Ready to explore differences between quiet and loud millionaires? I'll discuss why quiet wealth holds more value, covering financial security, lower stress, and internal values. Tune in to learn about unique qualities of quiet millionaires, their modest living, wise investments, and giving back quietly. Discover advantages of choosing a quieter path to wealth for your financial journey.
IN TODAY’S EPISODE, I DISCUSS:
-The benefits of living modestly and authentic living
-Tactics for investing wisely and avoiding excessive spending
-The value of maintaining privacy and giving back discreetly
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Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!
The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.
Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
OTHER RESOURCES:
7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com
Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/
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Ready to explore differences between quiet and loud millionaires? I'll discuss why quiet wealth holds more value, covering financial security, lower stress, and internal values. Tune in to learn about unique qualities of quiet millionaires, their modest living, wise investments, and giving back quietly. Discover advantages of choosing a quieter path to wealth for your financial journey.
IN TODAY’S EPISODE, I DISCUSS:
-The benefits of living modestly and authentic living
-Tactics for investing wisely and avoiding excessive spending
-The value of maintaining privacy and giving back discreetly
RECOMMENDED EPISODES FOR YOU
If you liked this episode, you'll love these ones:
RECOMMENDED VIDEOS FOR YOU
If you liked this video, you'll love these ones:
PRE-ORDER MY NEW BOOK:
Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!
The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.
Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
OTHER RESOURCES:
7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com
Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/
CONNECT WITH ME:
Website: MelAbraham.com
YouTube: MelAbraham.com/tube
Instagram (@melabraham9): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
Warren Buffett, Kim Kardashian, they're both billionaires, but, boy, are they different. Question is, should you be a loud millionaire or a quiet millionaire? I'll tell you why I think quiet's. The way to go. Welcome to this episode of the affluent entrepreneur show, and I can't wait to jump into this. I hope you enjoy it. I'll see you in the episode. Oh, man. This one will be fun. This idea of quiet millionaires versus loud. Millionaires, I don't know, why do we. Even want to be there? What's the difference? What does it mean? Well, I think about it, and I. Say, quiet wealth, loud impact, that's the way to go. I don't know. That's why I believe that quiet millionaires are better. And there's some reasons for it that I'd love to talk, talk through and walk you through to do that. Question is, why stay quiet? Let me just jump to some slides. Okay. Why stay quiet? Why does that actually even matter? And I think that there's a couple things that we need to seriously consider as we start to go through this. And the first is, this is the idea of financial security. I think that those that prioritize how. They are seen on the outside will actually make some financial decisions they wouldn't otherwise make because they're being driven by. The impression, the view, the perspective of. What others are thinking. Whereas when I see a lot of. The people that I've worked with that. Are millionaires, multimillionaires, and billionaires, they're quiet. I actually live in an area where they say it's billionaires and board shorts. You wouldn't know that there was money here. And it's not because of anything else other than the fact that really, the. Money actually doesn't matter. It's their life that matters. It's their lifestyle. And so when we start to look at it through those eyes, financial security, when it comes to this, is something that they actually find that when you. Are more of a quiet millionaire, you. Are prioritizing your financial security, your financial peace of mind, over and above flashy displays of accumulating wealth and all that stuff. It isn't about lavish boats that you're parading. It isn't about all the cars and. The loud exhausts and all of that. It's about discreetly accumulating wealth and living a rich life. Rich life is how you experience it. Wealth is the statistic in the bank account. And. And I think that when we are quiet millionaires, you get a chance to have more financial security because you're driven. By internally generated values that drive your buying decisions and not externally generated perceptions that may happen. Okay? The second thing I think that happens. Is why we might want to stay quiet is this idea of lower stress levels. I mean, let's face it. My gosh, okay? If I'm in a situation where. Where I'm putting everything on display and I'm constantly under the. Under the public eye, what kind of stress is that? I live in a very quiet neighborhood, very private life. As much as I'm out here on speaking on stages with thousands and thousands of people on the Internet, that type. Of thing, I'm a very private person. And I think that when you look. At something like a Warren Buffett or some of these other millionaires that you. Wouldn'T even know the names of, okay, they live off the radar. And it's because they also get a chance to have lower stress levels. They get a chance to live more modestly, if you will. And they focus on what really matters, their family, the causes, the missions, the movements. They focus on all that. And so when I think about the. Idea of quiet millionaire versus loud millionaire, I think about the stress levels, okay? And how that plays out into all that. So that's number two. Number three. Number three is, I think, quiet millionaires. A lot of times end up focusing more on value. Okay? What's the value of the experiences that they're creating and on values, prioritizing the experiences, prioritizing the relationships, prioritizing meaningful pursuits rather than material possessions. That's really how I think a lot of them do it. And it's the same reason that I think that it's the better way to go. See, when I'm working with folks, and. Even in my upcoming book, building your money machine, as much as it says money machine, it isn't about the money machine. It's about the life that you get to create with the money machine. Because when we create wealth, we build wealth, but we don't build a life in the process. What's it worth? I don't want to have a big bank account and a bankrupt lifestyle. And I've watched people do this where they literally, I know someone right now. That is a billionaire, and I think. That they're setting themselves up. They're going to crash and burn. They have everything that you could imagine. Homes, multiple homes. They live in amazing neighborhoods next to. Incredible neighbors that you would know. They have private planes. They have everything from the outside looking. In that you would want, yet being on the inside and seeing them, I. See someone that's stressed. I see someone that's unhappy. I see someone that's unfilled. I see someone that needs and feels like they need to constantly be on the run and on the chase and. On the hunt to try and find. Happiness, yet the happiness is sitting right. In front of them. See, I don't want the big bank accounts. I don't want the material possessions. If the cost of it is to bankrupt my. And I think that quiet millionaires start to understand that and start to look. At it through those eyes. Okay, what else happens? I think that there's. There's another thing that. That happens. Number four would be privacy and freedom. I actually love my privacy. I don't want to be someone that goes out there and has, you know, I can't imagine. I see. I see people like. Like, everyone from princess die to any of these celebrities, and they constantly have paparazzi. They constantly have people that recognize, and. They constantly have that. Where's the fun in this? What kind of life is that? It may seem, like, really cool at the beginning when you can't go. You can't go anywhere without an entourage. And you're parading it all. I prefer to have the privacy. I prefer to have the freedom. I want to enjoy that. When you look at quiet millionaires, most of them, they have the privacy, the freedom. You wouldn't know it. They go for a jog. They go for a walk. They go to shopping. They're at Costco. They're at, you know, they're at Walmart. They're wherever they want to go. And no one pays them any mind. No one pays them any attention. Everything that I'm talking about is all about the quality of the life and not the quantity. Only because we can always buy all. Kinds of great stuff and parade it. But what does it come along with? The other thing that I think that we get a chance to look through is this idea of authenticity and humility. Look, I want nice stuff. We have nice stuff. We live in a nice home. We drive nice cars. But I hope. I hope that you get a chance. To feel that I'm just a normal dude. I'm real. I'm authentic. I hope that I have some humility. I hope I have some humanity. I mean, some humbleness. I try to keep my ego out of it. I try to keep my vanity out of it. I mean, I'm just like y'all. I have made some huge mistakes. I have lost money. I've made money. I've screwed things up. Um, you know, I get dirty, I mess up. I mean, I'm just real. I don't know, I hope that that. Comes across, but I just want to be me. And if I can't be me in. The process, and I got to put on a facade and I got to put on an act, I want you. To be able to go, hey, I'm. Watching him on video, and then I just met him in person and go, you know what? He's the same, same guy. I want my external Persona to be my real Persona. I don't want to play a game. I want it to be just what it is. Number six on this list is that they are looking through the eyes of long term success. Quiet millionaires are sitting back saying, hey. If I can just take a disciplined. Approach, a strategic approach to wealth accumulation, to building wealth, to living a rich. Life, we'll have everything we need, we'll have everything we want. We don't have to parade it in. Front of people, and we'll have it. For a long time. The idea behind the money machine isn't. To create something big, is to live something grand. Not grand in the sense of materialistic, but grand in the sense of experiences. And the sense of feelings. And then to take that machine and. Say, when I'm done here on earth. And I'm ready to put my, my body down in there and rest my soul, I can hand that machine off to my wife and to the grandkids. And say, it's your turn. Keep living richly, keep making a difference, keep having an impact. Keep doing the things the right way with the right values to have long term success. This is the key to doing it. And then the last thing I think that that quiet millionaires will look at is they're looking at it through the. Eyes of positive impact. Okay? Are we having a positive impact? Are we truly making a positive impact in the things that we want to do and really start to build it from there? So if we look at this from. The standpoint of why, I think quiet millionaires are the way to go, and the question is to look at it. Through the eyes of what to do. Okay, what to do. So I'm going to walk you through five things that I think you should be considering doing if you truly want to build wealth and do it as a quiet millionaire would. All right? And so the first thing is this. Is this idea of living modestly. And what I don't mean is I don't want you living on corned beef hash, Mac and cheese, and ramen. That's not what I'm talking about. What I'm talking about modestly, in the. Sense of living true to your desires. True to your values, true to the. Things that you love, not what society says expectations are. Oh, you have all this money, so you should have a 10,000. I can't imagine having a 10,000 square foot home. It's just my wife and I and a dog. Another one on the way. We're getting a puppy. Buddha's getting a brother. So we don't need 10,000 square foot home. You know, the expenses, the craziness, the. Upkeep, all of that. Why? So when I talk about it from a modesty standpoint, it's to live to. What you want, not, not, not to the edges, you know, so, so what. Most, what most quiet entrepreneurs do is they live modestly. They live within their means, but they also live within their values. Okay? The second thing that they do is they invest wisely. Think about it this way. Too often we, if we aren't careful and we have money, we put lifestyle. Before freedom, and then lifestyle becomes our prison. How we are seen in the outside, what we drive, what we wear, you know, got to have a new car. The neighbor just got a new car, so I got to get a new car. The kind of house, all this, all the things. Okay? And so what ends up happening is. Lifestyle takes precedent over wealth building and richness in life. The true value in being a quiet millionaire is that they shift it. And they say, I'm going to invest wisely. I'm not going to take undue risks, but I'm going to make investing the priority. So we're going to make money. We're going to invest money, and then we're going to build a lifestyle. And that lifestyle is going to be our lifestyle, not the lifestyle that's dictated by someone else expectations, some materialistic view from the outside, any of that stuff is to allow us to live fully into what we want to do. But the process is driven by our investing wisely. More so than, than sitting back and. Saying, I'm going to put lifestyle first. That leads me to number three. Okay, what do quiet millionaires do? Number three is they avoid excessive spending. I mean, it goes along with the investing wisely. But instead of going and just spending, spending, spending, most of them still, even though they may not need it, they still have some sort of budget or cash resource. They're still checking their numbers, they're still doing things that got them to where they're at. Because when we start to get complacent. Complacency is the first step to crisis. When we become complacent about our money, when we become complacent about our wealth. When we become complacent about our relationships. They start to wither, they start to die. Okay, I know that's dramatic, but it's true. So when we get complacent about our spending and we get excessive spending, all of a sudden we find ourselves in a hole and we wonder how we got there. So the diligence and the vigilance that got them, the wealth they keep in place, that doesn't mean that they live miserably. That doesn't mean they don't do nice things. What it does mean is this, and this is the same thing that I teach all of my clients and the people that I get a chance to serve. And whether it's my elite one on one clients or my master's program. I. Don'T want to tell you what to buy and what not to buy. I'm not going to sit back. Very rarely I'm going to say, don't do that. Okay? What I want everyone to do, and. This is what this is all about. Is to be very conscious and aware. And intentional with what you do with. Your money that we don't unconsciously spend. As if it's never going away. How many times have we heard people. That we might know, Mike Tyson, Nicholas Cage, Burt Reynolds, okay, that ended up. Making hundreds of millions of dollars and ended up bankrupt. Why? Excessive spending. They weren't intentional. They weren't conscious. They weren't aware. Be conscious of be aware. Make deliberate decisions. And you're good. You're good. Number four. Number four is they maintain privacy. I don't parade a lot. I try not to. Okay? It just rubs me wrong. So when I see people parading their lambos and their jets and their boats and all that stuff, I go, this. Is, to me, you're just aching for some ego stroke. I'm sorry, that just the way I feel. I think that I don't see where this helps anyone to sit back and say, let me parade everything in front of you. You know what? If I want you, we want to parade. Just parade. Parade good relationships, parade good parenting, parade good marriages. Show me your values, not show me valuable stuff. It doesn't really affect me now. Maybe it does for some people. You know, I look, I love nice stuff. I have flown on private jets. I've been on yachts. I get it. I love that. But to put it in front of. People, you know, it doesn't, you know, so quiet. Millionaires, they maintain their privacy. They kind of stay to themselves. They do the things that they, that they want to do, but they don't need to parade it in front of people. Then the last thing I think that. They do is this, is that they give back quietly. And, you know, some of the people, and I get it, money gets a bad rap. People demonize money. They demonize millionaires. They demonize entrepreneurs. They think that they're horrible people. But you know what? The ones that I work with, many of them are mission driven. They're movement driven. They're so super generous when. No, they aren't the ones that want. Their name on the building. They aren't the ones that want the. Accolades and the awards. They're the ones that want the impact. They're the ones that want the difference. They're the ones that want to know that it mattered, that they made money and they were able to give money. To a cause they don't care about. They're generous, give back quietly. And the people that I'm around, many. Of them are that way. I happen to know what they're giving. I happen to know what they're doing because I'm involved in their finances, I'm. Involved in guiding them. They certainly don't put it. They're not posting it. They're not. That's not the reason they do it. They're doing it because they truly want to have impact. They truly love the cause. They truly love being generous. They truly get something out of giving. Giving to other people. That's their currency. So as you sit back and you. Kind of look at it through. Through these eyes, you start to look at and say, well, I have a choice. My choices. I can be a Warren Buffet who. Lives a modest life by all stretches, but a very, very wealthy man who gives generously. In fact, the majority of his wealth is going to charity. And. And he lives effectively in the same. Home that he's, he's been in for decades, or. And nothing against her cause. She's done well in her own right. You can be the Kim Kardashian. Okay? That is very ostentatious. That parades a lot of wealth, that gets a lot of recognition, that sees a lot of things and has an opulent, opulent lifestyle and an extravagant spending and designer clothes and luxurious vacations. But it's a choice. Now, I get it. You see my bet on the whole thing. But I can't tell you that the. Other side, the loud millionaires are wrong. I just. They don't. For me, they're not. They don't. They aren't the kind of way I want to live. They aren't part of my values. And so I think that, that you get a chance to look at and say, as I'm building this journey, as I'm building myself to financial freedom, you want to take the path of quiet? Do I want to take the path? I think quiet has more to give you. I think quiet keeps you in your values. I think quiet gives you your joy. Points, your fulfillment and everything. I think quiet gives you the peace of mind that you deserve. All right. I hope that this helps. I hope this gives you something. Maybe it gives you an inkling into what drives me. I don't know, but I thought it was an interesting topic and I wanted to kind of a video and an episode around this to kind of give you my thoughts on this and hopefully. Maybe sway you a little bit to the quiet side of life. Live fully, to live with deeper impact, to live richly where you experience it. Based on your values. To be completely free, free of the. Judgment on the outside, free from feeling like you have to parade it, free to have the peace of mind that you've created something that allows you to live the life the way you want to live it and then pass it. On to the generations to come. I hope that this helps. All right. I can't wait to see you on another episode or on the road. And until we get a chance to. See you down the road, always, always strive live a life that outlives. Cheers.