💰You're probably doing better than you think

read time 2 minutes

Hi there,

Ever scroll through Instagram and feel like everyone is doing better financially than you?

Someone just bought a house. Someone else is driving a brand-new car.

And somehow, everyone's vacationing in Europe.

But here's something I've learned.

Looking wealthy and actually building wealth are two very different things.

So instead of comparing yourself to what you see online, ask yourself these five questions:

1. Do you have $1,000 saved for emergencies?

A surprising number of Americans struggle to cover an unexpected $1,000 expense.

If you haven't started, aim for $1,000 first, then work toward $2,000 and eventually 3–6 months of expenses.

2. Is your money earning interest?

If your savings are sitting in a traditional bank account earning next to nothing, you could be missing out. For example, $10,000 in a HYSA earning 4% APY could generate roughly $400 in annual interest if the rate stays the same.

Check out my recommended HYSAs →

3. Is your retirement money actually invested?

Opening an IRA and depositing money isn't enough. You still need to choose investments.

Log into your account and make sure your contributions aren't just sitting in cash.

4. Is your car costing you too much?

A nice car might impress people, but a $1,000 monthly payment can seriously limit your ability to build wealth. And if you owe more than your car is worth, you're dealing with negative equity.

Don't let appearances dictate your financial decisions. And while you’re at it, check if you can save on your auto insurance costs, like these people:

5. Do you know your net worth?

It's everything you own minus everything you owe.

For context, Federal Reserve data showed that the median net worth of households under 35 was around $39,000 in 2022.

Your number isn't a competition. It's simply a way to measure your progress.

Here's my point. You don't need to look rich to become wealthy.

You need an emergency fund, smart spending habits, consistent investments, and a plan to grow your income.

And if you're not where you want to be yet, that's okay. Start with one thing today.

Because the people quietly building wealth aren't always the ones showing it off.

Using my affiliate link helps support my team and I to create new content for you every week. Thank you! 

- Milan and Team

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