They are thrifty. ''There is still a wonderfully frugal group of people in America that we don't talk about, but they're out there,'' Stanley said. ''The majority of them don't have a wine collection. They do serve wine to guests, but the median value of a bottle was about $13, not expensive stuff.
''It's not an impressive lifestyle; it's just that they're not confused. The reason they don't have a second home isn't because they can't afford it. It's just a hassle.''
Stanley's most recent research for his coming book is about brands that wealthy people use. ''There are a lot of millionaires buying stuff at Wal-Mart. They don't have a problem with buying, maybe, socks or underwear there or at a Costco or Sam's Club. Men's Warehouse is selling them a lot of suits, I can tell you that,'' he said.
''People think, 'If I wear a $900 suit, I'm going to look wealthy.' The problem is, if you wear a $900 suit and put the glitz on, you're not going to look wealthy, because wealthy people don't do that.
''What I'm trying to tell people, especially young, impressionable people, is this ain't the way the world works. If you're looking at being happier by having more things, get a life.''
They are not deprived and miserable. ''On a scale of happiness, they're quite happy,'' Stanley said. ''In fact, the more wealth you have, the higher your satisfaction.'' But their happiness comes not from material things but from achievement and being financially independent. It comes from satisfaction with their family and job.
''There is absolutely no correlation between happiness and the brand of car you drive. It has nothing to do with it. What happens is before you buy the Porsche, you'll think it will make you happy, but it doesn't work that way. The guys wearing a Seiko watch or a Rolex or a Timex have no difference'' in happiness.
Rich_in_Tampa said:Interesting how he doesn't just shake his head at the high-spending would-be's in sadness, but actually seems to have a bit of a bone to pick with them.
Delawaredave said:Unfortunately the country seems obsessed with "looking wealthy".
Delawaredave said:Awesome article - thanks for posting.
"You can look wealthy or you can be wealthy. For most people, the choices are mutually exclusive"
Unfortunately the country seems obsessed with "looking wealthy".
audreyh1 said:BTW - a year or so ago we discovered McManis Vineyards wines (Whole Foods carries them among others). By now we've tried several varietals. Most of them are $11 a bottle, and the "best stuff" (the Petit Syrah) is all of $13. You really don't have to spend more that $13 a bottle to enjoy great wine.
Audrey
Goonie said:I've had street people offer me change for a cup of coffee!!! So much for looking wealthy, huh?!
FinanceDude said:I was in Home Depot wearing some old grey sweats and a faded Wisconsin shirt, along with my Sam's Club jacket and an old baseball cap. I was looking at some DeWalt tools, and was ignored the whole time. I bought a light switch cover and left.
brewer12345 said:Doesn't matter what you wear; you'll still be ignored by the "help" at Home Despot.
I believe in dressing the part. If I need help, I dress up a little. Sometimes I purposely dress down to be left alone.brewer12345 said:Doesn't matter what you wear; you'll still be ignored by the "help" at Home Despot.
Considering the quality of the "help", I usually dress down at Home Depot to be left alone. But it is fun to talk with some of the older clerks who can actually pronounce the technical vocabulary.MasterBlaster said:Isn't it amazing that people will determine their own self worth based on how they are treated by some one making $9/hour at Home Depot.
tednvon said:Son of a gun, mine is a 96 Toyota Avalon with 133K miles
Nords said:My ponytail makes me invisible on military bases now.
Dude, isn't it about time for you to start planning for your last haircut?Ron'Da said:"Don't ask - don't tell "
Nords said:Dude, isn't it about time for you to start planning for your last haircut?
Considering the quality of the "help", I usually dress down at Home Depot to be left alone. But it is fun to talk with some of the older clerks who can actually pronounce the technical vocabulary.