29 Fun Bits Of Info That Can Only Be Known By The Very Rich, As Listed By People Online
One might believe material wealth to only be a means to an end, as opposed to certain things with an intrinsic value; however, whether one holds such a belief or not, it does not prevent riches from providing certain exceptional benefits, experiences, and opportunities. While possibly, on the flip side, preventing rich folks from empathizing with some non-rich people’s experiences. People online stepped up, trying to outline the specifics of one’s experience as a rich person, by answering one Redditor’s question: ”What is something only a wealthy person would know?”
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The more money you have, the more ways you have to make it grow. To the point that it increases faster the higher it is -- not just in absolute terms but also in percentage growth.
I wish I still had a link to it, but there was a lengthy post once by a guy that described what life was like for people at varying degrees of wealth -- $1 million to $10 million, $10 million to $100 million, and so on and so forth.
Until he reached the upper echelon, which started (IIRC) at a $1 billion clip.
At that level, what he described was a seemingly limitless way of living. At that level, what he said you could buy was quite literally ACCESS to anything, or anyone. Super Bowl? No problem, let us know where you'd like to be seated. Concert happening in Milan this evening? Private jet to the venue and the best tickets in the house with one phone call.
The truly troublesome access, though, was political. If you disagreed with a proposed bill, before it became law, you could buy access to the legislators supporting it and dissuade them from moving forward. You could fund lobbyists to help remove laws that you didn't like, or that impacted you negatively. Meeting with the President? You have enough money to get a phone call within a few hours to discuss whatever is bothering you.
Rich people know what it's like to have money. Wealthy people, though... they know what it's like for nothing to be impossible. Whatever they seek can be had, with zero effort on their part. The wealthy person is the top of the duck, cool and collected on top of the water. The people in their employ are the duck's legs, kicking furiously to make that person's life an effortless one.
How it feels not having to check your balance before you check out at the grocery store just to be sure you don't go over.
The various tiers of wealth around the world, and how old some of it is. People think the Kardashians are rich. They aren't even in the same stratosphere as the Dreyfus, Getty, Mars, DuPont, Ambani, Wertheimer, Mars, or Walton families.
Trust me, here in the UK, we have wealthy families that literally made their first fortunes nearly a thousand years ago just by being allies of a certain French Guillaume le Batard. They still own about 30% of all privately owned land in the UK.
The VIP hotline number at the children's hospital when your kid needs urgent care but there's a big wait in the ER (but your kid isn't sicker than anybody else's kid in the ER), and you want get to the front of the line. Blew my mind when a very wealthy friend told me he did this for his child (friend's father was a huge donor to the hospital). More power to him, but there is the wealthy and then there is the **wealthy.**
You can opt to not be on those "wealthiest people" lists - for a price.
You can rent celebrities for your private events. Not just musicians, but bonafide actors & actresses.
Can I mush their faces together like when kids make their cats kiss?
The less help you need, the more you get.
That the phrase, "money can't buy happiness" isn't as ridiculous as it seems.
Nah money can buy happiness. Most stress is financial or relationships, and most relationship stress is financial. Speaking from LONG life and experience. Money definitely can buy it. BUT only money at the passive-income-six-figure level. Once you are no longer on the daily commute grind. You are then free to pursue your hobbies, interests, relationships, etc., without worrying about cost, time, etc.
That there’s no rules after a certain point
There are no laws at all, only fees. Parking is legal anywhere, just pay the fee. Speeding is legal, just pay the bill the officer gives you. You can even get away with murder and rape, you just pay the fines through your attorney.
Tax loopholes
Really big stink here in Australia about someone from one of the big accounting firms working with the federal government on some tax law change and then using their knowledge (despite an NDA) to advise their clients how to work around it
What it's like to have a mega yacht AND a support yacht.
Credit is a way to borrow money to make money. It will come due. The trick is to make more than enough to pay back that credit.
does the stock return more percentage than the credit card charges on interest? if the answer is yes, borrow from the card, invest in the stock, sell fast, pay back the card, keep the change. Yes, I've done this, yes it worked. Your mileage may vary. Do not try this at home. Not a financial advisor.
The phone numbers from people who could help you out of any (even bad) situation.
The difference between an equity country club and a membership country club.
Close them down. (a) they are elitist. (b) they use too much water in africa. (c). they use up land that was taken by colonialists. (d) they could be redistributed for low income housing projects. (e). bad for the environment with invasive european plants and too much water use.
Whether or not wealth makes one happy.
What they don’t know, if they’ve always been wealthy, is to what extent lack of money causes suffering, but the blade cuts both ways.
Wealth attempts to buy the very best feelings. Beluga caviar for example: rare (so we're told) and expensive but it's fish eggs. People who enjoy it love it but it won't fill you up and it's no match for a fantastic take-out with friends. Brut Champagne will make you giggly but if you're drinking it to drown your sorrows while lonely on your luxury yacht, then what's the point. Wealth is a state of mind.
What junk some supercars are. A viper is still a plastic-y creaky dodge. Lambos need service constantly.
Not forgetting Lotus - lovely cars, bloody quick BUT ; never forget that LOTUS stands for Lots Of Trouble Usually Serious. I have a cousin who will attest this. He now drives an Audi TT aka hairdressers car.
They often eat for free. Restaurants love the attention of having a celeb dine there so will often not charge.
An actor - not sure who so don’t want to get it wrong- said he always would pay by check because it would be kept for the signature and not cashed.
There's places through which you can buy books, just bulk books for interior decorating. Not intended to be read, just chosen for the aesthetics of the covers and bindings by professionals to look the best in the environment of your home/office.
How low their interest rate is when they borrow
The interest rate is a function of the risk. If you borrow a tiny fraction of your net wealth (for a new project or whatever) the risk is close to zero : you get the best interest rates, close to those of sovereign funds.
Not knowing what WIC, SNAP, Assisted Living, etc are, because for rich people those are ghost stories to them right?
Where all the pieces go on a fancy place-setting and what food/course they're used for.
That's why they have people like me - Ex high end Chef also a Restaurant Manager for many, many empty, wasted years helping rich idiots who didn't know what a bloody fish knife was !!!
Capital Gains Tax
Capital Gains Tax is not just for the rich. If you purchase shares or a second property in the UK you will subject to it. It gets even stranger if you are given stock options in a foreign company (as I was) as you pay some tax at the point of excercising the options and then again when you sell them. I've not had the luxury of buying or selling a second home.
This is reasonably accurate. Was not aware of the learjet thing but I don't have one (lol) so obviously ....
This just feels like it's written by a low class teenager that reads too much Anne Rice!
This is reasonably accurate. Was not aware of the learjet thing but I don't have one (lol) so obviously ....
This just feels like it's written by a low class teenager that reads too much Anne Rice!
