How to Tell If You’re Rich

[paullow]

i am in my thirties. no inherited monies. i have 2 condos purchased 10years ago, a healthy sum in the bank and a seven figure investment portfolio. i drive a 8 year plus lexus fully paid.
some of my clothes are picked from people who throw them away. i use a happy feet penguin wallet which comes from buying colgate foc. i use a solar powered casio watch bought from cash converter. i cut my hair $3.50 at bedok block 85.
my staff buys vegetable rice costing $2.30 everyday for me.
my only big expenditure is a >100 year old car plate S_ _ which i spent a six figure to acquire 6years ago which led to a big fight between my wife and I.

i just live simply though i can afford more than what i use now.

just sharing.

Hi Paul, u are more frugal than me!

I try to live frugal and way below my means not because i want to deprive myself but because i find some things just too wasteful. And interestingly it is selective. So for example, i am ok with bus class travel but not for my kids and not for <3 hour flights. I am ok to spend $300 on a meal , but spend only $10 haircut. I wear $10 t-shirts but am cool with 5 digit watches..... so its like some things i see the value, others i just cannot.

Paul, Did you reach your wealth through gradual appreciation and dividends from business? And are you mid/late 30s?

Another factor i realize is how the wealth was acquired. If via sale of business or some windfall type... then the tendency to up spending is higher. if via slow accumulation... then the spending patterns totally do not change.

Yes, somewhere mid thirties....

My accumulation was through building up my biz first, then rapidly channel funds in a few thoroughly undervalued stocks to build passive income.

(i hope my wife will not read this)

once i felt that i know how to create money from money and i am very unlikely to exhaust my money, i gave my wife a credit card and ask her to buy what she likes.

somehow i dun see her buying LV, PRADA etc. think she's as frugal as i am.