You've Got to Feel this Blanket

The Rise of Deinfluencing

We’ve covered this a few times already (can you say ad nauseam) but, if you want to build wealth, you only have a few options. You can:

• Earn more (including finding other streams of income) ideally… 

• Find passive income streams

• Invest for a positive return (higher than inflation)

• Reduce the amount of taxes you pay

• Avoid high-interest rate debt  

• Inherit 

• Reduce spending   

That’s kind of it… 

If you know of others, please call me right away

And, of this list, perhaps the most foundational of all - or at least the thing we have the most control over - is learning to control your spending.

A quick TRUE, TO MY HORROR, story before moving on. My 17-year-old got a package in the mail the other day and when he opened it up, it was a Lola blanket, the most luxurious blanket I’d ever touched (by a mile). And for good reason. It cost him $225. I’ll spare your tender ears the details of the ‘conversation’ we had after he ripped off the tags.

Let’s consider the possibility (I’m kidding it’s a screamingly definite mathematical certainty) that he continues to do dumb things with his money until he turns 22. But, then maybe, he pulls his act together and realizes how critical managing his spending is to growing his wealth.

Apparently it’s called being ‘deinfluenced’.

Have you heard of this concept? More on that in a second.

Suppose, at 22, he decides NOT to spend $50 per week and instead invests it. 

Just $50/week. It’s $7 bucks a day. (or... one dumb $200

purchase per month)

Assuming an 8% annual return, that simple decision could grow to nearly $1 million.

Assuming a 10% return, $1.9 million. 

Not $50k  

Not $100k

$1,000,000 - $1,900,000. 

So now back to this new trend - deinfluencing.

It’s the opposite of being influenced  

• Don’t buy the water bottle 

• That gadget? It’ll break

• These shoes won’t change your life  

• The ingredients in that skincare are the same as the CVS brand 

• A $225 blanket?!?! (choke)

Has the pendulum finally swung too far toward consumption? Is it finally starting to swing back?

I hope so and I think it’s a good thing. 

Because wealth isn’t built by consumption.

It’s built by owning things.

Assets.

Investments.

Businesses.

Real estate.

Cash-flow opportunities.

The goal is to spend intentionally.

To take back control.

To decide for yourself what is worth buying and what isn’t.

If you take that $50 per week and double it each decade as your income grows. 

• Age 22–32: Invest $50/week

• Age 32–42: Invest $100/week

• Age 42–52: Invest $200/week

• Age 52–65: Invest $400/week

At 8%, that could grow to approximately $2.8 million by age 65.

At 10%, more like $4.8 million. (choke)

Not because you picked the perfect stock, or you got lucky, or you read all the books…

Because you became harder to influence and you found things to not spend your money on.  

Have you been influenced or deinfluenced?