Reply to Is it normal to have no idea about family money?

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[quote=Anonymous]I know a couple of families that live modestly despite owning successful businesses.  One is a MIT graduate with a well known business.  He and his wife just aren’t interested.  The type of guy with a bad haircut and couldn’t tell you where his clothes come from. Small house with furniture that nobody is going to replace no matter how outdated.  They love camping and RV travel.

This is an extreme case but they are out there.   Everyone takes comfort in different ways.

[quote=Anonymous][quote=Anonymous][quote=Anonymous]We have "tens of millions" but live in a modest 3 bedroom home. Our kids share a room, and we don't drive flashy SUVs or anything. That's just not the lifestyle we want, and not how we want to raise our kids. Our kids have no idea. [/quote]

Do you have in a charitable trust, or are you planning to have a random heir waste it? [/quote]

The only way this is realistic would be if they lived in NYC and the "modest 3 bedroom home" is a three bedroom apartment on Park Avenue.

The creep of affluence is very real because people want to make themselves comfortable. No one is worth tens or hundreds of millions and living in a modest bungalow and doing nothing but living a very simple life to make a point or to fee more "moral." Much more typical is a family with the appearance of having several million in net worth but in reality closer to 10M, but they still live a solidly upper middle class life and in Bethesda or NW DC, not a split in Silver Spring or Rockville.

There is certainly a point where the utility from spending more starts to decline but at that level we're still talking about a $1M waterfront property versus a $10M waterfront property or driving a Subaru Outback instead of a Porsche. Not driving a beater Ford sedan and living in a modest condo.

OP misunderstood her parents or her parents embellished a story or the whole thing is made up. Real life isn't a Nicholas Sparks novel.
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