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It’s easy to envy people with massive incomes, but they can also be suffering massive financial stress and, in fact, be utterly broke.


Just look at Michael Jackson, Mike Tyson and countless lottery winners over the years.

Whether you’re broke or otherwise has little to do with being rich or poor. Financial stability does however have everything to do with deciding “how much is enough” and having some discipline around money.

Living within your means, no matter the scale of those means, and having the discipline to put some money aside are the keys to financial stability, no matter who you are.

Your income has little to do with it. It’s true. I see it every day in our finance business. You can be a multimillionaire and still be living paycheck to paycheck. It’s only the number of zeros at the end of your figures that differ. The simple key to being wealthy is not adding as many zeros to your spending as you do to your earnings.

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Photo credit: Anatoliy Babiy/ iStock / 360/Getty Images

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