The Status of Looking Rich for Rebels

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Partial Transcript

[The following is a partial transcript of this episode of The Scott Alan Turner Show. Listen to the full episode to hear this story, listener questions, money hacks, and inspiring stories of people that are changing their financial lives. Subscribe to the free podcast on iTunes or Google Play]

In This Episode

  • Kara saved $33K for retirement in 4 years (without making more than $50K)
  • What new cars can you get a deal on right now
  • Why so many NFL players go broke
  • Are you investing with a firm that got fined by the SEC?

Listener questions:

  • My bank accounts were cleaned out by a scammer and now I have to start over (Nancy)
  • My bank wants to move me to a managed investment account (Han Solo)
  • Are there short term fixes for a credit score if I’m buying a house soon (Brandi, MA)
  • How can I lower my insurance premiums. My 16-year-old is getting his license. (Chenell, Jacksonville, FL)
  • When do you decide to keep stock options (Doug)
  • Are there credit card hacks that are easy (Nathan, San Antonio, TX)

Resources/links:

The future belongs to rebels, and there is a rebel in you.

The future belongs to rebels, and there is a rebel in you. Not the Star Wars, rebel alliance kind. Francesca Gino is a professor at Harvard and maybe a Jedi Knight. But she writes like a normal person and you can understand her. Which is why I like her.

Luxury = Status. That’s what we’ve been told. Too many people overspend on things they can’t afford, to impress people they will never see again.

Think about this: Rebel = Status.

BOOK EXCERPT

  • Rebel = Status
  • Red tie at a black tie party = Status
  • Gym clothes instead of fancy furs = Status
  • Red sneakers instead of dress shoes = Status
  • A beard instead of a tie = Status
  • Knowing you could buy it, but choosing not to = Status
  • Living below your means = Status
  • Rebel = Status

Steve Jobs of Apple always wore a black turtle neck
Bill Gates always wore an ugly sweater
Mark Zuckerburg wears hoodies
Clark Howard wears $2 polo shirts from Goodwill
It makes life easy – I wear black t-shirts from rock bands.

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I understand there are people in the world that get their self esteem from being seen. I get it. I bought Tommy Hilfiger shirts in college. When I had no money.

But its kind of like the cover models on Cosmopolitan magazine. Things start to sag. Things start to gray. Teeth fall out and suddenly their new nick name is Gummy Joe.

Have you ever been to an airport or subway station and noticed a man or woman in a really nice suit? No, because that’s normal. There is nothing special about it.

What about noticing someone with blue hair? A bone in their nose? Red sneakers? Someone that looks like they belong on stage.

Who has more status? Well, who was seen? Who was noticed more?

  • For people like us, your outside is never going to look as good as what’s on the inside.
  • For people like us, our self worth doesn’t come from our net worth.
  • For people like us, confidence comes from being or becoming rich, not pretending to be rich

People like us, have more status, because we rebel against showing status.

Listen to this quote from the book, I love this:

Do you want to follow a script, or write your own story?

Share that study with someone today and have them guess who the more likely buyer was. Fur coat lady, or Yoga pants lady. You know they are going to guess wrong.

It’s my hope you will recognize your status in life is what you choose it to be, not what someone else labels you as.

Quotes

The Status of Looking Rich for Rebels The Status of Looking Rich for Rebels The Status of Looking Rich for Rebels

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How I Saved Over $1,000 On Everyday Expenses

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