Stealth Wealth and Quiet Luxury

Stealth wealth is the practice of being wealthy without flaunting it. Stealth wealth individuals may drive modest cars, live in modest homes, and wear nondescript clothing. They may also choose to keep their financial status a secret from friends, family, and colleagues.

There are many reasons why someone might choose to live a stealth wealth lifestyle. Some people may do it to avoid unwanted attention from friends, family, or criminals. Others may do it to maintain a sense of humility or to avoid being seen as materialistic. Still others may do it simply because they don't see the need to show off their wealth.

Whatever the reason, stealth wealth is a growing trend. A recent study by Fidelity Investments found that 62% of wealthy Americans are now choosing to live a stealth wealth lifestyle.

Where I first heard it

I read about stealth wealth when I was reading financial samurai and it wrote about how you can stay invisible to the society. Stealth wealth is the act of being wealthy without having to show it off. In Singapore’s context, we have heard of many examples where people with booming businesses were reported to IRAS and not saying that you should not be paying your taxes but not putting yourself out there can reduce the amount of attention that you are getting and live your life peacefully.

Also, we always say that the people who are the richest are those who are wearing singlets and slippers because to them there is no need to flaunt the wealth as they already have everything they need. In a way, if you can dress in a way that elude elegance regardless of the brand that you are wearing then that is the way to go.

The purpose is not to be flashy as you attract unnecessary attention but in today’s world where attention can be monetised, I guess in a way, if you like to be loud about your wealth then go for it. With all that said, I would think that this applies to individuals of a certain wealth level because you don’t want to be evoking other’s hate.

Quiet Luxury

Quiet luxury is a style of living that emphasizes understated elegance and quality over overt displays of wealth. It is often characterized by a minimalist aesthetic, with a focus on timeless pieces that are made from high-quality materials.

Here are some of the key characteristics of quiet luxury:

• Understated elegance: Quiet luxury is all about understated elegance. It is not about flashy logos or over-the-top designs. Instead, it is about choosing pieces that are simple and classic, but that still exude a sense of sophistication.
• Quality materials: Quiet luxury is also about quality materials. It is important to invest in pieces that are made from high-quality materials, such as cashmere, leather, and silk. These materials will last longer and look better, even if they are more expensive.
• Timeless pieces: Quiet luxury is about timeless pieces. These are pieces that will never go out of style. They are the kind of pieces that you can wear for years to come and still look stylish.
• Minimalist aesthetic: Quiet luxury is often associated with a minimalist aesthetic. This means that there is a focus on simple, uncluttered lines and designs. There is no need for a lot of bells and whistles when you are trying to achieve a quiet luxury look.

Difference between Stealth Wealth and Quiet Luxury

While these two are easy to confuse, there's one fundamental difference between them. Those who practice stealth wealth dressing are truly trying to hide their affluence, while quiet luxury is just another (albeit, very understated) way to appear wealthy.

Presentation of Wealth

I saw the podcast/video on The Woke Salaryman where they talked to Christopher Tan, CEO of Providend, a fee-only wealth advisory firm in Singapore and he described the high net-worth individuals who engage them usually dress simple and do not flaunt their wealth and in a way, is an example of stealth wealth.

When I was young, I always heard that when we go Orchard Road, the really really rich people are those in their singlet and slippers although I don’t know how true that is, I believe that there is some truth in it. To me, stealth wealth is a good way to live and we can see many examples of it especially in the older generations (eg. Warren Buffett, Charlie Munger)

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