Why is there such a stigma about money? Why are we nervous to talk about our bank accounts and investing habits? Are we ashamed? Or do we think we are behind everyone else?
Most of us grew up in households that didn’t have much money; thus, we weren’t allowed to talk about money. The church I went to preached that “for the love of money is the root of all evil.” This quote gets taken out of context very often.
Growing up without knowledge of money gives us limiting beliefs about money. We grow up thinking that money is scarce and that we need to have a job to access wealth. No wonder we are all screwed up when we start making money.
When is Enough Money… Enough Money?
Since we have no history with money, we don’t know how to control the flow of wealth. We have a job, we are working and paying bills, and that is all we know. If we have any money left over, we consider that our discretionary income.
Eventually, we begin to want more than we have. That leads to toxic consumerism and debt. We tell ourselves that everyone is in debt, so we are good. But then we start to meet people who are actually living debt-free and below their means. We feel ashamed.
Some people live the rest of their lives in debt or struggling to get out of debt. It’s not fun. Debt is like wearing a metal vest around your body for your entire life. Yes, you can move, but it is slow and very uncomfortable.
Of course, if you are in debt, you don’t want to talk about money. There is nothing to talk about that excites you. You receive your paycheck, and it pays off car loans, student debt, and credit cards.
However, others will start to get out of debt. We will change our lifestyles, usually in our 30s and 40s, and stop buying crap. We live below our means—maybe get roommates or a second job. We become serious. This is how my wife and I started our journey out of debt.
But getting out of debt is not enough—there is still more. Now we need to create additional income streams. We never want to be in debt again, plus we want to ensure we secure our livelihoods for the rest of our lives.
Are You Retiring TO Something or FROM Something?
We start to learn about passive income, and this is where the fun begins. When you begin to have rental properties, invest in REITs and closed-end funds, become a content creator, and buy cryptocurrencies, things become interesting.
At this point, talking about money becomes fun if you surround yourself with the right people. I am lucky enough to work with a bunch of “smart money” folks at my job here in Japan. We talk about passive income in cryptocurrencies, the happenings in the stock market, and what’s next in real estate.
More importantly, we talk about our financial future. I believe that the provider of the house (male or female) should only talk about money. Besides family, what else is there to talk about daily. Why have a conversation about politics? What will that achieve?
If you cannot talk about money openly, then you are hanging with the wrong people. These people are not your friends. You are the average of the five people you spend the most time with—choose your friends wisely.
Accumulate Your First $100,000
That’s not to say you become some money-lusting manic. No, it says that you are taking life and your future seriously. Every day something happens in your life that affects your future. That is how I can write a new article every day.
Talking about money is not bad, and you should not feel this way. When you get your financial act together, you become an adult. You talk about Roth IRAs, interest rates, gold, crypto, and inflation. You should meet people who discuss these things.
How do you find people that talk about money? First, you have to be more open about your finances. I always drop one-liners about the stock market or real estate. People usually open up after you pave the way.
You’ll start to be known as the “money person.” Eventually, people will come to talk to you just to get the “hot tip.” Avoid these people at all costs. They will expect to make money in 2-5 days and blame you if you don’t. These aren’t your people.
If you don’t have people in your local area, then turn to the internet. There are tons of investment groups for real estate, stocks, and cryptos. Ensure you find like-minded investors. If you are a buy-and-hold investor, don’t join a group of fast money traders.
Being Unique Sells
When you start to have money and build wealth, you will see things in a new light. It’ll be hard to spend $200 on yourself when you could be buying $200 of a dividend-paying stock. You’ll find people who feel the same way, and it’s like comfort food.
Finally, work with your spouse or significant other to get on the same page financially. Your relationship is the most crucial part of your journey. Not to say they can’t be spenders; you all just need to identify your future goals as a couple. The book “Smart Couples Finish Rich” will help you along your way.
Conclusion. Money is great, and talking about money doesn’t make you evil. Just because you talk about money doesn’t mean you are greedy or jealous. It just means you are an adult.
Don’t be ashamed to be debt-free and invest for the future. That is what serious people do because life is more fun when you are rich. It’s okay to say the words “rich” and “wealthy.”
If you are looking for a group of budding investors, I have a small Facebook group. I post my articles, financial exploits, and free books there daily. Life isn’t a get-rich-scheme, and neither is my group. We are here for the long haul.
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. 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. All Right Reserved Military Family Investing
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