Stealth Wealth

[Gumby]

I honestly can't say I'd be better or worse off if my parents had been better off. Sure, I can armchair quarterback it and say I would have done this, that and the other, but that is with the knowledge I have now, and with the mindset of the person I have become.

If I had started off more upper class, who knows? I might have turned out lazy and spoiled, and squandered whatever resources I had. There's just no way to know how things would have turned out.

In any particular case, we probably can't say. But in general, those who start out in a higher socio-economic class are more likely to end up there, and vice versa. See https://www.brookings.edu/articles/...ealth-mobility-is-low-and-decreases-with-age/ and https://www.chicagofed.org/research/mobility/intergenerational-economic-mobility and https://www.economist.com/graphic-d...Qzp9cx57k6Evk3GJLWwaAqe2EALw_wcB&gclsrc=aw.ds

 

[wmc1000]

It is not stealth wealth to us.

It is about keeping our financial situation to ourselves and living the way we want to. I see absolutely no value in trying to impress others with your financial position.

So for us it is not stealth or anything to do with stealth. It is business as usual.

+1000!

 

[Koolau]

Speaking of stealth wealth, while I try to grow our portfolio, my wife is growing our stash of food.

Stealth Bacon! Porky would be proud of her.

 

[NW-Bound]

My usual business is trying to grow the portfolio. I was lucky enough to have it grow by $1M in a past 12-month period. Have not been able to duplicate it, but any gain helps.

And I want to be stealthy about it. No need to attract attention.

My wife also does not brag about her food stash to my relatives. She tries to be stealthy, but I suspect they all know.

 

[street]

My usual business is trying to grow the portfolio. I was lucky enough to have it grow by $1M in a past 12-month period. Have not been able to duplicate it, but any gain helps.

And I want to be stealthy about it. No need to attract attention.

My wife also does not brag about her food stash to my relatives. She tries to be stealthy, but I suspect they all know.

That is pretty stealthy 1millon in gains in the last 12 months. Lol

Excellent work!!

 

[SunnyOne]

Timely thread for me...as I'm having conflicted thoughts and feelings about how my siblings are settling my mom's estate....none of them are wealthy but all have good jobs for this area, two are problem gamblers in fact.
The amounts they are bitterly arguing over are about the same amounts I earn in dividends & interest in one month. Of all the siblings, I have elected to receive the smallest share and will likely donate it..... I am not a hero or riding the moral high horse....it's just that being involved in this debate is a huge eye opener for me.

 

[ychuck46]

For myself, I'm happy with what I have achieved, but I'd bet that I could have risen higher and been richer if my mother and father had not been raised in impoverished single parent homes, had gone beyond the 8th grade and 11th grade in school, respectively, and had not given birth to me as teenagers and quickly had three more children that they struggled to support. And perhaps my siblings and their children might have gone to college and reaped the benefits that flow from that. Sadly, they have not, and it doesn't look all that promising for the next generation either. I am really an outlier in my extended family over many generations.

I have thought about this for my own situation as well. The flip side to your contention, though, is that how much harder did you try to escape the constraints of your background because you were raised with those constraints at a young age? Perhaps both of us went farther than we would have otherwise because we weren't born with the proverbial silver spoon in our mouths, and wanted more for ourselves and our families. As for your siblings it sounds like they made their own bed and could have done better, but for whatever reason(s) chose a different path than yours.

 

[Gumby]

I have thought about this for my own situation as well. The flip side to your contention, though, is that how much harder did you try to escape the constraints of your background because you were raised with those constraints at a young age? Perhaps both of us went farther than we would have otherwise because we weren't born with the proverbial silver spoon in our mouths, and wanted more for ourselves and our families. As for your siblings it sounds like they made their own bed and could have done better, but for whatever reason(s) chose a different path than yours.

Post #401 above addresses this. In any event, we are getting pretty far afield from the thread topic.

 

[LateToFIRE]

Timely thread for me...as I'm having conflicted thoughts and feelings about how my siblings are settling my mom's estate....none of them are wealthy but all have good jobs for this area, two are problem gamblers in fact.
The amounts they are bitterly arguing over are about the same amounts I earn in dividends & interest in one month. Of all the siblings, I have elected to receive the smallest share and will likely donate it..... I am not a hero or riding the moral high horse....it's just that being involved in this debate is a huge eye opener for me.

Having been involved in settling estates in the past, I can totally sympathize. As a friend once said to me (after hearing my griping on the topic), "people will gut each other over surprisingly small amounts of money." Sometimes this conflict is about financial need, but mostly, what is going on in these family squabbles is a manifestation of leftover emotional garbage. The division of assets represents whatever love and affection was lacking in the parent-child relationship - sounds like pop psychology but I've seen it and experienced it more than a couple of times.

I'd offer you this one caution - don't expect anyone to be grateful if you decide to forfeit/reduce your share. In fact, your relatives might just resent it as a flex (i.e. you showing off your wealth by turning your nose up to the nickels they are squabbling over and making them look like petty paupers). So, this is a classic damned if you do, damned if you don't situation. I suggest you take your fair share - set it aside for the next generation and/or when your siblings invariably come looking to you for a bailout.

 

[Markola]

Timely thread for me...as I'm having conflicted thoughts and feelings about how my siblings are settling my mom's estate....none of them are wealthy but all have good jobs for this area, two are problem gamblers in fact.
The amounts they are bitterly arguing over are about the same amounts I earn in dividends & interest in one month. Of all the siblings, I have elected to receive the smallest share and will likely donate it..... I am not a hero or riding the moral high horse....it's just that being involved in this debate is a huge eye opener for me.

Far beyond the money, settling an estate can be such a tangle of old emotions, patterns and rivalries. Future you will likely be glad you focused on harmony among your relationships and stayed out of the fray as much as possible.

There was a huge case in our state recently in which one sibling got something like $100M but was unhappy and took her brother to court, because he got $140M after running the family company successfully for years while she did nothing. The family members tore each other apart publicly in the local newspaper and the big winners were the lawyers.

 

[LateToFIRE]

Looping back to the original topic... pulled into parking lot of one of our fav restaurants last night, and noted a spanking brand new Porsche 911 Targa 4S parked out front. Also noted later that a silver-haired gentleman and his lady companion jumped in and drove off in it, but not before lowering the top for some al fresco touring.

This is one of my favorite cars - the sort of thing I've been fascinated with since I was a teenager. Have always loved the Targa top! I have a buddy with one of these, so know they typically go for $200K plus. As I dreamily watched the object of my envy pull away, I thought aloud to DW "wow, how flush does one need to be to feel comfortable blowing that much dough on such a thing." Bringing me back to reality, she said "well, you could if it would make that much of a difference to you." Hmmm, somehow I just don't think I'm ready for that level of non-stealth.

 

[NW-Bound]

That is pretty stealthy 1millon in gains in the last 12 months. Lol

Excellent work!!

No, not the last 12 months. It was over one 12-month period in the past.

And I have not been able to repeat it.

 

[TheWizard]

Looping back to the original topic... pulled into parking lot of one of our fav restaurants last night, and noted a spanking brand new Porsche 911 Targa 4S parked out front. Also noted later that a silver-haired gentleman and his lady companion jumped in and drove off in it, but not before lowering the top for some al fresco touring.

This is one of my favorite cars - the sort of thing I've been fascinated with since I was a teenager. Have always loved the Targa top! I have a buddy with one of these, so know they typically go for $200K plus. As I dreamily watched the object of my envy pull away, I thought aloud to DW "wow, how flush does one need to be to feel comfortable blowing that much dough on such a thing." Bringing me back to reality, she said "well, you could if it would make that much of a difference to you." Hmmm, somehow I just don't think I'm ready for that level of non-stealth.

I have an 08 Mustang convertible and just ordered a new '24 replacement. A lot less $$$ than a Porsche, but my point is that it will be parked outside once it comes in and a neighbor might stop by to chat about it. Not likely, but possible.

So, stealth?
You can go to Ford.com and price out a similar car to get an approximate MSRP. But did I lease it or buy it? And what are my monthly payments? Or did I pay cash?
Those deets are nobody else's business...

 

[Andre1969]

No, not the last 12 months. It was over one 12-month period in the past.

And I have not been able to repeat it.

I started keeping track of 12 month gains back in 2008. My personal best was 3/31/20 to 3/31/2021: roughly $780K. In my case, and probably for most people, the biggest gains come in the aftermath of serious economic turmoil. As I recall, the market bottomed out, thanks to Covid, around 3/23/2020.

 

[street]

No, not the last 12 months. It was over one 12-month period in the past.

And I have not been able to repeat it.

That is really good! Just had to razz you a little. Lol

 

[NW-Bound]

I started keeping track of 12 month gains back in 2008. My personal best was 3/31/20 to 3/31/2021: roughly $780K. In my case, and probably for most people, the biggest gains come in the aftermath of serious economic turmoil. As I recall, the market bottomed out, thanks to Covid, around 3/23/2020.

You made me look. It's easy with Quicken. Just go to Investing -> Portfolio -> Reports -> Investment Performance, then enter in the desired period.

Whoa. For the above period, much more than $1M for me. And I was never 100% invested.

For the subsequent 12-month period, less than 1/2 the above.

Then for the next 12-month period, negative return. Oh well, can't win all the time. Not even Buffett can do that.

PS. I need to be stealthy, so cannot post the exact numbers.

 

[Letj]

My usual business is trying to grow the portfolio. I was lucky enough to have it grow by $1M in a past 12-month period. Have not been able to duplicate it, but any gain helps.

And I want to be stealthy about it. No need to attract attention.

My wife also does not brag about her food stash to my relatives. She tries to be stealthy, but I suspect they all know.

Congratulations. How does one do that!?

 

[NW-Bound]

^^^ The common method: buy low/sell high. But I do it via selling covered calls and puts.

And I stay away, far away from meme stocks and speculative stocks with high P/E ratio.

 

[LateToFIRE]

I have an 08 Mustang convertible and just ordered a new '24 replacement. A lot less $$$ than a Porsche, but my point is that it will be parked outside once it comes in and a neighbor might stop by to chat about it. Not likely, but possible.

So, stealth?
You can go to Ford.com and price out a similar car to get an approximate MSRP. But did I lease it or buy it? And what are my monthly payments? Or did I pay cash?
Those deets are nobody else's business...

FWIW, I have also been salivating over Mustang's as well, from before I even knew what a Porsche looked like!!! I'm envious but not a hater - I love to to ogle and chat with people about their cars. Where I was going with my comments was just that not sure I'm ready to blow that much dough and/or attract that much attention. I think once I've settled into retirement and the dust settles around budget, portfolio, asset sales, home upgrades, etc., then I'll be in a much better frame of mind to BTD.

 

[CincyDave]

^^^ I let my wife buy only 2 packs of 1 lb each. We still have 4 lbs in the freezer!

My wife eats very little. However, her eyes are bigger than her stomach. And she likes to go shopping when she spots a deal.

Two fridges, one 24 cu.ft, the other 32 cu.ft., chocked full of food, and she still wants to buy more.

Your wife sounds a lot like me when it comes to food deals. I probably have 12 pounds of bacon along with pork butts, briskets, ground beef, chicken breasts, yadda yadda yadda. I seriously need to stop and eat what we have.

Getting back to the topic at hand, we neither flaunt or try to hide what we have. Based on our trips, cars, etc. I'm sure our friends family and kids know we are not poor, but would probably be shocked if they knew the actual amount. I know I am.

 

[ychuck46]

FWIW, I have also been salivating over Mustang's as well, from before I even knew what a Porsche looked like!!!

Did you see the new, special edition Mustang GTD that Ford announced this week? $300K. If we were younger I told my wife we would get it and store it for the inevitable rise in value, when nostalgia seekers are looking for classic ICE vehicles when they aren't available. But we have the classic dilemma. In our younger days we didn't have the money to do such a thing, while in our older we don't have the time to wait out the likely increase in value.

https://www.caranddriver.com/news/a44840269/2025-ford-mustang-gtd-revealed/

 

[11522914]

The same was true for me but now that I’ve made it and can afford almost anything my heart desires within reason, the desire to acquire material things have dissipated.

I've never been one to acquire lots of material things, particularly expensive ones.

My goal was a roof over my head, clothes on my back, access to healthy food, live in a relatively safe area and access to decent healthcare. Everything else was gravy.

And it's truly amazing to me that opportunities exist - if you play it smart and take advantage of them - to acquire all those things relatively cheaply.

Cheaply doesn't mean the lowest price. It means the lowest cost over the time you own it. And higher quality tends to last longer, sometimes much longer.

 

[11522914]

I do think that most people "find their level", meaning that we get what we are willing/able to put the effort in to get, whether we realize it or not.

+1000. So true.

I worked very hard to get to a particular position in my company. Most of the time I worked 37 1/2 hours per week. I enjoyed what I did.

I was considering a management position that would have been a substantial raise. And for more money I would get to work more hours, have lengthy meetings called at the last minute, much more stress and have to do some travel.

Sure it would be a new challenge but at what cost. I was raising 2 small children and would hardly get to see them, much less have the energy.

So I decided to stay in my position. Glad where I worked that was acceptable - up until the last year.

So yes, I reached a certain level and desired no more. And with the benefit of hindsight, I wouldn't change a thing.

 

[NW-Bound]

My goal was a roof over my head, clothes on my back, access to healthy food, lived in a relatively safe area and access to decent healthcare. Everything else was gravy...

Same here.

Now that I have the basic things secured, I spend more time looking for various types of gravy that suit my fancy. It's all gravy. Travel, DIY solar project, etc...

What works for other people may not work for me, so can't just do like they do.

 

[SunnyOne]

Only a very few know my financial situation - no one else would believe it. Some suspect and have made comments, but no one would guess the size of the truth. For some years now, I have carved out and achieved a life situation that is completely different from the one I was destined to lead. The correlation with happiness is loose however (as we know, beyond a certain point....) I had to laugh at something David Lee Roth once said "money may not buy me happiness, but it can buy me a yacht which I can park right next to happiness"