Rich Guy Broke Guy
Once upon a time, two boys from very different walks of life would form an unlikely bond that would turn into many years of wonderful friendship. Many years after meeting at the age of 11, both of these boy’s lives would drastically change – sending them on very different financial paths.
One of these boys – the rich guy, would go on to amass a multimillion dollar fortune by the age of 30. While at the same time the other guy – the broke guy, would go on to, well.. become broke at about the same time.
How did this happen? How did a pair of best friends go on to take such radically different financial paths in life?
Let’s take a look at their upbringings to find out.
Family
By all accounts, both of these guys came from modest backgrounds.
The rich guy was born in the stable environment of a two parent household. The rich guy’s mother was college educated and both of his parents owned small businesses which were handed down from their parents. All in all, the rich guy had a quintessential middle class upbringing.
The broke guy, on the other hand, was born into a more unstable situation. Neither of his parents were college educated. His mother did end up starting a business but it’s success was short lived. What’s more is that the broke guy’s parents came from rough backgrounds themselves – environments of poverty, substance abuse, and afflicted mental health.
The broke guy’s father was known to be a man of great intellectual ability, but he was also haunted by a lifetime of trauma. Legend has it that the broke guy’s grandfather was hanged by white supremist to be found later found by his son – the broke guy’s father.
This lifetime of trauma led the broke guy’s father down a path of addiction. Probably to just numb the pain. But the foundation was set.
Money
Thanks to his brilliant mother, the rich guy was taught wise fundamental lessons about money from an early age.
His mother would have discussions with him about the importance of saving and living within your means. And she would demonstrate these things on a regular basis as she shopped for the best deals and saved up for large purchases.
The rich guy also received a regular allowance from his parents which afforded him the opportunity to handle an income and practice making financial decisions at a very young age. All of this under the protective eye of his wise mother of course.
As a result, the rich guy grew up to be good with money.
At the same time, the broke guy’s mother never had much money and what little money she did have would rapidly pass through her fingers as outflow to just keep things afloat.
As a result, the broke guy knew very little about money and grew up to be quite bad at managing it.
Early Education
Both of these guys were smart, but had very different educational paths from early on.
The broke guy began his educational journey in inner city schools being educated alongside other kids from similar backgrounds as his. He excelled in these environments, but it’s hard to say whether he was actually talented or if his success was a function of a less competitive academic standard.
At the same time, the rich guy began his educational journey in an exclusive private school featuring robust educational practices and demanding standards. Thanks to this, the rich guy was prepared to succeed in challenging educational settings for the long run.
Learning to Make Money
Having mastered the basics on money management early on, the rich guy embarked upon money making adventures at a young age. He did normal teenage things like having a part time job. But he also had more creative entrepreneurial pursuits.
He learned to download files from the internet which he would use to make copies of music, movies and video games. Some of this he kept for himself, but many others were sold to friends and classmates for hefty profits.
The rich guy even went on to become an early adopter of the credit card miles churning side hustle which he leveraged into hundreds of thousands of miles. Again, some were kept for personal use while many more were sold for cash.
Simply put, the rich guy knew how to make money.
At the same time, the broke guy worked a part time minimum wage job out of necessity. He used his small earnings to pay for a cell phone bill and to have a little bit of extra spending money. But that was it.
All in all, the broke guy only made money for the sake of survival.
College and Career
The rich guy would leverage his academic prowess for a free Ivy League education at a prestigious university. And while in college, he would give half hearted effort at best. Yet, he still excelled thanks to his natural brilliance.
At the same time, the broke guy would scratch and claw his way into a good state school and would struggle to maintain a less than average gpa. Furthermore, college was far from cheap for the broke guy as he took out thousands in student loans just to cover the costs.
Post college, the rich guy would land in a very stable career field and advance at a steady pace while the broke guy floundered about early on – settling for the first job opportunity to present itself. Which also happened to be the lowest paying and easiest career path to enter.
Getting Rich and Going Broke
In the early career years, the rich guy leaned on his strong financial skills and saved the majority of his income while the broke guy mindlessly spent with no solid direction.
As a result, the rich guy would accumulate hundreds of thousands of dollars in just a few years of working and aggressively invest in the cryptocurrency market – again, as an early adopter.
At the same time, the broke guy would haphazardly wander his way into real estate investing with no training, no plan, and most importantly – no real money.
This all culminated in the rich guy becoming a multi-millionaire before the age of 30 and the broke guy going broke at about the same time
Money Blueprints
This is really a story about money blueprints.
Many of the differences between the rich guy and the broke guy came down to the way they viewed and managed money.
The rich guy learned about money very early on and practiced what he learned. The broke guy missed out on such lessons and had to figure everything out as he went.
The rich guy also developed the skill of earning money, saving, and investing. Again, all skills that eluded the broke guy for much of his life.
The wonderful thing about money blueprints is that they can be updated. Both guys from the story certainly have more wisdom with money than they did when they were youths. The wisdom gained from the experiences of life can help them further refine their money blueprints for better financial success.
This process can apply to anyone looking to make improvement to the way they do things.
What's Your Story?
Like the rich guy and the broke guy – your story is still being written as every passing day provides a new opportunity to revise your money blue print.
What stories in your life have shaped the your thoughts and behaviors with money thus far? And what from your story propels you toward your intended destination versus what is currently holding you back?
Think about these things for a moment and don’t be afraid to update your money blueprint as you move forward.