Originally Posted by
LifeisBeautiful
There are three families that are millionaires that are close to my husband's family. They have all bought luxury cars brand new, but as many have mentioned they love shopping at flea markets, and finding the best deal. None of them were born into money, all self-made. All of them made it from business and real estate, none from a t4. Many advantages to making money as a business, not as an employee. You pay tax after paying your expenses.
My husband and I are asset rich, but cash poor lol. We have almost 3 million in assets, but we put it all back into paying down the properties, improving them or buying more. We do own our own vacation property in Fort Lauderdale, but with three toddlers where are you travelling to? It was smart because it was a great financial investment at the time, and it made us able to still travel.
So, how do you define rich? Your net worth or cash flow?