We love inspiring “rags to riches” stories, but escaping poverty is no easy task.
Formerly poor men, what was your greatest hurdle when it came to achieving financial security?
r/AskMen
We love inspiring “rags to riches” stories, but escaping poverty is no easy task.
Comments
What’s financial security?
you want a real secret to maintain your wealth, aside from early investing in a 401k, a Roth IRA, and a HYSA? DO NOT TELL ANYONE how much money you are making. That’s when can i borrow X amount, can you help with Y cost, and this comes from family most of the time, b/c they’re as desperate as you were.
Now that’s not to say you don’t help your family but you help selectively and you do that knowing you’ll never see that money back.
personally, I live as minimally as I can, not buying stuff I don’t need and making my own food b/c it’s healthier and cheaper. IDK, there’s only so much you can buy that won’t make you happy after a while. Keep interests that grow you as a person, reading books, exercising, creating art, etc.
I am a WIP case. Suppressing emotion well enough for adherence to a budget is my primary hurdle.
Feeling like I deserved it after watching my parents struggle so hard.
Going from poverty to 70k~. You once you hit 100k and live a bit below your means then you can build wealth,security, and increase your income really quickly.