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Many socially and economically scarred people believe it’s impolite to talk about money, so it’s no surprise that no one knows how to do so in a civilized manner. However, quietly wealthy people choose not to be flashy with their cash because there is an undercurrent of class that comes from knowing when to shut your trap about how much you make (and, it’s a good way to keep from being robbed).
While you may not see them driving expensive midlife crisis cars or wearing designer clothes that advertise what they pay for a T-shirt, they are quite strategic when it comes to managing and building their wealth — you’ll just never hear about it. Simply put, financial privacy may protect your assets and your peace of mind, but does this mindset matter for building and preserving wealth?
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Here are the top five signs that rich people know how to shut up about their money.
No. 5: You Won't Hear About Their Investments (You've Probably Never Heard of Them Anyway)
How did the hipster burn his tongue on the brownie? He took a bite before it was cool. This, in essence, is why you don't hear sophisticated and quietly wealthy people blather on about their everyday finances and investment strategies. In fact, Forbes reported that wealthy families historically stay quiet to reduce security risks, social pressure and unwanted attention.
Sure, it's part gatekeeping, part "it's gauche to talk about money," but all their money moves have a purpose. They often invest in non-mainstream assets or niche industries, which aren't necessarily flashy, but they certainly spit out steady returns without having to brag about it.
No. 4: They Don't Tell You They Come From Money, but You Know Their Kids Do
Stealthy wealthy people don't mention things like monthly bills or emergency funds because they know they are covered. Not only are they covered, but also their children, and possibly their children's children. Generational wealth is more than just a bank account; it's a way of presenting yourself in public.
The finance experts at Iceburg Wealth emphasize that privacy is also a form of financial security.
“The fewer people who know what you have, the less exposure you face from theft, lawsuits or even family pressure. Rich people don’t advertise what they own because doing so invites risk," they said.
The era of oligarchs aside, rich people often think beyond their own life span, setting up structures like family offices or educational funds to benefit future generations. At a certain point, financial literacy becomes part of their DNA.
No. 3: They Only Buy Quality Once, but Their Casual Outfit Costs More Than Your Rent
Investing in high-quality and even higher-end designers lets those in the upper echelons of net worth avoid the trap of buying cheap items multiple times. These timeless pieces of bespoke clothing don't have a logo across the chest but still scream, "I'll last a lifetime and cost more than your car."
The savings experts at Third Act Retirement Planning said, “Practicing ‘stealth wealth lifestyle’ involves embracing a lifestyle that avoids flaunting wealth publicly. This means steering clear of flashy logos and ostentatious brands that draw unnecessary attention. Opting for high-quality items with subtle branding helps maintain a low profile while still enjoying durability and craftsmanship.”
If you want to emulate this mindset, focus on frugal spending for quality items over disposable ones, and don't let people know about the deal you got without them asking.
No. 2: They Don't Seek the Spotlight for How Amazingly Generous They're Being
To those who much is given, much is expected. If you have a billion dollars and don't give back, you'll start to get looks.
According to the money experts at Ramsey Solutions, “Sure, some rich people can be selfish jerks—just like anyone else. But the millionaires who live down the street, the ones you don’t even realize are wealthy, are some of the most giving people you’ll ever meet… They work hard, save and respect the ability of others to do the same.”
However, donating to charities or making contributions to your favorite causes shouldn't be a publicity stunt. Quietly wealthy people typically keep quiet about their philanthropic endeavors, even though they will surely let the IRS know about them.
No. 1: They Never Ask About the Price of Anything – But Should They?
And now, the No. 1 sign that rich people know how to shut up about money is... they don't ask how much things cost because it genuinely doesn't concern them. Money expert Suze Orman would balk at this a bit as her mantra is, “Live below your means, but within your needs.”
However, one of the telltale ways you can spot someone with money is not only when they don't know the price of a gallon of milk, but if you told them it was $20, they wouldn't bat an eye. But is frugality the core principle of how you should manage your money?
Possibly as Thomas J. Stanley’s “The Millionaire Next Door” butts its head against flashy wealth and emphasizes the need to prioritize financial independence over displaying high social status.
"Wealth is what you accumulate, not what you spend," he wrote.
If you don't need to do some quick math at the grocery store checkout, you're probably a bit more comfortable than many people in America. However, you know better than to go bragging about that fact to the other people in line, and just shut up when it comes to the amount of money in your wallet.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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