Stuff Rich People Do

[Anonymous]

Well, the truly wealthy have a team of lawyers, financial planners, and firms that have been with the family for generations, whose aim is to protect, defend, and grow their clients' assets through a variety of contracts, trusts, insurance policies, and innovative financial instruments.

If they are smart, these families have papered their way to preserving their prosperity in good times and bad.

Which then allows for all of the visible manifestations of wealth that pps have described for pages and pages here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

The reality is a lot prefer it. Not the studio flop pad with a futon, but 1000 a night air bnb gets a lot. Multiple rooms in a beautiful home, private pools, use of yachts, security, privacy, etc.

That sounds nice. But do you own it (rather than Air BNB it?). That is what this thread is about. Not the wanna bes.

Huh? You don't own the hotel either.

The poster talking about Airbnb is right. I spent $17,000 on a 2 month stay at an Airbnb last year. It was a penthouse apartment with a beautiful roof deck in Paris. So much nicer than just staying in some small hotel room - and probably cheaper in the end too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

The reality is a lot prefer it. Not the studio flop pad with a futon, but 1000 a night air bnb gets a lot. Multiple rooms in a beautiful home, private pools, use of yachts, security, privacy, etc.

That sounds nice. But do you own it (rather than Air BNB it?). That is what this thread is about. Not the wanna bes.

Huh? You don't own the hotel either.

The poster talking about Airbnb is right. I spent $17,000 on a 2 month stay at an Airbnb last year. It was a penthouse apartment with a beautiful roof deck in Paris. So much nicer than just staying in some small hotel room - and probably cheaper in the end too.

NP here. This sounds lovely. I would love to do this with my boys next summer. We usually stay at 5 star hotels but it would be more comfortable to stay at an apartment. Did your apt come with cleaning? How does that work? I would want housekeeping at least once per week.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

The reality is a lot prefer it. Not the studio flop pad with a futon, but 1000 a night air bnb gets a lot. Multiple rooms in a beautiful home, private pools, use of yachts, security, privacy, etc.

That sounds nice. But do you own it (rather than Air BNB it?). That is what this thread is about. Not the wanna bes.

Huh? You don't own the hotel either.

The poster talking about Airbnb is right. I spent $17,000 on a 2 month stay at an Airbnb last year. It was a penthouse apartment with a beautiful roof deck in Paris. So much nicer than just staying in some small hotel room - and probably cheaper in the end too.

Same here, but I'm not rich. I have friends who work in the high end hotel industry. I appreciate the free stays in swanky hotels when I travel with them, but I also prefer Airbnb apartments.

I love having a kitchen and extra space.. and finally, you can get very nice apartments in the best neighborhoods. For example, I stayed in the Jordaan neighborhood in Amsterdam, a very quiet part of Montmartre right by all the cute farmers markets and shops, behind Mercado de San Miguel in Madrid, a sweet apartment overlooking the Galata Tower in Istanbul.. and so on and so forth..

Hotels, even small boutique ones, are in commercial districts. It's a completely different experience.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

The reality is a lot prefer it. Not the studio flop pad with a futon, but 1000 a night air bnb gets a lot. Multiple rooms in a beautiful home, private pools, use of yachts, security, privacy, etc.

That sounds nice. But do you own it (rather than Air BNB it?). That is what this thread is about. Not the wanna bes.

Air BnB! Go poking around at 1000+ per night homes. You'll be amazed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is DC, so being smart and well connected are usually a lot more "prestigious." What makes me happy about being "rich" is that we can give one-third of our income to our favorite causes and candidates. As a result, my DC is comfortable at the White House and the halls of power. I bet my DC knows more MoCs than the typical K Streeter. The behind the scenes tours at the Smithsonian and the zoo are really special.

Our lifestyle means Martha's Vineyard in the summer, Asia in the fall, a warm weather trip in the winter, and Europe for spring break. But, we prefer nice AirBnBs to $1000/night hotels and we only fly first or business on miles. Our vintage Porsche cost less than the Toyota SUV. Yes, we had a nanny when DC was little, but we shared her with another family so we could pay for a more skilled/qualified one than we could otherwise afford. We only hired a housekeeper after the spouse and I argued over the chores. Private school tuition isn't a big deal, but I prefer to have my own cooking for lunch rather than eat out. We still get most of our books from the library than Amazon. I once had a very expensive watch but after losing it within six months, I've stuck to Timex ever since. Minibar and Komi are great, but I can't eat like that more than twice a year. I'm a regular at fast casual Cava and Sweetgreen.

Nobody prefers air bnb (really?) to $1000/night hotel.

The reality is a lot prefer it. Not the studio flop pad with a futon, but 1000 a night air bnb gets a lot. Multiple rooms in a beautiful home, private pools, use of yachts, security, privacy, etc.

That sounds nice. But do you own it (rather than Air BNB it?). That is what this thread is about. Not the wanna bes.

Huh? You don't own the hotel either.

The poster talking about Airbnb is right. I spent $17,000 on a 2 month stay at an Airbnb last year. It was a penthouse apartment with a beautiful roof deck in Paris. So much nicer than just staying in some small hotel room - and probably cheaper in the end too.

NP here. This sounds lovely. I would love to do this with my boys next summer. We usually stay at 5 star hotels but it would be more comfortable to stay at an apartment. Did your apt come with cleaning? How does that work? I would want housekeeping at least once per week.

If it doesn't come with it (ask for weekly cleaning or more if it isn't advertised) owners will arrange it for lengthier stays. They want their properties cared for nicely.

Look at some of the offerings in beach locales where 750 a night hotels are "meh" and compare. You'll be surprised, especially the savings for families.

[Anonymous]

Anonymous wrote:When we were skiing at Deer Valley we saw a lot of people who hire a private ski instructor full time for their entire trip. This is about $1000/day (including tip). I talked to an instructor who works for the same family each year for their entire ten day trip. Their kids are old and know how to ski well, they just like to use the instructor to skip the lines and get some tips and a guide for the mountain. When I heard that I thought "so that is how the 1% of the 1% live).

Of all the ideas on this thread, this one makes a ton of sense to me. Not just for skiing, but for everything. If I'm ever in that income/wealth bracket, I'd do everything possible to avoid waiting in line. For anything. That is money well spent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:When we were skiing at Deer Valley we saw a lot of people who hire a private ski instructor full time for their entire trip. This is about $1000/day (including tip). I talked to an instructor who works for the same family each year for their entire ten day trip. Their kids are old and know how to ski well, they just like to use the instructor to skip the lines and get some tips and a guide for the mountain. When I heard that I thought "so that is how the 1% of the 1% live).

Of all the ideas on this thread, this one makes a ton of sense to me. Not just for skiing, but for everything. If I'm ever in that income/wealth bracket, I'd do everything possible to avoid waiting in line. For anything. That is money well spent.

It makes sense. For us, even with a HHI in the lower six figures, we generally fly on vacations rather than drive, because it costs less than the additional vacation time to drive would be. Wasted time costs money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When we were skiing at Deer Valley we saw a lot of people who hire a private ski instructor full time for their entire trip. This is about $1000/day (including tip). I talked to an instructor who works for the same family each year for their entire ten day trip. Their kids are old and know how to ski well, they just like to use the instructor to skip the lines and get some tips and a guide for the mountain. When I heard that I thought "so that is how the 1% of the 1% live).

Of all the ideas on this thread, this one makes a ton of sense to me. Not just for skiing, but for everything. If I'm ever in that income/wealth bracket, I'd do everything possible to avoid waiting in line. For anything. That is money well spent.

It makes sense. For us, even with a HHI in the lower six figures, we generally fly on vacations rather than drive, because it costs less than the additional vacation time to drive would be. Wasted time costs money.

Well it depends. Anything within a 8-10 hour drive we find to be better done as a road trip. The reason I say this is because even a 1-hour flight will turn into a 4 hour total trip: driving to the airport, security, waiting at the gate, the flight itself, exiting the airport, getting your rental car. If you have checked luggage, add another 30-60 minutes. The flight also pretty much locks you down on the day of the flight, you can't schedule to do anything on that day in fear of schedule conflicts. I used to try and arrange short business flights in the afternoon so that I have the morning to get things done. It's always ends up making the day very stressful. So these days I fly out in the morning and if by the time I sit down in my hotel room I still have time to do something, I'll do it then.

[Anonymous]

I love threads like this! Wish I could post here, but I'm just one of the onlookers...

[Anonymous]

Anonymous wrote:Places I have not stepped foot in months -- a grocery store, a gas station or a dry cleaners. All the things that I need from these places are taking care of by someone else, without my ever even really thinking about them. It's like food is in the pantry and gas is in the tank and clean clothes are in my closet just magically without my ever having to think about it. But I do appreciate it greatly.

You sound like my husband.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Places I have not stepped foot in months -- a grocery store, a gas station or a dry cleaners. All the things that I need from these places are taking care of by someone else, without my ever even really thinking about them. It's like food is in the pantry and gas is in the tank and clean clothes are in my closet just magically without my ever having to think about it. But I do appreciate it greatly.

You sound like my husband.

DH does get his own gas but I handle everything else. DH earns a 7 figure income. I do everything with the kids and house.

[Anonymous]

Anonymous wrote:Free time, location flexibility & low stress are the best things about having enough money that you don't have to worry about it. We bought a second home overseas & have turned it into our primary home. Neither of us work, and we mostly spend our time as we please: exercising, exploring our new place, finding local artists to commission work for our new home & learning the language. Not much stress or pressure; it feels like an extended vacation.

Do you have children? How old are they?

[Anonymous]

Anonymous wrote:
Nobody prefers air bnb (really?) to $1000/night hotel.

You haven't looked at the high-end stuff on AirBnb then. There are some amazing places.

For my trip to Japan this summer, I'll be drinking wine on the huge terrace of my Airbnb apartment. No hotel nearby had that to offer.

[Anonymous]

Plastic surgery