29 Fun Bits Of Info That Can Only Be Known By The Very Rich, As Listed By People Online
One might believe material wealth to only be a means to an end, as opposed to certain things with an intrinsic value; however, whether one holds such a belief or not, it does not prevent riches from providing certain exceptional benefits, experiences, and opportunities. While possibly, on the flip side, preventing rich folks from empathizing with some non-rich people’s experiences. People online stepped up, trying to outline the specifics of one’s experience as a rich person, by answering one Redditor’s question: ”What is something only a wealthy person would know?”
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The more money you have, the more ways you have to make it grow. To the point that it increases faster the higher it is -- not just in absolute terms but also in percentage growth.
Everybody knows this regardless of wealth. In fact, the poor know it more than anybody, because they feel it!
Lenders will fall all over themselves to get rich people to take out loans, but good luck if you actually need money.
You wanna give me the six month course it takes to learn how to do that for free?
I wish I still had a link to it, but there was a lengthy post once by a guy that described what life was like for people at varying degrees of wealth -- $1 million to $10 million, $10 million to $100 million, and so on and so forth.
Until he reached the upper echelon, which started (IIRC) at a $1 billion clip.
At that level, what he described was a seemingly limitless way of living. At that level, what he said you could buy was quite literally ACCESS to anything, or anyone. Super Bowl? No problem, let us know where you'd like to be seated. Concert happening in Milan this evening? Private jet to the venue and the best tickets in the house with one phone call.
The truly troublesome access, though, was political. If you disagreed with a proposed bill, before it became law, you could buy access to the legislators supporting it and dissuade them from moving forward. You could fund lobbyists to help remove laws that you didn't like, or that impacted you negatively. Meeting with the President? You have enough money to get a phone call within a few hours to discuss whatever is bothering you.
Rich people know what it's like to have money. Wealthy people, though... they know what it's like for nothing to be impossible. Whatever they seek can be had, with zero effort on their part. The wealthy person is the top of the duck, cool and collected on top of the water. The people in their employ are the duck's legs, kicking furiously to make that person's life an effortless one.
And that is what is wrong with USA politics right there. The wants of the few rich outweigh the needs of the many.
Not only US politics, this is pretty universal unfortunately. Somewhere more visible, somewhere less.
Load More Replies...I remember this on here s month or so ago. And he compared it like this. If something cost $50,000 to him it was like 50 cents. Stuff like art that was 10 million was a little pricey like 10,000 so had to budget. $8,000 was like 8 cents.
It’s just hard to even imagine that amount of money equating to that in my mind.
Load More Replies...Here is the link to the post Op was trying to find (i think) https://www.reddit.com/r/AskReddit/comments/2s9u0s/comment/cnnmca8/?utm_medium=android_app&utm_source=share&context=3
Why that got dv'd I don't know. You just provided the link. Thanks, btw.
Load More Replies...Unfortunately there are a few things even money can't buy. Thinking of some wealthy friends who've had parents die, secret siblings, etc. etc. Money doesn't guarantee everything.
How much it costs to buy a U.S. Congressman or Senator.
Love the way americans say this casually but we in africa get a whole bunch of flak for being allegedly 'corrupt'
Its a screwy double standard. African corruption is subsidized by foreign expoliters. The old saying is that after “independence” the French governor simply changed his title and moved his office to a less auspicious room of the palace. We Americans can be proud that our crooked politicians have been bought and paid for with genuine US greenbacks, slipped to them by homegrown American billionaires. Abscam caught congressmen taking Saudi money, Hinter Biden’s phone log shows calls from Kiev and Beijing: outrage! But US corporations writing new laws and telling our legislators how to vote on them? That’s democracy on action!
Load More Replies...Arrests should be made for this! - The person making the purchase and 100% the senator or congressman!
How it feels not having to check your balance before you check out at the grocery store just to be sure you don't go over.
Check your balance, not write a check. And yes, people still write checks.
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The various tiers of wealth around the world, and how old some of it is. People think the Kardashians are rich. They aren't even in the same stratosphere as the Dreyfus, Getty, Mars, DuPont, Ambani, Wertheimer, Mars, or Walton families.
Trust me, here in the UK, we have wealthy families that literally made their first fortunes nearly a thousand years ago just by being allies of a certain French Guillaume le Batard. They still own about 30% of all privately owned land in the UK.
Please tell them to return our diamonds, thanks.
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The VIP hotline number at the children's hospital when your kid needs urgent care but there's a big wait in the ER (but your kid isn't sicker than anybody else's kid in the ER), and you want get to the front of the line. Blew my mind when a very wealthy friend told me he did this for his child (friend's father was a huge donor to the hospital). More power to him, but there is the wealthy and then there is the **wealthy.**
There are concierge doctors that, if you have the money, are on speed dial night or day. Imagine having a doctor you can call by his first name and who doesn’t act like as a$$hole just because you know about the medications you take and he doesn’t consider you a drug seeker. Oh and you can know about health problems without that condescending look while saying “you need to stay off Google, there’s nothing there that knows more than I do.”
I had a client who in a past job was the liaison for these very wealthy people at the hospital. The uber rich from Dubai would come in, have a whole cancer work up, use all of the latest medical equipment all in one 'check up' and pay $$$$ to get it done, and fly on a private jet back home.
So, their child's tummy ache is more important than my (probably) concussed skull? (It wasn't, just a hematoma, but the paramedics couldn't know that for sure).
i thought the very wealthy didn't have to go to hospitals, the concierge health service came to them.
How to fully use a hotel concierge service..
Ah yes 😂 fond memories in my early 20s of dropping of envelopes to certain concierge to deliver to rooms with exclusive guests - it was just weed 😆 but concierge can get you anything literally ANYTHING if you have money.
You can opt to not be on those "wealthiest people" lists - for a price.
The Barclay Twins. They own a British isle called Sark and are incredibly private/secretive. Also Lichtenstein - you'll rarely hear about it. Makes Swiss bank a/c holders look like people with money in a jam jar.
Please get your facts straight. They do not own Sark. Since 1993, they have owned a small island off Sark called Brecqhou.
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You can rent celebrities for your private events. Not just musicians, but bonafide actors & actresses.
Can I mush their faces together like when kids make their cats kiss?
But what do you do with them. I understand a musician, singer or even a comedian but what does an actor or celebrity bring to the party?
Their skills. Their job. You give them a role to play and they'll play it.
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The less help you need, the more you get.
That the phrase, "money can't buy happiness" isn't as ridiculous as it seems.
Nah money can buy happiness. Most stress is financial or relationships, and most relationship stress is financial. Speaking from LONG life and experience. Money definitely can buy it. BUT only money at the passive-income-six-figure level. Once you are no longer on the daily commute grind. You are then free to pursue your hobbies, interests, relationships, etc., without worrying about cost, time, etc.
It won't outright buy it, but will remove a lot of barriers to you pursuing your own vision of happiness.
Load More Replies...I perfectly understand this because what many people do not understand is... Happiness is relative. So when someone tells you that their true definition of happiness is building a family, even if they make fortunes a day, that money will NEVER by their happiness. The only problem most people have is they truly cannot differentiate if they need money to be happy, or to just pay off your bills. You need money, okay, to do what?. When you pay off those bills with money, and you buy the luxury cars and stuff, what are you left with? What keeps you going? You've made the money, now what?. The problem really isn't money. Money is just something exchanged for value. The problem is "what is your definition of happiness?"
You can buy freedom from the constraints of everyday life with money. But not from the question of what constitutes a meaningful life.
Load More Replies...You'll never see me jumping out of a window when the markets crash though
In poverty, you get unhappiness and are forced to pay high prices for it.
Not necessarily. Depends on what's important to you for happiness. It's different for everyone. You can't make blankets statements about any group of people, in any context.
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That there’s no rules after a certain point
There are no laws at all, only fees. Parking is legal anywhere, just pay the fee. Speeding is legal, just pay the bill the officer gives you. You can even get away with murder and rape, you just pay the fines through your attorney.
There should be, though. Don't you know who I am , total bs. You broke the law, you should have to deal with the consequences of your actions/ choices.
They do, the point is because you are rich the consequences do not hurt. Example if I speed in my country and go over the limit 10kmh, it costs ZAR 250 or about $12.50. Not a lot. To a poor person, that is like a week's groceries. To me it is a day's takeout. It's literally 5x less pain for me. So I do not have to really care about traffic laws. The worst fine is I think crossing a stop improperly (red light or sign). I think that's ZAR 400, or $20. Woopdedoo. It's just an invoice.
Load More Replies...That’s obviously not true in many countries - maybe not the US or the UK.
Selling your time for money won't make you wealthy
There is not a single billionaire who has made their riches by being smart, innovative, determined, or any other admirable adjective. You become a billionaire by exploiting other people. End of.
I don't know about "not any." I don't know every billionaire story. Maybe there's one?
Load More Replies...in short, being in paid employment won't make you wealthy. Not entirely true. Depends on your salary, and whether you have surplus, and whether you invest that surprlus.
Unemployment here has a cap. No one is getting rich off of it.
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Tax loopholes
Really big stink here in Australia about someone from one of the big accounting firms working with the federal government on some tax law change and then using their knowledge (despite an NDA) to advise their clients how to work around it
Yet, giving the common person those same loopholes. You would think that the world would have ended.
What it's like to have a mega yacht AND a support yacht.
Insurance Classification usually defines;, Super Yacht is 36-38 Meters (though some European Classifications have as small as 24 Meters long) to 60-65 Meters. Mega Yacht is 60-65 meters Meters to 90-95 meters. Gigyachts are anything over 90-95 meters long. Support yachts tend to be for Giga Yachts, usually sailing ones (because they do not have helo pads), though sometimes for yachts that prefer to have all the "toy" (aka launch boats, jet skis, landing craft, etc) off the main boat, because they want it more elegant. As far as I can the only mega yachts with support yachts are the sailing ones with electric motor backups (the so-called enviromentally friendly boats), and a few giga yachts. But most do not have support yachts
On Sesame Street everyone could count. (Thanks to The Count.)
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Credit is a way to borrow money to make money. It will come due. The trick is to make more than enough to pay back that credit.
does the stock return more percentage than the credit card charges on interest? if the answer is yes, borrow from the card, invest in the stock, sell fast, pay back the card, keep the change. Yes, I've done this, yes it worked. Your mileage may vary. Do not try this at home. Not a financial advisor.
The s***tier the daily-wear, the more the net-worth.
not exactly. In africa we have a strong tendency to flaunt clothing even if poor. Google african sapeurism.
The amount of young people I've seen buying fancy looking or actual designer clothes on credit is insane....
Load More Replies...I think this applies to certain situations. Like important business meetings, all regular employees would be wearing a suit etc. In rolls the boss or the chairperson dressed in blue jeans and a t-shirt just because they can....
The phone numbers from people who could help you out of any (even bad) situation.
The difference between an equity country club and a membership country club.
Close them down. (a) they are elitist. (b) they use too much water in africa. (c). they use up land that was taken by colonialists. (d) they could be redistributed for low income housing projects. (e). bad for the environment with invasive european plants and too much water use.
no idea why you got voted down, it's totally true.
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Whether or not wealth makes one happy.
What they don’t know, if they’ve always been wealthy, is to what extent lack of money causes suffering, but the blade cuts both ways.
Wealth attempts to buy the very best feelings. Beluga caviar for example: rare (so we're told) and expensive but it's fish eggs. People who enjoy it love it but it won't fill you up and it's no match for a fantastic take-out with friends. Brut Champagne will make you giggly but if you're drinking it to drown your sorrows while lonely on your luxury yacht, then what's the point. Wealth is a state of mind.
not exactly. As I said earlier, most stress is about money even in relationships. Once you reach a level that money isn't an issue (I have this), you are quite happy. I can do whatever I want, basically, except fly in a rocket and ride a yacht, not that rich. But rich enough to cover the costs of two households and do some traveling, have a new midrange car, etc. Caviar is a stereotype, I'd never waste money on nonsense like that. Just a big mac like a normal person. The only things that are stressful are the threats of losing it. My aim then is to get to the security point where I do not have to worry about that either. So yes, money can buy happiness.
Load More Replies...You can tell a billionaire's having a bad day when he says sadly: "I feel like a million dollars!"
What junk some supercars are. A viper is still a plastic-y creaky dodge. Lambos need service constantly.
Not forgetting Lotus - lovely cars, bloody quick BUT ; never forget that LOTUS stands for Lots Of Trouble Usually Serious. I have a cousin who will attest this. He now drives an Audi TT aka hairdressers car.
I agree with the Viper. It is made to a budget. Lambos require servicing because they are at the extreme of performance and engineered to very tight tolerances to achieve it. If the are not properly maintained, it can result in a brief but very expensive explosion. The same is true of any performance car. TBH they do very little for me. I'd rather have something with less performance but that is more fun to drive.
Rolls-Royces are quiet and pretty, but cost oodles to maintain. No fun unless you like to be wasteful. Stick with Ford for dependability.
Did get to drive one of these once when I was really young and yes, they are not all that great, depends on brand. Still prefer a Jaguar over anything.
They may be the ugliest, especially since BMW started making them, but there are a lot of shittier cars out there. When was the last time you drove a Rolls Royce?
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They often eat for free. Restaurants love the attention of having a celeb dine there so will often not charge.
An actor - not sure who so don’t want to get it wrong- said he always would pay by check because it would be kept for the signature and not cashed.
Picasso would only pay by check and would doodle something on every single one.
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Private jets come with different size luggage compartments.
Or a separate luggage jet for that matter
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There's places through which you can buy books, just bulk books for interior decorating. Not intended to be read, just chosen for the aesthetics of the covers and bindings by professionals to look the best in the environment of your home/office.
Books are for reading! Coffee table books ( I do not know if there is a word for this in other languages, please enlighten me Pandas ) about fine arts, fashion, cinema, history, music.. are conversation pieces. If you really love an author, it is great if you can get full set of their work.
I can't imagine owning a book and never reading it, how utterly pointless.
No thanks. I want books that I love and have read and mean something to me.
How low their interest rate is when they borrow
The interest rate is a function of the risk. If you borrow a tiny fraction of your net wealth (for a new project or whatever) the risk is close to zero : you get the best interest rates, close to those of sovereign funds.
they do borrow if the money is tied up elsewhere, $100 earning 10% interest, if you need $100 today, you can borrow $100 from the bank provided bank charges you less than 10% interest, since you are rich, bank may even charge you 2% cause the risk is 0% that you won't pay it back. you still earn 8% (10-2%)..... instead if earning 0%.
Load More Replies...In my country the interest rate is determined by the central bank. Your bank can offer you a rate higher than that but not lower. Generally they are 3% higher. If you "fix" your rate you agree to pay a fixed percentage for a certain time. They'll quote you on the monthly amounts and the rate. The longer you want to "fix", the higher the rate they will charge. The going rate and the fixed rate will typically be different, with "going" rate being 0.5-1% higher. So generally we watch out for warnings that the central bank is raising the rates, and we fix when we see that warning.
works like that everywhere, except in my country the bank can go lower if you are a good client and they want to... quoted as Prime minus 1% or minus 2%...
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Not knowing what WIC, SNAP, Assisted Living, etc are, because for rich people those are ghost stories to them right?
To be fair, I don't know what WIC or SNAP are either, because we almost certainly used different terms here. I can take a guess at Assisted Living.
They are both assistance programs for food. WIC is Women Infants and Children, it covers certain grocery staples for pregnant women and children under 5. SNAP is Supplemental Nutrition Assistance Program, it is administered by each state so the details are slightly different depending where in the US you are, but again it provides some money to help purchase food.
Load More Replies...Rich people know what these things are. They pay for politicians to try to eliminate these benefits.
The password to those Eyes Wide Shut parties
Where all the pieces go on a fancy place-setting and what food/course they're used for.
That's why they have people like me - Ex high end Chef also a Restaurant Manager for many, many empty, wasted years helping rich idiots who didn't know what a bloody fish knife was !!!
Basically, knowing your forks. Remember, outside first, then work your way in. If you’re not sure, watch other people and use the utensil, dish, glass, etc they use. Also, don’t gobble huge forkfuls of food. Dainty bites. Don’t butter a whole piece of bread, tear off enough for one bite, butter it, and eat it right away. Be sure you are a good conversationalist. If you’re still hungry from the dainty bites after you leave, go get a burger and fries and gobble them to your heart’s content. Not wealthy. Raised middle class. Though my mother was set to be a debutante before her father lost all,his money during the Great Depression (I’m 62, my mother was born in 1920, and I was her fifth and last child when she turned 40).
If I go by the pictures I have seen of food portions served at expensive restaurants, I am definitely going to need that burger and fries.
Load More Replies...Uh... That's something you can learn easily, how is that a rich people thing ?
rich people attend formal events all the time, you can learn it, but you aren't going to eat noodles/ ramen with 8 utensils ....
Load More Replies...this is actually true why do they know everything about fancy food? i can barely make toast without burning it
Nah anyone in middle class upwards here is taught that british colonial stuff. But we don't really use it unless we want to impress a colonialist. (African here).
if you were rich you would be attending this gala dinners everyday
Load More Replies...Well, I know those things but only because my mum was a pretentious, keeping-up-with-the-Joneses middle class type. God forbid we embarrass ourselves by not knowing which side our bread plate went on, or which glass was for which wine (outwardly highly respectable, at home cold and violent).
Capital Gains Tax
Capital Gains Tax is not just for the rich. If you purchase shares or a second property in the UK you will subject to it. It gets even stranger if you are given stock options in a foreign company (as I was) as you pay some tax at the point of excercising the options and then again when you sell them. I've not had the luxury of buying or selling a second home.
People with the money to purchase shares or a second property or are awarded stock options are rich people to the rest of us.
Load More Replies...CGT is standard in my country on anything that is an asset sold (specifically houses and financial instruments). It's only 25% so you get over it. And I think the threshold is something like $25000 or so... so anything below that you don't have to. Meaning most people in middle classes here or above will have to deal with it. Inheritance, etc.
This is reasonably accurate. Was not aware of the learjet thing but I don't have one (lol) so obviously ....
This just feels like it's written by a low class teenager that reads too much Anne Rice!
This is reasonably accurate. Was not aware of the learjet thing but I don't have one (lol) so obviously ....
This just feels like it's written by a low class teenager that reads too much Anne Rice!
