Kris and I were never very flashy people. We always wanted clean, cheap, reliable cars. Kris shopped around looking for the best deals on clothes and accessories. I always wore T-Shirts and flip flops. We never really stood out as people of money. We both grew up without much money, so we never saw the point of becoming flashy or showy. But as we started down our financial quest to build generational wealth, the way people looked at us changed. The more money we earned and then saved or invested, the more people frowned upon our decisions. Let me explain some of the random encounters we have had over the last year.
Where we live: We live very comfortably in the panhandle of Florida. We own two houses here and one in Arizona. The rental market is scorching hot and you can easily print money here. However, folks from my hometown (San Diego) totally frown on us living here. Keep in mind that Kris and I make more money dollar for dollar than these folks. However, our cost of living is easily 50% of California’s. We are able to pocket the difference and invest a considerable amount of our resources. People from San Diego look at us like we just crawled out from under a cave.
We have roommates: Kris and I bought a huge 2500 sq ft home in Florida in 2020. It is on 3 lush acres. We rent both of the two master suites out for $800 each. Our total mortgage is $1750. So we are only paying $150 a month to own our home. With the rooms rented out, that still leaves our family with 2 bedrooms, 1 bath, and 1500 sq ft of living space. Plus we have a 400 sq ft barn house and the aforementioned 3 acres of land. So much space. However, as soon as we mention that we have roommates, peoples’ faces turn to disgust. Being able to save and invest $2000-$3000 a month has been a boon for wealth building. Plus it teaches the kids how to be humble and use teamwork to improve their quality of life.
We have average cars: Everyone in the military knows how much each other makes. I am an E-9. I make roughly $120,000 a year (including all the perks). However, I drive a 2012 Ford Focus. Kris drives a 2010 Mazda CX-9. Both are paid off. So many people talk about their dream cars; Corvettes, Teslas, convertible, etc. Kris and I just want our cars to be safe, clean, and paid off. When people see the car I drive, they can’t help but commit. So many of the younger Marines, E-5 and E-6, approach me about my choice of cars. I just tell them, “Get married and stay married for 14 years, have 2 children, own 3 homes, and have a nice investment stash. Once you accomplish all of these things, then we will be equal and you can ask me about my cars. And I will respect your opinion at that moment.” It sounds harsh, but until you walk in our shoes, there is no need to judge.
As you can see, America wants you to spend your money on big-ticket items. Cars, boats, RVs, etc. The philosophy being if you have money, you need to show that you have money. Our goal is to ensure our children have generational wealth (via businesses, investments, and relationships) that will allow their quality of life is above our own. At this current moment, my oldest son is 14 years old. He already has a house and a car set up for him. He already has investment income coming into his account. He has stocks and bonds. All he has to do is become a great person, find the right person to marry, and pursue something that interests him. That is true wealth; working as a family team in order to ensure we are ALL successful together. Once you start down your path to building generational wealth be prepared for the naysayers to approach you. Stay focused on the endgame. You will eventually find like-minded people, and your bond with them will be amazing.
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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