Hiding Your Wealth (NOT a poll) :)

[ejman]

You have a lawn to mow? I don't even have one.

I do not flaunt my wealth because I do not have it. I consider people with an 8-figure portfolio wealthy, and I am not there.

Yup, until the three comma event happens I won't consider myself wealthy and since it will never happen (unless the Zimbabwe effect comes to play - I hope not) I'm not to worried about it.

 

[Souschef]

Sort of like that movie where a woman was pretending to be a man who pretended to be a woman... the mind boggles - I can't quite remember the movie?

Victor Victoria-James Garner, Julie Andrews, Robert Preston, Alex Carras

 

[GrayHare]

stillruns.com belongs in this thread, as well as in a few other recent ones

 

[NW-Bound]

Here ya go.

Whoa! If that's not flaunting, I do not know what is. I am not a woman, so wonder what other female readers would think.

 

[NW-Bound]

This picture was taken from the balcony of our hotel in Monte Carlo. My son worked for Marriott, so we got the family rate. The room overlooked one of the marinas there. DW watched as a boat pulled into its slip, and said,"that boat has bow thrusters!".

That's a very nice one. But I wonder if its owner would feel envy if he docks next to the following one. It's 660-ft long, and has two helipads. Where does your visitor land his chopper if your boat has only one helipad?

This baby costs US$770M.

Oh, by the way, we stayed once in the Marriott in Cap d'Ail, right at the border of France and Monte Carlo, and which also overlooked the port of Monte Carlo. I wonder if it is the same Marriott you stayed at. From the hotel, we walked and toured Monte Carlo on foot.

 

[NW-Bound]

Speaking of boat envy, James Clark (CEO of Silicon Graphics, Netscape, Healtheon, myCFO) spent some big money to build the world's largest sailboat. Even before it was finished, he read about another sailboat having a taller mast than his, and got upset.

Taking the boat out for its maiden run, he had not yet finished the trip before thinking of building a larger one. And what struck me was that he did not even enjoy sailing. His boats were simply a status symbol. Bigger, taller than the next one is all he cared about. It's pathetic.

 

[2017ish]

Here ya go.

Wow. Your legs look like DW's. I'm sure lots of work/runs over the years to keep in shape. (She claims she runs regularly to justify the wines and chocolate. )

 

[HFWR]

Here ya go.

I'm relieved! I was expecting grey hairy legs... Must have misread...

Never quite figured why so many women shun "muscles".

 

[NW-Bound]

Come to think of it, my wife's legs look fairly good (she's trim at a BMI of 22).

Just for myself, I want to take a photo of her legs, but I'd bet she would get suspicious if I ask her to put on a pair of shorts now.

 

[dixonge]

His boats were simply a status symbol. Bigger, taller than the next one is all he cared about. It's pathetic.

Mast envy?

 

[athena53]

Wow. Your legs look like DW's. I'm sure lots of work/runs over the years to keep in shape. (She claims she runs regularly to justify the wines and chocolate. )

Yeah, being able to eat good food and enjoy good wine is definitely a motivating factor for me, too!

 

[Lucantes]

Useless without pics...

+1 You beat me to it!

 

[petershk]

I'm not sure any of us can honestly say "we don't care what others think about what we do/own/say/buy."

Not because I think it's impossible but because I think it's hard to evaluate yourself objectively.

I mean I wear certain clothes because they are comfortable and "I don't care what people think" but if fashion took a radical turn and suddenly everyone was looking at me oddly would I change? Maybe. Or... if fashion changed and I hated the new stuff is that because "I don't care what people think" or because I'm stuck in my ways which were established years ago when what people thought was different?

Similarly if you flaunt your wealth is it to show off for others or do you not care what people think and will buy whatever you like?

If you live way below do you "not care what people think" and won't impress them or are you reacting to the perception that people who guy cornice stuff are showoffs and you don't want to be seen that way?

I can't say. So... I don't try to do either very much?

I suspect that no matter what you decide you will feel you're doing what you want and it's those other people that are reacting to others

Sent from my HTC One_M8 using Early Retirement Forum mobile app

 

[Amethyst]

That's the only stupidity, as I see it. Otherwise, having a grand time at a resort, while saving money by cooking your own food, sounds plain smart to me

I

To add to the annoyance, I know they don't have the money for that and borrowed it.

 

[Amethyst]

To me it's just a picture of somebody who keeps their legs in proper shape. "Flaunting" legs would be if she wore a skirt up to her hoo-hah and 5-inch heels on her feet.

Whoa! If that's not flaunting, I do not know what is. I am not a woman, so wonder what other female readers would think.

 

[Danmar]

With some folks it is not about bragging about their wealth, kids, frugality or what have you, it is
about looking down on others who are not as smart, thin, wealthy, educated or virtuous as they feel they are. The "smug" gene comes in more than one flavor.


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Yes, agree. This is a common trait for many people. The primary characteristic I look for in my friends is being "down to earth". This implies a solid footing in reality and if wealthy, a sense of how "lucky" they are. There s nothing that ticks me off more than a wealthy guy who thinks he deserves it.

 

[Amethyst]

We are well enough off, that we were able to sell our 10-year-old, well-maintained, humble little car to someone who really needed it, for less than we could have gotten for it, and feel good about it.

It was eye-opening, how many people wanted that car. I lined up prospective customers in the order I received their emails, and the first customer, who was driving a taped-together beater that hardly looked like it would run, got our car. Another lady was frantically emailing me, "Do you still have the car??"

Maybe some of the people wanted our car so they could pretend not to have any money, but I suspect most simply could not afford better.

 

[DrRoy]

I'm pretty much in iceberg mode (only 10% shows). My house is average and I drive a Chevy (although I paid cash). If you put your wealth on display by what you buy then you won't hang on to it long.

 

[Danmar]

If you put your wealth on display by what you buy then you won't hang on to it long.

What do you class as "putting your wealth on display" and how do you figure doing that will result in losing it?

I don't try to "hide any wealth" I may have, nor would it even be possible in most cases. Certainly don't think I "flaunt" it either. Have been increasing any such wealth throughout. Do you think I should be doing something differently?

 

[Amethyst]

I assumed he meant a) you might accidentally spend it all and/or b) others will target you for spurious lawsuits and scams to get your wealth away from you and/or c) you will only consider the purchase price, not the maintenance and replacement tails, which could be more than you can afford.

What do you class as "putting your wealth on display" and how do you figure doing that will result in losing it?

 

[Danmar]

I assumed he meant a) you might accidentally spend it all and/or b) others will target you for spurious lawsuits and scams to get your wealth away from you and/or c) you will only consider the purchase price, not the maintenance and replacement tails, which could be more than you can afford.

Ok. A). not possible as we track/budget every dollar we spend. B) possible but I don't think having nice houses and cars would significantly increase my risk. In any event, presumably a wealthy person would be able to hire the best lawyers to protect against this. And finally c) not possible as I fully understand maintenance/replacement issues and our cash flow from divs and pensions cover all expenses and then some.

If somebody has these concerns, I suppose they should hide their wealth which probably means hoarding it to be passed on to any heirs?

 

[MichaelB]

I'm pretty much in iceberg mode (only 10% shows). My house is average and I drive a Chevy (although I paid cash). If you put your wealth on display by what you buy then you won't hang on to it long.

What do you class as "putting your wealth on display" and how do you figure doing that will result in losing it?

I don't try to "hide any wealth" I may have, nor would it even be possible in most cases. Certainly don't think I "flaunt" it either. Have been increasing any such wealth throughout. Do you think I should be doing something differently?

To me DrRoy's comment looked like another voice discouraging conspicuous display and consumption, which is the topic of the thread.

 

[Danmar]

To me DrRoy's comment looked like another voice discouraging conspicuous display and consumption, which is the topic of the thread.

No the topic is "hiding your wealth". Although "conspicuous consumption" is often in the eye of the beholder, I suspect we have unanimous agreement that that is not desireable or flattering.

 

[MichaelB]

What's in a name? that which we call a rose. By any other name would smell as sweet

 

[Danmar]

What's in a name? that which we call a rose. By any other name would smell as sweet

Except that I don't think we would have 149 posts on a topic that we all agree on? Hiding wealth goes quite a bit further than criticizing conspicuous consumption.