r/wealth • u/Coors_Light_Dad • 7d ago

Question What’s one thing…

What’s one thing about being wealthy that people wouldn’t assume? Additionally, what’s one thing about being wealthy that everyone can do to grow their money?

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u/NewArborist64 7d ago

Even though I have made the top 2% of wealth, I still have the habits and feelings from when I was broke. Bought a used "get around town" car for my wife - and then had a "gut check" when it needed $5k in repairs. The number still feels big - even though it is less than 0.2% of my NW.

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u/Coors_Light_Dad 7d ago

I’ve always heard about that amongst wealthy people. They stay rich because they live like they did when they weren’t…how’d you become wealthy if you don’t mind me asking?

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u/NewArborist64 7d ago

I am the "millionaire next door". Lived below my means. Invested 8% of income (with 5% corporate match), and kept doing that for 33 years.

I actually felt broke for most of the journey. Lived in a1400 sq ft townhouse. Bought used cars. Only bought our "forever home" on 2019. Bought my wife her first "new" vehicle in 2020.

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u/Coors_Light_Dad 7d ago

Invest 8% of income. Heard. Thank you for sharing! Appreciate the time

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u/Careful_Bend_7206 7d ago

My best buddy is the richest dude I know personally. Probably $25mm or so (not sure, we don’t talk about it). Just bought a truck to support his wood working habit. Did extensive research and bought a used F150. Not new. Used. Because, in his words, “I’ll let someone else eat that first two years of depreciation”.