The number 1 way to get rich and stay rich

Money is fickle. It means something different to everyone.

To some, money is a source of comfort.

To others, money is a source of stress and anxiety.

Ironically, money is both something that can buy you a comfy retirement. Or it can be something you work a tedious job for.

Given the complexity of money, it's no wonder that there are thousands of personal finances tips out there, but in my opinion, the most important personal tip is this one:

Adopt a survivor mindset.

Similar to the mindset of the baby boomers who grew up poor and desolate after the war. You know, the children who were ecstatic to receive a new pair of socks for Christmas? For them, "Work or starve" wasn't communist propaganda; it was real life.

As a result, boomers developed a survivor mindset.

My grandparents have it. They've always lived in a small house, rarely go shopping, never throw out anything, and only eat out once a year. Today they're pushing 80 and yet they're still saving money every month.

Their survivor mindset ensures they'll never go bankrupt. Better yet, it is this frugality that allowed them to retire early in a debt-free home.

Now I'm not suggesting you follow in their footsteps. Money should enable your life, not impede it. But you should never, by any circumstances, swing to other side of the spectrum.

Avoid the maximiser mindset.

On the other end of the spectrum, we have the maximisers, the people who try to maximize as much value as they can possibly can. That's the people who, if you give them $1,000, they'll spend $1,005. These people will try to squeeze as many cocktails, coffees, restaurants, or shopping sprees out of their salary as they humanly can.

The result? They live paycheck to paycheck for years on end.

Worst yet, these people don't believe in an emergency fund.

"$6,000 sitting about? What for? There's new clothes to buy, tires to fix, and cocktails to drink."

For them, there's never enough money. They could win the lottery tomorrow and still be broke a year from now.

As a result, these people are always one emergency away from bankruptcy. Perhaps you have them in your family or circle of friends. Perhaps you've already been asked by a cousin for an emergency 0% loan because "Who knew you had to pay taxes again?"

To me, that lifestyle seems insufferable. I just couldn't live with that much financial stress and anxiety. I need a comfy financial cushion to sleep soundly at night. I need to know my retirement is sorted. And I need to know I can quit my job at any time and not suffer any drastic lifestyle changes. But that's just me, I value free time and peace of mind over status games & material stuff.

In conclusion

Don't be the child who's content with a simple pair of socks for Christmas. It's okay to want more out of life. But don't become the spoiled brat who smashes his Xbox on the floor because it's the wrong color.

Financial security shouldn't come at the expense of massive lifestyle sacrifices.

And lifestyle upgrades shouldn't come attached with financial anxiety.

Just one's man opinion.

Follow me if you agree.

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