How can you tell if someone used to have money, but no longer does?

[Anonymous]

Anonymous wrote:My in-laws have a friend who is penniless but used to be a world-class, internationally-ranked equestrian.

Does that even pay?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Honestly, a lot of times losing that much money and being that downwardly mobile is the result of mental illness.

This--usually mental illness, including addiction issues.

Having spent some time in a very expensive rehab or boarding school for troubled teens is often a sad sign.

It can also be the cause or exacerbate low level existing mental illness.

[Anonymous]

Their last name is Faulkner.

[Anonymous]

They rent a fancy place and wear nice clothes for like 2-3 years in their 20s in the hope of snagging a wealthy guy who believes the front.

[Anonymous]

They are a house/neighborhood snob.

[Anonymous]

My great grandmother was old money. her H died and it went to her son, my grandfather.

My grandfather died when my mom was an infant and his brother took all the money because my mom was a girl and my grandmother was female and not blood and my great grandmother was female so it could not go to her.

My great grandmother raised my mom with my grandmother.

They always spent money on "things that mattered", they had to live humbly but would have anyway, they always knew perfect etiquette and lived it.

My mom still went to private schools and college. Not sure how they paid, maybe it was scholarships.

I ended up growing up with lots of old money around me (and we were no money) but my grandmother and my mom definitely followed the old money path on the way they acted.

[Anonymous]

They are an Ivy League grad still renting an Apt at age 70

[Anonymous]

The castle roof leaks.

[Anonymous]

You close up the other 50 rooms and don’t even know what’s in them anymore.

[Anonymous]

Their home on the water is a B&B and they live in the master suite.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My in-laws have a friend who is penniless but used to be a world-class, internationally-ranked equestrian.

Does that even pay?

No. You have to have lots of money to be an internationally ranked equestrian.

[Anonymous]

Anonymous wrote:They live in a motel in a town they own.

[Anonymous]

Renting out rooms and the basement in their $3m custom
in a posh neighborhood - just to keep up with RE taxes and
bare minimum home maintenance. I personally know a few
of the like in the area.

[Anonymous]

By and large most money who had money keep it. What you are referring to is people who played the game and time run out. You can act wealthy for a good 10-20 years but then something will catch up with you and you start seeing the landscaping go down, cars get older and in repair (real money will keep cars a long time if it’s safe and running good, I’m talking about obvious need of repair), small vendors start talking (I knew a “wealthy” woman who had three dry cleaners red flag her for unpaid accounts), the house is empty, the trips are to other peoples second homes, etc.

[Anonymous]

Anonymous wrote:By and large most money who had money keep it. What you are referring to is people who played the game and time run out. You can act wealthy for a good 10-20 years but then something will catch up with you and you start seeing the landscaping go down, cars get older and in repair (real money will keep cars a long time if it’s safe and running good, I’m talking about obvious need of repair), small vendors start talking (I knew a “wealthy” woman who had three dry cleaners red flag her for unpaid accounts), the house is empty, the trips are to other peoples second homes, etc.

+1

Very perceptive! Well done.