Of course, I’d do all the obvious things, such as getting a bigger house, a newer car, and quitting work, but beyond that, I have no interest in an extravagant lifestyle—or at least that’s what I tell myself.
By a bigger house, I mean one typical of upper-middle-class living. I’ve watched plenty of videos of people touring million-dollar mansions, and they all look too big, open, and sterile to me. I’ve seen cozier tiny homes than those. And by a newer car, I mean a 2017 model or so instead of the 2007 one I drive now.
Really, give me a nice cottage by the lake with some land and a big garage for all my tools and toys, and I’m all set. I much prefer the idea of “hidden wealth” over showing it off. I’m just kind of worried that I wouldn’t be able to live up to my own expectations if push comes to shove, and there’s really no way of testing that. Am I just kidding myself here?
I feel the same way about fame. Many people aspire to become successful YouTubers or such, but the idea of people recognizing me on the street sounds awful.
The way I think about it is that being “rich” means having a lot of money in the bank, whereas being “wealthy” means having enough investments to live off passive income indefinitely. Rich people can still live effectively from paycheck to paycheck, while a wealthy person’s wealth is tied up in assets. This means they can’t necessarily splurge a ton of cash on a yacht or similar luxuries, but they can live comfortably off the interest without having to work. Billionaires, on the other hand, are a whole different animal because they can afford to do both and much more.