Hiding Your Wealth (NOT a poll) :)

[Ronstar]

I know I'm dressed appropriately when people see me toiling in the yard and say " Look - they have a gardener"

 

[Danmar]

I'm actually a bit suspicious when I see people dressed to the nines in the latest fashion or driving around in Range Rovers. Sometimes they're the ones who spend everything they have and more to keep up appearances.

Could be, but maybe they are just wealthy? Not everyone who dresses well or drives a nice car is in debt to their ears. But if it makes you feel better assume away. I sometimes do too. Natural. But mostly when I see someone who is appropriately well dressed, I think "Nice outfit".

I like to dress according to the occasion. Sweats and t shirts certainly quite frequently, but on other occasions like out to a nice restaurant it's a sport jacket with blue jeans. Depends. Hardly ever wear suits other than to weddings or funerals, nevertheless, these occasions do happen from time to time so I am prepared.

 

[NW-Bound]

I'm so poor I mow my own lawn because it's cheaper than a gym membership.

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.

 

[Jack_Pine]

Could be, but maybe they are just wealthy? Not everyone who dresses well or drives a nice car is in debt to their ears. But if it makes you feel better assume away.

Exactly, have a guy on property behind me and occasionally here is Lambo winding up as it comes down the country lane. Out of my league but his grandfather patented the steel ball in spray paint cans, so......

 

[ivinsfan]

I hide my wealth all the time. My landlord clothes consist of a pair of Dickies, in Carthart brown, with the hammer loop. A few paint spots, a few holes.

I almost 100% of the time wear a Menards t-shirt, when I feel like dressing up it's one without paint spots on it...

Even a few friends have mentioned to be when speaking about FIRE, "You really do not have a lot of expenses"...

The lawn generally needs to be mowed, and I have an old furnace, a snow plow, and a old 16-slot mailbox in the driveway. Which has major asphalt holes in it.

Of course, if I wanted to work until I am 90, I could have a better appearance.

You probably forgot to mention the Menards T-shirt was free! I haven't paid any money for a work outside shirt or hat in 10 years...I'm a walking Menards add.

 

[ExFlyBoy5]

I think I have done this very well in my life and I get it from my parents. We live in a very affluent area but our house was built in 1978 and my Dad's house in 1973. They are both in great shape, but the style (and WAY TOO SMALL square footage of 2200-2400) is very dated around here. I am sure those that are making way to their 3/4 million dollar McMansions just cringe when they see me turn into our "old run down" neighborhood where the values are a measly 250-300K. Of course, I have a very big lot and mature trees and my taxes are a 1/3rd of the neighborhoods around me so I am pretty happy! I wouldn't want to flaunt it anyway...when I see how pretentious people act around here (who may very well NOT have a high net worth) there is no way I want to look/act like them. As far as clothes are concerned...yeah, they are clean but most are old and my wardrobe consists of jeans, t-shirts and cargo pants.

I think the Millionaire Next Door had the right idea...older cars and reasonable houses. Of course when the author died (he lived in our area), he was driving a Corvette and was on the way to his luxurious house in the Atlanta Country Club...so there is that!

 

[imoldernu]

Always fun to read an article that doesn't apply to me!

 

[ivinsfan]

Great article and I'm a shorts and t-shirt guy, usually with a few holes in the shirt. Neighbor lady recently complained to me about my old tennis shoes, so the next time she saw me I had them wrapped up with some duct tape just for effect.

I think in this day and age many people want to flaunt their so called wealth to impress others as to how well they are doing. There is a word in Websters for that "insecurity".

The shoe thing is funny, but the older I get the more I go for good supportive tennies, When I swap out a pair of shoes I am usually caught off guard by how much better my feet feel at the end of the day.

 

[gcgang]

Great site! Thanks.

 

[marko]

The wealthy are definitely getting a bad rap and a lot of resentment these days.

Just recently in line at a coffee shop, I was referred to --under his breath-- as "that a-hole who just got out of that Mercedes" as if I didn't belong there.

But I stopped worrying about what people think a long time ago.
Goes with the territory.

Had a very wealthy great-uncle who wouldn't smoke cigars in public in case 'people might think I'm rich' --but everyone knew he was anyway.

(And yes, I drove home in my car while the hipster with the comment pedaled his bike in the rain; I didn't beep as I passed him)

 

[calmloki]

I try not to poor mouth - people are aware we have rentals, though I don't normally include the number when they are mentioned. People are aware of how much time and work we put into the rentals. I very rarely mention that we make property loans or how many we have funded at any particular time. On occasion a defaulting loan may be mentioned along with the hassle and expense involved, more in the nature of a good story.

I'm up in trees pruning, fix toilets, and love yard sales with a passion. Day-to-day I'm no tall poppy (tall poppies get cut), but that is just my normal bent.

"Of the Australian definition, Peter Hartcher of the Sydney Morning Herald writes, "(Australian) citizens know that some among them will have more power and money than others... But according to the unspoken national ethos, no Australian is permitted to assume that he or she is better than any other Australian. How is this enforced? By the prompt corrective of levelling derision. It has a name—The "Tall Poppy Syndrome". The tallest flowers in the field will be cut down to the same size as all the others. This is sometimes misunderstood...It isn't success that offends Australians. It's the affront committed by anyone who starts to put on superior airs."

 

[Major Tom]

I hide my "wealth" by wandering around the neighborhood in pajama pants and slipper socks. People just think I'm crazy. Works a treat.

 

[Amethyst]

This is verging on Harrison Bergeron. https://en.wikipedia.org/wiki/Harrison_Bergeron

I'm more on the side of old Ann Landers who said, "Nobody can make you feel inferior without your permission." Then again, if people driving expensive cars made us feel inferior, we'd never be able to park at our gym. There's a different-colored Tesla there every week and Mercedes are common as gnats.

I

... But according to the unspoken national ethos, no Australian is permitted to assume that he or she is better than any other Australian. How is this enforced? By the prompt corrective of levelling derision. It has a name—The "Tall Poppy Syndrome". The tallest flowers in the field will be cut down to the same size as all the others. This is sometimes misunderstood...It isn't success that offends Australians. It's the affront committed by anyone who starts to put on superior airs."

 

[Midpack]

A variation on The Millionaire Next Door. Many millionaires just don't want status symbols, it's not that they're trying to hide their wealth.

There was a poll here quite a while ago that showed the collective value of homes here was (much) lower than average as a % of net worth - but not because we're all hiding anything.

 

[tmm99]

I hide my "wealth" by wandering around the neighborhood in pajama pants and slipper socks. People just think I'm crazy. Works a treat.

I actually do see people in pajama pants more and more in stores, so pretty soon, you will be the norm! (Wait, I haven't seen anybody with slipper socks though... )

 

[eroscott]

I drove a primer grey mustang to work for a few years and never went on expensive vacations. My wife drove a '96 honda civic.

When I got laid off by mega-corp at 47 and retired later that year most people around me were pretty shocked. They thought I was living off my severance and didn't realize it would run out!

My wife works at a job she loves and plans to for a few years probably until our youngest child is out of school and turns 26 (3 years).

I live in a nice but relatively modest home.

What sets off the bells now is the Tesla I drive. I think people believe that we have no idea how to manage money ... so probably don't think we are rich just foolish. Haha a 2% loan and use investment money to make that monthly payment. Our only debt and we could pay it off tomorrow if need be. I don't flaunt it on facebook or anything but don't deny I bought it after having a deposit on it for 3 years (when I was working).

 

[FIREd]

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.

+1. We are not trying to deliberately hide our wealth. There is just not enough to flaunt. Our portfolio only generates a middle class income, so we cannot afford to buy fancy cars, live in an upscale neighborhood, or join a country club anyway.

 

[Independent]

I have no desire to try to "hide" my wealth from other people. Why should I care what they think?

So the whole list looks rather silly to me.

OTOH, we've always been LBYM'ers. But that's not about hiding wealth, just the result of growing up with parents who lived through the depression.

We do most things on the list, but for an entirely different reason.

 

[athena53]

Could be, but maybe they are just wealthy? Not everyone who dresses well or drives a nice car is in debt to their ears. But if it makes you feel better assume away.

Which is why I qualified my observation with the word "sometimes". My Ex was all about appearances and didn't have two dimes to rub together, but I also know people who live a conspicuously good life and have the means to do it.

 

[Major Tom]

I actually do see people in pajama pants more and more in stores, so pretty soon, you will be the norm! (Wait, I haven't seen anybody with slipper socks though... )

Funnily enough, there was a guy standing in line in front of me at the checkout at Grocery Outlet the other day who was wearing slipper socks. He wasn't wearing pajama pants though. I have yet to see anyone wearing both at the same time when out of the house.

If I ever see anyone outside the house in such proud ER attire, I will invite him for a coffee immediately

 

[W2R]

I do not appear to be especially wealthy, because like FIREd and NW-Bound, really I am not particularly wealthy if wealth is assessed in monetary terms. I don't try to pretend that I am wealthy by buying status symbols, either.

I realize that I am better off than many. Still, from what I gather that is true for everyone in the US middle class and above.

 

[kcowan]

I know I'm dressed appropriately when people see me toiling in the yard and say " Look - they have a gardener"

I heard a funny story about the "gardener" chatting with the passerby who asked who much he charged and he said nothing but once in a while he gets invited to sleep with the lady of the house!

I like to dress according to the occasion. Sweats and t shirts certainly quite frequently, but on other occasions like out to a nice restaurant it's a sport jacket with blue jeans. Depends. Hardly ever wear suits other than to weddings or funerals, nevertheless, these occasions do happen from time to time so I am prepared.

I have more shorts than slacks but I still have 3 Hugo Boss suits that I keep for special occasions. More funerals that weddings these days.

Which is why I qualified my observation with the word "sometimes". My Ex was all about appearances and didn't have two dimes to rub together, but I also know people who live a conspicuously good life and have the means to do it.

We actually dropped the special insurance coverage on jewelry. Not likely to replace them. Seldom wear such trinkets anymore.

 

[tmm99]

We actually dropped the special insurance coverage on jewelry. Not likely to replace them. Seldom wear such trinkets anymore.

Yeah, something about FIRE. I never wore much jewelry to start with, but now I wear even less. No high heels either. I still think I look good in them (I am relatively short - 5'5), but I don't want to bother with them, and I walk more so it makes more sense to wear sensible shoes. Clothes wise too. I prefer shorts with comfy Ecco sandals over pants/shoes as long as weather permits. I still wear jackets I got free from my old w*rk because they are comfy too.

 

[txtig]

A few Sunday's ago, DW and I were boating with friends in Seabrook TX when a big thunderstorm came up. We quickly tied up at Outriggers, a waterfront dive bar/restaurant to wait out the storm. They had a good band playing a bunch of golden oldies. I was dancing with DW when I spotted a guy sitting at the bar in pajama pants (not sure what he was wearing on his feet). I whispered to DW that that was going to be me once I retire. She just shook her head . . .

 

[papadad111]

I was always in awe about guys like Buffett and Walton driving old pickups and living simply. Said if I ever made money i'd live the same as those guys. Of course we don't have that kind of money but still respect the low carbon low consumption footprint.

I can say 100 percent that we blend in. Even our teen kids don't know our NW. We all pretty much drive beaters. All less than 10k in value.

We have a few toys - a classic car and a few motorcycles but they are modest and any generic middle class guy might have the same.

I ride and wrench on old and ratty Harley's for fun, been doing that for decades, so usually I'm at least partially greasy. That adds to the effect. I usually wear a shirt and Levi's 501 unless I'm at school teaching.

When I teach I wear nice button down shirt and khakis usually with rock port comfortable loafers-- i try to come off as knowledgable but a simpleton. My DW is same as me.

Unless someone rubs my nose in their supposed wealth .... Then I take off my boxing gloves, and can dish it right back being unimpressed. I quickly discuss the places we've lived, the drivers and maids we've had, or portfolio strategy. Oh..and toss in for effect that we are retired in our 40s and these are just our "for fun and keep busy" jobs.

Usually we don't go there .... Better to just blend in. Even around close family who know we are FIRE they don't know our NW and we laugh at their "leased and mortgaged" fancy lifestyle ... Tried to help them a few times but ya can't fix stupid so we stopped trying to get them on a different path.