Living rich

Dec 6, 2019 61 Comments

To the rich people of blind, when you first became somewhat rich/crossed the middle class boundary, what were the first few lifestyle changes you made ?

Lets say your total annual becomes 500k+, or 1m+, or even more, and you already have a house, car, 401k, and some stock investments covered, where did you start spending your money to improve your living ?

Coming from a very poor background, I still think about wasteful spending and live somewhat frugal life. After purchasing a house, a good enough car, and a good investment and retirement portfolio and child college plans, what are some focus area on spending ?

I do not like to spend on things that are only for showing off or status symbols. Designer clothes or luxury cars or type of luxury things that do not have any real benefit/features but expensive just for the sake of belonging to rich people club, those do not impress me at all. However i am looking for things that could improve my life, health or family or provide better convenience or entertainment. Partying or drinking is not my interest either.

So far I have tried spending in good quality food, grocery, hobbies, gadgets and electronics, helping out poor family members/relatives, donating to charities etc.

What has been your transition like ?

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TOP 61 Comments
  • E*Trade / Finance cbEV72
    You want to live like a fucking pig, just eat and fuck.

    Get some life, do stupid human shit, like 🍹 or buy Gucci t shirt. That’s what humans do. Animals don’t do this. The rich don’t obsess about tomorrow, they live today.
    Dec 6, 2019 15
    • E*Trade / Finance cbEV72
      Why is he accusing me of being humble? I’m offended deeply
      Dec 7, 2019
    • He finds your input very valuable and insightful on how a poor person might live their life.
      Dec 7, 2019
  • Deloitte / Product
    V.Y

    Deloitte Product

    BIO
    Hi There! How can I help?
    V.Ymore
    "A house, a good car, a good investment a retirement portfolio, child college plans.."

    You won't have anything left even if you had 1m to spend on those.
    Dec 6, 2019 4
    • AT&T MsdR32
      Na man, like 200-300k is fine for that. More means either FIRE or gambling
      Dec 7, 2019
    • Microsoft 420Amazon
      cbEV72, lawdoo nikal yaha se
      Dec 7, 2019
  • Get a nice pair of speakers, listen to your favorite songs and hear things you never heard before
    Dec 6, 2019 8
    • Microsoft horizontal
      OP
      Yes my priorities are more towards gaming and movies. Normally the enhancements made by receivers to play stereo music on 7.2 channel surround systems sound pretty great. Although they are post processing of stereo original content. And if you wish you could play them in their original form with only 2 speakers or play in stereo all mode.

      I agree with you though if I spent my entire budget on just 2 speakers I could get better quality speakers. But the quality does not scale linearly with price after some point. You will only get minor improvements by spending a lot per speaker.
      Dec 7, 2019
    • Google / Eng ABC-CEO
      Spend $1k on gold speaker wires, it'll sound even better
      Dec 13, 2019
  • Google Marsian
    We have a cook/housekeeper who cooks, does laundry, moping etc and comes every other other day. Having help has improved our quality of life significantly. If I could afford a full time and high quality nanny, I’d invest in getting one.

    Flying parents business class is another way.

    Vacations to Africa, Iceland etc are another.
    Dec 6, 2019 2
    • Microsoft horizontal
      OP
      Thanks !!
      Dec 6, 2019
    • UWorld eyiK84
      How much do you the housekeeper?
      And are you in bay area?
      Dec 6, 2019
  • Samsung fizzwiz
    If you shop in a grocery store in California, pay for your grocery bags, even if you already own one. Next time you go to McDonald’s, tell them to supersize it and buy extra McNugget sauces. Buy the thick toilet paper. Get the Gold car wash. Reserve movie seats. Eat the creme filling and then throw away the Oreo.
    Dec 6, 2019 0
  • Walmart whisp3r
    Expensive: A nanny for babies. It’s a huge piece of mind and the good ones are people you genuinely admire. I am sure my kid’s nanny helped make him a better person in ways his dumb parents could not.

    Less expense/more selfish: pay through the nose ($500-1000) for great concert tickets. Fantastic seats at musicals or concerts create a different experience. They are not *worth it* in any sense, but it is a great luxury good.

    Semi-sensible: buy a really good mattress, sheets, pillows and bath towels. Replace the linens every two years or less. You use this stuff daily, so you enjoy the goodness that paying 2-3X brings.
    Dec 6, 2019 1
    • Microsoft horizontal
      OP
      Lots of good advices buddy. Yes getting a nanny soon, and already spent some on good mattress, sheets and furnitures etc.

      Concerts I haven't done much but always wanted. This is definitely worth it.

      I agree with you on spending on quality goods that you use a lot.
      Dec 6, 2019
  • Travel business class on long haul flights
    Dec 6, 2019 4
    • AT&T MsdR32
      Churning lol, way cheaper.
      Dec 7, 2019
    • Google / Mgmt Huhf13
      Yeah, I fly my family first class to vacations and such
      Dec 7, 2019
  • TI / Product ucc
    Spend money on things that save you time. Nothing as valuable or in as short supply as time. For example: hiring ppl to do the yardwork or clean the house. Plus, at $1M net worth its not like crazy balling anyway — that is a good spot to invest in real estate or elsewhere and get your money to work for you!
    Dec 6, 2019 1
    • Microsoft horizontal
      OP
      Yea I already have yard work person. I can hire a cleaner though, would definitely save some time.
      Dec 6, 2019
  • Amazon KBFC30
    I'm from middle-lower background, so I know how to be frugal. So heres some serious advice from me, my networth is past 1M: max out 401k every year, max your traditional Roth IRA backdoor into roth IRA. If you duno what that means, talk to an advisor. Rest of your money, save up down payment for a condo if ur single, or a house if married. Rest of money, put it in stock market, then cash out when you have enough down payment for another condo. Buy a new condo every 3-5yrs if you can, rent out the old ones you had. By the time ur 50 you'll have lots of condos, lots of passive income. Just live on collecting rent every month. Then, you can travel the world do whatever you want, buy a yacht whatever. Living on passive income is where its at
    Dec 6, 2019 3
    • Intel / Eng
      KingBlah

      Intel Eng

      BIO
      logic design Engineer. other interests photography, travelling, hiking, exotic food, tech. travelled 30+ countries and 7 continents.
      KingBlahmore
      Dont wait till 50 to enjoy life. Life is better enjoyed young.
      Dec 7, 2019
    • Lyft xft
      This. You can travel three or four times a year on 5 to 10k, won't make a difference
      Dec 8, 2019
  • Workday eKca52
    Hire help (cooking, cleaning, yard, nanny). Work on your health, get personal gym trainer and nutritionist. Enjoy food experience from great chefs and try fancy date night dinners at least once a month. Private school education to kids. Good summer camps/ extra activity classes for kids. If kids are young then membership to great America, museums and libraries. Of course use express lane on free ways. Comfortable mattress, sheets, furniture. Get solar for your home. Massages and spa to relax your body. Travel like a king with 5 star resorts stay and business class experience. Condo purchase in SF.
    Dec 6, 2019 3
    • Microsoft horizontal
      OP
      Of course. Looks of my clothes are important. I am just not going to pay more just for a label. If it looks better than cheaper alternative or provides more comfort, better fit/material etc, then will definitely pay more for it.

      Thanks for all the advices on hiring help, gym trainer etc. My kid is very young so currently hiring nanny is the only thing applicable.
      Dec 7, 2019
    • Microsoft horizontal
      OP
      Regarding private school I have not done all the research yet for my area, but is that for better education only or for the "rich people club" thing ? If private school can provide my kid with better education and better chance of building a career, then that sounds a solid investment, but if the curriculum and facilities are similar in public school and it is in an area where they have good ratings and generally have good performing students, then it seems the exorbitant cost of private school is not worth it.
      Dec 7, 2019

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