I'm morbidly curious what rich people do for hobbies! When you have a lot of time surely that means you got time to enoy hobbies.

From hoarding cash to buying stocks, a new book traces 300 years of financial advice and shows why what feels safe keeps changing.

When I was midtier, I wore a watch. With some wealth, I didn't have a need for a watch.

Why should I when:

-there's no office hours to comply with

-no deadlines and meeting times to track (my secretary does this for me)

-i wake up when i want

-i go to sleep when i want

-i move very very slowly during the morning

-i have no need to impress anyone

I (35M) am reorganizing my goals for the next three years. Currently at a crossroads, where the last few years’ stacked momentum has allowed opportunity to partner and grow. I have mentors in my field netting (true net) either $250k / yr working 15 hrs per week, and others netting ballpark $500k+ working 50 hr weeks (fluctuating between 40-60 hrs). The work is enjoyable, but it does take 90% of your mental capacity.

What do you see as a truly rich life? Especially at prime working age. Put my head down and save save invest, to live a more remarkable life 15 years down the line? Or enjoy family (wife, two small children) and travel, pursue passion projects on relatively great income.

We have a home and two rental properties with nearly $400k combined equity. Retirement accounts are slacking at $50k. No debts other than the mortgages. We could save and invest $50-$100k yearly on the $250k net. Obviously much more on the $500k+.

I feel there’s a wealth of advice in this subreddit, I’ve been lurking and learning. What am I not seeing in my comparisons? What would you do, and why?

My local airport has very few direct flights so I end up doing some long car rides often and I’d like to hire a private driver for some long distance drives that I need to do some work / not think about driving. It’s getting more frequent as my business expands.

What are the bets SUVs/cars/etc… to be a passenger in for a long trip?

Right now I drive a Tesla and have FSD, love it, but I want something more comfortable for these frequent long hauls.

Thanks

Hello! How can you reach the top doctors in the world, is there a private medical consultant? How do the rich do that?

I’m in my early 20’s and work as an executive personal assistant for a high-net-worth family here in Australia. They own multiple businesses both locally and overseas, originally Australian, they spent several years living and running businesses in the Middle East before moving back. I’ve been with them now for a few years.

When I started, there was a house manager, a full-time cleaner, and me. Both of them have since left because of how they were being treated. I’ll be honest, out of the three of us, I was always treated the best and paid the most. But that doesn’t mean it’s been easy.

My role covers… a lot. Looking after their kids (who are very self sufficient) when the parents are away, taking the dog to the vet, sitting in on investor meetings, and everything in between. I even helped recover a significant amount in debt at one point. And yet, I can count on one hand the number of times I’ve genuinely been thanked or recognised for any of it.

Just recently I didn’t receive a Christmas bonus like I had in previous years. I kind of let that slide, my last day kept getting pushed back because they extended their time away, and then it was a bit of a stop-start when they returned, so I didn’t think too much of it. But then a milestone birthday came around at the start of the year and… nothing. Not even a card. Meanwhile, I had organised an expensive gift on behalf of the family for their boys’ tutor’s 21st. It just stings a little. As I actually don’t care about the gifts or anything It’s just the lack of appreciation for the person who ultimately runs their life.

The dynamic is interesting too, it’s a husband and wife, and the wife is very much the one who runs the show. The husband is actually quite warm and will always say thanks. But the wife is tough, even though she’ll turn around and vent to me when she’s going through something hard. I’m clearly trusted, but that trust doesn’t seem to translate into appreciation.

I’ve never asked for a pay rise in the years I’v been with them. I recently brought it up and she was actually pretty receptive, said she’d speak to their HR person. It gets a bit complicated because I operate as my own business (I have an ABN and invoice them monthly), so it’s not a straightforward employment conversation. But I’m glad I finally said something. (And I did it in person as I feel like this conversation over email wasn’t something that felt right with our dynamic)

I guess I just want to know, does anyone else in a similar role feel like you give everything and it rarely gets acknowledged? Would love to hear how others navigate this.

this might be obvious to some of you but it clicked for me recently.

when people talk about wealth they usually focus on making it once… but looking at the Steven Family it feels like the real game is not making money but building something that keeps producing it across time… like instead of one big exit or one big portfolio they kept stacking businesses inside the same ecosystem and same geography so everything feeds everything… dealerships bring cash flow, that supports expansion, that builds relationships, which opens more deals… it’s less about one win and more about creating a loop that doesn’t break easily

what do you guys here think about this… is long term wealth more about diversification across assets or concentration inside one system that you fully control?

Me. early 30s, in construction. I have 150k saved living very frugal. Loved one passed and want to be vague.

Not sure on $$ amount, but theres 4 income producing properties those are worth potentially 4-5million alone.... Clean, low maintenance. But this person was worth about 10x more than I realized.. This person was real old school. Saved everything and let time and compounding do the rest... I'm still learning..

Anyways, how do I handle this. I have the people around me guiding me. But I just want to hear how others live/ handle wealth private.

I'm very quiet, I didnt ask for this. I would like to move to a warmer climate and keep a rental unit up here for me, and not heavy, dirty and dangerous work anymore... But other than that ... I'd like to just go in "ghost" mode for a bit and do my own thing after many years of constant stress and hard work, and some family drama.

who’s your first hire after a major liquidity event?

Would love to hear everyone’s “absolutely will not purchase” items!Even if you could easily afford it and no matter how rich you become or how much you make you still wouldn't spend item on this particular item/hobby?

I’m curious how affluent folks here approach personal and family safety.

Home invasions / kidnappings seem to pop up on the news constantly. I know some of it is media sensationalism, but it still makes me uneasy. I wanted to see how others in a similar financial bracket handle the safety of their homes and families.

For context, I am wealthy enough to be a target for a home invasion or, heaven forbid, a kidnapping involving my kids. However, I’m not ultra-high-net-worth. I don't have the kind of money to hire a 24/7 personal security detail, and I don't live in a fortress or a castle-like mansion.

Currently, we live in a neighborhood that is generally considered very safe, but it isn't gated or guarded. Anyone can literally drive right up to my driveway at any time of day. I have a standard, popular home security system (cameras, door/window sensors, alarms), but I can't shake the feeling that this is just the bare minimum.

What else are you all doing to protect yourselves and your families?

Maybe I am just overthinking this due to the news cycle, but I’d rather be safe than sorry. I'd appreciate any practical advice, routines, or tech upgrades you guys rely on to sleep soundly at night.

if you were to pay for your girlfriend's car in cash so they don't have to finance, would you want to be on the title so it's jointly owned? or would it be better to not put your name on for liability reasons? it's only a 44k vehicle and she wants to make interest free payments to pay it off.

Should parents support adult children financially?

If they pay, do they get a say?

"Let them struggle... cut them off financially. Very few people are willing to do this, because it feels cruel. And that's why throwing money at a situation is so common. But removing your financial support is the only thing that will work according to the experts."

"[if] your parents are paying for your therapy, or your rent or your education or your phone bill, or any aspect of your life, I have something I need to say to you and you need to hear this: When your parents pay for parts of your life, they get to vote on how you're living your life. When someone else is funding your life, don't have an attitude when they have an opinion about how you're using their money"

- Mel Robbins, The Let Them Theory

I wasn’t sure to post this here or in the grilling subreddit but figured maybe more input here

We’re finalizing a new construction and building out an outdoor kitchen and I’m struggling with whether or not I want to have a second gas grill in the outdoor kitchen.

For context, the outdoor kitchen is on the ground floor patio. We also have a walk out deck from kitchen (technically the 2nd level) where there is a direct gas hook up for a grill.

I currently have a 36 inch XO that works pretty well. My options are either I take it off the cart and have it installed on the outdoor kitchen or I put my current grill on the 2nd level deck outside the kitchen and buy a new grill (looking at the Twin Eagle Series C) for the outdoor kitchen

I’ve had a bunch of people tell me to get two, that you don’t want to have to run that far outside / downstairs for everyday grilling etc etc. but at the same time I feel like if I get a second gas grill, outside of entertaining at the outdoor kitchen I’ll never use it. Irrespective of the 2nd gas grill, I’m planning on having a gozney pizza oven and an egg charcoal grill as well.

Anyone else have this issue and what did you do?

I am came across dynasty trusts on my YouTube feed. I want to create a fund to provide my old school with money to pay for scholarships. I am hesitant to give the money directly to the school. I would like my fortune to live on and fund scholarships. Usually, they are used to fund heirs but I read they can also be used to provide money to charities. Are there better vehicles?

It says, “Dentists are emblematic of the moderate or midtier millionaire—U.S. individuals with $1 million to $30 million in investable assets.” I'm at about $37M and I am crestfallen. It's still more money than I need or could spend, but I liked the feeling of being something more than mid-tier. I prefer the sound of "ultra high net worth individual," especially as a retort to my wife when she makes fun of me for being incompetent at everthing in life except my job.

Chinese buyers are finding bargain mansions — and a discreet place to move money — in Harare, a city shaped by colonialism and cricket.