Financial Planning and Wealth Management

Don’t keep up with the Joneses (for your own financial well-being)

Rich people live in huge houses, drive shiny new cars, and always have the latest and greatest gadgets, clothes, and more. Or do they? The fact is, how much stuff a person has is almost no indication of how much money they have in their savings account. Actually, it stands to reason that the more things they have, the less money they have. Your neighbors’ new boat doesn’t necessarily mean they have more money than you, and it certainly isn’t an indication of their financial well-being (or how well they sleep at night).

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Author SAC FCU Managing Editor