Have you ever heard the saying “rich as a Lannister?” If you aren’t nerdy cool enough to know what that means, I highly suggest that you click here and here immediately. I am very serious about this. If you love great stories, this is definitely for you. Do it! Do it quick! Do it now before it is too late!
OK…For those of you who are either still in the dark or are too lazy to click on the links, the Lannisters are a fictional family from George R.R. Martin’s series of novels entitled “A Song of Ice and Fire.” HBO has also made the books into a television series called “Game of Thrones.” The main story line revolves around the dealings of several noble families living in the fictional country of Westeros. The Lannisters are the richest and - arguably – the most powerful of these families. They command the allegiance of one of the largest armies, and Lord Lannister’s daughter is married to the king. Think of the Lannisters’ wealth as akin to that of Bill Gates, Warren Buffet, and the Koch brothers combined – assuming that those billionaires granted loans to the federal government.
So, now that we have the boring formalities out of the way, what does it take to become “rich as a Lannister?” Well, I hate to burst your bubble, but let’s be honest with ourselves; no matter what we do, most of us will never have the opportunity to become as rich as the Lannister family. However, no matter how it may seem, becoming independently wealthy is something that is within our grasp. By following the Lannisters’ lead, we too can be on the road to financial freedom.
Pay Your Debts
(Image courtesy of God’s Facebook Page.)
If there is one thing you can say about the Lannisters it is this: “A Lannister always pays his debts.” While this saying applies to more than just monetary matters, it certainly applies to their finances as well. If you want to be as rich as a Lannister, learning to pay your debts is the first place you must start.
Really, the equation for becoming rich is quite simple. The less you owe, the more you are able to save. Think about how much money you could save if you didn’t have a credit card, car, or mortgage payment. While our “spend now, pay later” culture may try to convince you otherwise, it actually is possible to buy things using cash. Not only is it possible, but it is the best way to limit your spending and build wealth quickly.
Our friend William at Drop Dead Money recently said that “Debt is nothing more than impatience.” I couldn’t agree with him more. Becoming rich takes time and patience. Buying things you can’t afford in order to make yourself appear wealthy simply drags the process out longer. So, stop using credit debt in order to make yourself look wealthy. Instead, and start gathering cash in order to actually become wealthy.
Mind Your Own Business
Although owning all the gold in Casterly Rock may not be in the cards, being rich is still attainable. However, taking care of your own business is a must. Most people didn’t become rich by inheriting a crap ton of money. (That is an official unit of measure according to this.) They became rich because they were minding their own business. But, what does that mean?
The Lannisters’ profession may be acting as the ruling family of Westeros, but their business lays in several different areas. They are bankers, politicians, and soldiers. Only through these businesses are they able to perform the duties of their profession.
Ray Kroc of McDonalds fame was fond of saying that his business wasn’t making hamburgers. Instead, his business was real estate. Why? You can buy a hamburger almost anywhere – many of which are “better” than McDonalds. However, you can find the McDonalds brand on almost any busy street corner. His business wasn’t making the best burger. It was purchasing enough real estate to make his burgers available in mass quantities to hungry consumers.
So, what is your business? Perhaps you are a professional accountant whose business is being a landlord. Maybe you are a nurse who sells cosmetics on the side. No matter what you do as your profession, be sure to pay attention to the ”side gigs” that can help you create riches much more quickly. Who knows? If you’re businesses are successful enough, they may eventually become your new profession.
Have Somebody Else Do Your Dirty Work
Whenever they need something done, the Lannisters have plenty of bannermen on which to call upon. Whether it is a cousin to serve as a diplomat, Ser Gregor Clegane to intimidate their enemies, or an ally to perform murder, the Lannisters know how to use others in a way that benefits their interests. While we certainly don’t want to act as dishonorable as the Lannister family, learning to use the work of others in order to increase your own earnings is an essential part of becoming rich.
Do you know many rich people who work “day in and day out” as an employee? In my experience, that number is very few. What the wealthy have learned is that employees can be used in order to create more wealth for themselves. Not only do they help to create financial wealth, but they also help to create the riches of flexibility and time for their bosses.
This doesn’t mean that you have to own a company in order to become rich, although that may be helpful. It means that you should use the resources available to you in order to save you time and money. Don’t have time to manage your rental properties? Use a management company. Do you lack the skills to design your own website? Find a workable template and get it running. There are plenty of ways to have somebody do your dirty work. All you have to do is look.
You Can Be Rich Too
Unlike the Lannnister family, wealth is not something into which most of us are fortunate enough to be born. While being able to s#it gold like Tywin Lannister probably will never be within reach, it is possible for even the most modest among us to become rich. All it takes is a little time, perseverance, and imagination. Give it a shot! You’ll be there before you know it.
About Greg
I love that show! Easily the best show I have ever watched.
I’m surprised you made no reference to paying the iron price. That’s by far the easiest way to get rich – provided you don’t get dead of course.
Glen @ Monster Piggy Bank recently posted..Setting SMART Goals
Good point. I suppose that it is, although I was trying not to advocate violence:)
Sounds like I’ll have to try and find the show – do you know if it’s on Hulu?
Mrs. Pop @ Planting Our Pennies recently posted..An Open Letter To Susan Cain, Author of Quiet
No, we had to order it off of Amazon Prime! It was a splurge but worth every penny.
I’ve heard good things about the show, but sadly we don’t have HBO (more like we don’t want to spend the money on it) and have not seen it. I am sure it’s probably available elsewhere to watch older seasons.
That said, I could not agree more with your point on impatience and debt. Too many of us get caught in that circle of wanting to spend money we don’t have just so we can look like the Joneses. It’s quite a simple rule to follow…if you don’t have the money to spend, then don’t spend it!! I find that when I don’t have the cash on me to buy something and I go on with my life that I really don’t miss whatever that thing is. Sure, there are many things I may want…but I want financial freedom much more than the shiny new whatever that I should not be spending my hard earned money on.
John S @ Frugal Rules recently posted..6 Simple Ways to Automate Your Savings
If you have HULU/Netflix, you can download Amazon Prime and order it there. You won’t regret it. I am rarely enthusiastic about TV shows…..it is awesome!
Veronica @ Pelican on Money recently posted..Tidal Wave of Updates Friday – Giveaway Included
I don’t watch much television and we certainly don’t have cable, so I’m a little out of the loop when it comes to these things. These are some great steps to building wealth though and guidelines that everybody can follow. Owning your own business is a big deal and it’s something I’m working towards!
Jason recently posted..Recipe: Kale Salad
I think you will get there, Jason!
I’ve only seen the first season of Game of Thrones so far, but it is a pretty entertaining show. One of these days I’ll have to find time to watch the second season too. You’re right that there are strategies that anyone can use to become wealthy. I think I do alright with some of those strategies, but I really should get back into more outsourcing. For some reason I stopped doing that and went back to doing most of the work myself.
Modest Money recently posted..How Is An Item Shipped From One Country To The Next Smoothly
We just started watching the first season for the second time. It is still awesome even though I already know what is going to happen!
Love the Mastercard ad. My husband has watched the whole series – I only saw one episode. I tease him that it’s a soap opera for guys.
Cat recently posted..Birthday freebies!
It is kind’ve!
I love this post almost as much as I love the show! Great comparisons!
mrsplungedindebt recently posted..How Losing $1500 in Monthly Income Changed Us For The Better
I cant wait until Season 2 comes out on Amazon!
Great points. I particularly liked this quote:
“What the wealthy have learned is that employees can be used in order to create more wealth for themselves. Not only do they help to create financial wealth, but they also help to create the riches of flexibility and time for their bosses.”
It’s so true that the rich leverage their money to outsource tasks that end up creating more money. Sure, at the beginning of a business you may be working insane hours, but once you have the revenue streams set up you can start outsourcing that to employees. That’s how wealth is built!
DC @ Young Adult Money recently posted..Save tons of Money by using the Library
Very true.
My favorite quote from the series is “When you play the game of thrones, you either win….or you die.”
Muahahhahhaha!
Thanks DC! You’re right – the more revenue streams we can create, the more wealth we can build.
I can’t wait to start watching the show. I’ve loved the books, except for the part that he KILLS EVERYBODY YOU CARE ABOUT (should have said spoiler alert ahead of that….sorry). Well, as they say, “Winter is coming.” (Don’t know how that applies…just felt good.)
AverageJoe recently posted..How to Fix Your Rotten “Get Out of Debt” Plan
I know! All of my favorite characters die a miserable death! So sad yet entertaining!
That’s why we, with a grimace and in pain, pay for cable: series on Showtime, etc., are quality. And no commercials! Think twice about use of a management company. I was busy with work and did so, and within two years the neglect and poor tenant choice/no supervision resulted in a wrecked, formerly very nice, property. And they charged $100 a month to just forward a check. You must tend to your own business.
Gregg Rice recently posted..Problems with Miss Translation
I agree- most of the shows that HBO puts out are awesome. We don’t have cable, but we can at least order the shows that we want off of Amazon Prime.
Great show (though I haven’t seen the 2nd season as I don’t have HBO/Cable and will have to wait until it hopefully becomes avalible on Netflix) and great books (again, just started the 2nd book but still love it:)
Bobbie @bogofdebt recently posted..How To Turn Losing into Winning With Your Money
I totally agree. I am a big fan!
Eff, yes. This is awesome.
femmefrugality recently posted..How to Be Happy
Ha! Thank you:) We think you are awesome!
Love the show and love this post… It’s one of the few reasons we still have HBO (Boardwalk Empire is great and so is HBOGo plus we don’t pay for HBO since you can always get it thrown in on a cable package).
When my work slows down a bit I will probably start reading the books.
The books moved a little slow for me….but Greg loves them!
You will love the books. They don’t move quite as quickly as the show, but they are absolutely fantastic. In fact, now that I’m further in the books, we have come back and watched Season 1 a second time. There is an awesome attention to detail and a ton of subtle foreshadowing that I didn’t pick up on before.
I thought that somewhere you were going to say that season two is out on prime! oof, hopefully soon. But I loved this post!
Kathleen @ Frugal Portland recently posted..20 Things to Do (and Not Do!) Before 2012 Ends
Thanks Kathleen! Alas, Season Two is not out on Prime. From what I’ve heard, we can expect it out sometime in the Spring. That is when HBO relased Season 1 in an effort to ramp up publicity for Season 2.
I have never seen this show, but I’ll have to check it out. Great post. I definitely agree that debt is impatience.
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That’s a pretty cool quote from William…at least I thought it was:)
Hey guys, thanks for the shoutout! The first time ever and you guys did it!
As for the show, I’m embarrassed to admit all I watch on TV is football. Our lives are pretty busy, so even that has to be put on DVR so we can watch it. But I like the analogy.
As for the rich putting minions to work, I’m not so sure it always works out for them – see this link: http://bit.ly/BWBusch
Having been on both sides of that equation (obviously not to that degree) I’m more inclined to favor the side of the worker. They can go home with much less stress, and if they don’t like it, it’s SO much easier to quit and find another job!
As for paying the debts, absolutely: you’re just so much better off without any. Debt is also a presumption on the future and we all know: anything can happen in the future…
I agree-William- about working for someone else. I’m so glad I do. I don’t need 100% of the stress of where I work. When I leave, I can put it outof my mind!
It’s like you’re talking about an alternate universe I wasn’t invited to. I’ve never heard of the Game of Thrones, yet there are parodies of it? Gotta check this out!
Lena @ WhatMommyDoes recently posted..Beginner’s Guide to Couponing
To be rich as a lannister you should work on promoting your online business using Empower Network’s to get extra cash.