Stealth Wealth: 3 Habits of the Secretly Rich
Smarter and Harder
Stealth wealth, the practice of quietly building wealth in private, has become an increasingly popular lifestyle choice for money-conscious families
Stealth wealth can offer several benefits and improvements over traditional wealth-building:
- Lower external expectations and pressure
- Not feeling the need to compare yourself to others
- Fewer people asking you for money/support
Of course, stealth wealth isn't perfect for everyone. To some, it may feel a little dishonest, or full financial privacy may not be possible.
If you think that stealth wealth and a more private financial life might be for you, try some of the following tips to get started.
Overspending on luxury purchases and frequent lifestyle upgrades not only erodes your ability to build wealth, it also sends a message to those around you that you have plenty of extra cash to burn.
Be Honest but Private
Stealth wealth doesn't have to be dishonest. It's great to share your financial hopes, goals, and what you're working on. But it may be better to withhold specific numbers and details around company that will get the wrong idea.
Talk About Process, not Product
When you do discuss money with others, try to focus on principles, ideas, and practices rather than how much money something has made you or how much you currently have.
For those who aim to live a modest and financially stable life, stealth wealth can be a fantastic tie-in. For almost anyone on a wealth journey, it is at least worth a try.
More from Smarter and Harder:
Hypermiling: The Art of Frugal Driving
Stepping off the Hedonic Treadmill
Buy Less But Better: The Secret to Frugal Luxury