Brendan Kane argues hard work isn't enough to build wealth. The real problem is spending: most people blow their income on DoorDash, new cars, and designer clothes instead of investing in stocks and index funds like wealthy people do.
You can't get rich by working harder. The real problem is your spending. Most people work their asses off, make a lot of money, and then spend it on DoorDash and Amazon. But rich people don't do that. They literally just use their money to buy more money. If you start small and keep building your portfolio, it's actually not very hard. But most people don't do that. Most people buy things that are never gonna make them rich. You have to stop buying watches, new cars, and designer clothes. You have to start buying stocks. Bonds, or index funds. If every dollar you make eventually leaves your portfolio, you're not building wealth, you're just renting someone else's lifestyle.
