More Isn't Always Better When Building Wealth

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When it comes to building wealth, more isn't always better. In this lesson, we discuss the danger of an unchecked accumulation mindset and how chasing money can negatively impact your ability to build wealth. We also talk about the power of defining enough to fix this problem.

In this Livestream, we go into more depth on our lesson on The Dangers of Chasing Money by discussing why more isn't always better when it comes to building wealth.

Below are a few of the topics we cover:

  • Why the value of wealth isn't what it seems
  • The cut-off point where money stops buying happiness
  • Novelty that money buys gets old fast
  • More money, more problems
  • Money's inability to provide intrinsic fulfillment
  • How your possessions possess you
  • The challenge of objects with sentimental value
  • Japan's approach to limiting material possessions
  • The power of buying items you can easily afford (vs the danger of buying items you can't afford)
  • Be sure to use the things you own (don't just lock them up)
  • How to define “enough” by identifying and pricing out your priorities
  • The danger of lifestyle inflation and ways to avoid it

And if you're looking to get started in the stock market, I'd recommend Wealthfront and Betterment.

I’ve invested my own money with both for years and can say they are equally excellent. You can’t go wrong with either. If you’re like me, go with both. We both get referral bonuses when you sign up, which helps support the work we do here at Stake Your Wealth.