Skip to content

10 Reasons Why You’ll Be Wealthy Forever

You, my faithful reader, are going to be wealthy forever. So often I write about the idiots that spend $140 on a single meal or go on a $5,000 vacation, but this isn’t you. You’re different. You actually think about being wealthy someday and are taking the proper steps to build some serious wealth when you’re older. Here are the 10 reasons why I believe you’ll be wealthy forever.

20120217 - small house1) You bought a home that doesn’t make you house poor

Against my advice, so many of my friends have purchased homes at the very upper end of what the bank would lend them. They loved the house…for about a month, and then realized how much the payments were killing their social life.

You did not do this. Good for you! You still have a mortgage of course, but it is manageable and leaves you with some cash at the end of the month.

2) You don’t have car loans

Thank goodness you don’t have a car loan. Doesn’t that feel awesome?? Sure, your car may not be the most flashy, but it probably still gets you from point A to point B and it’s cheap to fix! By avoiding that car loan, you can put your money toward something that will benefit you for the long term.

3) You’re getting the company match by contributing to your 401k

Investing is not very exciting, but you are smart enough to understand that no one else will do it for you. There is no such thing as a pension anymore, social security is crumbling, so the only thing that’s left is your 401k! Those that dream of wealth will contribute enough to get the full company match every time, no matter if the market is flying high or dropping like a rock. Stay consistent with your contributions and your chance of wealth are great.

4) You don’t have any credit card debt

At 20% or more, credit cards are one of the worst forms of debt you can accumulate. You, however, will never get yourself into trouble because you don’t ever carry a balance on your card. By paying off that card each month, you pay zero interest and might even earn some rewards!

5) You have all of the proper insurance

There are way too many people that lose all of their wealth because of a medical disaster. You will stay wealthy forever because you have medical, home, car, and disability insurance (and possibly life insurance if you have dependents). Plus, you have an umbrella policy that will cover you in the event that something terrible happens to you or someone in your family.

20140916 - savvy spender money6) You reinvest your extra money each year

Just like a corporation would do, you gather up your profits at the end of each year and you look for ways to invest the money! Perhaps you started a business, bought some rentals, or invested your money in the stock market. It’s great when you have your money earning you more money isn’t it?

7) You don’t buy depreciating assets

The biggest swear word in your house is, “depreciating assets”. Okay, that’s two words, but you get my point. Beyond your car, you absolutely hate buying things that go down in value. A boat would be nice, but not only does it go down in value as you own it, the cost of fuel will yank hundreds of dollars from your wallet each weekend.

8) You eat well and exercise

Great job. You are fit and active and have no need for taking medications. Keep this up and you won’t waste all of your money on treatments, medicine, or doctor’s visits.

9) You have a 6 month emergency fund

Emergencies happen – you know that. That’s why you have 6 month’s worth of expenses stashed away in a savings account. If you or your spouse happen to lose your job, you won’t have to rush out to find a crappy job just to pay the bills. Take your time, set your head straight, and find your dream job.

10) You stay content with life and live simply

Many of those that have zero net worth are the ones with huge homes and fancy cars. They bought it all on credit and have absolutely no equity. You, on the other hand, have stayed content with life. Your home is modest and so are your cars, which is allowing you to build some serious wealth! Congrats!

So what do you think? Will you be wealthy forever?



My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. Hi Derek,

    This is Francis from the Philippines & I visit your site regularly. Great job on the articles! Been reading financial blogs for 6 years now but I started saving 10 years ago. I think it’s very important for everyone to aim to be wealthy.

    • Great to hear from you Francis! I’m glad to hear that you’re in the process of becoming wealthy, and I’m humbled to know that I am helping you along the way! Thanks so much for the comment!

  2. Lol Derek, I am with you ALMOST all the way!

    1) check – and paid for
    2) check – and in excellent shape
    3) check
    4) check
    5) check – except for long term care health insurance, unfortunately
    6) half check – not making as much as I should, too conservative
    7) check
    8) working on that one
    9) check
    10) check

    I have to disagree with you on the $140 meal and $5k vacations though, what’s the point of doing all the rest if you don’t let yourself do that once in awhile!! 🙂

    • Unless I had $1,000,000 in the bank, I think I might start into a cold sweat if I spent $140 on one meal! But yes, you are right, life should be enjoyed once in a while, but those big expenses should be planned, not spontaneous.

  3. I technically check on everything. I say technically because I’ve not yet bought a home. I’m halfway my apartment rental contract but when I get to buying I will only buy that which I need. I’ve in the past owned a house with my SO at the time and with what knowledge I have now it would have made both of us seriously poor. It didn’t feel like it at the time but breaking up and having to sell it actually has benefited me and I suspect him as well.

    • Sound like you’re going to be wealthy for life. Congrats Nina! Keep up the awesome work, and good luck with the house purchase when you decide to pull the trigger. Just remember, you can only occupy about 10 square feet at any given time. 🙂

  4. Man that was an exciting read as I was able to check these off! I’m sure many of your readers can check more off than the average person and I hope they share your articles so others can learn how to achieve financial independence.

    • I think you’re right Jessica. It’s great having readers that are already following the steps to attain wealth! Thanks for the comment!

  5. Very well written, we have to repeat these things again and again. I think I am lacking on exercise and recently we bought some depreciating assets but they were mainly for our new home. Now we are all focused to pay off the mortgage within 5 years. We don’t have any other loans.

    • Sounds like you’re ready to get back on track SB! Have you ever been mortgage free before?

  6. Whew – glad that I was able to check almost everything off of this list. I think #10 is most important – live simply and be happy with what you have. It’s that mindset that will help everything else fall into place.

    • Great point Autumn, because even if you have a ton of money, if you don’t enjoy what you have and are continually wanting more, then you’ll likely still spend your entire nest egg long before your retirement years. Thanks for the comment!

  7. I love this post! I think it’s so important to live within your means when it comes to purchasing a house and cars. It’s also an extremely smart idea to make sure you have the proper insurance to cover an emergency should it arise. Thanks for sharing this!

    • I would advise not only living within your means, but living well below your means. It really doesn’t hinder your lifestyle that much and it can really save it should an emergency arise.

Comments are closed for this article!

Related posts