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

[Anonymous]

Anonymous wrote: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.

This is called house hacking and it's a great way to build wealth. A little unusual in a $3M house but I'm still going with no, this is not a sign of the downwardly mobile.

[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.

How would you even know this? God, DCUM makes me want to keep to myself, just knowing how gossipy everyone truly is when they can hide behind a mask.

[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?

That has nothing to do with it. It takes money to get to that level in that sport

[Anonymous]

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

[Anonymous]

Anonymous wrote:Their vacations consist of visiting other people's vacation homes.

This is true I was never rich but had a significant decline in income and my son and I only visit relatives for vacations (they are well off).

[Anonymous]

Live in subsidized housing but keep to themselves and look different
Kid is on free lunches but hangs out with upper middle class kids at school
Vacation at their relatives’ vacation homes but still take an international trip every once in a while for which they scrimp and save
Don’t go to amusement parks for vacations like other people of their means
Use EBT card to shop at Whole Foods

[Anonymous]

Cancels home delivery newspaper
Fewer Amazon trucks go to their house
Downgraded full family country club membership to porch membership for one person

[Anonymous]

Anonymous wrote:

Anonymous wrote: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.

This is called house hacking and it's a great way to build wealth. A little unusual in a $3M house but I'm still going with no, this is not a sign of the downwardly mobile.

Truly wealthy people aren’t “house hacking.” If someone is, it’s because they have to rebuild wealth they lost. There is nothing wealthy about strangers living in your house lol.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

This is called house hacking and it's a great way to build wealth. A little unusual in a $3M house but I'm still going with no, this is not a sign of the downwardly mobile.

Truly wealthy people aren’t “house hacking.” If someone is, it’s because they have to rebuild wealth they lost. There is nothing wealthy about strangers living in your house lol.

I think the PP was saying that it could be a sign of someone who was never wealthy but is using house hacking to build their wealth the first time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Makes a dress out of curtains and says "As God is my witness, I'll never be hungry again."

Lol

+1. Well done!

[Anonymous]

Anonymous wrote:Cancels home delivery newspaper
Fewer Amazon trucks go to their house
Downgraded full family country club membership to porch membership for one person

Nah, that's just being smart. Haven't had a paper delivered in decades. A lot of Amazon merchandise is delivered by third parties. Family probably not using it often enough to justify a family membership.

[Anonymous]

Anonymous wrote:

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.

DP. Don't understand the house empty part.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Cancels home delivery newspaper
Fewer Amazon trucks go to their house
Downgraded full family country club membership to porch membership for one person

Nah, that's just being smart. Haven't had a paper delivered in decades. A lot of Amazon merchandise is delivered by third parties. Family probably not using it often enough to justify a family membership.

They’re real life examples of an old money real estate dynasty that dwindled to a life insurance salesman. He kept the country club membership to maintain contact with his clients.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

DP. Don't understand the house empty part.

The person can’t afford to furnish the house.

[Anonymous]

Anonymous wrote:

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.

How would you even know this? God, DCUM makes me want to keep to myself, just knowing how gossipy everyone truly is when they can hide behind a mask.

I feel like trips to other peoples second homes (or first homes in desirable areas) is a hallmark of being wealthy and smart.