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Originally Posted by TheColonel  It's funny, I know several multimillionaires - probably over 30 of them. The richest one used to be a billionaire, and now he's in the $xxx,xxx,xxx range.
Just last week, he told me he's spent the last 40 years scared and nervous about his money. I almost laughed at him. It's always been funny to my business partners and me that this guy drives a green Saturn and wears sweatshirts to work. When you go to lunch with him, he'll buy - but he tells you to leave the tip. He's a good guy, but he definitely does not 'experience abundance.' lols |
I think this is pretty common. Most first generation wealthy had to do a lot of scrimping to save up the stake that got them started in business, or trading, or whatever. These stakes are typically 5-6 figures. All the people who failed to do that saving are more or less excluded from the multi-millionaire pool. And yes, I know there are a handful that got wealthy on no-money-down real estate or blogging or something, but they make up so little of the first generation wealthy population as to not really merit discussion. What this means is that these people have almost all been pretty cheap at some point in their lives, and that biases the whole population so that cheapness is actually a common trait overall even long after the need for it is gone.
Now the kids of the wealthy tend to experience plenty of abundance, often in excess of the money available
