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PA Is Boring

The thing I like about PA, is that it's boring.

I find it odd that the glitz and glam places have the worst natural disasters.

Florida... Hurricanes.

Southern Cali... Fires.

"Oh but PA gets cold!  And it snows."

I'll takes it!

At least PA isn't in an apocalypse scenario a once or twice a year.

The thing about Philly and PA is that there's all these old buildings that have been around for hundreds of years.

Yes please.

I guess my thing is, I don't like the whole, burning ship scenario.

Hurricanes, storm surge, run for your lives!  Burning... Evacuate!!!!

I like stability.  I like predictability.

I like to sleep at night.

I like to know that the rug isn't about to be pulled from under me.

This is why my lifestyle is how it is.

A lot of people don't mind renting, that ever present feeling of temporaryness.

They don't mind leasing a car.

They go on vacations where they have a temporary experience and then it's back to the world they live in.

My thing is... YES, I might rent, I might lease a car, and I'll certainly go on vacations... Once I get my initial setup complete.

A lot of people do business on debt.  They borrow money to start a business.

My thing is... it's too risky.  Yes, you get SOOO much more growth...

I'm just old school I guess.

Very old school.

I'm a cash and carry kind of guy.

My plan is...

Own house.  Build business headquarters that I own.  Own car.  Own investments that pay income.

Own own own.  Build income.  Buy house to rent out and create more income.

Own income stocks/bonds/REITS.

Fund business ventures with cash income.

Make music.  Start small businesses.  Buy shares in small businesses.  Branch out slowly.

That's the key.  I'm in no race... I'm in no hurry for anything.

Everyone is in some big hurry.  I'm in no hurry.

Who knows how long it might take me to do anything.  I do it at my own pace.

But my thing is... I want growth in a way that is raw income feeding the next phase.

So, I don't want to borrow to grow.  I want to incorporate my own business, generate solid income... And then pay for the next thing with that income.

My other thing too is... I'm not a fancy car, or fancy house kind of person.  I don't care for 5 star hotels.

I don't care for beachside resorts.

I'm a fan of living small personally, and growing my income streams.

Why is this?

I'm not trying to offend anyone.... But the brutal honest truth is... it's because I come from money.

See, people who don't come from money.... They are sucked into fast cars and jewelry and big screen TVs and all that glitz and glam.

If you come from money... As I have, and my grandparents were millionaires when I was born...

You don't buy fancy stuff in the sense that people who don't come from money do.

It's just a fact.

Most of my also wealthy family friends who I've known since we were born... Don't spend money on two things...

Cars.  And TVs.

They spend money on houses.

The people who I know who don't com from money... They have big ass TVs and obnoxious cars... And they rent.

It's just how it is.

Old money owns property.

New money... Owns glitz and glam.

Old money puts money into stocks.

New money takes money to the casino.

Casinos are a waste of time.  The only thing you should do with a casino is buy shares and collect the dividend.  Or own one.

Old money owns businesses that generate cash.

New money?

Spends money.

You can tell people who are new money, or as my mom used to call those people, Nouveau riche.

https://en.wikipedia.org/wiki/Nouveau_riche

It's just how it is.

My mom always said... New money wears it on their back.  Old money puts it in the bank.  It's true as true can be.

When there's family lines of money... You know how investing works.  You know how owning businesses outright works.  You focus on VERY long term growth...

When you're new money?  You're that salesman who works at whatever corporation that does anything to make a sale... You make 100+k a year, but you own a fast car, you have a boatload of credit card debt, you're living WAY beyond your means.

Old money lives below their means.  So they make more money in income from their investments than they even spend and reinvest the income so that their wealth grows even more.

It's just in my genes I guess.

Florida and California are a bit like Nouveau riche.  Miami.  Obnoxiously glitz and glam.

It's just not me.

Main line money?  Ardmore, Bryn Mawr, Wayne, Devon, Malvern... Old money.

It's just how my grand parents were.

Some people.... Have the mentality that... Oh, might as well spend it while you got it!  Can't take it with you when you go!

My family doesn't share that view.  My mom and grand parents and their family line...

It's selfish thinking to say, can't take it with you... It's your responsibility to assist the next generation, and to teach that generation to teach the next.

Anyway, I'm old money.  Always have been, always will be.

I prefer to have last years model for a TV, and last years model for a car.  I prefer to have old clothes... and old school by not having debt.  I pay my credit card off in full each month.

Old money.

I don't buy into the glitz and glam.

Own property.

Find things of value.

Build equity and wealth.

Stability.  Not shoot for the stars.

Anyways... That's why I like PA.  It's boring.  It's dull... it's old money.

I'd never in a million years live in Miami, for example, where it's all just look at my car, and boat... It's just not impressive to me.  A smart brain and creative wit is what does it for me.

A night out at Science After Hours getting my learn on is what makes me happy.

That connection to the past.  That feeling that something lasts.

That's where my joy lies.  Slowly and honestly building up investments and ownership in things.

Not financing it all with debt that may never be paid back.

For every 1 dollar in physical items that you have to show, you should have 10 in the bank.

A lot of the nouveau riche people don't even have money, in fact, their 1 dollar in owned property and physical items is actually backed by 10 dollars in debt.

It's just an irresponsible way to live if you ask me.  Hey, it may seem harsh... But that's my honest opinion.

I don't sugarcoat my thoughts... I'm old money and I'll admit it.

The faster a dollar is earned... The quicker it goes.  That's my view on things.  And some of the wealthiest people make money by not spending it.

It's a mindset... And the whole wolf of wall street fancy condo and boat and car and classy clothes... means eventually, it will come crashing down on you.

So, I'll stick with boring PA and build from a base that is backed with stability.

And I'll enjoy the snow when it finally does start to fall.