Great video on the topic of personal finance. It was a good reality check for me as well.
Here are some of my takeaways from watching the video above:
Having wealth is not about looking rich. It's not about wearing $1,000 shirts or bag, or driving a $100,000 car. Having real wealth is about having the freedom to do what you want to do, to live the life you want to live, to take care and leave your family a lasting legacy. And you do this by not being a slave to debt.
The Three-City Problem of Modern Life — interesting read and social commentary about the lives we live today. We either live in the city of reason, of faith, or of technology. Living in one city isolates us from the rest of the world and that makes us feel incomplete.
^ This is probably only applicable to US readers, as a ROTH IRA is a specific tax-advantaged account offered by the government. But if your country has a similar offering, then some of the info might still be useful.
On Social Media
Social media is like a sandbox where you can observe mimetic theory and mimetic desires in full display.
Sure, there are newer, faster, more fuel-efficient (not to mention fully electric), more luxurious cars out there. But nothing beats driving a paid-off car.
You think you love your car when it's brand new? You'll love it even more when it's paid off.
Did your car just get dinged? Oh no worries, it's already paid off. 😉
Does this mean that after paying off your car, you won't get tempted into buying a new one? Absolutely not 😄
So then what's the point of this post? Stay with me for a bit.
As a car guy, I struggle with this since I'm always enamored by cool new cars. However, the experience of not having a car payment, will make you think twice about signing up for another car loan. At least, it does for me.
We were notified last week that we could now get the Covid-19 vaccine. Good timing too, since our state governor decided to reopen Texas 100% and took away the mask mandate.
After two days...
We got our 1st dose of the Moderna Covid-19 vaccine. I thought it was going to be a drive-through setup, but it was not. And so we had to bring Davin and Caleb along with us, as we fell in line with other people. Had I known it wasn't a drive-through, we would have left Davin and Caleb at the babysitter.
Thankfully, once we got into the vaccination center, we found it to be a very organized event.
Why did I pick up this book?
I don't exactly remember how I heard about JL Collins' book, but somehow I did and that lead me to reading the first few pages of his book. I liked what I read and decided to purchase the book. Before picking this up, I was looking for another book on personal finance that is mainly focused on getting out of debt. That wasn't exactly what this book focused on, but I liked it nonetheless.