The Problems That Come With Being a 30K Millionaire

30k millionaire problems

30k millionaire problems

I’ve recently been introduced to the concept of the 30K millionaire. Apparently, the concept has been around for several years, but I first heard of it about a month ago.  So, what exactly is a 30K millionaire?  I decided to do some research and share what I found with you.

So, What Is a 30K Millionaire?

The quick and dirty answer – many people refer to this person as someone who is a “poser.” A person who wants to project an image of wealth and importance, despite being broke. A lot of the definitions on the internet are harsh, to say the least. Weeding through the nastiness, you get an image of a recent college grad or someone who never went to college – someone working an entry level or menial job, but spends and lives well beyond their means. The Urban Dictionary has a definition that is somewhat brash, but funny. Check it out here.

For example, leasing a BMW, when a used Chevy would be more in line with their income. Eating out every meal, when brown bagging it is probably a better idea. Going to clubs nightly, shopping for expensive clothes on a regular basis, and basically living a lie at every turn. They are often so obsessed with maintaining this false image, that they rack up a huge amount of debt and are secretly miserable and stressed. So, why the charade?



This is nothing new. 30K millionaire is just a new name for a new generation. The idea of trying to portray an image of importance and wealth, or trying to keep up with the Joneses goes back quite a ways. Whether it be ego or jealousy, some people will go to great lengths to portray an image to their peers that they are wealthier than they really are. I bet you know several people like this. You probably have a co-worker or two driving an expensive car that they can’t afford, or wearing an article of clothing that was paid for by Visa.

How to Avoid Being a 30K Millionaire

So, how do you avoid being a 30K millionaire? Peer pressure is a tough thing. The desire to impress is strong. But, if you act rich when you aren’t, you are living a lie and putting on a show. Eventually, your house of cards is going to fall apart. And, anyone who is worth your time or attention, is going to see right through you. So, be honest. Be true. You can go out and have fun, and have nice things, but it’s best to set boundaries and stick to a budget and a plan.

This doesn’t mean being cheap or dressing in rags, but you do need to live within your means. If you find yourself financing your lifestyle with credit cards, then you are going down the wrong path. Create a budget based on your income and live accordingly. You likely won’t be going out to eat everyday or going to the bar every night, but you’ll find yourself happier in the long run, less stressed, and maybe most importantly, you’ll live a more honest lifestyle. It’s a hard thing to do, but you really can’t worry about what your peers are doing, or what others might think of you.

In Closing

In conclusion, instead of pretending to be rich by going into debt, stay out of debt, live more modestly, and actually become rich.  It’s certainly not as glamorous, but it will result in real wealth. One day you’ll be able to sit back and watch as the 30K millionaires around you desperately try to convince their peers that they are rich despite being broke, all while you secretly sit on a comfortable nest egg.

Do you know any 30K millionaires? Share with us in the comments below!

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