Mindset: "Quiet Wealth". A thing of the past?

[Crumbs2Bricks]

Hey folks. Just curious. I see a lot of EXOTICS in peoples profile pics and it seems like that's a big thing on this forum. I get that. There are a lot of young guys on this forum.

Is that old fashioned. I've had the pleasure of working with a lot of very wealthy people,I'm talking hundreds of millions on up, in net worth. Many of them are vastly different that what "outsiders" think. They are a low key bunch. They drove nice cars but they were not EXOTICS. When I say nice, I mean Volvo, Yukon Denali, current model Subaru,etc..........nice meaning, they were driving current model, clean, well maintained cars. I don't recall seeing an EXOTIC unless the children were driving it, paid for with the parents money.

This group of people were humble and had classic tastes in clothes and modern tastes in home furnishings.
I like that style. It's low key and you don't attract "groupies". After spending time around these people for over 2 years, 2 things that I noticed: They never talked about money 2) They never talked about what they did.

They way I slowly learned about them was--- they were a client of the Firm in which I worked, I was invited to a party with them or I read about them in the business related newspapers.



Does anyone subscribe to the quietly wealthy? Meaning, living a low key lifestyle, without the "flash"?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[PatrickP]

I am not so sure this is the best 3rd post if the goal is to get along with the members here.

 

[karmazon]

As MJ wrote in TMF :

"The Lamborghini icon represents the fulfillment of a prophecy in my life. It innocently
started when I saw my first Lamborghini and it kicked my a$$ out of my comfort zone. I
confronted its young owner and asked a simple question: “How can you afford such an
awesome car?â€

An exotic car might simply serve as an inspiration to become wealthy, but it doesn't mean those people will spend money on flashy things once they achieve their wealth. You can be inspired by "quiet wealth".

 

[Leoto]

I'd rather focus on getting into the fastlane first, AND THEN worry about whether I want to be quiet or flashy about it.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[The-J]

"There are currently 7 users browsing this thread. (3 members and 4 guests)

The-J,
Leoto,
MJ DeMarco"

Methinks MJ is writing a post about how he sold his Lambo a few months back.

Toys are fleeting. They are ego-strokers. I'm a kid. I wanna play with a Lambo. I wanna show it off to my high school and college buddies. I wanna stare at it in my garage and pat myself on the back for a job well done. I want all that! But I also know it's not going to last.

My prediction is that if I have a family while being a retired millionaire in my 30s, my house will be the same size as my parent's house, my car will be a Honda Odyssey, I'll shop at Costco and Food Basics, I'll take vacations with the fam once a year visiting my parents a couple times a year, my kids will go to public schools, and my wife will have a regular job while I spend time tutoring the kids and playing games on the Internet.

Let's see if this holds true.

 

[G-man422]

C2B,

I really like the "quiet wealth" idea. I find that knowing I can afford something as opposed to actually buying it is much more fulfilling for me. I enjoy toys, but not one toy has made me happier, gotten me any friends, or made me feel more accomplished. I enjoyed "The Millionaire Next Door" because they talk a lot about this.

Stealth wealth is just plain fun

 

[MJ DeMarco]

Different strokes for different folks.

Some people here can care less about cars -- they want freedom.

Methinks MJ is writing a post about how he sold his Lambo a few months back.

Yup. I didn't want to advertise myself as one of those "evil rich guys" -- you know, the type of person who stole from the 99% to become one of the 1%.

I'm not sure if this is permanent or just a phase, but after several Lambos, Vipers, and Corvettes, the "fast flashy car" thing has passed. I stopped driving my Lambo, and when that happened on a sunny 85 degree day, I knew it was time to let it go.

Now, I'm interested in NOTHING other than a drama free car that will get me from Point A - to Point B, comfortably, and reliably.

I've been driving a 7 year old Toyota. Most everything on the road today is NEWER. I think that speaks volumes on what is important to the Sidewalking majority.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Crumbs2Bricks]

I am not so sure this is the best 3rd post if the goal is to get along with the members here.

I didn't know I was required to post a certain kind of post. So, I'm supposed to think and do what everyone else on this forum does?

 

[PatrickP]

lol

Out of all the posts in this thread you choose to respond to

NICE one buddy

 

[Crumbs2Bricks]

Different strokes for different folks.

Some people here can care less about cars -- they want freedom.



Yup. I didn't want to advertise myself as one of those "evil rich guys" -- you know, the type of person who stole from the 99% to become one of the 1%.

I'm not sure if this is permanent or just a phase, but after several Lambos, Vipers, and Corvettes, the "fast flashy car" thing has passed. I stopped driving my Lambo, and when that happened on a sunny 85 degree day, I knew it was time to let it go.

Now, I'm interested in NOTHING other than a drama free car that will get me from Point A - to Point B, comfortably, and reliably.

I've been driving a 7 year old Toyota. Most everything on the road today is NEWER. I think that speaks volumes on what is important to the Sidewalking majority.

Freedom is pretty much what I desire from wealth. Being in the position to do absolutely nothing on any given day, If I choose to is what I desire.

I was just curious. Certainly not trying to start any trouble on this forum.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

:0

 

[Crumbs2Bricks]

C2B,

I really like the "quiet wealth" idea. I find that knowing I can afford something as opposed to actually buying it is much more fulfilling for me. I enjoy toys, but not one toy has made me happier, gotten me any friends, or made me feel more accomplished. I enjoyed "The Millionaire Next Door" because they talk a lot about this.

Stealth wealth is just plain fun

Yeah, I kind of think it's fun too. Laying low can be cool at the same time. I have family members like that, they have the net worth but it goes unnoticed because of the external appearances that they present.

 

[MJ DeMarco]

Certainly not trying to start any trouble on this forum.

No worries, I didn't think you were. I interpreted your question as legit curiousity. And yes, I think a good 50% of aspiring Fastlaners are in the same mindset as you -- forget the cars, give me freedom!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Crumbs2Bricks]

No worries, I didn't think you were. I interpreted your question as legit curiousity. And yes, I think a good 50% of aspiring Fastlaners are in the same mindset as you -- forget the cars, give me freedom!

Yup, that's all it was. Just curiosity.

 

[MGR-GT3]

I keep telling my friends that the older I get and the more I accomplish in life, my "bucket list" is getting really small and slowly being replaced by a "f*ck it list" meaning I pursue a simpler life without any unnecessary drama or situations that I don't really care about. I do drive a nice car though, but that's just because cars and racing are my passion. My house and overall lifestyle... very humble.

 

[Crumbs2Bricks]

I keep telling my friends that the older I get and the more I accomplish in life, my "bucket list" is getting really small and slowly being replaced by a "f*ck it list" meaning I pursue a simpler life without any unnecessary drama or situations that I don't really care about. I do drive a nice car though, but that's just because cars and racing are my passion. My house and overall lifestyle... very humble.

Don't get me wrong.........I'm not saying not to have a nice car or things. It makes life enjoyable.
I just figured I'd go in another direction as it relates to topics to create. Although, I do like quiet wealth and as you stated, a drama free lifestyle.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GThreepwood]

No worries, I didn't think you were. I interpreted your question as legit curiousity. And yes, I think a good 50% of aspiring Fastlaners are in the same mindset as you -- forget the cars, give me freedom!

Totally agree

 

[Rickson9]

I like this style of living. Managing the ego is often difficult for many. For better or worse the ego fades away fast when individuals are confronted by their own mortality

 

[socaldude]

The same way some people don't like exotics is the same way some people don't like cheese on their hamburger.

To me, exotic automobiles are a passion. The engineering, the aesthetics, the fun. Thats what the fastlane does; it lets you do what you love by buying freedom.

If some people wanna live in a modest home with a used car while building model airplanes all day then thats your freedom.

If another fastlaner wants to keep under the radar in a middle class home while Joe blow Fastlaner likes appearing on MTV Cribs with his miami mansion and limited edition bugatti and flashy jewelry then to each his own.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Crumbs2Bricks]

I like this style of living. Managing the ego is often difficult for many. For better or worse the ego fades away fast when individuals are confronted by their own mortality

Yeah, that's the truth.

 

[biggeemac]

I happen to personally think that it makes me look really cool when i have the means to be flashy and choose not to.....not that i can afford a lambo, but im quite far from broke.

 

[dknise]

I think the vast majority of people on these forums priority list is #1 freedom, then somewhere down the line is #n fun toys.

A young entrepreneur's end goal may not be to buy a Lamborghini, but for many of us it was the first goal. Such as MJ's story about seeing a Lambo when he was a kid, I saw of a Ferrari 360 up close. For a lot of us, myself included, the first question I asked on the path to entrepreneurship was "how the hell does someone make enough money to buy one of these bad boys!" Much like MJ's book, the young entrepreneur soon finds out that the path is not easy, and the path isn't all about them and their toys. They begin to focus on what they can give to others, and when this happens, they also change their definition of wealth from a Lamborghini to freedom. By all means... that first symbol is still desired! But it is no longer the end goal or only focus in life.

Living a life without "flash" for the sake of saying you can afford it but don't have it is just as egotistical as only buying the "flash" for the sake of "flash" and bragging rights. Same douchy concept, different way of showing it.:smilielol:

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[dknise]

I happen to personally think that it makes me look really cool when i have the means to be flashy and choose not to.....not that i can afford a lambo, but im quite far from broke.

Point made haha. If you're doing something for the sake of how other's will perceive you, you're still being "flashy." Always do something you want because you want it, not because someone else will.

 

[MMatt]

Don't get me wrong I like toys but I don't desire nice vehicles just to show off. While the attention is sometimes cool i love acceleration, and modifying vehicles for more power. Whether it be a lambo or a budget mustang; if it's fast and clean I respect the time and effort it took to get there. I don't look at this vehicle as a way to just show off.

 

[Tiger]

I am more interested in exactly what these guys of quiet wealth did to become wealthy.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Steele Concept]

I think it comes down to what you are interested in. Personally I'm a bit of a nerd and pay more attention to electronics and health stuff. I'd like to drive a Honda CRZ (efficient and fun), live in a modest house on a lake, do a lot of jiu jitsu, eat the finest food and mainly just have freedom.

For me it comes down to freedom. To pay off my student loans and become self sufficient would feel wonderful. To not have to worry about a 9-5 and lost dreams or petty financial bullshit.

I like to keep it simple.

 

[TheTruth]

I am more interested in exactly what these guys of quiet wealth did to become wealthy.

Exactly.


This information is so hard to come by if you browse through your traditional media outlets or listen to "guru's".


For example, almost every single hollywood movie portrays rich guy's into 1 of 2 categories: some guy who pushes numbers or illegal shady business practices


On another note, I think the pictures of flashy things all come from the benefit of freedom. This forum is based on sound ethic principles that focus on others, the games and toys are just for the fun of it and look cool in the avatar

 

[santa]

Living a life without "flash" for the sake of saying you can afford it but don't have it is just as egotistical as only buying the "flash" for the sake of "flash" and bragging rights. Same douchy concept, different way of showing it

+1

I am more interested in exactly what these guys of quiet wealth did to become wealthy.

+1

I think it comes down to what you are interested in. Personally I'm a bit of a nerd and pay more attention to electronics and health stuff. I'd like to drive a Honda CRZ (efficient and fun), live in a modest house on a lake, do a lot of jiu jitsu, eat the finest food and mainly just have freedom.

+1








@Crumbs - I wonder what those people would have been like before they made their money?
Maybe a % did go for the flash cars or had icons of wealth similar to them as driving forces? But maybe like MJ said above their priorities and tastes changed?
It would also be interesting to see if there were any distinctions between how they made their money (FastLane vs Slower Lane) and if they were self made or had varying degrees of inherited gains

Cars have never done much for me really (though I remember ooogling at posters of them on my friends wall as kid- due to the scantily clad women accompanying them....!), nor big houses etc etc.

But freedom and choice. Yeah Baby! Using my resource to create positive social change. Yeah Baby! Using it to protect and enhance my health. Yeah Baby!

I like you're phrase "exotics"- if thats what others want then good for them. I'd be more inclined to control my indicators of wealth in a way that would give me a low profile. Both have advantages and drawbacks...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[1PercentStreet]

I think being flashy has it's pros and cons.

Majority of cons being if you're not aware of people using you, you'll be used like a $5 hooker.(Not speaking from experience hahaha)

For me, in the next 2 years I want to have a total of 5 years expenses saved up and 2 fully loaded average cars. 1 Mustang, 1 F450 as well as purchasing a comfortable house in I can grow with and build my dream backyard kitchen.

A lot of people think they need to impress others and when that wears off, they'll see what really matters. Now, owning a Aventador is awesome but it's not your ticket to happiness.

Great to focus on just acquiring wealth then worrying about how people act with it afterwards. A person that makes 1m in a year shouldn't be buying a lambo. Now if they make 1m per year for a few years then it's different.

I think I went completely off topic :/


Not to say I do not want to build a car collection I'm a fanatic and ultimate goal for cars is ~$15m car collection. This is a far ways away though. At least 10 years

 

[JAJT]

I have no interest in cars or other "bling" - they aren't even on a top 100 list of my passions. I would absolutely spend money on things I WAS passionate about though.

Right now, the #1 "thing" I want is a chef's kitchen. I love cooking. If I had all the time in the world I would likely spend most of it in the kitchen making fantastic meals for family and friends. Next up would be redesigning my theater into a more accommodating space.

Oh, I never mentioned I have a theater in my basement? Took a lot of slowlane savings to build that...

(please note, these were early pictures, I've fixed the window and screen sag since taking these)