Where da rich peeps at?

*Fabulously Broke tweeted this image yesterday and I thought it was too good to pass up*

Being broke is trendy. Seriously, I think it’s the new black. I guess this is no surprise, being that the national savings rate is a measly 3%. Let’s be honest: If you ain’t broke, you aint cool. Wait. That’s the stupidest thing I’ve ever heard. Why is it “okay” to be broke, but taboo to be rich?

For example, a little over a year ago I was worth -$2,000. I could care less who knew I had a negative net worth, but now that I’m sitting pretty in the positives, I’ve realized I’ve become a lot more reserved when it comes to discussing my financial life. I have a fear that my peers will think I’m bragging or even worse, that they will begin comparing themselves to me. Basically, I don’t want them to judge or make assumptions about me, based off my account balances.

But honestly, we are ALL guilty of sizing people up from time to time. Dave Ramsey, for example, is one person that isn’t shy about labeling himself as wealthy and successful. Just about every time he does this my immediate reaction is “Wow Dave, a little arrogant today aren’t you?” But then I actually thought about what he said and I had an epiphany: Dave’s not bragging, he’s being honest. He is rich and he is successful. And ya know what? There ain’t nothin’ wrong with it baby! Mad props to you Mr. Ramsey, mad props.

I’m realizing it’s totally possible to be wealthy and humble at the same time. With a net worth of $41,000 I’m obviously not BIG BALLER STATUS yet, but seeing that the median net worth for a 24 year old is $1,475, I’m definitely ahead of the curve. Gosh even saying that makes me feel arrogant.

Has anyone else found themselves becoming more embarrassed by their net worth as it increases? Have you ever felt like someone was judging you, just because you make a lot of money? Why is it easy to say “I’m broke”, but difficult to say “I’m doing great”?

What are you saving for?

Seeing that I have already wrote two articles on saving this week, I figure it’s only appropriate to finish the week off with, yet another post, about saving. Consider these three articles the holy trinity of personal finance. Okay, maybe they aren’t that insightful…wait, actually they aren’t really insightful at all. Oh well, I tried 🙂

So we all have a desire to be rich, right? The word “rich” is totally subjective though. I would consider both, Kobe Bryant and Bill Gates to be rich, even thought there is a large discrepancy between their net worths. Being rich isn’t about reaching a specific quantifiable amount of cash, but instead it varies from person to person. Whether we are talking thousands, millions, or billions, I think we can all agree on at least a base line definition of wealth: comfort in knowing we have enough money to survive tomorrow.

Personally, I will feel wealthy when I have the ability to work any job I want, regardless of the salary. Imagine the freedom that would come with such financial stability! Not being dependent on employment income would be the best thing since sliced bread…Sure comfort, peace, and stability are all important reasons for accumulating wealth, but let’s be honest, we also wanna do some crazy awesome things with our hard earned moolah. Thus, the reason for today’s blog post title…What are you saving for?

I can think of a few things I want to do when I achieve great wealth…

1) Pay the Young Life summer camp fee for 50 high school kids that live in under privileged neighborhoods. This last summer I was able to take a charter bus full of these kids to camp through the generous donation of $30,000 from an anonymous donor. I got to be there and witness these high schoolers experience the best week of their lives! It was an incredible experience, and I can’t wait for the day I can do the same.

2) Buy a vacation property. I absolutely love skiing and have not been able to do enough of it since I have been living in San Diego (apparently it hasn’t snowed here since Dec 13th… 1967). It would be incredible to own a cabin in Colorado that I could spend a few weeks at every winter so I could get my ski on. Oh and I would get to said vacation property via my private jet of course 🙂

3) Visit each continent. I think it would be totally sick to go to every continent at least once. Sure Antarctica may be a little difficult to get to, but if you are loaded it’s probably more feasible. As of this point in my life, I can check one continent off the list (North America)… not a great start. Ninjafrica here I come!!!!

So those are three things I am saving for. What about you? Hopefully you have some plan to become financially abundant, what do you plan to do once you get there? Maybe take a year long vacation touring the world? Maybe you want to buy a killer whale and name it Rufus? Or perhaps you want to collect every action figure that has ever existed like this guy…

…whatever it is, I want to hear it. WHAT ARE YOU SAVING FOR?