Substancial wealth is not made overnight or doesn’t even require an extremely high income. In the book, “The Millionaire Next Door” the primary premise is that many millionaires just saved a large percentage of their income and spent very little. Ironically, the people flashing Rolexes and driving fancy depreciating assets / cars have spent their money and therefore likely don’t have much.
Stealth wealth is my goal. Steath wealth is when someone has loads of money, but you would never be able to tell unless they told you. The wealthiest person I personally know is an elderly, retired lawyer. He has three cars, but the average age is well over a decadeand they are all Hondas. He has slowly invested his money in real estate, bonds, and farmland which he leases out. He has lived in the same house for over 50 years. Many people would laugh if you pointed to him, his car, or his house and you claimed he had lifechanging wealth. He likes to donate money to those in need. He gives to charities. He donates to his church. Also he will leave his wife, children, grandchildren, and great grandchildren generational wealth.
How did he do this? He lived well below his means and invested his money in appreciating assets for an extremely long time.
Millionaire Librarian 