oyee。 The best thing about money is that it works 24 hours a day and can work for generations。 Keep your daytime job； be a great hard…working employee； but keep building that asset column。
As your cash flow grows； you can buy some luxuries。 An important distinction is that rich people buy luxuries last； while the poor and middle class tend to buy luxuries first。 The poor and the middle class often buy luxury items such as big houses； diamonds； furs； jewelry or boats because they want to look rich。 They look rich； but in reality they just get deeper in debt on credit。 The old…money people； the long…term rich； built their asset column first。 Then； the ine generated from the asset column bought their luxuries。 The poor and middle class buy luxuries with their own sweat； blood and children's inheritance。
A true luxury is a reward for investing in and developing a real asset。 For example； when my wife and I had extra money ing from our apartment houses； she went out and bought her Mercedes。 It did not take any extra work or risk on her part because the apartment house bought the car。 She did； however； have to wait for it for four years while the real estate investment portfolio grew and finally began throwing off enough extra cash flow to pay for the car。 But the luxury； the Mercedes； was a true reward because she had proved she knew how to grow her asset column。 That car now means a lot more to her than simply another pretty car。 It means she used her financial intelligence to afford it。
What most people do is they impulsively go out and buy a new car； or some other luxury； on credit。 They may feel bored and just want a new toy。 Buying a luxury on credit often causes a person to sooner or later actually resent that luxury because the debt on the l