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/biz/ - Business & Finance

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694059 No.694059 [Reply] [Original]

If you were able to get to $1,000,000 net worth, would you tell anyone besides your wife (or gf)? Or are these the kind of secrets people hold forever.

>> No.694079

>>694059
One in 16 households in the U.S. are millionaires (7.1 million households), so while its a nice personal milestone, its hardly a "secret" that you take to your grave. Furthermore, if you yourself are a millionaire, its more likely that your friends, colleagues, and neighbors are also millionaires.

If you know someone's job and age, you can estimate pretty closely their net worth. This is especially true if you know where they live and have seen their house. Obviously exceptional cases exist, and you can never guess for certain someone else's investment strategy and success rate. But honestly it's not hard to separate the have's from the have not's with just a few basic life details..

That being said, civilized people do not discuss their net worth with others (except on anonymous image boards). Its rude, gauche, and socially inept.

>> No.694088

>>694079
> ... civilized people do not discuss their net worth with others (except on anonymous image boards). Its rude, gauche, and socially inept.

I think you mean to say that it's an artificially created stigma that preys on peoples' inability to control their emotions (like jealousy) in order to get away with huge wage / salary disparities without stirring people into revolt.

But yeah, sure.

>> No.694106

>>694088
Civilized behavior is simply shorthand for a set of conventional rules designed to facilitate the peace, harmony and growth of the society. So, yes, this includes reducing behaviors that unnecessarily engender jealousy or envy.

That you think it has anything to do with not "stirring people into revolt" is cute but pathetic. That redpill you swallowed was actually a placebo. You are still as dumb as you were before you took it.

>> No.694619

>>694059
I'll hit around 1m sometime later this year. Everyone knows I have money but no one asks how much and if they did I'd just demure. Honestly, who the fuck goes around saying shit like: "I HAVE ONE MILLIION DOLLARS" it only makes people feel bad or jealous, or makes you a target.

>> No.694648

I don't have near that much, but I have never shared how much I have. Not even my girlfriend knows. I feel kind of bad, because it's a lot more than she has (we're both grad students, but I'm much better at saving).

>> No.694702

>>694079
>>694088
>>694106
It's rude, but this isn't the primary reason to hide your wealth. Making your net worth known opens you up to a world of vultures who want to take all that you have. My uncle's dog attacked another one when it got out of the front gate of his yard. He fully paid for the best vet treatment for the other dog. The people sued him for over a million dollars for "emotional distress." They still lost because dogs are legally property in California and he resolved the property damage, but still, suing for over a million for a few injuries on your dog. People are fucking vicious. This is why rich people pay out the ass to attorneys and CPAs. who specialize in asset protection.

>> No.694711

>>694059
I'd tell my dad but not my mom. They are divorced and she is a cunt.

>> No.694717

once you tell people, it opens up feelings of, envy and hatred.

>> No.694718

>>694702
>Making your net worth known opens you up to a world of vultures who want to take all that you have.
Maybe if you have trash-tier family, friends, and neighbors. Generally speaking, decently well-off people don't try to take advantage of those more well-off than them. We're cut from the same cloth, after all.

>> No.694721

I was actually thinking about this today. I wouldn't see the need for this to come up in conversation. People ask me what I do and sometimes I'll mention some random occurrences like "yeah my gf won 30 bucks on a scratch off" or some shit like that.

I've had friends in the car while I ran by the ATM before and they saw my balance then but otherwise I really don't feel like it's something that would normally come up in conversation.

>> No.694739

>>694718

You can be sued by anyone.

>> No.694743

>>694739
Not if I don't interact with them. I have very little interaction with poor people. And I have insurance (auto, home) for the times they interact with me or my property.

>> No.694750

>>694739
I'm saying when people know you are rich they will go after you for trivial shit. My uncle got sued for something stupid because he has a really nice mansion and the people knew he was rich; they wanted to take what he had. A home owner's association sued my parents over who had to maintain a piece of land in between our property and the HOA properties. I'm saying you never know. Also, don't be so sure people relatively close to you aren't greedy psychopaths. It can happen to anyone.

>> No.694754

>>694750
meant for
>>694743

>> No.695547

>>694079
HOUSEHOLDS

>> No.695558

>>695547
>basement dwelling NEET detected
Your parent's are not happy to have you living with them, even if they lack the courage to tell you to your face. Get your own life, loser.

>> No.695586

>>694059
OK well, I do have over £1 million (that is excluding the value of the house where I live, but i don't live in a very big place).

I mentioned it on /biz/ once. Gave some good details of my investments etc- hardly any response. So much for all those "omg how do i get rich" threads.

In real life, nobody knows. I'm not married, but I have two girlfriends and they both know I have investments etc but neither knows how much. Likewise my family know I am reasonably well off but they don't know to what extent either. I wouldn't reveal anything to anyone else.

Something like 1-2% of all people are millionaires (although definitions vary), so as another anon said, it is not really a massive achievement. It is also not enough to fund a recklessly lavish lifestyle- I drive a small beaten-up car and I don't live a life of conspicuous consumption. I work for myself, as and when I want to.

>> No.696094

>>695586
How much do you spend on toys/personal items a month? (I mean how much of your disposable income do you spend on disposable items, not really sure how to phrase it.)

>> No.696102

>>694059

I tell no one. Ever.

>> No.696103

>>695586
>I have two girlfriends
Tell the story man

>> No.696105

>>695558
what the fuck are you talking about are you quoting the right post

A household networth of a million is absolutely not the same as an individual having a net worth of a million and is not nearly as impressive

Also OP, why would you EVER tell your net worth to a significant other?

>> No.696111

>>696105
>why would you EVER tell your net worth to a significant other?
Oh, I don't know, maybe because you love each other and share everything in life?

>> No.696203

>>696094
Not much. I have never been much of a materialist anyway (living way below my means is pretty much how I was able to put in enough cash for my initial investments). Also, I have learned my lesson about buying stuff that will just end up as being junk (which is pretty much any technology item), and now I have realised that doing things is more enjoyable than owning things (this is the "experientialism vs materialism" debate). So I spend a fair amount on travel, concerts, events etc, but almost nothing on clothes, for example. My one luxury is that I own a really nice guitar (a PRS).

>>696103
I spend a lot of time working in two different towns and somehow ended up with a girlfriend in each town. Eventually I'm going to have to pick between them but it's going to be tough.

>> No.696215

>>695586
>Something like 1-2% of all people are millionaires (although definitions vary), so as another anon said, it is not really a massive achievement.

True, true. My parents are probably technically millionaires, yet they didn't have the money to push me through med school. Had to drop out (grades not good enough for scholarship and... psssst... I didn't like it anyway), get work and study something else.

Having a million is very well possible if one is 50+yo. It's actually difficult to have less as an economically minded person. All you have to do is have ~34k$ added to your wealth every year for 30 years.

Now going above it is the tricky part. it's not what a common white collar employee will be able to pull off so easily.

My target is 1.2m€ at 48yo. And then whatever. Not easy, but possible.

>> No.696852

>>696111
>love
>asset disclosure decisions to a party that is entitled to half at any time of her choosing

You poor fool.
All your money should be an inheritance in trust for your children as they will always be your children.
Your wife can leave at any time and get dicked by another man who will happily spend your money.

>> No.697212
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697212

>>696203
> Paul Reed Smith
based

>> No.698117

>>696111
edgy

>> No.698161

>>694059
I would tell a few loyal family members who are outside my social circle.

I would tell my fiancé for legal reasons before she signs the prenup, I'd never marry a western woman anyway so I don't have much to worry about.

Obviously I would tell financial advisors, lawyers and accountants, people who do this for a living with lots of other rich people and are professionally obligated not to mess with me.

I would let my work colleagues and business associates know I have stacks but never disclose the exact amount.

>> No.698167

>>696111
>oh, I don't know
>maybe
>because
>you love each other
>and share everything in life

>> No.698263
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698263

>>694059
>>698167
>>696105
>>696102
Daily reminder that marriage is selling an option to a woman at no cost, with no expiry for 50% of your current and future net worth that can be exercised at the time of her choosing.

Hard decision?

At least invest in asset protection.

>> No.698304

>telling a woman you have money.

What?

Anyways, the only person I would tell is my brother.