What I appreciate the most about investing is the option to be inconspicuous about it. ? If someone buys a detached house in an affluent neighborhood like Lawrence Park for $5 million, then people will know he’s rich. There is no way to hide his wealth from his close friends or his employer. If he drives to work in a comfortable Aston Martin One-77 then his coworkers will find out about his affluence. But when it comes to his financial holdings, nobody has to find out what, or how much he has. 🙂 This usage of stealth wealth is how most millionaires are able to blend into society.
Keeping our wealth a secret allows us to enjoy work, travel, play, and financial security without attracting unwanted attention to ourselves. We can’t hide our success if we’re famous, but we can hide our financial position if we’re rich. 😉 Driving an older model vehicle is an excellent way to disguise wealth. It allows us to spend like poor people while we continue to grow our income and wealth like rich people without any distractions.
Live it. Don’t flaunt it.
Not everyone will be stealthy with their money. Many millennials these days would rather show off their swag than hide it from the world. Here’s something you will frequently see if you live in Vancouver. The “N” sticker suggests it’s a new driver.
There is nothing wrong with spending money on desirable goods and services. I have always been an advocate of spending money, even if it means going into debt, as long as it brings a net benefit to someone’s life. But we just have to make sure we’re buying things for the right reasons. 🙂 One question we should ask ourselves before making a big purchase or posting our financial situation on social media is “Do I really want the extra attention that this will get me?” If the answer is no, then it’s probably better to keep quiet about our personal finances and use our money to buy discreet assets like dividend paying stocks rather than a mansion that costs more money to maintain.
Some people prefer fame, while others prefer fortune. The difference is that wealth is personal and we have 100% control over what happens to our fortune. But being famous puts the power into the hands of the media, and everyone else. Celebrities are popular because their fans made them famous. Fame requires continuous effort, or else it fades. But when wealth is set up properly it will generate passive income and profits for generations. 😀
Random Useless Fact:
If doctors went on strike nobody would know what they are protesting about.