sized nest egg for future safety. – Rich Uncle EL
Now what can you do to not be one of these poor unfortunate souls? Well you can simply live a normal life with a focus on directing a portion of money into various savings accounts first and foremost. Avoiding brands or being a bit more selective is not the end of the world, as you can find very reasonable alternatives to suit a good lifestyle. In life you shouldn’t look like a pauper to become wealthy and you shouldn’t look like a king to fake like your rich. It’s all a balance based off lifestyle and choices around money management.
How do rich imposters think? If you only make 50K annually but you feel a 300 dollar belt, a 100 dollar T-Shirt, and 600 dollar shoes is the only real way to dress then something is wrong with your priorities. In addition to this example, someone making 150K walks into a Ferrari dealership looking to purchase a commuting car, this person smells like another rich imposter. By understanding the name of the money game you will supersede financial goals. But if you don’t play by the rules, then you will forever sit in the debt sidelines.
I want to motivate those people making wrong choices that you don’t have to be a rich imposter to live life happy. I once heard a great saying, which goes like this, clothes do not make the man, a man makes the clothes. If you can live this mantra then you will not succumb to the rich imposter lifestyle.
On the other hand if you make 100K, save 30K annually into various investment funds, keep expenses low, and still find an extra 15K to buy fancy stuff. Then by all means go ahead, as you are doing just fine, because you are not living a lie.
The trick is to maintain a life where you can save, invest, keep costs low in areas that don’t matter, and increase in areas that do matter to you without going into debt. That is how to avoid being a rich imposter.
At the end of the day I am judging all the rich imposters I come in contact with because I do not know their income, savings rate, or debt burdens. I am only looking at the image that’s portrayed and you could say that is wrong of me. I will say I apologize first and foremost, but if history is an indication of the future.
I predict the average savings rate of Americans to still be 5% in the future, as well as the average debt load steadily increasing and not decreasing. Car leases and financing account for 40%-65% of all car sales and rising. Student loans will be 2 trillion soon. Net worth is growing minimally year over year, because people can’t or won’t invest.
This is all being reported by the government so it is a truly reliable source of information. The facts do not lie, and the government clearly states that there’s more imposters than non-imposters.
In conclusion do you want to know the car Mr. Rich imposter was driving away in after the supermarket visit, a Mercedes Benz coupe. Shall we all say, nice lease you have their buddy.
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Be more than a rich Imposter, be a wealthy powerful frugal under the radar millionaire. – Rich Uncle EL
Comment on how being a Rich Imposter is Dangerous.
Rich Uncle EL
Did we just see the same guy at the grocery store?? I agree with you. I always joke that my biggest bill each month is to our savings accounts.
Haha that’s funny. I doubt we did, but im sure there’s people who want to be rich imposters all over the world. I can’t fathom not saving, it’s part of my DNA. Thanks.
Let's pretend the guy isn't a rich imposter, maybe, just maybe, he has his act together and was picking up a few things to make a lovely dinner for his date. Or maybe he works at a clothing store and is required to wear the clothes he sells?! Oh the possibilities are endless;0)
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I hope your right, and I addressed that in the post. But in my experience talking with people in person or online, the majority of them, 1. do not invest 2. Have a ton of debt, 3 Are living paycheck to paycheck. This is all facts provided by our government. But here's to hoping for the best and I am writing all of this to turn some imposters around, I hope you can see that. Thanks for the comment.
My recent post Being a Rich Imposter
Haha!
Recently I saw a very small, hatchback Mercedes and wondered what kind of person buys that. My husband said: a "show-off" who doesn't have money!
My recent post The Less is More project: Week 7 – Your biggest investment
It’s a fact most luxury cars are leased, so that means a high majority of those drivers can’t really afford the car, thus being a Rich Imposter. One scenario is a discounted leased car job perk for sales professionals, then that is a benefit that should be considered if cost effective or not. On most occasions it’s people trying to show off as mentioned.
Back in college, one of my friends wanted to slap a Mercedes Benz emblem on a Hyundai to trick others that he was driving a luxury car. These days it seems like buying luxury cars is very doable for even those who can't afford it. It's always about the monthly payment and the dealerships have stretched it out to 5-7 years making those monthly payments APPEAR affordable.
HAHA that is exactly what I think happened with the BMW Badge. I found it laying on the street. Mind you real BMW badges don't go flying off cars. People are too much trying to show off, its pretty funny to me.
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