Mrs. Dow Jones On What Building Real Wealth Actually Looks Like

Money is a value system, and a common misconception is conflating the value of money with self-worth. This can lead to people faking wealth or making irrational financial decisions based on perceived status rather than genuine financial health. Haley Saxs, known as Mrs. Dow Jones and a self-described "Gen Z translator for financial education," aims to demystify wealth building with her new book, "Future Rich Person: The New Rules for Building Wealth." Saxs addresses the pervasive myth of getting rich quick, emphasizing that the majority of millionaires achieve their status through slow, steady wealth accumulation: living within their means, spending less than they earn, and investing the difference. While acknowledging outliers like those with high salaries or successful businesses, she stresses that these are not the norm. The impetus for writing "Future Rich Person" stemmed from two primary goals. Firstly, Saxs wanted to create a finance book that people would actually finish. She likens it to putting "spinach in a brownie," aiming to make complex financial advice engaging, entertaining, and accessible enough to bring to the beach, yet delivering the crucial information needed to build wealth. Secondly, she recognized a significant disconnect between the economic realities faced today and the financial advice being offered. With soaring cost of living (up 67% since 2020) contrasted with minimal wage increases (7%), coupled with issues like student loan debt, housing crises, and evolving life timelines (later marriages, delayed parenthood, job changes), Saxs felt a need to outline modern wealth-building strategies that acknowledge these shifts. Saxs’s approach intentionally avoids judgment and shame, which she observes in much of the financial advice landscape. Instead, she advocates for a shame-free approach to financial goals, recognizing that everyone's vision of a "rich life" is unique. Whether it’s a desire for a simple, agrarian lifestyle or one filled with luxury goods and travel, the key is to make it attainable. She highlights a generational shift in social norms around discussing money, noting that while previous generations may have been more reticent, her generation is more open, though anxiety around confronting financial realities still exists. This openness, she believes, makes financial education more accessible. A core idea people might resist, according to Saxs, is the realization that "no one's going to save them." She acknowledges that the journey to becoming a "future rich person" is not easy, despite being simple in principle. She identifies "learned financial helplessness" as a prevalent issue, particularly among younger generations, where individuals focus on barriers and reasons why they *can't* achieve financial goals, leading to inaction. This mindset contributes to phenomena like quiet quitting and overspending, fueled by a sense of hopelessness about the economic climate. Saxs counters this by asserting that those who succeed are the ones who resist this narrative and recognize their own agency in building the lives they desire. Saxs also touches on the concept of nostalgia as a potential recession indicator, a topic explored on her podcast, "Financial Tea." She explains that when the future appears bleak, people often seek comfort in the past. This is observable in trends like the "Disney adult" phenomenon or the resurgence of certain pop culture icons. The popularity of Miley Cyrus's Hannah Montana anniversary special, for instance, could be interpreted as a reflection of a desire to return to a simpler, more stable time, serving as a comfort in uncertain economic periods. Regarding content creation and building her brand, Saxs identifies key equipment that has enabled her to produce content at scale. These include a good iPhone, various tripods (particularly a magnetic MagSafe one), a ring light, and a teleprompter app, which she admits she initially avoided but now finds invaluable for efficiency. She humorously notes that many creators use teleprompters but don't admit it, while she's happy to share this tip. She reflects on the time saved by using a teleprompter compared to memorizing, acknowledging the many takes often required to achieve a polished final product. For feeling confident and embodying the Mrs. Dow Jones persona, Saxs relies on distinctive fashion choices. She consistently wears large, vintage clip-on earrings and bright colors, which she feels define her on-screen presence. While Haley Saxs enjoys a more relaxed personal style, Mrs. Dow Jones is characterized by these bold accessories. She views her persona as a character that is also an extension of herself, especially when she's heavily engaged in business activities. In her personal life, Haley enjoys socializing, cocktails, dancing, and cultural experiences, such as attending comedy shows, theater, and concerts. She prioritizes spending on experiences that expand her mind. When discussing personal aspirations, Saxs mentions her dream of owning a biodynamic farm by the ocean, which she envisions as a retirement goal that might materialize sooner. This vision is rooted in a feeling of peace, relaxation, and connection to nature, complete with simple pleasures like drinking iced tea and having friends visit. She contrasts this with the often-hollow concept of "manifestation," emphasizing that having a clear vision and taking steps towards it is more tangible. She also expresses a desire for a full colored set of Rimowa luggage, acknowledging that this might be more about looking rich than being rich, but sees its utility for her frequent travels. Saxs also champions the importance of a good mattress, noting that such significant purchases are often de-prioritized in favor of more immediate, less practical wants. She describes her own mattress shopping experience as extensive and emphasizes how a quality mattress can profoundly improve one's life. When asked about the last purchase that brought her joy, Saxs highlights a watch she bought from Cartier, acquired secondhand. She views this as a financially savvy purchase, emphasizing that luxury items like watches depreciate. The watch serves as a reminder of the hard work and dedication that went into her book deal. She advocates for balancing financial discipline with enjoyment, suggesting that a portion of any bonus should be used for personal enjoyment. Saxs defines "real wealth" not by a dollar amount, but by being "well-resourced" and "well-lived." Being well-resourced means having the means for healthcare, supporting loved ones, and making a difference in the community. Being well-lived encompasses experiencing life, maintaining health, and nurturing relationships. She posits that it’s harder to have a lot of different things than it is to have a lot of one thing, referencing lonely billionaires as an example of wealth imbalance. For a go-bag at the Forbes Power Women's Summit, she would bring a power bank, her book, and electrolytes (Element or Perfect Aminos). For BravoCon, she'd pack Ziotic anti-alcohol tablets, flats, her book, and Charlotte Tilbury press powder. For a US Open tennis match, she'd include a baseball hat, snacks, and potentially a Sharpie for autograph opportunities. For a high-stakes project launch day like her book launch, her bag would contain snacks (peanut butter, meat sticks, protein bars), electrolytes, Excedrin for migraines, lip gloss, her book, a power bank, tissues, nipple covers, ID, credit cards, headphones, and a portable ring light. In summary, Haley Saxs's "Future Rich Person" offers a pragmatic and accessible guide to building wealth, emphasizing slow and steady accumulation, financial literacy without shame, and a holistic definition of wealth that encompasses both financial security and a fulfilling life.