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How do the young rich avoid solitude, fill their time?
Old 10-25-2015, 11:12 AM   #1
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How do the young rich avoid solitude, fill their time?

The recent thread "Coping with Excessive Solitude" got me to wondering about people who are wealthy at a 'younger age'. This might be due to being a trust fund kid, coming into a large inheritance, making it big at some endeavor, etc. For talking purposes, let's call them the YR ('young rich').

Since many of us are/were worker bees, we got a certain amount of social interaction from our workplaces.

As many YRs have never been worker bees, what do the YR do for their social interactions to avoid excessive solitude? Especially if they are introverts and/or single?

It might be my imagination, but I'm thinking that in the past, private clubs in big cities filled a niche where the moneyed (of any age) could hang out with others of their ilk. Those venues seem to be either drying up or not necessarily where a YR might choose to spend their time socializing. If so, what do the YRs do in this day and age?

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Old 10-25-2015, 11:22 AM   #2
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I knew a guy who hung out with YR trust fund babies....

They went to private schools.... went to other places where 'we' do not go... there is ample opportunity for them to get to know one another and do what they want to do....


As an example (and remember, this was in the 80s), my guy was golfing with his 'buddies' and they started to talk about an investment.... he asked about it and wanted to invest in it with them.... then found out that minimum was $25,000.... he was not a TR baby and did not have anywhere near that amount of money....
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Old 10-25-2015, 11:27 AM   #3
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Think Charlie Sheen, Lamar Odom, Paris Hilton, Justin Bieber, Miley Cyrus. They all find plenty to do.
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Old 10-25-2015, 11:59 AM   #4
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That is what Milan used to be for.

Now there are a ton of private places (why risk rubbing shoulders with the unwashed?)

Billionaire Vacation Playgrounds : Luxury Travel : Travel Channel

It all sounds pretty nice.....
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Old 10-25-2015, 12:21 PM   #5
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IME when you're rich, young or not, you buy friends whether intentional or not unless you consciously choose otherwise. Once others know you're rich, new "friends" will come out of the woodwork. The challenge is choosing wisely from among the candidate friends.

I've known several cases, I am a reluctant acquaintance with someone of considerable means right now. It's obvious to the rest of us who his real friends are, but seemingly he's oblivious. He is retiring at the end of this year, he may be in for a rude awakening when his social influence wanes and if/when stops spending lavishly.
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Old 10-25-2015, 12:50 PM   #6
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Im my youth I used to hang out with a crew that included a bunch of TFBs (trust fund babies). They seemed just as happy chasing girls and doing outdoor sports as the rest of us. Just typical 20-something dudes - if anything happier/mellower than the rest of us since they could do this 7 days a week without that pesky "work" thing.
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Old 10-25-2015, 02:25 PM   #7
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IME when you're rich, young or not, you buy friends whether intentional or not unless you consciously choose otherwise. Once others know you're rich, new "friends" will come out of the woodwork. The challenge is choosing wisely from among the candidate friends.

I've known several cases, I am a reluctant acquaintance with someone of considerable means right now. It's obvious to the rest of us who his real friends are, but seemingly he's oblivious. He is retiring at the end of this year, he may be in for a rude awakening when his social influence wanes and if/when stops spending lavishly.
So does that put you on the non-friend side
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Old 10-25-2015, 02:39 PM   #8
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So does that put you on the non-friend side
Yes, though we're not friends to begin with, we're acquaintances as I said. Were it not for a single common interest, we'd never even know each other.
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Old 10-25-2015, 02:41 PM   #9
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Jamie Johnson (Johnson and Johnson heir) has made a couple of documentaries on the subject of trust funds kids like him.

One was Born Rich. I found it interesting. It is available on Hulu:
Watch Born Rich Online | Hulu

Two different relatives of mine (not rich - just regular Joes) who do volunteer work at nonprofits have billionaires in their groups, though they not young - they are all retired. So at least some of the super rich are looking for good uses for their time and community involvement just like many of the rest of us.
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Old 10-25-2015, 02:41 PM   #10
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At Friday afternoon happy hours in Atlanta's exclusive Buckhead suburb, the Y/R are out in force trolling for Miss Americas that are also out in force. The ladies are also trolling for Y/R's of the opposite sex. Let me just say they're a very attractive bunch of people.

After all, the Y/R's don't have to settle for ugly spouses. And those that didn't get prenuptial agreements later wish they had more solitude rather than get into the chase.
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Old 10-25-2015, 03:06 PM   #11
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Don't know about your area but here young rich (nephew) stay out late at clubs and sleep late, belong to private clubs (gun, golf and hunt), fox hunting, travel to resorts, go to theater, go snow skiing, go boating, etc. If they don't run with a rich group they treat their friends and family. He worked for his money. Sold his business at 28 and is enjoying himself. He says he's bored sometimes.
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Old 10-26-2015, 09:21 AM   #12
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At Friday afternoon happy hours in Atlanta's exclusive Buckhead suburb, the Y/R are out in force trolling for Miss Americas that are also out in force. The ladies are also trolling for Y/R's of the opposite sex. Let me just say they're a very attractive bunch of people.

After all, the Y/R's don't have to settle for ugly spouses. And those that didn't get prenuptial agreements later wish they had more solitude rather than get into the chase.
+1 Bamaman. Holy smokes, is that ever true. I grew up in GA but left after college, in large part because I was intimidated by that hyper-competitive Buckhead meat market scene, nor did I see for myself a future life revolving around church and the Dawgs. I know there are regular ladies there, too, but I wasn't meeting them. Instead, I went west and married a nice, real Midwestern girl who thinks my accent is "exotic" and that I'm "interesting". I haven't corrected her. Also, the upper midwest culture frowns on debt-supported conspicuous consumption, while Atlanta thrives on it. Hence, I'm heading toward ER about the time many of those former meat marketeers are headed to Buckhead's apparent hundreds of plastic surgeons, which I notice when home are the absolute heaviest advertisers in all the free Buckhead lifestyle mags. To each their own, I reckon.


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Old 10-26-2015, 10:17 AM   #13
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This thread seems a little silly to me. Just another opportunity to criticize wealthy people I guess. Seems like an unusual preoccupation with the wealthy.

Anyway, not sure about billionaires, as I don't know any, but the ordinary wealthy do things that you would expect: nice trips, nice restaurants, nice cars, nice clothes, nice clubs. Most work or volunteer at least when young. Most have at least some "ordinary" friends and display the same spectrum of social behaviour that you see with less wealthy people.
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Old 10-26-2015, 01:03 PM   #14
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As a young millennial I do have a friend I met in college who is a trust fund baby (albeit it's not big enough to never work) and a few other friends who came from very high net worth homes.

Most of them do what everyone else wants to as well. They visit their favorite bars, restaurants, want a new phone, and generally like to have fun with their friends. The only difference I see is the things they want/buy are nicer (Honda civic vs BMW and $500 vs $5,000 bike) and the occasional thing that just costs more, like owning a boat. They tend to use the same dating apps as my other friends, drink various craft beers, watch the same movies, and want greasy pizza at 2am after being out all night.

Will these things change in a decade or so when income levels start to produce a wide differences in living situations? Who knows, but for now they're just nice people who buy stuff that just costs more than the things I'm used to buying. But hey, free boating is a pretty nice perk in exchange for $30 of beer and Doritos
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Old 10-26-2015, 01:38 PM   #15
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I am not a trust fund baby but I did retire at a younger age. Thankfully, I am quite a solitary animal (introvert) and find plenty with which to keep myself busy. But I am not a hermit and I enjoy some daily human interaction. For that, I do what everyone else does to get their fill of social interactions, I spend time with friends and family (mostly on the weekends), or I go out. I live in a very densely populated area so I do not need to go very far to be surrounded by loads of people with whom I can choose to engage, or not (at the park, the library, lunch, etc...). I have no desire to belong to any social club as I find the idea repulsive.
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Old 10-26-2015, 01:48 PM   #16
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This thread seems a little silly to me. Just another opportunity to criticize wealthy people I guess. Seems like an unusual preoccupation with the wealthy.

Anyway, not sure about billionaires, as I don't know any, but the ordinary wealthy do things that you would expect: nice trips, nice restaurants, nice cars, nice clothes, nice clubs. Most work or volunteer at least when young. Most have at least some "ordinary" friends and display the same spectrum of social behaviour that you see with less wealthy people.
Good point, maybe we should also ask "How do the young poor listless welfare collectors avoid solitude, fill their time?"

But then we might be considered picking on the poor
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Old 10-26-2015, 03:36 PM   #17
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I guess the same way all of us 30-something early retirees do. Online forums, facebook, sports, outdoors, groups revolving around hobbies/interests (music, theater, metalworking, crafts, animals/pets, etc), volunteer gigs, social/political activism. For the socialites, there's cocktail parties, art galleries, concerts, the bar scene, political fundraisers.

For those that have a spouse and/or kids, that opens up another set of social options. Today (Monday), for example, the semi-retired wife and I hung out with four different adults, all of whom work full time or close to it. Lots of adults with jobs don't work strict 8 am to 5 pm jobs (shift work, work from home, self employed artists, etc), so hanging out in the middle of a day on a Monday isn't that unusual. We all have kids, and we had a kid-centric day, so that's a part of it.

I imagine among the YR/trust fund set, there are enough friends and acquaintances that aren't clocking in at a 9 to 5 job routinely and are thereby available for socializing/recreation during the work week.
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Old 10-26-2015, 04:05 PM   #18
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You assume everyone views solitude as a negative. There is a slice of society that view it as nothing but positive. Too much? Doesn't happen. It's only degrees of not quite enough to be perfect.


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Old 10-27-2015, 10:29 AM   #19
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By the nature of our new social circle built since retirement, we now have friends that have net worth in the $15 to $25 million range. Aside from driving expensive cars and having nice house and cottages (resort properties), they live like we do. They like to get a good deal when they go to a restaurant with us. They spend more time on succession planning because they have to.

In fact, the major difference seems to be the amount of time they spend maintaining their "stuff". Owning multiple properties requires a minimum amount of attention to each. Adding a 0 to your net worth brings added responsibilities!
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Old 10-27-2015, 10:46 AM   #20
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By the nature of our new social circle built since retirement, we now have friends that have net worth in the $15 to $25 million range. Aside from driving expensive cars and having nice house and cottages (resort properties), they live like we do. They like to get a good deal when they go to a restaurant with us. They spend more time on succession planning because they have to.

In fact, the major difference seems to be the amount of time they spend maintaining their "stuff". Owning multiple properties requires a minimum amount of attention to each. Adding a 0 to your net worth brings added responsibilities!
Good post. Totally agree.
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