Wealthy people don’t…

[seafarm]

Hmmm stress….health is WAY more important than wealth.

I think everyone likes to save money no matter what their financial status.

I’m sure some wealthy people donate to charity, volunteer in their community, help friends and family and like to share their hard earned wealth.

I’m also sure some don’t.

 

[missy]

Curious, what (net worth) would be considered wealthy?….in a first world country.

Some may think $5m or $10m, some may think $100m or $1b.

Wealthy/rich is a subjective term IMO. It is all relative.
Depends where you live and it isn't about what one earns IMO but what one takes away.

Add up the value of your assets.
Subtract your liabilities.

And the question now is, how high does one's net worth have to be to be considered wealthy?
And that answer is subjective.


"The answer for Americans is you need to have a net worth of at least 10 million to be in the top 1% and considered rich."

Strategies to Achieve Elite Wealth Status - Making it on Top 1% Net Worth

Ready to join the ranks of the wealthy 1%? Learn how with practical tips and expert advice on building wealth. Start your journey to financial success now!

www.thekickassentrepreneur.com

Of course, as PSers, we know all too well that the definition of being rich has nothing to do with money. Being rich is being surrounded by people and animals you love and who love you and it is something all the money in the world cannot buy. Having meaningful relationships. And being truly wealthy is being able to enjoy all you do have. It's about inner happiness more than any external finances.

 

[missy]

health is WAY more important than wealth

I 100% agree.

 

[kenny]

Wealthy people don't not vary.

 

[missy]

Wealthy people don't not vary.

Ain't that the truth.

 

[dk168]

I 100% agree.

+1

DK

 

[dk168]

I was going to post wealthy people don't do housework or other chores as they have hired helps etc ...

However, I am by no means "wealthy", however, I have hired helps to do the cleaning on a regular basis, plus ironing and gardening on an ad hoc basis, as in activities that I do not enjoy.

DK

 

[icy_jade]

… look at price tags before buying stuff?

 

[AprilBaby]

Wealthy people don’t think they are wealthy. Someone always has more.

 

[ringbling17]

Wealthy people don’t worry about paying for their children’s college tuition. They can do it without worrying about how they will pay for it, applying for scholarships or loans, or saving for years.

 

[chemgirl]

Wealthy people never have a 'how much per month' mentality---they don't do payments. Things are purchased for cash, not financed.

It’s funny that many of the people in my life who I would consider “rich” actually lease their daily drivers. They want a new car every few years so they never buy and just give it back. They do buy their fun cars.

 

[musicloveranthony]

Don't keep receipts

Don't look at gas prices

Don't budget - they just have the bills on auto-pay

 

[Lookinagain]

don't return things to the grocery store because it was on sale somewhere else.

 

[musicloveranthony]

don't return things to the grocery store because it was on sale somewhere else.

Don't return things at all. Donate them, or toss them

 

[nala]

Don’t sell their used clothes online—unless you are a Kardashian and maybe you are not as rich as you claim to be!

 

[smitcompton]

Hi,

Rich people dont have anxiety about money and what it buys. Studies show people with money are happier. Marriages end due to lack of money and fighting over it.

I know a number of wealthy people. They stay the same people they were before they had money. They enjoy their money. No one inherited it. They are not ashamed of it. One gave millions to a college, with pictures in the papers and all.
They have fun!

Annette

 

[GreenPapaya]

Rich people don’t cook or only cook as a hobby . One of my coworkers had never cooked in his life. He’s married now and his wife has never cooked either. They’ve always had chefs or ordered out. They own apartments in Manhattan and a huge house in the Hamptons. One of my other coworker owns an entire floor in a large building on the upper East side and she cooks because she enjoys it.

Rich people seem to work because they want to and not because they have to.

Rich people don’t even have second thoughts about paying for their kids private school, private universities, graduate programs and travels.

And if you own property in NYC (any borough), you’re rich!!

 

[jaysonsmom]

Rich people are often very frugal, and don’t spend money frivolously.

I've probably told this story to a number of my colleagues, not sure if I shared on PS. I flew back from a business trip on the same flight as my CEO (a billionaire). We actually ran into each other in HK, during a layover. When we arrived at LAX, I was surprised to see him again, at the long term parking shuttle pick up.

I figured since he was in first class, he was able to get get off the plane before me and had a Limo driver waiting to him to take him home.....but NO....we waited for the shuttle (to an off-site long term parking) together, and when we got to the parking garage, he asked if I had $ to tip the shuttle driver, because he only had $100 bills. I gave the shuttle driver a $5 for our 2 pieces of luggage, and my CEO thanked me, and said: Be sure you put the $5 in your expense report!

 

[LLJsmom]

Rich people are often very frugal, and don’t spend money frivolously.

I've probably told this story to a number of my colleagues, not sure if I shared on PS. I flew back from a business trip on the same flight as my CEO (a billionaire). We actually ran into each other in HK, during a layover. When we arrived at LAX, I was surprised to see him again, at the long term parking shuttle pick up.

I figured since he was in first class, he was able to get get off the plane before me and had a Limo driver waiting to him to take him home.....but NO....we waited for the shuttle (to an off-site long term parking) together, and when we got to the parking garage, he asked if I had $ to tip the shuttle driver, because he only had $100 bills. I gave the shuttle driver a $5 for our 2 pieces of luggage, and my CEO thanked me, and said: Be sure you put the $5 in your expense report!

Thank you @jaysonsmom. This is funny and telling.

 

[Cinders]

IME wealthy people rarely ever claim to be wealthy. Typically describe themselves as "comfortable."

 

[MrsBlue]

Curious, what (net worth) would be considered wealthy?….in a first world country.

Some may think $5m or $10m, some may think $100m or $1b.

In another forum many years ago I once read a post from a kid who considered themselves wealthy because the kmart in their town shut down for them to shop privately.

 

[MrsBlue]

Rich people are often very frugal, and don’t spend money frivolously.

I've probably told this story to a number of my colleagues, not sure if I shared on PS. I flew back from a business trip on the same flight as my CEO (a billionaire). We actually ran into each other in HK, during a layover. When we arrived at LAX, I was surprised to see him again, at the long term parking shuttle pick up.

I figured since he was in first class, he was able to get get off the plane before me and had a Limo driver waiting to him to take him home.....but NO....we waited for the shuttle (to an off-site long term parking) together, and when we got to the parking garage, he asked if I had $ to tip the shuttle driver, because he only had $100 bills. I gave the shuttle driver a $5 for our 2 pieces of luggage, and my CEO thanked me, and said: Be sure you put the $5 in your expense report!

Sounds familiar lol

ex MrBlue and I always politely refused offers to hang out and get drinks for fear we'd be stuck with the bill.

 

[Austina]

Really wealthy people never talk about money.

 

[Brigid]

Don’t blink when buying a Himalayan or exotic skin Birkin or Kelly!
I would rather invest funds into sustainable housing for people that are are experiencing homelessness.

 

[jaysonsmom]

Rich people are often very frugal, and don’t spend money frivolously.

I think I made an impression on him because technically my business travel costs are covered and “I” could have gotten a driver to drop me off and pick me up. So i was being a good employee that didn’t abuse company travel policies.

What he doesn’t know that he made a lifetime lasting impression on me….the CEO and I, chatting about why we picked this long term parking… because it was 1) inexpensive 2) very close to airport 3) frequent shuttles. I know we both told colleagues about this experience, because the following week, a VP came up to me and said “I’ve been told by the CEO to ask best way to travel to and from LAX. He said that I could learn a lesson or two from you….”

I also travel economy plus even though for flights over 6 hours we can are technically allowed to travel business class. My flights are usually booked last minute and already expensive due to short notice, so I feel bad asking for business class upgrade….if economy is good enough for the majority of travelers, it is good enough for me!

 

[Jsand]

Don’t blink when buying a Himalayan or exotic skin Birkin or Kelly!
I would rather invest funds into sustainable housing for people that are are experiencing homelessness.

Wealthy people don’t have to choose between charitable giving and treating themselves ?!

 

[Daisys and Diamonds]

have to put stuff back at the checkout
- i do online groceries so no one sees me put stuff back

 

[nala]

Don’t mind paying a convenience fee—atm, uber eats, etc. bc they calculate that their time is money and paying the fee is always less money than their hourly rate.

 

[Daisys and Diamonds]

Rich people don’t cook or only cook as a hobby . One of my coworkers had never cooked in his life. He’s married now and his wife has never cooked either. They’ve always had chefs or ordered out. They own apartments in Manhattan and a huge house in the Hamptons. One of my other coworker owns an entire floor in a large building on the upper East side and she cooks because she enjoys it.

Rich people seem to work because they want to and not because they have to.

Rich people don’t even have second thoughts about paying for their kids private school, private universities, graduate programs and travels.

And if you own property in NYC (any borough), you’re rich!!

i just cant fatham this

back in the day my dad had two brothers as his boss's at a ling established old family firm
very old money
lived in the old money part of town
one brother to look at you would not think he had two pennies to rub together
old ramshackled house, old old car, old falling apart shoes etc but a nice person
the other brother was very nice too but more conventional

you just cant tell

 

[SomethingNew]

Wealthy people don’t worry about paying for their children’s college tuition. They can do it without worrying about how they will pay for it, applying for scholarships or loans, or saving for years.

I used to think that if you can afford, don't get student loan because interest rates are very high, even after consolidation. But there are many forgiveness programs that are worthwhile and only require a few years to stay in such programs, especially in medicine. Med schools are expensive and you came out with a lot of debt, but there are many federal and state programs that help cover a big portion of the student loans.