Rich Or Poor... Do You Have The Right Mindset ?
What is the psychology behind wealthy people who don't spend their money and act as middle class?
YEET MAGAZINE - Money - Wealth - How To Be Rich Not Poor
By Kevin Yue | YEET MAGAZINE | Posted on September 17, 2021 at 7:32 am
What is the psychology behind wealthy people who don't spend their money and act as middle class?
There are 3 types of rich people:
- The Authentic Rich (Rich from father to son)
- The New Rich (Built their own wealth)
- The Rich by Accident
The Authentic Rich are those who go to Harvard, Oxford and the like from father to son. Their families have had money for generations and have made it grow over generations. They tend to look like this:
The nouveau riche are people who have earned a lot in their lifetime. They tend to be CEOs of very profitable industries.
Here is Mark Zuckerberg in his Acura TSX. $ 30,000
And then there are the Rich by accident. These are all the people who made their money from skills that have nothing to do with money (non-financial skills). Famous athletes, actors, musical artists.
Most of the time when people talk about "rich people" they think of the third group. Which is funny because the third group is actually the poorest and is often looked down upon by the first two.
In fact, I have heard wealthy people patronize them as “the poor with money”.
You see, the "rich from father to son" inherited his wealth. He grew up with it. As a result, for the person in question, wealth is not exciting. This is how. Having money has always been normal for them. So they only spend money if they find something they really want, something they find quite rare and of a quality commensurate with the time [they are going to invest in it].
So when "the rich by accident" spend a fortune on something that doesn't last, it's not just waste, it's awkward! It's like walking around with his penis sticking out of his pants just to show his size. It is obvious that only a man who is not sure of himself could boast of [doing] something so trivial!
If you wonder why the rich from father to son can look “middle class” (to the untrained eye), it's because they only spend on things they really want or want. really need. Their goal is to leave their wealth as an inheritance to their children, just as they themselves received it from their parents.
For the nouveau riche, showing off your wealth is not a crime. But it's stupid, and that's the most serious crime.
The nouveau riche earned their money by being good at gambling. They have spent their entire lives optimizing everything. Maximize their income and minimize their expenses . They are businessmen [and women], they smell unprofitable investments like a shark sniffs blood. Spending money stupidly is not just a waste, it is a sign of weakness, a vulnerability that their competitors will know how to exploit.
So when a nouveau riche buys a house, he is already thinking about the value of its resale. When he buys a car, he thinks about the impact it will have on his business, his journeys and his insurance. When he buys a bottle of luxury wine , he negotiates with the seller until the seller gives him a discount., he negotiates with the seller until the latter gives him a discount., he negotiates with the seller until the latter gives him a discount.
If you are wondering why the nouveau riche can be "middle class" (to the untrained eye), it is because they know the real value of money and want to focus their efforts on investments that will make them more richer. .
So, to be frank […] the people who really act like the “middle class” are the ones who let their wealth go to their heads.
The genuine wealthy are too used to it to be influenced by its appeal, and the newer know all too well the exact value of every penny.
Only the poor, who have no idea what the money is or how they got it, spend it like you seem to think the real rich do. In fact, they behave exactly like someone who doesn't know anything about money.
When they shop for designer clothes, the genuine wealthy roll their eyes because the fabric is horrible and the fit won't be in fashion in six months. The nouveau riche say they could get the same item ten times cheaper without the brand's logo.
When buying luxury cars , the nouveau riche cover their eyes with gas mileage, while the genuine rich lament that such a beautiful machine is in the hands of such a bad driver., the nouveau riche cover their eyes with gas mileage, while the genuine rich bemoan the fact that such a fine machine is in the hands of such a bad driver., the nouveau riche cover their eyes with gas mileage, while the genuine rich bemoan the fact that such a fine machine is in the hands of such a bad driver.
As they build their homes, young people in high schools desperately wonder how an ebony table can be thought of as a pine floor, while tech giants ' calculate how many millions the owner has lost. on the resale of his land just by adding a four-car garage.'calculate the number of millions the owner lost on the resale of his land just by adding a four-car garage.'calculate the number of millions the owner lost on the resale of his land just by adding a four-car garage.
One of the best quotes I've heard about money?
“It's just a symbol of its status for people who cannot afford [to have status]”
Here is the richest man on the planet, baseball cap on his head. “Middle class” enough for you?
TLDR: "Spending all your money" is a "lower class" idea, and the majority of really wealthy people just don't relate to it.
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