Why You Don’t Feel Rich (Even When You Are)
Here are 7 reasons you may not feel rich. This video focuses on the internal mindset and narratives we tell ourselves about money.
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Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
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⏱️ Timestamps:
0:00 – Start Here
0:25 – Horizon Effect
2:35 – Lifestyle Creep
3:40 – Illiquid Assets
5:16 – Relying on Active Income
7:14 – Social Comparison
9:05 – Haven't Yet Defined Rich
10:35 – Living Above Your Means
Definitely can be a lifestyle effect. As you begin to make more and more, many often start living in a way that fits that income. You get used to it and don’t think it’s anything special, where the you from 5 or 10 years ago would have thought your current self was living it up!
Truth. Even though I’m not rich and don’t make what I think is a ton, my post-college self would think I’m raking it in!
My income has increased a fair bit in the past five years but my lifestyle has only really decreased in an attempt to combat inflation 😅
Finally bought my first house and it’s definitely the reason i don’t feel rich. Had to do some updates so even though the mortgage is manageable, the payments for the few updates keep me in that paycheck to paycheck grind.
this was helpful ; thanks.
Glad it was helpful!
So many people just dont talk about money or their debts so we all just assume that others have more money, or less debt, than us. The more I talk to friends about money, the more I find out that we are all in similar situations. Transparancy might help us to stop trying to keep up the with jones’s.
I act poor spend like im poor but had to do it to get loads of money now i got loads of money but still act poor whats wrong with me 😂
I am with you on this one
Well depends on what you consider acting poor. Usually what people consider acting poor is just being normal or what should be normal.
It’s because the same financial habits and mindset that got you to where you are today is now working against you. The sacrifice of not enjoying life as much when you are younger is now affecting your quality of life today because you postponed a lot of it. Also you might notice that while you’re financially more capable, others around you might not be so financially free and thus you’re limited in what you can do. That why people eventually start joining country clubs and stuff because you basically end up meeting people who actually do have wealth and want to spend their money.
@ I want to join a country club. 😁
Nothing
As a millennial I don’t feel rich even tho I’m doing better than most is because the goal post to affording a home keeps moving and not just by small Increments.
I’m in exact same boat. Have my down payment saved and continuously investing but definitely don’t feel rich as I rent a small place. Like you said home prices by me continue to go up significantly each year
Despite making ~45k, I don’t have any financial worries thanks to intentional living and an 8 month emergency fund. All my needs are met and I have most of my wants taken care of. I have a great partner, great friends, amazing family and a job I don’t hate. I consider myself wealthier than most.
I don’t feel rich. Been debt free since I was 31.
Rich = being able to give your boss the finger and walk out whenever you want.
This is really needed thank you
Great video Humphrey! This is definitely a very true feeling. The reasons you listed are great for reducing anxiety around money and for allowing us all to be satisfied with where we are in our current financial situation.
I think watching financial content on Youtube makes me feel behind the most, since most describe why everyone needs to be a millionaire by retirement and investing from age 20, or they’re not good enough. The “you should have this much by this age” type of videos are especially discouraging. But the truth is I’m debt free and able to pay all my bills, which means I’m richer than I ever used to be.
Feeling rich isn’t just about money 😏it’s about time, freedom, & peace of mind. If you’re always chasing more, it never really feels like enough. True wealth is when you can actually enjoy what you have 🤷🏻♂️
100 percent agreed.
I Hit $12,590 k today. Thank you for all the knowledge and nuggets you had thrown my way over the last week . I started with 3k last week now I just hit $12,590…
How please can you explain because I’ve been making a lot of looses trying to make profit trading.
Weekly trading is the best way of making money in the market due to lack of experience which resulted in loosing funds… But miss Bernila George, restored hope shes a good woman
Since meeting Expert Bernila George., I now agree that with an expert managing your portfolio, the rate of profit is high, with less risk.
Wow. I’m a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I’m in my fifth trade with her and it has been super.
Really you people know her? I was even thinking that I’m the only one she has helped walk through the fears and falls of trading
9:55 – The idea of comparing your financial situation to yourself 5 years ago is such a refreshing way to measure progress. Small steps add up.
I reached $70k today. Thank you for all the knowledge and insights you’ve shared with me over the past few months. I am a single Dad and i live in Florida, i bought a new Car in September and i hope to retire next year at 45 if all goes well. Financial education is essential for over 70% of the population, as only a few are truly literate in this area.
Thanks so much Angie Chen Owens
I’m surprised that this name is being mentioned here, I stumbled upon one of her clients testimonies on CNBC news last week
Angie Owens strategy has normalised winning trades for me also. and it’s a huge milestone for me looking back to how it all started
You trade with Angie Owens too? Wow that woman has been a blessing to me and my family
I’m new at this, please how can I reach her?
I was skeptical at first until I decided to try. It’s huge returns is awesome! I can’t say much.
👍Awesome video! I must say that Frederick is such an inspiration to me. I started investing in cryptocurrencies like him, as a fearful investor who didn’t want to lose money. I’m really happy to say that I’m now very profitable and buying my first house with cryptocurrencies. I’m so grateful for all the knowledge and information Frederick has given me over the past few months. I started in January 2024 with only $10,000 and today my portfolio is worth $40,000!✊
I am new to this. How can I contact him?
He is active on Telegram ;(…
HE’S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME.
@FrederickDsignal✌..that’s all
THANKS FOR THE INFORMATION, I REALLY APPRECIATE👌👌👌
Hey Humphrey! No fed inflation and jobs report this month?? I really like those!
Dividend investing is my jam! I’m building wealth with a buy-and-hold strategy in my Roth account, featuring Rockstar’s like Berkshire B stock, SCHD, and S&P 500 and total market ETFs. My taxable account is also getting in on the action, generating regular income through dividend-paying stocks. It’s a winning combo that’s helping me achieve my financial dreams and all thanks to my financial advisor
Your strategy is a perfect example of a solid plan! Combining dividend stocks with a buy-and-hold approach sets you up for success. This is incredible. Could you pls recommend your FA? I’m trying to find a certified one to boost my investments/portfolio. Can I get a recommendation from you, since you know about this stuff?
My FA is Gabriel Alberto William, a renowned figure in his line of work. I recommend researching his credentials further. He has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this tip, it was easy to find your coach by just googling his full name and his credentials shows up immediately. Based on his résumé, he appears to possess a high level of proficiency, and I am grateful for the opportunity to work with such an elite
You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k in a meme coin for just few months and now they are multi millionaires I pray that anyone who reads this will be successful in life