Today, I have a guest post featured on The Green Swan. Below is a snippet, but please click on over to read my post on stealth wealth.
How easy is it to identify a wealthy millionaire? Of course there are the ultra high net-worth people that stand out who drive flashy cars and fly on private jets. What amount of income is really considered “wealthy”? The IRS says that only 2% of American households make more than $250,000 a year.
I was born in the 80s, but honestly I don’t really remember those years very well. However, between movies like The Wolf of Wall Street, The Wedding Singer, and reruns of Miami Vice, I have a fairly “accurate” idea of how life was in that time.
In these movies, the 80s are portrayed as a time of excess. This is when Michael Douglas gave his “Greed is Good” speech, designer denim was in vogue, and showing off one’s wealth was in style. I mean think about it. One of the most popular shows was Lifestyles of the Rich and Famous with Robin Leach.
Today, it doesn’t seem as though the rich show off their wealth as extravagantly. If anything, I believe there is a greater emphasis on the wealthy giving back through charities and seeking to make a more altruistic impact in society.
I think stealth wealth is great and I will certainly subscribe to it in the future. I’m 24 years old and am in the top 5% for income and I’m currently trying to build my balance sheet to become more “Balance Sheet Affluent”. That being said, I’m not going to flaunt my wealth: I bought a Used 2014 Jetta for 13k, I don’t buy clothes (really ever), and I try to stay in my lane in conversations (don’t flaunt it to those less fortunate). If my friends knew just how well off I was, they probably wouldn’t be too happy.
Erik
Erik @ The Mastermind Within recently posted…Going Against the Grain – Borrowing Against 401(k)
Sounds like you are doing amazing Erik. You definitely have your finances in order and are truly living a stealth wealth lifestyle. I wish I was as discipline as you were at 24 as well as making top 5% income 🙂
Nice, I love this topic – going to check it out now.
Thanks for heading on over and sharing your thoughts 🙂
It seems like an interesting read! I checked out on The Green Swan but the site was hard to read. Looked like the CSS wasn’t properly aligned? Don’t know if I’m the only one, but will check back later to read the full article 🙂
I had the same issue but am looking forward to reading it!
I think some of the issues have now been resolved. Thanks for reading!!!
I think the issues have been cleaned up now. So hopefully that’s no longer a problem. Thanks for taking the time to read it 🙂