What Are the Tell Tale Signs of 'New Money' People?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The entire United States is new money. It’s by definition. This country was buffaloes and Indians before the White man came. It’s all new money and anybody that appears wealthy is just 1 or 2 generations from wrangling cattle and planting corn

It’s all relative. I think if it’s more than 1-2 generations, it’s “old money.” To me, the Rockefellers are old money. Same with the Carnegies, Astors, and Gettys. I would never call this new money.

Yes, I would agree. Once the family maintains their wealth for 3 generations they become old money.

One line is almost bound to maintain it. Now that investments are more stable (it would be really hard to lose a fortune now, but it was common in the 19th century though the 20s and 30s), I would assume that any family crossing a certain threshold will be able to maintain it in perpetuity through most of their lines

Investments are only as stable as the people running the markets keep them - do you think they all have your best interests in mind? Or, how confident are you that they wouldn't throw you to the wolves to protect themselves? These are extreme thoughts (sort of, 2008) I admit...but diversification assists wealth maintenance.

[Anonymous]

Anonymous wrote:I have an old money friend. Her grand and great parents are wealthy landowners in Pakistan. Her father is a retired Ambassador. They live in a large farmhouse back home. But she is so thrifty and frugal. She wears clothes from target and TJ max and wears a cloth tote. All of their family wealth is tied in their land and real estate investments. She isn’t flush with cash but grew up in beautiful homes around the world and has a posh education.

Pakistan? 4th World nations don’t count

[Anonymous]

Anonymous wrote:

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Anonymous wrote:Online clues:
Constantly posting travel photos experiences and meals on FB/Insta "what an AMAZING day we had zip lining in Costa Rica" "I'm in HEAVEN - enjoying tonights Sangria and Paella in PORTUGAL"
Posting about dream school full-freight acceptance to someplace expensive but mediocre "All the hard work paid off - Suzy is THRILLED to be joining the Tulane community"
Posting FB/insta photos at the lacrosse game where their Jimmy is benched with rich families they have met twice

Real Life Clues:

- Whole family dressed head to toe in trendy mall brands (Burberry, Golden Goose, Tory Burch, Aviator Nation, Crew, David Yurman, Louis Vuitton)
- Leased Mercedes or Lexus LX SUV
- Beautiful home adorned with Home Depot window treatments

You sound insufferable but how exactly can you look at a car and know it’s leased? Are you one of those people who just can’t imagine buying a car that’s more expensive than the one you have?

DP here. IME leasers are MORE than happy to tell you all about it and try to convince you that its somehow saving them money.

+1

Old money are typically in Subarus or 20+ year old Land Cruisers.

If they're boomers they still might be driving that boxy old Volvo wagon from when the kids were little and it still smells from the dog they took on vacation.

No way. This is commonly posted on here and isn’t true. Drive around old money towns like Greenwich, CT or even less known locations like Litchfield, CT and it’s full to luxury cars, especially Teslas. I live on a street with families that often are third generation business owners and not a single one drives an old car.

Maybe people drove old cars in the 80s/90s but that’s not a thing anymore.

Ah, then you've never been to Aspen. Can't convince me that any car is more common than a Subaru. Also can't convince me that old money flocks elsewhere to their vacation homes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why would anyone want to appear an old money? Why is it considered “better” in America?

Because America is a country for stupidity and brainwashing but not for independent thinking or logic.

And which country is better?

... that's right NONE!!

[Anonymous]

Where do old money people vacation?

[Anonymous]

Anonymous wrote:Where do old money people vacation?

Other people’s homes because they can’t afford to vacation otherwise

[Anonymous]

Anonymous wrote:Where do old money people vacation?

Their entire life is a vacation

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Online clues:
Constantly posting travel photos experiences and meals on FB/Insta "what an AMAZING day we had zip lining in Costa Rica" "I'm in HEAVEN - enjoying tonights Sangria and Paella in PORTUGAL"
Posting about dream school full-freight acceptance to someplace expensive but mediocre "All the hard work paid off - Suzy is THRILLED to be joining the Tulane community"
Posting FB/insta photos at the lacrosse game where their Jimmy is benched with rich families they have met twice

Real Life Clues:

- Whole family dressed head to toe in trendy mall brands (Burberry, Golden Goose, Tory Burch, Aviator Nation, Crew, David Yurman, Louis Vuitton)
- Leased Mercedes or Lexus LX SUV
- Beautiful home adorned with Home Depot window treatments

You sound insufferable but how exactly can you look at a car and know it’s leased? Are you one of those people who just can’t imagine buying a car that’s more expensive than the one you have?

DP here. IME leasers are MORE than happy to tell you all about it and try to convince you that its somehow saving them money.

+1

Old money are typically in Subarus or 20+ year old Land Cruisers.

If they're boomers they still might be driving that boxy old Volvo wagon from when the kids were little and it still smells from the dog they took on vacation.

No way. This is commonly posted on here and isn’t true. Drive around old money towns like Greenwich, CT or even less known locations like Litchfield, CT and it’s full to luxury cars, especially Teslas. I live on a street with families that often are third generation business owners and not a single one drives an old car.

Maybe people drove old cars in the 80s/90s but that’s not a thing anymore.

I live in an old money New England town. 15 year old Lexus is the norm. I haven’t seen a Tesla yet, except when I call an Uber that comes from elsewhere.

Those Lexuses were purchased brand spanking new. Old money people buy nice luxury NEW cars and drive them until they need replacing. Sometimes.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:My cousin married into some serious new money. At the baby shower her MIL led my aunt and mother into the bedroom to show off her jewelry collection, hand woven rugs, silk clothing and listed the price of every item. My mom was suitably impressed and envious.

This is so tacky.

+1

My mom married my old money father and still does cringey things like this. We went to a dinner party and I remember my mom turning over a bread plate to check the make and commented in it. She will never learn how that makes people feel. At least she was pretty.... dad was a total nerd.

To speak about one's parents like this is very low class, whether or not you have money

I disagree - on an anonymous message board. It may be a little crass. However, I think having the social know how to recognize when her mom does something and how it turns the air in the room by the host shows her EQ.

True class is how you chose to act when people aren't watching

Lol. That has nothing to do with class.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have an old money friend. Her grand and great parents are wealthy landowners in Pakistan. Her father is a retired Ambassador. They live in a large farmhouse back home. But she is so thrifty and frugal. She wears clothes from target and TJ max and wears a cloth tote. All of their family wealth is tied in their land and real estate investments. She isn’t flush with cash but grew up in beautiful homes around the world and has a posh education.

Pakistan? 4th World nations don’t count

I admit to having the same thought.

[Anonymous]

I mean how vapid do you have to be for this thing to even matter to you. If you are old money, sure, keep on telling yourself that you are superior by every metric. If you are new money, save, invest well and enjoy your life. Nobody cares, except for a bunch of insecure people.

* I have seen both kind of wealth, good people in both groups and nasty people in both groups. Nothing special about one over the other

[Anonymous]

Anonymous wrote:Simplest answer: subtlety to the outside world.

The oldest money family I know — 5th Avenue penthouse, Hampton summer home, generations of New England boarding schools — might drive by in their 15 year old Jeep Grand Cherokee (but it’s immaculately clean inside), or go to an NYC restaurant in well-worn boat shoes and a generic polo shirt. The mom and dad might be flying first class to London but they walk out to the street to hail a cab themselves to get to the airport. They occasionally hire a gardener at their weekend home but take pride in potting plants and pruning roses themselves.

Whereas my real estate agent who came from nothing but now makes a killing isn’t caught dead walking around New York in anything less than “horse-bit” loafers and branded belts, and takes black cars everywhere. And he wouldn’t dream of getting his hands in the dirt. He actually doesn’t care what plants are in the garden, as long as they’re “nice.”

If they do this in NYC then they are very foolish because ride shares have gutted the cab industry and you cannot rely on a cab coming by in a timely manner. I feel like you are writing about some idealized family in your head, not an actual family that actually does this. In fact, I think much of what is written about “old money” families on DCUM is just some middle class fever dream of how they think the wealthy should behave.