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Old 07-28-2016, 02:02 PM   #221
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My niece's husband used to fly for a guy who frequented Europe, awakening to the smell of breakfast as they traversed the Atlantic in his Gulfstream. That was an indicator of wealth that I could only imagine.
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Old 07-28-2016, 02:13 PM   #222
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I know someone who likes boats, so not only did he buy a boat, he bought the boat company, too.

But that's not a sign of wealth. The sign is that the boat company is never going to be profitable, but it just doesn't matter.
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Old 07-28-2016, 05:52 PM   #223
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The hell of owning a really high end car is that you really should have a second/third car for when you'll be leaving it in a shopping center parking lot.
LOL!

We just have one car and if it needs a day in the shop Enterprise picks us up to get a car for $35 a day. And then drops us off again.
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Old 07-28-2016, 05:58 PM   #224
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Yup, I like to keep "a low profile", under the radar. Make 'em all think I'm broke.

Stealth wealth -

I look broke in my shorts and no shirt with my belly hanging out, my weedy lawn of mostly dirt and that 2003 Taurus in the driveway. You can't see the 4 motorcycles in the garage either.

Muhaha!
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Old 07-28-2016, 07:06 PM   #225
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Yup, I like to keep "a low profile", under the radar. Make 'em all think I'm broke.

Stealth wealth -

I look broke in my shorts and no shirt with my belly hanging out, my weedy lawn of mostly dirt and that 2003 Taurus in the driveway. You can't see the 4 motorcycles in the garage either.

Muhaha!

I readily admit that I could step up the spending if somehow an extra digit got added to my portfolio, but most of it would be imperceptible to a casual observer.
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Old 07-28-2016, 07:10 PM   #226
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I find it fun to try to live better but on less money than we used to spend. I play beat my own budget as a game...
Just goes to show you there are all kinds of differing personalities that find a common community in this forum. I think it makes the discussion stronger.

One of my unstated goals (err..desires?) is to absolutely NOT do what you describe as fun. Don't get me wrong, I just thoroughly enjoyed spending $300 on about $2000 worth of equipment at Sports Authority as they were going out of business. An easy 70%-90% off is super fun. I also enjoyed the 30 seconds I spent finding a 20% off coupon for an activity I just booked. No reason to waste money.

But - to hunt, dig, scrounge, and haggle for every extra dollar on everything. No way.
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Old 07-28-2016, 07:22 PM   #227
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1-I have splurged on business airfare a few times. But it must be a relatively good "deal".

2-I find pleasure in discovering cheap yet good food. I enjoy a nice fancy dinner from time to time...but I reserve those for special times...like birthdays or anniversaries.

3-I have become a bit choosier about hotels. I always check tripadvisor first. Doesn't have to be the fanciest place...just nice relative to cost.

4-I just spent $6000 on a surgery for my dog. I love him like a son so I was grateful I have the means to do it.

I really struggle with spending. My NW is in the 8 figures yet I still feel guilty about spending it. Ultimately, I must feel there is value in where my money is going or I am not likely to let it go. . . whether a $10 meal or $2000 airline tickets. It all boils down to value to me.
I really liked this post.

I might rephrase my original question to you. What things would a wealthy person think of as good value for money that others would not?

A recurring theme here from this seemingly frugal crowd seems to be value for money. Does anyone ever look at it from the other side, "Hey, my NW is 8 figures. If I buy a $1K coach ticket or $5K business class ticket my NW will be the same. I'm going in comfort!" I guess I mean looking at it from "damage to NW" vs. "value for money."
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Old 07-28-2016, 07:28 PM   #228
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The first time I felt wealthy was when DW and I helped a friend who, through no fault of her own, was in a desperate situation and we covered her bills for several months without any impact to our lifestyle. When she got back on her feet she wanted to pay us back, but we didn't need the money - we just told her to use it to help someone else. Getting the money back would not have made an impact on our lifestyle either.
That is a great "indicator." Thanks for the post.
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Old 07-28-2016, 07:31 PM   #229
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Hehe, I actually went through this scenario when I was on my last few weeks at work. One of the guys asked what kind of car I was going to buy (we all had Co. cars) and that got me surfing. I found that I could afford a Maserati and actually planned a visit to a dealer to look. But then I started thinking. If I parked a Maserati in the driveway of my modest tract house the neighbors would not look at me the same and I would need a bigger house in a more "upscale" neighborhood. And that would be expensive.

See, my "frugal genes" protected me from irrational exuberance -
Ha - good one!
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Old 07-28-2016, 07:34 PM   #230
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I used to think getting a massage was a little too unmanly for me. A little too touchy feely for my style. But now that I've had one I realize just how fantastic they are and I'm over any such concerns. High quality ones geared for sports recovery are amazing.


So, my amazing wealth indicator would be to have my own personal masseuse to use multiple times a week as desired.


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Everyone in Thailand is wealthy then! About $8/hr for a high quality massage at 1,2, or 3 hours long. Im not kidding. And no ...people....get your minds out of the gutter. I'm talking normal massage.
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Old 07-28-2016, 07:36 PM   #231
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I keep a spreadsheet of the value of my bargains / contests / discounts / freebies each month. I am at almost $2K this month so far with not many hours of "work" a week, and most of that is not taxable. On a proverbial $1M type of nest egg that would be a ~3% before tax WR equivalent I do not have to take out. Plus we have to watch our taxable income to keep our ACA subsidies, so the nontaxable discounts help with that.

With money saved there is no SS taken out, no income taxes to be paid, no commute, no set hours, no customers, no boss, no boring meetings, no deadlines, no work clothes, no train fares, no parking fees, no tech classes to take to keep my skills up to date, etc. so I think after everything added up my bargain hunting is not too bad of a per hour return on my time compared to some other hobby job type income I have with taxable 1099 type income.
Can you give me some examples from your spreadsheet for this month?
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Old 07-28-2016, 07:46 PM   #232
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Yup, I like to keep "a low profile", under the radar. Make 'em all think I'm broke.

Stealth wealth -

I look broke in my shorts and no shirt with my belly hanging out, my weedy lawn of mostly dirt and that 2003 Taurus in the driveway. You can't see the 4 motorcycles in the garage either.

Muhaha!
My impression of "stealth wealth" or "millionaire next door" has always been just someone who lives like they always have - because that is who they are and they either dont want to or find it too hard to change.

But now you are saying that a large factor is might be about fooling the neighbors, peers, and coworkers? Can you elaborate on that? You might "deprive" yourself of the Maserati that you want because fooling them is even better?

Is it just for the thrill of the bluff where you really have 4 aces but make them think you have king high?
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Old 07-28-2016, 08:11 PM   #233
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Can you give me some examples from your spreadsheet for this month?
I am not sure why you would want more information when in the previous post you said your goal "is to absolutely NOT do what you describe as fun".
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Old 07-28-2016, 08:57 PM   #234
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I am not sure why you would want more information when in the previous post you said your goal "is to absolutely NOT do what you describe as fun".
Well, I still like to learn from others and am open to changing my approach. The numbers being thrown around peaked my interest.

On the other hand, if the spreadsheet shows that you bought $500 of clothes at Kohl's and they told you there were $1000 in savings (because everything is always on sale there)....well then I need look no further. What harm?
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Old 07-28-2016, 09:58 PM   #235
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Well, I still like to learn from others and am open to changing my approach. The numbers being thrown around peaked my interest.

On the other hand, if the spreadsheet shows that you bought $500 of clothes at Kohl's and they told you there were $1000 in savings (because everything is always on sale there)....well then I need look no further. What harm?
There is a thread with on that topic here with contributions from many forum members (including me):

Freebies and deep discounts?
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Old 07-28-2016, 10:38 PM   #236
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For me it was the "whole joy of retirement" kicking in at the end and my co-worker asking the question. Which got my giddy mind working overtime.

I live in a modest tract house in a modest neighborhood. I like the house and the neighborhood, always have. Comfortable and a nice view.

Somehow the Maserati did not "fit" in the driveway.

So I put all the "giddy thoughts" on hold and decided to just coast for a while and not rush anything. I like it here, always have.
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Old 07-28-2016, 11:36 PM   #237
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Instead of asking about "indicators of wealth", which implies some types of consumption that are obvious to an observer, the OP could have asked "what do you splurge on when you reach FI".

There was a thread on splurging a while back. And yes, people splurge on different things. Nobody can splurge on "everything". Even if you were as rich as Buffett, where would you store all that stuff?
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Old 07-28-2016, 11:40 PM   #238
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Instead of asking about "indicators of wealth", which implies some types of consumption that are obvious to an observer, the OP could have asked "what do you splurge on when you reach FI".

There was a thread on splurging a while back. And yes, people splurge on different things. Nobody can splurge on "everything". Even if you were as rich as Buffett, where would you store all that stuff?
Maybe so, but that still doesn't capture what I was after. I don't consider not eating at Denny's splurging (although some might).
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Old 07-29-2016, 12:12 AM   #239
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I don't think anybody consider eating at Denny's splurging, unless you are really, really down on your luck and do not even have a few bucks. But in the 1st post, I thought that you meant that people with money should rule out ever eating at Denny's. These are not the same thing.
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Old 07-29-2016, 05:55 AM   #240
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Maybe so, but that still doesn't capture what I was after.
You may be asking for indicators of wealth but all I see posted are indicators of spending.

Whether a private jet, Maserati or a mansion, they don't indicate wealth. They could indicate wealth, but everyone on this forum has stories about the 'rich' guy down the street who was really $1MM in the hole.

I'm not sure there is a true physical indicator although there may be intangible ones. An intangible indicator might be waking up every morning knowing that you can do whatever you want to do and not worry about how to pay for it.
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