Do you know any wealthy people who actually drive low-key cheap cars?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

How do you think those people got rich in the first place? That kind of mindset doesn't suddenly end.


They got rich because their parents were rich. Duh.

Not all.

Are you saying you’re the exception? Fine. But most wealth is inherited. In my experience, wealthy people have nice cars. The idea that rich Americans are driving around in beaters would be cool, but, in fact most drive luxury cars. And like another PP said, they have multiple cars. Yes, I understand there are exceptions, let’s not act like that’s the norm.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

How do you think those people got rich in the first place? That kind of mindset doesn't suddenly end.


They got rich because their parents were rich. Duh.

Not all.

Are you saying you’re the exception? Fine. But most wealth is inherited. In my experience, wealthy people have nice cars. The idea that rich Americans are driving around in beaters would be cool, but, in fact most drive luxury cars. And like another PP said, they have multiple cars. Yes, I understand there are exceptions, let’s not act like that’s the norm.

No, most wealth is not inherited and most wealthy Americans are not driving around in bank-owned BMW, Audi, and Mercedes.

https://www.investopedia.com/articles/managing-wealth/022817/which-cars-and-trucks-do-wealthy-americans-drive.asp

[Anonymous]

In my limited experience:

Inherit money? Nice daily driver cars. Think - Audi, Volvo, BMW, Mercedes.

New money professional class? For example, a Big Law lawyer, doctor, or executive at a Hollywood studio. Again, nice daily driver cars. Appearances matter.

Self-made business person? Especially real estate investing or commercial businesses. Average daily driver cars - think Toyota, an old Mercedes, or pickup truck. They also usually have a fun "weekend" car in the garage (Porsche, Corvette, convertible, vintage muscle car, etc.)

I think you need to analyze a few different dimensions. How they got their money and industry really matters.

[Anonymous]

It just depends on if you like cars. I don’t care as long as it goes when you press the gas. But I spent oodles on curtain fabric. To each their own.

[Anonymous]

Anonymous wrote:In my limited experience:

Inherit money? Nice daily driver cars. Think - Audi, Volvo, BMW, Mercedes.

New money professional class? For example, a Big Law lawyer, doctor, or executive at a Hollywood studio. Again, nice daily driver cars. Appearances matter.

Self-made business person? Especially real estate investing or commercial businesses. Average daily driver cars - think Toyota, an old Mercedes, or pickup truck. They also usually have a fun "weekend" car in the garage (Porsche, Corvette, convertible, vintage muscle car, etc.)

I think you need to analyze a few different dimensions. How they got their money and industry really matters.

Self-made small businesspeople have the flashiest cars. They have something to prove. And real estate is flashy if they are on the selling side. Realtors all have really nice cars to take clients around in (and the women always have nice nails). Inherited money usually has more low-key cars. Nothing to prove.

[Anonymous]

Anonymous wrote:

Anonymous wrote:In my limited experience:

Inherit money? Nice daily driver cars. Think - Audi, Volvo, BMW, Mercedes.

New money professional class? For example, a Big Law lawyer, doctor, or executive at a Hollywood studio. Again, nice daily driver cars. Appearances matter.

Self-made business person? Especially real estate investing or commercial businesses. Average daily driver cars - think Toyota, an old Mercedes, or pickup truck. They also usually have a fun "weekend" car in the garage (Porsche, Corvette, convertible, vintage muscle car, etc.)

I think you need to analyze a few different dimensions. How they got their money and industry really matters.

Self-made small businesspeople have the flashiest cars. They have something to prove. And real estate is flashy if they are on the selling side. Realtors all have really nice cars to take clients around in (and the women always have nice nails). Inherited money usually has more low-key cars. Nothing to prove.

I'm talking about real estate investors and landlords. Tend to be more low key.

RE agents have flashy cars because it's a tax shelter.

[Anonymous]

Anonymous wrote:My parents at multi-millionaires (owns a healthcare company and have non-firm investments of 10M+). They drive a prius and a chevy bolt. Admittedly they bought fully loaded and new, but these aren't considered rich person cars. They tend to drive the cars into the ground.

Prius drivers are definitely common among the rich in some circles, especially liberal-leaning ones. Does anyone remember the episode of Curb Your Enthusiasm where Larry goes to a gathering hosted by some fellow Hollywood writers/producers/directors and everyone is driving a Prius and they get their cars mixed up in the fancy community?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:In my limited experience:

Inherit money? Nice daily driver cars. Think - Audi, Volvo, BMW, Mercedes.

New money professional class? For example, a Big Law lawyer, doctor, or executive at a Hollywood studio. Again, nice daily driver cars. Appearances matter.

Self-made business person? Especially real estate investing or commercial businesses. Average daily driver cars - think Toyota, an old Mercedes, or pickup truck. They also usually have a fun "weekend" car in the garage (Porsche, Corvette, convertible, vintage muscle car, etc.)

I think you need to analyze a few different dimensions. How they got their money and industry really matters.

Self-made small businesspeople have the flashiest cars. They have something to prove. And real estate is flashy if they are on the selling side. Realtors all have really nice cars to take clients around in (and the women always have nice nails). Inherited money usually has more low-key cars. Nothing to prove.

I'm talking about real estate investors and landlords. Tend to be more low key.

RE agents have flashy cars because it's a tax shelter.

Nah, they have fancy pickups that say "I am down with the people who work on my buildings but I also have 75,000 + to spend on a new Ram, Silverado, or F-150"

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm OP. I just recalled this sort of smug couple in the neighborhood who waxed on how they didn't like cars, cars were just point A to point B, blah blah, had an old Honda CRV and Subaru. As soon as one of their parents passed away and they got a nice inheritance, they moved and bought a new BMW coupe and Land Rover SUV. lol

Of course. New money.

Stop making lame class distinctions. Money is money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

How do you think those people got rich in the first place? That kind of mindset doesn't suddenly end.


They got rich because their parents were rich. Duh.

Not all.

Are you saying you’re the exception? Fine. But most wealth is inherited. In my experience, wealthy people have nice cars. The idea that rich Americans are driving around in beaters would be cool, but, in fact most drive luxury cars. And like another PP said, they have multiple cars. Yes, I understand there are exceptions, let’s not act like that’s the norm.

No, most wealth is not inherited and most wealthy Americans are not driving around in bank-owned BMW, Audi, and Mercedes.

https://www.investopedia.com/articles/managing-wealth/022817/which-cars-and-trucks-do-wealthy-americans-drive.asp

Did you even read the article you posted??

For people earning over $500k:
F150 (truck)
LandRover (two models, it doesn’t specify which)
BMW X5
Lexus RX350

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm OP. I just recalled this sort of smug couple in the neighborhood who waxed on how they didn't like cars, cars were just point A to point B, blah blah, had an old Honda CRV and Subaru. As soon as one of their parents passed away and they got a nice inheritance, they moved and bought a new BMW coupe and Land Rover SUV. lol

Of course. New money.

Stop making lame class distinctions. Money is money.

Seriously....”new money”...lol. I remember that term from the old days. I’d rather be “new money” (EARNED) than old money (inherited and, in some cases, running out...)

[Anonymous]

Yes me, drive Lexus RX 350.

[Anonymous]

No. I manage several partners with net worth over 50m and they all have several, very nice cars. Lots of Teslas and Mercedes

[Anonymous]

Lobbyist friend with doctor spouse--was driving a two door Ford Echo for 15 years.

[Anonymous]

My brother is a wealthy CEO of a large contracting company. He drives a really old Ford Explorer. But they own three houses and travel a lot.