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I'm in a weird bubble, because I don't know anyone in my friend group who does this, despite most of my friends in their late 30s early 40s being successful tec
by VirusNewbie 2y ago
I'm in a weird bubble, because I don't know anyone in my friend group who does this, despite most of my friends in their late 30s early 40s being successful tech professionals.
Many have bought fancy houses (and some modest houses), a lot of them have nicer cars, but I literally don't know anyone who would fit the 'upper middle class' definition who spends money on high fashion, expensive watches, high end wine, etc.
The only people I know in my extended circle who buy that sort of thing either have many millions liquid from successful tech exits (as in, coudl retire) or inherited millions.
- throwaway2037 2y agoCan I ask a daring question? Are all of them men? What about their spouses? Do they still work and how do they spend their husband's money? One thing that I have noticed about the new rich: They might not buy Hermes bags (yet), but they overspend on everything -- groceries, dining, housing, cars, schools, vacations. It adds up fast, and their net worth is surprisingly small.
- VirusNewbie 2y ago> Are all of them men? What about their spouses? No. Many are, but I know some fairly successful tech women who worked at FAANGs and made great money as well. >but they overspend on everything -- groceries, dining, housing, cars, schools, vacations. Yes, I guess I was trying to say that in tech focused circle in SoCal, traditional status symbols take a back seat to upgraded houses, vacations, and dining. I don't know friends who buy themselves a rolex or fancy handbag if they get a huge bonus. They might treat themselves or friends to a high end dinner or a nice vacation instead.
- throwaway2037 2y agoI still think this is important anec-data. Thank you to share!