The Hidden Brilliance of Stealth Wealth - How Money Works
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- Опубликовано: 7 ноя 2021
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Why would you want to be rich? Is it because you want to be able to relax all day instead of doing a sh**y job? Is it because you want to be able to look after your friends and family? Is it because you want to do things that just aren’t possible without a lot of cash?
Or maybe, is it because you want to show off a bit… Make your parents proud, be the one who gets the most attention at your high school reunion, or just flex on the gram to prove all your haters wrong.
Don’t be ashamed of it, there is a trillion dollar industry built on enabling this kind of behavior, so you are certainly not alone, but there is a better way.
#StealthWealth #FinancialIndependance #HowMoneyWorks
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Stealth wealth is exactly what I want. I don't care about having a mansion, or a super car, or a yacht, or designer clothes, or anything like that. I already have most of what I want, I just want a nice, paid off house and the ability to travel when and where I want.
Amen Bro. I Wanted this BEFORE there was a term for it!
You have the correct mind set my brother. I have stealth wealth and like you I don't care about a mansion or a Lambo. Why would I buy things that are going to make me a slave to my job for 30 years to pay off, f**k that. Instead I avoided debt like the plague and invested almost every dime I ever made. As a result I was able to semi-retire at 48. I have my freedom which is more important to me than anything
@@dhpitcher XD WTF is Semi-Retire Hahaha. I hear ya, freedom is super important. But even if I have the money I will still probably work into my late 60s if possible.
Shit starts to stack up fast later. Much respect man, Keep on living your best life.
That's just an upper middle class lifestyle. Lol.
I want all the good stuff that you mentioned but somewhere private. Outside that I'd just live modestly in a small flat LOL.
I did an internship with a financial planning firm a few years. One of the most successful reps said something that has always stuck with me “people who say money can’t buy happiness are usually the people with no money”
Money is a tool, it can get you more tools and buy a lot of pleasure that a lot of people confuse as happiness, but money can make you way to happiness easier. Not buy it, but make it much easier to get
Ask someone who can't afford food how happy they are! lol
Money can buy happiness. That doesn't mean it _will_ buy happiness.
Or as the proverb say "Money can't buy happiness but poverty can't buy anything!".
@@leonidas14775 you are confused my buddy, check maslow's hierarchy of needs, you mentioned Physiological Needs and those can easily be solved with money, but for the rest of the levels good luck buying your way out.
Money is very important don't get me wrong, but it can't buy you all. Be cautious with that
I am rich and am unhappy. Money does not buy happiness. It makes some things easier, but happiness is not an easy thing to achieve.
I'm already half way to this goal by being outwardly poor. Now I just need to work on the not actually being poor part.
This comment hurt me on the spiritual level
An half full glass is better than a half empty glass
@@BearMeOut Why? The commenter is not wallowing is sorrow, but has a sense of humor of his current state. He's put his mindset on becoming financially literate, as seen by consuming those types of videos. Therefore, on a spiritual level you could see his comment in a different, positive light. Good for him.
This explanation heal me on the spiritual level
@@alex-p And a half-empty glass is better than an empty glass.
Hahaha RIP 'The Infographics Show', the masters of stretching any topic into a 20+ minute video
Someone clearly has never heard of 'half as interesting' ...
@@A_Casual_NPC LMFAO. I was just about to type this
I used to love it but since the narrator changes and yes... the dragging makes me looks elsewhere
I bet a nice watch can make us happy...
until we find another great watch
They also get so much wrong.
One of the best ways to spend money in my opinion is to spend the money on health. This could be things like your own personal doctor, building a sauna and home gym, healthy but expensive food, a treadmill standing desk, a personal trainer or any sort of health gadget.
Completely agree
Health is wealth
@@DyslexicMitochondria your username made me click on your profile. Your channel is a hidden gem bro
so much liabilities yuck. u can work out for free, u dont need a sauna or home gym. The treadmill standing desk is a waste. personal trainer waste. only thing i agree with is the food and standing desk without treadmill
@@DyslexicMitochondria _the mitochondria is the chowderhouse of the cell_
Most people who bootstrap into wealth usually start off by being very frugal. The transition into "stealth wealth" is pretty natural. By the time they are finally rich, they are usually habitually frugal and enjoy accruing wealth because it is a satisfying game.
There's a large element of truth in that.
👍👍👍
Frugality can be hard to let go of though. I came back to this video after watching one by Ramit Sethi titled “We achieved FIRE with $4.3M. Why can’t we enjoy it?”
It’s just what it sounds like: Sethi interviews a couple who’ve been very frugal and built up a great nest egg. They got there by focusing on cost-saving behaviors and taking comfort in seeing the number go up, but now they’re having trouble letting go of that.
@@Magic_beans_I think the alternative is working super hard either starting a business or working in a very high paying position for a long time and each require luck. Or you can get your money the old fashioned way. By inheriting it.
I'm okay with forgetting to enjoy flashy stuff if it means not working 80 hour weeks.
First, killer video, as always. Second, the richest couple I know drive modest cars and are very stealthy. It took me many years to realize they were rich. They lived in a nice but modest 3 bed 2 bath house until they were in their 60s (then they finally bought a really amazing but not too public home). I'm also happy to say that they are literally the most generous people I know, too. Still, they quietly enjoy it all. There's no place on earth they haven't taken a nice vacation. I'm guessing they are even wealthier than I estimate. They play it very low-key and they are not on any social media.
Yep. Best presentation from HMW so far. In my life I have met about 4 people that I ultimately found out later that were extremely wealthy (8-9 figures wealthy). Each of them shared a common trait: They are all low-profile. Example; About 20 years ago, I met a landlord to look at an office space. This older guy showed up in a 15 year old beat-up Jaguar, with bird shit over the back window. Dressed like a slob. Unruly long hair. After getting to know him (after I was a tenant), I come to find out he owned about $400M in commercial and residential property all over Southern California. His wedding present to his daughter and her new husband when she got married was a - at the time - $3M house overlooking Mulholland Drive - a home that wasn't visible from the street.
Yeah, Rich people are generous, they can afford to be, after they have literally stolen all of the productivity of actual workers. Its not generous to steal and dodge taxes so you can start a foundation in your name that constitutes a tiny fraction of what you owe to society. These people are scum.
Truly wealthy people almost never talk about gold or platinum. I see a lot of silver bugs and they're all pretty poor. Me? I literally don't even talk about precious metals that much with my best friend. Maybe once every couple years, I may say something nebulous like, "if you can't afford a house, store wealth in precious metals", but I don't use the word "gold" or "platinum", because I don't want to get in a gun battle over some shiny blocks. It's simply too portable and tempting.
A person can very easily transport 7 figures worth of precious metals out of your home if they know it's there, or worse, if they know where and when to look. Very dangerous telling people IRL, even more so if you're not armed and trained.
It's interesting. Some of the poorest people who have the most visible goodies - latest iPhone, big screen TVs, video games, etc. The richer people are the ones who don't blow money like that but save up and invest. People who call the rich scum are really bad people and don't understand how the world works.
@frank captivate key word “some.” It’s usually rich people or the upper middle class that consumes most of those goods. And I don’t know who lied to you but there are plenty of rich people who blow a fuck ton of money on bullshit. Do you know the amount of people earning over 7 figure who are living paycheck to paycheck? Saving is a myth my friend. And btw rich people are literally the thorn in the side of this country at the moment. Who do you think is lobbying politicians to fuck over their constituents? Why are so many obvious problems not being solved? From inflated home prices to stagnant wages, it’s all because some rich mofos are either breaking apart unions and intimidating employees or blocking new zoning laws to build more houses, etc., and that’s just a light little taste. I’m so sorry but this country is slowly becoming an oligarchy serving a group of elites and fucking over everyone else. It’s funny because I’m a capitalist through and through. I made a fuck ton of money this year and truly believe in people owning what they do and bootstrapping their way to success, but what we’re seeing now is gonna be the death of the American dream in the future. Good luck buying a house kids, good luck getting out of debt, good luck saving while spending over half of your income to rent a studio. Obviously I’m being a bit melodramatic, but this is everyday life for most millennials and gen-zs’. I’m actually starting to think that perhaps you don’t know how the world works.
“People say money can’t buy you happiness, that’s Bull shit. Money can buy you whatever you want.” Can we all just appreciate how well the homie delivered this line? I felt an absolute sense of triumph.
and also the: Most people decide to use it to buy misery. *chef's kiss*
Money can't buy good genetics. Yet.
I 100% agree with your video.
Just one thing added: Do not underestimate the "Passion Project": Nothing is more life draining than having everything while not doing anything that is meaningful for you.
Best public example might be the inventor of Minecraft, who sits on a billion USD comfortably but seems to have no drive in his life whatsoever since he sold his game.
That's so true!
It's honestly sad to see how "lifeless" he's become! Sometimes, less is more.
Allways remember: Money isn't everything in life.
Not having money is.
Not at all. The best life I have ever enjoyed was being homeless and working 5 jobs. I cant say when I was happier.
Bs
That’s a Kanye quote
Yeah, being poor sucks.
@@n8opot8o1981 🤔
“Money talks, wealth whispers” - Unknown
Probably Sun Tzu
I’m not even close to being rich, but you’re absolutely right. If you have even a little bit of money in the bank it’s best to keep it to yourself. Even if all you have is a couple thousand dollars in the bank as an emergency fund all your broke coworkers who piss away their paychecks will come begging for your money if they know about it.
What? I'm not that close to my coworkers for them to feel comfortable with that. Sometimes we'll cover lunch for each other 😅
My ex: can I borrow £1000
Me: No (place phone down and turn it off)
My ex: (none stop ringing), I answer. I knew you wouldn’t help me (lays on a million different manipulation tactics and strategies)
Me: ok I’ll lend you the £1000 but you have to pay me back by (sets deadline) …..
I see my ex within a few days, she manipulates an argument. Has me arrested and I never received all of the money back and she then used this scenario to have a non mol placed against me.
Here’s the lesson.
Don’t let anyone know you have any money and do not lend it to a single soul. The world is tough and the only person you have to protect is YOU
I recently inherited almost $1.8 Million. I REALLY need to make this money work for me, and not just disappear over time. I've been scrambling for somewhere to put the money, where I can make an effort to use the gains to pay bills so I can quit my job . All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market?
I fully agree; I'm 60 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one.
@@sommersalt88 I've been looking into advisors recently because the market news hasn't been very positive. who’s the person that is guiding you.
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "LISA ELLEN SHAW" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
@trevorogden3288 To add to this comment: Make sure the Advisor is a fiduciary. otherwise, they only need to make sure that your ROI is high enough to cover their commission.
Taking into account your current age is important too. It will affect your investment horizon /timeline, which will in turn affect what you should invest in.
My friend passed away recently. He was worth 9-figures. He drove a Ford Taurus and wore shoes with holes in them. He was the epitome of stealth wealth. Father founded one of the largest corporations in the world, which owns dozens of the newest 600+ ft cargo ships.
He cared about helping his preferred charities and friends.
I had some decently well off or at least secure family members of an older generation and they were all pretty frugal natured including the lack of care to clothing status. Thought it odd as a naive kid but now I appreciate it. They were generous to pass on some of that wealth as well.
It's really tragic that Jack Whitaker lost his daughter and granddaughter, but he wasn't really "cursed". He drew attention to himself and threw around literal cash, and he didn't even insure his house so it was a total loss when it burned down in a fire. Media and articles continue to say that the money ruined his life, but it's really what he did with it that did. Supports this video even more, really.
Yeap, when you are that rich there is already more than enough ways to secure yourself and family.
Exactly 🙏 They want us to believe that money doesn't make a you happy and brings bad luck so we'll be more likely to say oh well I'm just happy being able to feed my family and have 1 holiday a year because " money doesn't buy happiness anyway" 👌
@@Dys_123 Yeah you're right it's almost like a superstition
Jack Whitaker owned a successful construction business worth at least a million prior to winning the lottery. He spent it on flash and drinking.
Money doesn't kill, it's the spending
“ You will want to upgrade your contents in your passenger seat to a newer model”
ye that was pretty smooth line
Now that's the real expense.
Hence family court expenses mentioned 10seconds later. Pure cleverness.
@@stapleman007 I laughed so hard I almost woke up my newborn after hearing that. 🤣
🤣🤣🤣🤣that passed me but I get it now
_There is one who pretends to be rich, yet has nothing; There is another who pretends to be poor, yet has great wealth._
Proverbs 13:7 - The Bible
I actually went to the Bible to see for myself the citation. Great job finding those words, they fit so well here.
@@km077 looks like truth was spoken
The ransom of a man's life are his riches: but the poor heareth not rebuke. Proverbs 13:8
So many Christians watching to be responsible financial stewards. Awesome!
@@JWu-jt7fz Mamon can't rule over you if you control your money first.
Getting a head start by beginning to invest early is the most effective way to build wealth, with investment taking precedence. I've learned from last year's experience that starting early allowed me to create a better life through early investments this time around.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $650K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
I always consult a financial advisor before investing. During the pandemic, I used their tactics to minimize risks and maximize profits, generating around $3 million in three years with my advisor, Stacey Lee Decker.
I'm intrigued by the idea of investing with an analyst, it seems like a wise choice in today's market. Could you provide me with some guidance on how to get in touch with her?
With the help of google you can book an appointment. She has a wealth of experience in the financial market gained over several years.
You spam bots are the WORST. Sweet lordy
I really appreciate that you don’t drag out the answers. It actually is far more entertaining to hear the answer and then the explanation.
Yup. I think this man is at a forefront of a new trend with the simple answer up front followed with the explanation.
I’d be that rich asshole driving around in a Prius 😂
No matter how much money I have, it never hurts to save money on gas.
and spend more on repairs
I'll be that crackhead stealing your catalytic converter.
Whoever thought it was ok to require lottery winners to publicly accept their winnings should be locked up.
I would consider disappearing after collecting
Some states let you be anonymous. But since states run the lottery,(which is fuckin looney), they want to parade the winner as the relatable regular average joe to incentivize more people into buying more tickets
In most cases State lotteries were decriminalized in the last century to give states more revenue for things like schools so big businesses could get a tax cut.
The fact that a chance of winning exists, gives the state the power to put a tax on optimism imo
my uncle is great example of this, has been a high end realtor in my city for my whole life, lives in our neighbourhood, drives a minivan and has an old corvette in the garage, i knew he was successful but didn't realize until i graduated high school he's absolutely loaded and only works in the summer when the market is hot and spends the winters skiing and day drinking at his winter house in the country
looks like absolute dream to me 😉
My wife and I drive modest cars, live in a modest house and like to hang out at a local dive bar despite having a net worth that most would consider wealthy.
We prefer to keep our financial status private; however, during one recent visit to the dive bar, a scruffy old farmer in dirty jeans overhead us talking about our annual ski trips to Switzerland. He asked us for advice about European travel because he was planning a trip for his wife and kids. Turns out, he owned a farmland, cows and dairy business worth in excess of $10m.
Rule number one: Never, ever think about, or worry about what someone else has. Nothing good ever comes from that. Rule number two: Never, ever let someone else define what "happiness" means to you. Rule number three: Don't drown yourself in debt to appear to be something you are not. Again, define your own happiness. Rule number four: Set your goal to be debt free by the time you want to retire. There is nothing worse than seeing old people working minimum wage jobs because they didn't save enough money to retire. I retired debt free in 2016. My wife retired two years later, We are yet to draw any money from our savings. That's what "debt free" will do for you. Look forward to the day you don't have to work. Plan and prepare for it. Trust me, you will be glad you did.
Rule number four: Make sure to be born in a rich country
the idea of debt free is also coming from poverty. Rich people leverage their assets and borrow money, money that becomes cheaper to pay back due to inflation. Only poor people have "savings"
@@ishzsbxux Norway!
@@memyselfandI90001 Actually if you borrow money using stock margin method, you not only have an easier time paying it back from inflation but as the markets go up you become even richer for having borrowed the money.
It all goes well till it goes bust :p
Why rich.. is often times a temporary status. Though don't confuse the rich with the wealthy, the wealthy tend to stay wealthy until the fortune gets divided between too many spoiled kids several generations later.
I have
Honestly, if I were rich, I'd keep it a secret too. No one would ever know.
Shits a literal death sentence
Is it weird I don't want to be "rich?" I just want to make sure I have enough to accomplish specific things in life, have a fair amount of freedom, and enough saved up for emergencies and necessary expenses. If that happens to be considered alot of money, then so be it; if it isn't considered that way, then so be it.
No, it's not weird. Wealth has diminishing returns and it's completely on you where your sweetspot is.
Although admittedly, for most people, it's somewhere where they don't need to worry about losing a job or they don't get ruined if their washing machine and fridge decide to blow off at once - or beyond that.
For me, the "I needn't worry about random life crap" is also a completely valid target.
No, it makes you a moral human being!! Being rich is a moral failing in my book.
As someone who's basically entirely ready for "grid down" on the material front (something that takes a lot of wealth), no it's not weird. Knowledge and experience can't be bought. I find myself still learning, crafting and training often. I forced myself to upgrade the plumbing on a property, because I needed to learn how it works. If I own something, I want to know everything about it.
"look and be rich" > "be rich look ordinary" > "look rich" > "be rich look poor" > "be poor"🤣
Nope! Not weird at all!
I"m in the same boat and make a modest salary and up until a few months ago I was fortunate enough to have had cheap ass rent for more than a decade causing me to save a shitton of money. I can get everything I want right now short of an actual house. If I doubled my income, my life would not meaningfully change in any real way.
(That being said, I do want to buy a -small- house one day)
"The Millionaire Next Door" will lay out the game plan for a young person. Funny how growing up poor can make some people very smart with their money yet have the opposite effect on others. It is a really good book on a lot of different levels.
Highly suggest it. Definitely shifted my mind on many things
Currently reading it. The data is old and skewed, but the principles remain the same. Good luck finding decent homes today for $300k.
@@adamross4295 Come to Oklahoma brother.
I watch your videos all the way till the end regardless of the upfront answer.
I remember I was going to work close to downtown where I live to do some work in the basement of a multiuse building. When I got there there was a guy outside picking up dog poop wearing these ugly yellow shorts and a funny orange/salmony shirt with a widebrim hat. I ignored him and walked right up to the door of the building and started to unlock it, he then approached me and asked if I was working inside and he'd like to see what I was working on, so I say ok sure stranger man why not just don't kill me down there and dump my body in the vault. As we went down he talked about his dog the weather and how much better the basement looked. He finally asked me my name and I his. Well damn if I didn't recognize his name, funny shorts and hat man was the owner of the building... This one and 2 others I'd worked on. Multimillionaire by far and you woulda never guessed.
Same thing happened to be at Miami beach hotel , the little canadian jewish guy was super friendly and asking me about the front desk ppl treatment and i said " oh youre the owner"
- com on man Do i look rich ?
I said i dont judge ppl by the appearance .
He was my buddy who buy me drinks for the whole week staying there .
The Ford F-150 is most likely so popular with the wealthy because it fits the requirements necessary to make it tax deductible as a business vehicle... this is also a key factor in why Suburbans are so popular.
So the people who buy it to get tax deduction write it of as a business expense of their business?
@@tejasgudi1169 it can only be used to offset tax on business revenue, you can't write off the entire cost of the vehicle.
@@tejasgudi1169
Depends on the biz. If you claim it as a business expense, but it's never used in your business (like if your business is spent on the computer all the time trading equities, streaming, drop shipping, etc.), and they audit you, you're going to get in hot water.
@@manictiger but if we have a office and we have to travell to it from our home then we can use it as transportation and reduce tax, right?
@@tejasgudi1169
Honestly, it probably doesn't look good if it's your only vehicle. If it's a second vehicle, yeah, I'd deduct it. Also, be careful about buying stuff against business income that hasn't come in yet. That's a tax-planning trap some people fall for, and then they wind up saddled with punishing debt, or worse, can't pay their tax bills on time.
Money doesn't buy happiness. It buys freedom
Ego is the most expensive and most time consuming thing to maintain in one’s life. The moment you let go of it, is the moment you become truly free.
Top votes for stealth wealth from me. Being able to do what you want, when you want and how you want to me is the ultimate and doing it under the radar is even more satisfying.
Yes, I live in Germany and it's fun. But it's hard to implement, because a car, a big flat, all the holidays and restaurant visits, are hard to hide. Your friends will notice and so will partners you meet.
Feel like we see stealth with anything is kind of cool when you are good at something. Like imagine a pick up basketball game where you shit on the competition or randomly pick up a guitar and start playing something cool. Pretty sure it would be cool being a multi millionaire while looking like your regular joe.
That's still showing off even if concealing talents at first. AKA not stealth.
@@MSportsEngineering No. Showing off would be to tell everybody at the Basketball game to look at you and tell them youre gonna beat them and then Film yourself and Post it all over the Internet
You picked examples that were ALL ABOUT being flashy and not stealthy at all.
I am good at playing piano. It is fun to just start playing and impress others by playing a concert piece or an improvised three-voiced fugue. I don't always do that but it is always a nice surprise. Whereas if you play everyday people will get bored with your playing
You've described exactly how I plan to spend my money if I got a sudden windfall. I don't like attention; I just want to not have to worry about end's meet or paying off debt.
There might be an economical turmoil but there is no doubt that this is still the best time to invest.
Best time to invest? thats funny tho because in the last four months I have lost more than $47,900 in stock market which is the biggest I have loss since I ventured into stock investment.
you could be right or wrong depends on your expertise, I once made such loss when i invested thinking i have gathered enough trading skills from youtube videos
now its a different ball game for me because I was lucky to have met "Tamara Diane Hagan", a financial manager and stock expert, I have made more than $165,000 in 6 weeks under her supervisions.
Really? people are cashing in from the stock market and frankly speaking its comforting seeing someone admit to the fact that they actually seek help from professionals. please how can i reach Tamara ?
search her name on the internet to reach her
Wealthy is quiet. Rich is flashy. Poor is loud.
Making money is not the same as maintaining it, which is why i don't understand why investing is not properly taught in schools. The examples you provided are well founded, and the market crisis brought me my first millions. While most people avoid difficult times, I welcome them-or at least, my adviser does, hehe.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation, how do you go about this are you a pro investor?
@@jerryscotfield6913 Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
@@tylerforeman667 wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
Lol, I don't wanna be rich. I just don't want to be constantly worrying about my existence.
Best comment here.
Really is. I think that’s what we all really want deep down is to not worry
germans are a perfect example of this, there are so many millionaires and billionaires in germany and i bet you couldnt name 5 of them
Millionaires make up 8% of the population in the US - around 1 in 12, or 26 million people. Lots of anonymous American millionaires as well. Where I live, the older guy driving a Ford F150 King Ranch is almost definitely a millionaire.
@@epbrown01 1 million also doesn't buy what it used to. In the northeast, a lot of modest houses are approaching $1 million
@@john-9658 Sounds like you guys are running into the Cali problem. Too many politicians invested in real estate with every incentive to strangle home building.
I'm not sure I could name five Germans at all -- living ones, anyway.
Honestly I just wanna be able to buy a game without checking my bank account first. That is my biggest drive. Having a savings big enough to afford parts to fix my truck wouldn't hurt either. This is why I'm trying so damn hard to get out of debt. Then I'll have more money than I know what to do with, as I pay more to the banks with minimums than I do for rent.
Yeah that's how I define having enough money, you could go shopping and grab the credit card with no doubt you can pay for it.
Often times the things we own end up owning us. Buying financial peace of mind and margin in your life is one of the best things money can buy.
One of the more wealthy people I know is the living embodiment of "stealth wealth". He's in his 60s, and retired when he was 40 after working on Wall Street. In that time, he was able to raise 3 great kids and enjoy his passions; baseball, fishing, drinking beer and managing his own money. He has a couple of houses in high end areas. Nothing "out of this world" impressive, just really nicely kept places in awesome areas, but overall pretty modest for where they are. Drives a Toyota Tundra and his wife drives Jeeps. He likes to just fly under the radar and live a comfortable life. I truly admire the guy for being a "normal" guy.
yeah I'll admit you provide some of the best and most relatable financial topic video's out there keep it up
Thanks :)
@@HowMoneyWorks what is your day job?
@@shaheryarhabib5865 he's probably not going to disclose that due to privacy reasons or he's full time youtube
@@daham1364 i am not asking about his job tittle. i am just wondering what kind of job he does, like fund manger. accountant , economist, etc.
@@shaheryarhabib5865 his day job out of college was working as an analyst for an Investment banking firm, so he could be in any kind of finance
Those low key jokes... 😂 "Wouldn't say no to a free truck"
"Update the contents of the passenger seat"
Own NOTHING CONTROL everything. " John D. Rockefeller" Owning wealth and having large income makes you a target of the IRS.
I'd rather make $1B and be taxed on it than make 100k and not be taxed.
@@yashdes1 Good luck. Honestly, it's difficult to become a billionaire and get taxed a lot, since almost no one gets there with taxable (earned) income. Hypothetically, as a millionaire my taxable income is only 5% of my net worth.
I just want a house in a normal neighborhood, own a japanese sports car, and be able to retire comfortably when i’m old.
One point that was not addressed are friends.
Once it becomes obvious that you are really rich you are going to lose all your "normal" friends.
Some are going to try to scam you, others will be intimidated by your wealth. You are left with people of comparable wealth.
It can be really lonely to be rich.
I am a firm practitioner of stealth wealth. Not even my family and wife knows about my net worth and I prefer it that way.
If everyone happens to know you have a lot of money, then everyone will suddenly want to be your friend, people will reach you out to borrow money, they want to guilt trip you into paying them a dinner because you have lots of money and they’re broke, etc.
Nahhh, what brings "interested" friends is actively showing off your wealth.
It's a state of mind that bring another people with the same toxic state of mind.
Hiding your wealth purposely from your friends and family, is pretty much the same state of mind. You are spending energy and time on the perception people have of your wealth.
What's described in this video, is people NOT CARING about showing their wealth, all they do is secure an easy life. And that doesn't involve buying luxury goods, cars and mansion, or on the other hand, purposely buying shitty stuff to look poorer than you are.
The key word is "not caring" about it, not hiding it.
Happy you're doing well, but had to downvote since hiding your net worth from your wife is obviously very unethical. If you can't share your wealth with your wife you have an unstable marriage.
@@twistedspine7300 You’re to downvote as much as you want. I can tell you’re pretty young.
No matter, once you grow up you will understand why you must keep certain things under the rug, even keep some of your things from your wife at arms length🙂
I actually lived next to a stealth wealth couple growing up, and never really realized it until a few years ago - I knew that their driveway was longer than ours, and I had one vague memory of going up there once as a child with my mom in the "learn the neighborhood" sort of thing, but never really connected it until a few years ago. At the time, my father casually mentioned "oh yeah, that was the estate of the family that founded the city. They were high-end multi-millionaires."
Part of it was that we both lived next to a fairly large undeveloped lot - so I didn't realize that on the OTHER side of the undeveloped lot was a fairly large estate - in my mind, it was just all "the vacant lot next door". And the far side of both of us was a community college, so it kind of blended together in my mind to being part of that as well. But no - turns out a big chunk of that land was a privately-owned, southern-style mansion (in the Pacific Northwest, of all places.)
I've always claimed to be a minimalist, but since I'm poor others say I'm just phoney, and if I had money I would be as material and thing oriented as everyone else. So this video is very comforting, since I have already considered and value the ideas he brings up.
People will always say things like that. My personal recommendation is just do not tell people your plans and goals.
I have the exact example of this kind: my in-laws. Especially the father.
He's both a successful professor, some side business he's invested in, and has stable compounding interest from investment. Yet he's still riding secondhand Nissan Grand Livina from 2010 and has a very modest homemade meal every day. The house they're living in is a very modest house in the outskirts of the city and nothing indicates they're wealthy.
The most lavish stuff he had is actually the amount of land asset my in-law actually owns: at least 10 properties across different cities, all strategically placed and can be used for personal use when the time comes, like some sort of villas. Yet nobody realizes this.
I still remember the awe when once in a while he wants to splurge: spending tens of thousands of dollars for family outings like it's nothing, and very generously helps me financially when I and my wife were in a bind when I'm laid off because the company I was working with went bankrupt.
I used to work for a guy like this, he was a multi million hair who drove a old Toyota 80's series land cruiser wore old flannel shirts and his blue heeler was always with him. He was one of the most down to earth people I've ever met and if you were willing to put in, he'd be very generous. His only tell was his 30 foot inboard boat at his river side house in the inner city haha
I knew a corporate lawyer who was on the company private jet regularly and worth a lot. He would buy pickups and keep them permanently, had 5 of variety ages. Very direct kind of guy but would see a property nearby worth over $100K and decide in a few days to buy it for his rentals portfolio. He had been divorced but was still wealthy. He was a flannel short and pickup kinda guy, still cutting his own firewood.
Freedom over flash.
When I was young and started making a lot of money (for me), I did the show off route -- big house, lux car. I'd say part of that was showing that I was "good enough". Now much older, I have a small home with a bit of land, reasonable car. My flex are my chickens and garden. I live a quiet, simple life and don't give a rat's ass what others think. I spend on what's important to me.
The rich people I know don't care to spend money on fancy things. Like they have no general interest in it. It's not that they are actively avoiding.
Second they seem to have an unhealthy obsession with accumulating wealth.
Personally I hit a wall with what I want to accomplish and needed more funding. So I sought out alternatives. Now I'm just looking to expand. until it hits a steady state. When I can focus on the reason I need the money in the first place.
I live within my means but I like fancy things like cars. Prior to the "wall" issue, I didn't care much about how much I was making as a software developer.
Wealth buys freedom and that’s what I think the biggest goal is for me.
And don't get married.
It's a problem when someone who is lonely makes a lot of money because that person would try to get attention using money. To be cool with lots of money, you first have to be a grateful person who is living a life with an abundance mindset. This mindset is also the key to living a fulfilling life.
If I had a lot of money, I would probably purchase land and build homes on it to rent or grow fruit trees to sell fruits. Not going to be starting my own company or whatever headache, something that is relatively easy to maintain is ideal. Would be nice to also be able to travel around with loved ones and make beautiful memories too.
Exactly, I used to work in an electronic retail store on the edge of a city that the surrounding area had a lot of farmers. They would come in dirty and stinky and in farm gear and you wouldn't suspect a thing....until they bought expensive TVs with straight cash. Funny enough, there's also a RUclipsr I watch who, a couple of years ago, went into a car dealership to buy a US$50k car (he was replacing a 2004 pile of.... that he kept from before he made it on RUclips) and he went in with a singlet, shorts and flip flops. He could tell the dealership salespeople weren't taking him that seriously when he was asking questions about vehicles he was interested in......until he signed the contract and paid for the car in full, that he intends to keep for at least 15 years. Stealth Wealth is *everywhere* and you will never suspect it.
"You might want to upgrade the content of the passenger seat to a younger model " 🤣🤣
I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.
I cannot focus on the long run when I should be retiring in 4years, you see l've got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/ unstable market doesn't provide any calculated risk opportunities to make profit?
I have been consistent with my profit regardless of the market conditions, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a popular forum, long story short, its been years now and I've gained over $850k following guidance from my investment adviser.
I've been down a ton, I only hold so that I can recover, I really need help, who is this investment-adviser that guides you
If that is the case, it would be an innovative suggestion to look out for Financial Advisors like Olivia Maria Lucas who can help shape up your portfolio.
Trying times are ahead, and good personal financial management will be vital to weather the storm.
Olivia Maria Lucas truly appears to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
Basically, spending money wisely makes you happier(and probably richer).
Spending money foolishly makes you more miserable.
Poor Whittaker family, if there is a legal requirement to publicly disclose the name of winners there should be extra legal protection for them too
I think there have been enough stories over the years that a lot of states don't have it as a requirement any more. I know there was one case where someone killed the whole family. Frankly, if it's a requirement in your state, you usually have 60 days to claim it so what people who are smart do, is form an LLC and have the LLC claim the winnings. If you live in California, you're screwed no matter what. There's no way to claim anonymously.
@@ellencox8415 wow, that is so sad...
@@ellencox8415 never knew that about cali… sigh just another reason to hate this state
Whatever you buy, if you have to worry about maintaining it or managing the maintenance of it, you can't afford it. If you don't have passive income that can cover something like the upkeep on a boat or cottage? Then you can't afford it. It really is that simple.
We mostly have done things smartly and are not at all rich in the sense that those who are definitely not, would think we are. We are, however, in a position where unexpected things aren't that big a threat short of, you know, calamity that will mostly wipe out everyone else anyhow. That feeling of security is massive and is a source of happiness in and of itself. There are definitely choices we made in the early years of adulting that delayed things but there are also things that can happen that are outside of our control so you just have to roll with those punches.
This is my testimoni how I made millions in a week
.....
I'll recommend you to my broker Mrs Susan my first investment with her earned me profits of over $88.400. And ever since then she keeps delivering and earn consistent profits for me she's the best.
Every bitcoin investor right now is just smiling at the price of bitcoin as it head strong and indeed valuable enough to generating Roi. More persons are gonna become millionaires and we have Bitcoin thanks for that.
@@Ethan-oy3gb How favourable is the market now I want to invest in cryptocurrency?
@@louislogan2963 Yeah favourable.
@@Ethan-oy3gb Yeah sure forex and crypto yields more profile with the favourable market rise.
If you work hard and achieve financial freedom then you should enjoy your wealth however you want. There is no wrong way to be rich, it's your money. Do whatever makes you happy. I like luxury goods, but I am also very private and introverted. My goal was to live a very leisurely lifestyle. To avoid crowds and haters I fly privately and enjoy exclusive accomodations tailored for me. I use my wealth to craft my perfect life.
I remember a story from many decades ago in which a reporter dressed as a homeless man and went to various car dealers asking for test drives. Surprise! The dealership that didn’t question him and gave him top notch service was Rolls Royce. In follow up for the article, he asked the sales representative why they treated him that way. Their response was “We don’t know who you are. We had someone looking like you come in before that bought 10.” Very rich people don’t have to look rich.
I legitimately just want to own my time. I hate working and just want to travel with my wife. Stealth wealth sounds amazing
Money buys time, which is the most important part of our life.
There's an old saying: "If there're anything money cannot buy, it can be bought with a lot of money"
I'm not wealthy, but I have a healthy savings. Especially considering I grew up poor and my family never had any savings growing up. Honestly being poor is all I know. Even though I can afford a nice house and fancy car, I just don't like to draw attention to myself. Plus crime is going up dramatically where I live. I figure I'd just be the target of a crime if I flaunted any kind of wealth. So I'll stick with my 8 year old pickup thank you.
Move to a better neighborhood.
Minneapolis resident spotted!
This was a great video. Not only is the advice intelligent and wise, it's practical. I like how money is not presented as either good or bad here. It makes it easier to be less emotional about the subject.
I also think that the idea that money can or can't buy happiness is cliche and incorrect. Money is there, and it buys stuff, but it isn't going to make you happy or sad. How you use it and how you obtain it will determine the results more.
If acquiring the money is miserable, then spending it won't make you happy. And likewise, if you buy things for the wrong reasons, you won't be happy with how you made the money.
This is coming from someone who is very critical of money in general too. So it's nice to be able to hear something about smart finance that isn't triggering an emotional response from me.
In the days when Concorde was flying across the Atlantic any private jet owner with a Concorde ticket got priority landing at Heathrow. So wealthy private jet owners would book a seat on Concorde as they approached Heathrow, which they were not going to use, just to get the priority landing.
I guess that's one way to make Concorde profitable.
That is horrifying! Disgusting people!
Why not just sell priority landing tickets out right?
Emm, how and why would Heathrow tower grant a private plane priority landing because of a no-show ticket holder on a commercial flight? 🤨
Loved the “ up grade who ride with you to a younger model” 😂
The reason I want to be rich is so I can do the research I've always wanted to do (since I'm a scientist) and that I know will benefit everyone I care about because there's no one right now that has both the knowledge/skills and the money to do that. And most importantly, I don't want anyone to know that I'm the one that funded/conducted that research. Simply seeing the benefits is all I want, plus I hate attention lol
I think that this concept goes hand in hand with minimalism. Minimalism isn't just about not having a lot of stuff its about only having the things that you care about. That way you are free to have more money to do whatever with.
Thank you again for not dragging out the answer. Doing God's work
The algorithm brought me here and I did watch most of the video. A few comments: There's a huge difference between the people who make even a lot money and those who simply have wealth. No, "8 figures" isn't "wealthy". I'm thinking now about the very few people I have known over the years who have congenital wealth...billions accumulated, in 2 cases, over centuries both here in the US and in Europe. I recall one fellow who invited me to a small dinner party at his house. He later said...something of a guilty confession actually... that his security people (I never saw them) investigated me briefly to be sure that I wasn't a risk. It was only after that that a party invitation could be extended. He drove a Toyota station wagon, wouldn't have been caught dead in a Rolls or Bentley or anything at all similar. He had a very small household staff that virtually never changed over the decades. He wore average clothes, did not use the ancient family name, only one of his middle names as a surname, etc. I can say with confidence that he really didn't know exactly how much money he actually had. He didn't "manage" it himself. A firm founded by a relative did that and simply saw to a steady flow of capital. In life, he did the things he liked to do: Collecting and writing about art, painting, shooting skeet, riding, carriages, golf, tennis, his dogs, sailing, Paris and London (he had magnificent houses in both cities), Milan, Tuscany, French cuisine...he was an expert, etc. The social gulf between men like him and those who have made money can be huge. Which make better dinner companions. I guess it all depends. If you have made a significant amount of money, have provided for your family (trust funds, made your children responsible adults), put it on autopilot and ENJOY your life. I guarantee it will always be shorter than you would have liked. Make every day count.
Hehe, I had a colleague who drove a new Ferrari. He was constantly complaining about it because it broke down all the time. It got repaired because of warranty, but it still annoyed the heck out of him.
He shouldn't have had to buy one to find that out. It's common knowledge. My neighbor drove one, too, and it make him the target of a home invader who murdered him.
Stealth wealth describes me and my family very well. You would never know we have money but we have the most important thing of all...freedom and peace of mind.
Stealth Wealth is something I'm trying to get in the habit of! I am one of the car enthusiasts you mentioned and not having kids + having a high 6-figure income means that I'm very VERY tempted to buy insane high end or flashy cars. Not for the flex but for the enjoyment of driving something unique, special, and with deep pedigree. I think, lately, we've been doing a lot better in my house, but we still get caught out. This video has really inspired me to start dialing things back a bit. I'll probably always drive Porsches, but instead of a Panamera Turbo or 911, a Macan of some variety will be slightly less . . . .stately. I already live in a normal-ish house with no plans to go up from here. If anything, I'd like to go slightly smaller. That'd be neat.
Cheers man. I've been about stealth wealth from the beginning, but damn do I enjoy cars too much. RS3 is my poison, but I may not order it in such a vibrant color even though I love bright colors.
Big Porsche fan myself - I've owned 4. A Boxster would suit - you'll probably never exceed its performance limits, but their reputation as "the poor man's Porsche" lets you fly under the radar a bit.
Another option for gear heads is motorcycles. If there were a dealer nearby, I'd totally be riding a Ducati - an Italian exotic without the attention of a Ferrari. ;-)
So you wouldn't buy what you want because you're afraid what other people will think of you ?
Doesn't thay make you the same as people spending a lot to show off and pretend to be rich ?
Buy whatever you like, why would you care about others opinion ?
@@nikolal.4502 This is America - people will kill you over a difference in opinion.
May I suggest renting your very favorite cars when on vacation. You can enjoy them fully without the long term cost and no one who sees you knows you.
Love the idea of stealth wealth. There is so much less stress once you stop trying to keep up with Joneses and practice financial minimalism.
Personally, I want enough money so I can pursue my hobbies (math and electronic music production) and maybe start a family, and buy a small house by the sea in Greece and live happily ever, which I won't because I don't have the money to do so.
C'mon, man! Life is long, you'll get there.
The only thing I see wrong with this video is the fact that this guy seems to think having to deal with property management companies or house cleaning/upkeep companies is some horrendous problem. I'm pretty sure most people would rather be multi millionaires/billionaires and have to deal with an occasional meeting once or twice a month and the occasional contract renegotiation, than work a 9-5 they hate making minimum wage.
Other than that, I couldn't agree more with everything he said. It's stupid to let your life revolve around the image you project to other people. Spend money on what YOU like/want and live a normal life.
I think the real truth about many expensive products is that they really don’t provide usable benefits but are instead status symbols. For example an instagram influencer buying a Lamborghini isn’t doing so because he thinks the cars faster acceleration is going to enable to him to more efficiently cut through London traffic, it’s just a status symbol. The only expensive cars you should buy are track cars if your into Motorsport as it’s more of tool and your utilizing more of it.
Best video so far!!! It explains exactly what have been doing for quite some time. Stealth wealth also includes using the money to disappear and go off the grid for good.
I didn't know there was a term like this, but I always thought it was what I would do if I was ever wealthy. As a kid or teenager I used to always imagine all the flashy stuff I'd like to buy if I ever had the chance, but as an adult, with even a bit of thinking, I'm more inclined to ask why and think it's pretty pointless.
I don't care about cars that much, so having an expensive one won't make me particularly happy. I'm perfectly happy driving a Toyota, Ford, Hyundai, whatever. Same goes for a house. I see these massive celebrity and influencer houses and I just wonder what would I even put inside them.
I'd still want money for the security, or to spend on nice things that I actually get some utility from, but the whole idea of spending loads of money on things just to show you can now just feels really tacky and tasteless.
What confuses ordinary people is that wealthy people focus on more on value for money rather than price when they buy something. The best value for money might be a very expensive item or a surprisingly cheap item, so it's not uncommon to see a rich person having $10 million in their retirement fund while driving a pickup truck.
“You might want to upgrade the contents of the passenger seat to a younger model.” Slick.
Took me a couple seconds to process that, lol.
The issue for me, is that I freaking love cars. I love the engineering that went into them, the sounds they make, the forces they make you feel. This video did make me consider the next color of my car though...
The problem for me is that I like cars and I like taking photos, like god damn man I want to keep my car to myself but I can't stop taking photos. I ended up with another instagram just for my car that's almost completely separate from my personal. It's not even an expensive car, but it's an oddball that gets a lot attention.
But you can have an expensive car and keep it to yourself, I know people with Porsches that never actually posts them on social media.
Some people like fancy clothes, some people like to dine out regularly, some people like mansions to live in. It is all about budgeting. If you live well within your means and save for retirement stuff etc and at the bottom of the line you can afford a nice car, why not?
"upgrade the contents of passanger seat to a younger model" this straight up killed me :D
5:30 I must admit, you caught me off guard there. Had a good laugh.
Ah, Windows XP. Good times! Rumor has it that some places are still having it.
I'll never get over how brilliant Leno is for defeating the car collector trap. Man took his passionate that was burning a MASSIVE hole in his wallet and turned it into an income stream all while achieving his ultimate goal of just geeking out about cars and providing normal people access they otherwise wouldn't have. Very smart. I don't even like to drive and still watch his stuff from time to time just because I like how passionate he is about it all and the interesting engineering stuff.
Man you're like Financial Guru, your every word makes me sense to me!
This is so good ! The richest people I know drive older (but reliable) cars, dress up like you wouldn't notice them and eat in places where I would consider 'meh'.
I love frugality deep from my heart. I don't enjoy spending and I do not enjoy working either. So frugality on savings is my way.
Wow, always great content, thanks.
I consider myself coming from a quite wealthy family (top 10-15% revenue in france).
I've always felt that real wealth is stealth wealth.
I really hate people showing off, they look so fake and so try hard.
I never theorized this as well as you did. I was amazed, that, at every argument you made, I replied in my head "Yep, that's what I do".
I thought I was quite unique (survivor bias, stealth wealth is by definition, unnoticeable, show offs are), happy to see I'm not alone.
I do think, this reasoning is at the base of "Money doesn't buy you happiness".
I like how you give us the quick answers first, and then the explanations later. It's so refreshing to see a RUclipsr do this.
Great great great perspective. Stealth wealth are where the real wealthy people are. Security and comfort is 1st priority.