Most rich people don't feel rich. In addition to investments, most are surrounded by people with similar wealth. A lot of money is spent maintaining appearances

Most rich people don't feel rich. In addition to investments, most are surrounded by people with similar wealth. A lot of money is spent maintaining appearances and doing things that other people expect, not because it is inherently more enjoyable. When all your friends live in mansions, have summer homes, and regularly take multiple extravagant vacations, you probably do too, and it doesn't feel like "spending it on yourself", it just feels normal and expected.