I have a friend who's quietly running a highly successful business. His net worth? Approximately $40 million dollars. But you'd never guess it. He drives a 2015 Kia Optima, wears $200 suits at most, rarely eats out, and buys in bulk. He even does most of his home repairs himself. He once told me, "Most people driving Bentleys are up to their eyeballs in debt. Let that sink in. It's not about flaunting wealth; it's about smart living.” Agree?
Where does he get a $200 suit? I go to a very normal suit place and, while it's not much more, you can't find anything for less than $300 #inflation
I think there is a balance. There is a car between a 2015 optima and a Bentley. There is an affordable handyman and there is a $500 suit at macys. I think we need to remember the middle class and stop polarizing living like we are poor and living like kings. Be responsible and live in your means.
While I'm inclined to say good for him, I'm concerned that perhaps he is being overly frugal and it affects his relationships with his family. He needs to be normal - whatever normal is. I say it's not flaunting wealth, but he can afford to upgrade on flights for more comfort, take a vacation every so often, buy his family gifts occasionally, etc. Does he give a lot of tzedakah? Hopefully so.
Tasha Kidd
3w
Totally agree. Some people are happy in their own skin and are relaxed living the way they want to. Other people would rather have the trappings. Sometimes the trappings help them continue to grow. Sometimes they erode into a off balance tilt in their lives. A lot of wealthy people are happy in minimalism. Others like the outward lifestyle. The best thing is to get happy and whole on the inside, and then play the rest of it in a way that meets your value. Wealth brings freedom of choices. How you play your choices is the interesting journey for all of us.
"A single coin in an empty flask makes the most noise." - Bava Metzia 85b. When the barrel is full of coins, it doesn't make noise when you shake it ;)
💯 As someone who works with individuals and gets to see their financial circumstances, I can confirm that most people are living beyond their means.
Bob Britz
4w
Try living in Danville CA or Alamo CA - same issue. Heavily leveraged keeping up an image that can't last in most cases.
True but people should also enjoy. It like people who have rich dads. Suffer their whole life when can’t make ends meet and only get the fortune when at older age about 60ish. If people use it smartly and know when to help their kids out that’s smart. Driving a Bentley usually isnt
Joel Wolh
4w
Does he give a ton of charity? Or is the 40MM just an OCD saving thing and he will just leave it all when he dies.
VP of Business Development at Coevo Energy
4wI think there are people that idolize both ends of the spectrum. Living frugal or being flashy. There is a lot of middle ground that can work for most people, and it doesn’t mean that it’ll make something automatically broke. I feel like it’s mostly confirmation bias that makes people applaud one or the other.