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Reply to "Why are rich people in this area so cheap?"
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[quote=Anonymous][quote=Anonymous]A lot of money in this area is also nouveau riche. People who grew up with more modesty and who aren't used to excessive lifestyles simply carry over habits they grew up with. When you grow up in a household where your parents spend $2000 on a bottle of wine during a dinner like it is chump change, of course you'll think nothing about spending $500k on a car later on. However, if you become wealthy by becoming a scrappy entrepreneur who started with nothing, and built wealth from scratch you tend to have vastly more conservative habits. People who build wealth are more concerned about protecting it than people who grew up with wealth. [/quote] Which is why some families loose their generational wealth. At some point somebody works hard for it but when a descendant who doesn’t appreciate it or know how to manage it comes around, the wealth is gone. [/quote]
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