5 ms·

Sometimes the question is really asking something else. In this case, it might seem to be "what trick can I use that ultra-wealthy use?" or "how can I be prosp

by m463 1y ago

Sometimes the question is really asking something else. In this case, it might seem to be "what trick can I use that ultra-wealthy use?" or "how can I be prosperous on a budnget" but it really is "what is it like to be rich?"

y7 1y ago
Also, "extremely rich" is like "extremely successful in life" to a lot of people. But for the latter, emotional connections are also important.
IshKebab 1y ago
Yeah but I really wanted to know what rich people buy that I don't know about. The top answer - while vaguely interesting - didn't actually tell me anything I didn't already know. I think the conclusion is probably that they don't buy anything we don't know about.
- tinco 1y ago
  One thing I didn't quite realize is that they accidentally spend significant amounts of money. At a party I talked to someone who was like a financial coach for super wealthy people and he helps them clean up their shit. The way we might accidentally have a running $50/mo subscription for something we don't use any longer, they might have a $500/mo club membership they never go to. Or prebooked vacation rentals they don't visit, or maintenance on cars they don't use, etc.
  - hgomersall 1y ago
    This is it really. Being wealthy is the ability to live financially inefficiently without concern. That is very liberating.
    - arizen 1y ago
      They are optimizing for the scarce resource - which is time, since they got money in abundance.
  - em500 1y ago
    If you're over 100m net worth and get 5% returns, you get over 400k/month income on capital. At that point it might not be worth your time and attention to save $50 or even $500/mo if it takes any effort.
    - pc86 1y ago
      Exactly, to use the same math from the linked comment, it's less like comparing $500/mo and $50/mo and more like comparing $500/mo for the high net worth folks to $0.05/mo for someone making a more average salary. You could have a single part-time minimum wage job and you're not going to waste your time worrying about $0.05/mo. 60¢ a year? Please.
    - mixmastamyk 1y ago
      Or you could pay an advisor a thousand to clean that up. Then donate excess to charity and get a tax break. Win win.
- jajko 1y ago
  That's easy - experiences. This is what many rich pay their last dime for. You can get much better experiences than they pay for, for much much much less. Going for an exotic tropical beach location? Well they normally stay in sterile 5* bubble which is boring beyond belief and very unauthentic. You can go ie to Seychelles or Bali, live with locals in cheapish airbnbs, swim on same beaches or go to same restaurants they do, if you want, or even better eat with locals too. You can dive on same spots, kite surf on same spots etc. You will remember such vacation much more than they will do. Or another typical one - skiing holidays. You can go ie to Verbier or Chamonix and ski next to kings, princes or industry moguls on same slopes they do, use same lifts, but you can ie go of piste for some extra fun. Sure afterwards you can only go to public spa but that may be better equipped than their private one. Or you can paraglide over them (on your own, not with paid instructor). And so on and on... I know you can outmatch them only on specific aspects of those experiences, but that part is rather easy. Rich play their game of life in general very safely, so you can have way cooler things if you take some risks, and invest time into learning how to get best out of travels and adventures. Rich generally pay others to figure these out for them, and then of course such service is not well tailored to specific personality and expectations as much.
  - decimalenough 1y ago
    I lived in Southeast Asia for years and explored countless beaches at price points all across the spectrum, and while I understand what you're saying and agree to some extent, there are still experiences only money can buy. Example 1: the overwater bungalow in the Maldives where I could watch fish swim under a glass table and step right off the balcony into the reef to join them. Example 2: the stupidly expensive hotel in Laos where my wife and I were the only guests one night, so we got to enjoy a tropical sunset at our private pool bar with our private orchestra playing just for us. (The GM, who dropped by for a chat, told us a honeymooning couple last year had dropped six figures to buy out the place to do the same.)
    - jajko 1y ago
      Not really, ie that Maldives bungalow - I had exactly same experience in Mabul island for example, with 0 snobbishness that luxury inevitably brings (and is disgusting for me personally). Literally watching manta rays under my feet while eating breakfast. Kids would come on their dhingy and sell fresh coconuts right from water. All for peanuts. Very similar experiences can be had in ie Togian islands in Sulawesi. And I could go on. Not everything is yet spoiled for rich. As said its not full end-to-end experience, ie getting there in economy flight class instead of direct private jet is... well different, but the gist of adventure and reason why actually travel there can be easily matched, or surpassed. While leaving much more intense trail of memories and experiences with locals, which is what you are left with at the end. Instead of having everything served on plate like a clueless baby, you discover and 'fight' for your own adventures. And while paying 1-10% of price rich living next door paid. Coming back from such vacation makes it feel like it lasted massively longer. 2 weeks feel like a month at least, 3 like few months. 3 months in India & Nepal spent in such way felt, and I am not joking, like decades spent traveling. A very surreal and profoundly enjoyable feeling, when memories of life back home feels like memories from previous life before one reincarnated.
hamstergene 1y ago
I think the question was pretty clearly worded: > Title: What do insanely wealthy people buy, that ordinary people know nothing about? > Text: I was just spending a second thinking of what insanely wealthy people buy, that the not insanely wealthy people aren't familiar with (as in they don't even know it's for sale)? The comment just plain and straight doesn't answer the question being asked. It's kinda amazing how much more it is upvoted than comments with relevant answers. Maybe because emotions from dreaming of what it's like being rich (that's what it actually goes about) are so strong, the interpretation of the question is getting bent towards experiencing them.
moralestapia 1y ago
Sometimes the question is really asking what is asking ...

by m463 1y ago

y7 1y ago

Also, "extremely rich" is like "extremely successful in life" to a lot of people. But for the latter, emotional connections are also important.

IshKebab 1y ago

Yeah but I really wanted to know what rich people buy that I don't know about. The top answer - while vaguely interesting - didn't actually tell me anything I didn't already know. I think the conclusion is probably that they don't buy anything we don't know about.

tinco 1y ago
One thing I didn't quite realize is that they accidentally spend significant amounts of money. At a party I talked to someone who was like a financial coach for super wealthy people and he helps them clean up their shit. The way we might accidentally have a running $50/mo subscription for something we don't use any longer, they might have a $500/mo club membership they never go to. Or prebooked vacation rentals they don't visit, or maintenance on cars they don't use, etc.
- hgomersall 1y ago
  This is it really. Being wealthy is the ability to live financially inefficiently without concern. That is very liberating.
  - arizen 1y ago
    They are optimizing for the scarce resource - which is time, since they got money in abundance.
- em500 1y ago
  If you're over 100m net worth and get 5% returns, you get over 400k/month income on capital. At that point it might not be worth your time and attention to save $50 or even $500/mo if it takes any effort.
  - pc86 1y ago
    Exactly, to use the same math from the linked comment, it's less like comparing $500/mo and $50/mo and more like comparing $500/mo for the high net worth folks to $0.05/mo for someone making a more average salary. You could have a single part-time minimum wage job and you're not going to waste your time worrying about $0.05/mo. 60¢ a year? Please.
  - mixmastamyk 1y ago
    Or you could pay an advisor a thousand to clean that up. Then donate excess to charity and get a tax break. Win win.
jajko 1y ago
That's easy - experiences. This is what many rich pay their last dime for. You can get much better experiences than they pay for, for much much much less. Going for an exotic tropical beach location? Well they normally stay in sterile 5* bubble which is boring beyond belief and very unauthentic. You can go ie to Seychelles or Bali, live with locals in cheapish airbnbs, swim on same beaches or go to same restaurants they do, if you want, or even better eat with locals too. You can dive on same spots, kite surf on same spots etc. You will remember such vacation much more than they will do. Or another typical one - skiing holidays. You can go ie to Verbier or Chamonix and ski next to kings, princes or industry moguls on same slopes they do, use same lifts, but you can ie go of piste for some extra fun. Sure afterwards you can only go to public spa but that may be better equipped than their private one. Or you can paraglide over them (on your own, not with paid instructor). And so on and on... I know you can outmatch them only on specific aspects of those experiences, but that part is rather easy. Rich play their game of life in general very safely, so you can have way cooler things if you take some risks, and invest time into learning how to get best out of travels and adventures. Rich generally pay others to figure these out for them, and then of course such service is not well tailored to specific personality and expectations as much.
- decimalenough 1y ago
  I lived in Southeast Asia for years and explored countless beaches at price points all across the spectrum, and while I understand what you're saying and agree to some extent, there are still experiences only money can buy. Example 1: the overwater bungalow in the Maldives where I could watch fish swim under a glass table and step right off the balcony into the reef to join them. Example 2: the stupidly expensive hotel in Laos where my wife and I were the only guests one night, so we got to enjoy a tropical sunset at our private pool bar with our private orchestra playing just for us. (The GM, who dropped by for a chat, told us a honeymooning couple last year had dropped six figures to buy out the place to do the same.)
  - jajko 1y ago
    Not really, ie that Maldives bungalow - I had exactly same experience in Mabul island for example, with 0 snobbishness that luxury inevitably brings (and is disgusting for me personally). Literally watching manta rays under my feet while eating breakfast. Kids would come on their dhingy and sell fresh coconuts right from water. All for peanuts. Very similar experiences can be had in ie Togian islands in Sulawesi. And I could go on. Not everything is yet spoiled for rich. As said its not full end-to-end experience, ie getting there in economy flight class instead of direct private jet is... well different, but the gist of adventure and reason why actually travel there can be easily matched, or surpassed. While leaving much more intense trail of memories and experiences with locals, which is what you are left with at the end. Instead of having everything served on plate like a clueless baby, you discover and 'fight' for your own adventures. And while paying 1-10% of price rich living next door paid. Coming back from such vacation makes it feel like it lasted massively longer. 2 weeks feel like a month at least, 3 like few months. 3 months in India & Nepal spent in such way felt, and I am not joking, like decades spent traveling. A very surreal and profoundly enjoyable feeling, when memories of life back home feels like memories from previous life before one reincarnated.

hamstergene 1y ago

I think the question was pretty clearly worded: > Title: What do insanely wealthy people buy, that ordinary people know nothing about? > Text: I was just spending a second thinking of what insanely wealthy people buy, that the not insanely wealthy people aren't familiar with (as in they don't even know it's for sale)? The comment just plain and straight doesn't answer the question being asked. It's kinda amazing how much more it is upvoted than comments with relevant answers. Maybe because emotions from dreaming of what it's like being rich (that's what it actually goes about) are so strong, the interpretation of the question is getting bent towards experiencing them.

moralestapia 1y ago

Sometimes the question is really asking what is asking ...