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.