I'm so tired of the idea that the ultra-rich stay wealthy because they rarely make impulse purchases. That argument ignores things like pistachios-a luxury snack in my book. My net worth is $35,000, and an $8 bag of pistachios is 0.023% of that. If someone worth $10 million spent the same percentage, that would be about $2,300. For me, buying five bags of pistachios is like a rich person casually dropping over $11,000. My impulse buys give me brief moments of nutrition and satisfaction; their impulse buy is a modest car. poor people are poor because every buy has the same impact as an impulse buy
@@mayankkmar5624 Living expenses doesn’t change if you are a millionaire or a billionaire at a certain point the amount of money you are able to spend in day is barely making an impact to your total wealth. The money those people make is going to rot in the bank, accumulating over time without being used, which is why they start to buy expensive assets like home and properties which raise in value making profit and combats inflation so they end up becoming richer while you the normal person keep getting poorer.
new cars are depreciating assets. many classic cars actually appreciate in value due to their status as collector's items that have a finite and ever-decreasing supply
this is an actually braindead take, if you look at literally ANY of the world's richest people and watch their impulse spending [namely, elon, but you could make the argument for jeff bezos and som eothers]
Basically really wealthy people have so much money that buying rollexs and Lamborghinis isn’t a big deal to them financially, and if you buy 20 super expensive cars, a couple huge houses, and your own yacht and private plane, your no gonna have much more lifestyle things to buy that will actually make a difference in your happiness so you just focus on getting more money through companies and stocks are whatnot until you can build your own space program
They have so much money that impulse purchases mean as much to them as picking up a candy bar when we buy groceries. It’s such a small purchase that they do it without really thinking. It’s not that they don’t do it, they just make so much it doesn’t matter.
Not sure, perhaps a feeling of safety? Knowing you have enough money to survive and not have to worry about having too little money would feel nice, wouldn't it?
You say rarely spend money on impulse while discounting every expensive thing they buy. Just cause they arent buying million dollar things doesn't make a non impulse decision
It's because they work to gain more. Ultra rich stay rich because they get more capital to get more capital. Thus, they never run out of money but need to use that money to get more money.
Why do rich people refuse to buy things they like because they wanna save, like mf you already rich you are not taking that shit when you become a cat or sum fr 😂
Every rich person I've ever known spends money with complete disregard. 1 million in the bank at 5% annual return in a HYS or stock portfolio, give 50k yearly, completely passive and entirely assured. Now make that 10 million and you can spend 500k guilt-free each year. Most of what they tell you is just bullshit to make them feel good despite their wealth. I knew a man worth 28 million that drove a "modest" SUV worth about 40k and people always lauded him for it. On his private ranch he drove classic cars and trucks worth 150k+.
I'm sure you definitely know a lot of extremely wealthy individuals, since we all know that random people on the Internet are completely trustworthy and that anecdotal evidence of three people is much more important than data on thousands of individuals.
Ngl if u have 100+ and ain’t spending like why? Like u do know u don’t take it when you die? Like genuinely what’s the point? “ oh to give to ur kids” like bro they don’t need all 100M
most of the super rich people are just competitive people who like making money and fame it's like playing video games as for spending it well have a look at elon musk bro's out there building rockets
You know never understood why ppl say this things. I have been looking at theye mega mansion videos a couple months ago and I found them really cool and wished I lived in one. Then there comes a bigger more expensive one and id immediatly think the same. I realized pretty quickly that i wasnt getting satisfied with these mansions anymore no matter how big they were never enough. Spending money like you said would be fun at first till you become addicted and actually dont value spending that money anymore and never being satisfied. Thats the true definition of greed
Yeah and if thats the case, they are very much a reason why the economy is so bad. All ill add,.is that there is no reason for a billionaire to exist. Millionaires, fine. But billions, you have too much money. Let alone the few trillionaires.
I'm so tired of the idea that the ultra-rich stay wealthy because they rarely make impulse purchases. That argument ignores things like pistachios-a luxury snack in my book. My net worth is $35,000, and an $8 bag of pistachios is 0.023% of that. If someone worth $10 million spent the same percentage, that would be about $2,300.
For me, buying five bags of pistachios is like a rich person casually dropping over $11,000. My impulse buys give me brief moments of nutrition and satisfaction; their impulse buy is a modest car.
poor people are poor because every buy has the same impact as an impulse buy
I want to understand this more
Can you elaborate?
@@mayankkmar5624i think it’s explained quite well
Where the hell do you live that pistachio's are that expensive?
@ nyc lol.
@@mayankkmar5624 Living expenses doesn’t change if you are a millionaire or a billionaire at a certain point the amount of money you are able to spend in day is barely making an impact to your total wealth.
The money those people make is going to rot in the bank, accumulating over time without being used, which is why they start to buy expensive assets like home and properties which raise in value making profit and combats inflation so they end up becoming richer while you the normal person keep getting poorer.
Cars a depreciating asset.
new cars are depreciating assets. many classic cars actually appreciate in value due to their status as collector's items that have a finite and ever-decreasing supply
Really old classic cars appreciate in value as they get older because they get rarer to find in good condition
"classic" is the key word here
this is an actually braindead take, if you look at literally ANY of the world's richest people and watch their impulse spending [namely, elon, but you could make the argument for jeff bezos and som eothers]
Basically really wealthy people have so much money that buying rollexs and Lamborghinis isn’t a big deal to them financially, and if you buy 20 super expensive cars, a couple huge houses, and your own yacht and private plane, your no gonna have much more lifestyle things to buy that will actually make a difference in your happiness so you just focus on getting more money through companies and stocks are whatnot until you can build your own space program
They have so much money that impulse purchases mean as much to them as picking up a candy bar when we buy groceries. It’s such a small purchase that they do it without really thinking. It’s not that they don’t do it, they just make so much it doesn’t matter.
Theyre just smart they know theyre at risk and everything can jappen at every moment theyre keeping the money to them selves so they can roast lmfao
Roast?
@@yurionice1131I think he meant roost like being able to stay at home and just relax
literally just old money and new money
As someone who has worked in multiple single family offices (generational asset management for one family), they can't stop and won't stop.
Dangit here i am investing in bills and food.
One uses money while the other hoards money
That's kinda something everyone find smart but I find stupid. Wtf is the point of having money without spending?
Not sure, perhaps a feeling of safety? Knowing you have enough money to survive and not have to worry about having too little money would feel nice, wouldn't it?
I guess generational wealth.
Lol😂.
@Ryuga that's how you end up living paycheque to paycheque and having a retirement two years from death
We are talking about 40+mio dollar here. And just because you are spending doesn't mean you will get broke if you invest @@igenuinelydontknow5235
You say rarely spend money on impulse while discounting every expensive thing they buy.
Just cause they arent buying million dollar things doesn't make a non impulse decision
My brain: Scrooge McDuck
Thats the problem, Money is for spending not for growing. Thats how an economy works.
Yeah a good chunk of rich people don't do much with it
What's the point of making money if you don't spend it
Oh and they mistreat their employees, I wonder why they are rich
Who are they growing the wealth for though?
It's because they work to gain more. Ultra rich stay rich because they get more capital to get more capital. Thus, they never run out of money but need to use that money to get more money.
Not really its just the type of person my mom is only worrh 5 million but she rarely spends it only to buy more rental properties
Why do rich people refuse to buy things they like because they wanna save, like mf you already rich you are not taking that shit when you become a cat or sum fr 😂
Every rich person I've ever known spends money with complete disregard. 1 million in the bank at 5% annual return in a HYS or stock portfolio, give 50k yearly, completely passive and entirely assured. Now make that 10 million and you can spend 500k guilt-free each year. Most of what they tell you is just bullshit to make them feel good despite their wealth.
I knew a man worth 28 million that drove a "modest" SUV worth about 40k and people always lauded him for it. On his private ranch he drove classic cars and trucks worth 150k+.
I'm sure you definitely know a lot of extremely wealthy individuals, since we all know that random people on the Internet are completely trustworthy and that anecdotal evidence of three people is much more important than data on thousands of individuals.
obviously you pay your workers who save u time and money more that is how buisness works
Ngl if u have 100+ and ain’t spending like why? Like u do know u don’t take it when you die? Like genuinely what’s the point? “ oh to give to ur kids” like bro they don’t need all 100M
when a poor person hoards money he is called miser, but when a rich person hoard money he is called a genius.
It's not wealthy and really wealthy it is rich and wealthy
No point in having money if you don’t do anything with it…..
most of the super rich people are just competitive people who like making money and fame it's like playing video games
as for spending it
well have a look at elon musk
bro's out there building rockets
@ ya atleast he uses it. Some people just hoard money though
@@JustADiamondBlock they usually keep it for the next generation. If you have a lot of money wouldn't you want your kids to have it?
@ ya but also that just makes lazy kids
You know never understood why ppl say this things. I have been looking at theye mega mansion videos a couple months ago and I found them really cool and wished I lived in one. Then there comes a bigger more expensive one and id immediatly think the same. I realized pretty quickly that i wasnt getting satisfied with these mansions anymore no matter how big they were never enough. Spending money like you said would be fun at first till you become addicted and actually dont value spending that money anymore and never being satisfied. Thats the true definition of greed
Yeah and if thats the case, they are very much a reason why the economy is so bad. All ill add,.is that there is no reason for a billionaire to exist. Millionaires, fine. But billions, you have too much money. Let alone the few trillionaires.
'Wealth isnt for spending its for growing' and what a wonderful world economy that philosophy has produced :D