Is Investing a Status Symbol?
Investing is now cool. It’s the ultimate level-up.
Let me explain why.
When it comes to markers of wealth, dressing in a certain style, owning certain products, and visiting luxury establishments can all signify that you have money.
You’re not necessarily rich (or you might be), but you are doing okay financially.
This image, as we know from social media, can easily be faked. After all the ‘old money’ look has been popular on TikTok now for a few months, and there will always be YouTube videos about looking rich on a budget.
Signaling wealth to others has always been popular. To have status is to be cool.
Many luxury brands, especially those with large visible logos, are catering to people who want to show off this image to the world. It’s also why the knock-off market is thriving. Everyone wants to look more wealthy than they are.
And now, since investing has become more mainstream and popular, has it become the new status symbol?
Instead of gossiping over a coffee with your bestie at your regular Wednesday cafe, it is now cooler to discuss which companies or ETFs you’re planning to add to your portfolio.
We’re buying stock of Amazon instead of shopping there. (Okay, we’re doing both, I’m still a fan of that overnight shipping).
In my friend group, we’ve gone from discussing clothes and TV shows, to how our portfolios are doing and where we think they’ll go in the future.
I know. It’s definitely the company that I keep now. I’m not naive to assume that everyone talks about the stock market on the regular.
Before I started investing, I didn’t know anyone else who invested. It was reserved for the rich and wealthy. Not for someone like me. Or so I thought.
Until it was someone like me. Until I did start investing.
My status is now much higher than it used to be. Ahem. Not to boast or anything. All because I started investing (and talking about it).
It’s one of the easiest ways to signify a higher social and economic standing. For real. Own shares in a company. Or an ETF or two. You’re now an investor. Building wealth. You go, girl!
And anyway, owning shares is much cheaper (in my opinion) than buying luxury cars or designer handbags. Not to mention that it’s way more of a flex because it’s less showy.
Didn’t you know it’s cool to invest in your financial future?
So how do you increase your status and become one of the cool investor people?
- If you haven’t already, open a trading account. It could be one linked to your bank, an established online trading website, or even an investing app. You choose which one suits your needs best.
- Decide how much you’re going to commit to investing. Regular contributions are best, so if you haven’t already, budget for a particular amount at regular intervals.
- Choose what companies you’ll invest in or which fund. Index funds or ETFs are usually a good start for beginners, but there is something about holding stock in the big companies too.
- Understand that it’s a long game. Act unbothered to the daily fluctuations.
- If you’re investing regularly then you’ll be buying more when the price is down and less when it’s up. You get to buy more when the price is down. Yay, it’s a sale!
- Let compound interest and time do its magic. If you’re investing regularly over the long term then you just might find that there are more benefits than actually just increasing your status. You’re building wealth too. And isn’t that way cooler?
Don’t stress, keep things simple, and level up your finances. It’s the ultimate status symbol after all.