Richmond Dinh recounts how he stopped "playing the popularity game" (keeping up with the Joneses), saved the difference, and invested in property—eventually amassing a portfolio of over 10 properties and becoming a self-made millionaire. He contrasts upgrading material things (houses, cars, clothes) —which he calls "upgrading your cage"—with pursuing freedom. He frames the paradox of spending and presents step number one to getting wealthier: spend less and chase freedom rather than status.
Questions this video answers
Over 10 properties.
Spend less.
Chapters
And when you stop playing the poplar again, you become wealthy. But more importantly, I started investing the difference into property. And in a very short amount of time I amass a portfolio of over 10 properties. I became a self made millionaire. But during that time there was a huge period where I was driving the crappiest car out of all my friends. I wasn't living in the best home, I wasn't wearing the best clothes, we weren't going to the most fanciest dinners and I was quote, unquote, I don't know, I wouldn't call myself a tight ass, but I was smart with my money because I no longer wanted to keep up the Joneses. And that's when I first got a taste of what it takes to become wealthy. Because I stopped playing the Popularity game. And when you stop playing the popularity game, you become wealthy. Now in life you can become rich or you can become right, but you can't be both. And I was so inclined to want to become right instead of becoming rich and becoming right was playing the Popularity game. And I found myself moving towards freedom, or thinking I was moving towards freedom, when in fact I was just upgrading my cage. So the question I have for you is, are you trying to keep with the Joneses? Are you playing the Popularity game? Are you thinking that's going to get you freedom when in fact when you're just upgrading your house and upgrading your car, what you really are upgrading, you're just upgrading your cage. That was a big light bulb moment for me. I didn't want to upgrade my cage anymore. I wanted more freedom. And that's the paradox of spending. And so step number one to getting wealthier is to spend less. Yearn. Don't worry about what everybody else thinks. Chase freedom, don't chase upgrading your cage.