Stealth Wealth is basically not to show that you are wealthy. Now, what is this? What is the problem in showing that you are gifted by god? And, some of you may even say- I don’t show off, it’s my lifestyle. So knowingly or unknowingly you find yourself running this insane race of brands, plastics & fancy things. So, that is why you need to learn the Concept of Stealth Wealth.
First – What is Stealth?
Stealth word comes from defense, where flying objects like a helicopter, fighter jets, and missile movement can be tracked using RADAR technology. So, another option was to fly low to avoid detection. But this is always not possible as hills, trees & birds fall in the way. So Stealth is rare technology whereby the weapon or air bound vehicle cannot be tracked in air.
The use of this technology was seen when Bin Laden was attacked in Abbottabad. US Marines used 2 helicopters to travel 600 km without alerting the Pakistani Air Force. And, when one of the choppers malfunctioned, they themselves blew it so that technology is not stolen by the Pakistani’s scientist. So you can see how precious this technology is.
Why Stealth your wealth?
I was sitting with an old friend and his phone started ringing. On the other end was a caller from Amex Credit Card, who offered him a new platinum card. My friend jumped with joy and asked “can I get the card with Jaipur address? The answer was affirmative so he immediately gave time to collect the documents for a Rs 4000/- annual membership card.
I asked him, “you are not the person who doesn’t know that you should be holding 1-2 credit cards and you already have those. Why on earth you need one more, that too by paying money when free cards exist?
His answer was – “It’s Amex Madhu… I wanted to have this card for a long time since I saw this in my boss’s wallet in 2013. But these guys did not give it in Tier 2 cities like Jaipur. Now they have changed their policy and it is available.”
So it is just a show off thing. No benefits except that now you have one more card to maintain and pay yearly fees too!
This happens with most of us.
We buy labels not clothes.
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Lot of us buy concert tickets but do not attend the free events even the same musician is playing in both the events.
We get the largest size box size gift to our kid when he/she is attending a birthday party in neighbor or with school friends. The kids also get tied up with our show off nature. 2 wheelers, as we visit barber in our SUV (Yes 1 out of 5 vehicles sold in India now is SUV and 31% car owners have more than 1 vehicle – It’s pathetic for the fact that we import 90% of our oil).
2 wheelers are for the middle class- right? We visit barber in our SUV (Yes 1 out of 5 vehicles sold in India now is SUV and 31% car owners have more than 1 vehicle – It’s pathetic for the fact that we import 90% of our oil).
Then how is it barber’s fault if he charges Rs 250 for a Rs 50 haircut?
When Forbes came out with its Top 10 Wealthiest Chinese in China, there was huge outrage by the public and a massive anti-corruption crackdown happened. Half of those guys fell off the list or went to jail within a couple years. Being a communist country they are not allowed to be publically seen as rich. The wealth needs to be hidden. That’s States forced Stealth wealth policy I guess.
What are the disadvantages of Wealth Show Off?
- Showing off is a disease which has many smitten patients in the surrounding. You will quickly form a circle and these guys not only waste their own money and time but induce you to also compete for no reason. There is a school in Jaipur where they divided kids into houses (all schools do it for activities) and named them Mercedes, Audi, SUV and “Other”. This was as per the vehicle owned by kids family. Thank god few parents took notice of it and complained. But see none of the teachers or principal could feel the wrongdoing. It’s an invisible disease where you start enjoying your sickness.
- If you are spendthrift, you are not getting the best deals. Marketers know you can be tempted by showing fake recognition. So when you are looking for a cheap t-shirt to be worn at night they will make you choose from Tommy Hilfiger & Calvin Klien. So you know a Rs 200 Tshirt is what you need and will be most comfortable but you get it for Rs 2000/-.
- You will be asked money by friends, relatives & co-workers. It is good to be of help but the help should not disturb your monthly budget and committed savings.
- You will be treated superior by people whom you consider equal like your friends especially college friends. Some of them may choose to stay away from you so that they don’t feel belittled in front of your fake success (Ya they think you are just born lucky with no talent). And, some may just be with you to enjoy on your expenses.
- Extra payments: People who show off get to pay extra … everywhere right from car garage to your doctor or accountant. Even the beggar won’t expect less than Rs 100/- whereby he is happy to get Rs 5 from others.
- You may also be referred as a snob or unsocial. Your continuous bragging about what you have or what you believe is repetitive and noninspiring. I am sure you have some of these friends who just brag how they made money or how much they know about cars or foreign
How do rich people in developed countries follow Stealth Wealth?
They simply keep the money a secret. The children don’t know (yes even kids don’t know the what his father’s or father in law’s valuation). The parents don’t know. The friends don’t know. The coworkers don’t know. The extended family doesn’t know. Most prefer to live in nice, ordinary houses and drive nice, ordinary cars. For some, this looks like a small bungalow with a hatchback in the driveway. The common denominator is all are capable of living out “champagne wishes and caviar dreams” if desired. The thing is, most don’t. To do so would attract attention.
How can you practice Stealth Wealth?
The biggest advantage of having a stealth wealth is:
- It’s real.
- It saves you from wasting time in keeping up with Sharma or Mrs. Baatliwala.
- Saves time which can be used to develop a hobby, spend time on what you like and make more money.
- Aim is to share experiences. It is not accumulating and filling wardrobes.
- It saves discontent. Helps you love your work, surrounding, and family.
It’s good you are rich but it will add on to your persona if you also carry frugalism around your life. In our country, still, people value simplicity over show offs.
A Guardian’s article on Stealth Wealth Says
“Stealth wealth does not mean a diminution of luxury or quality, merely a recognition of where it truly resides. It isn’t about cutting back, as it means spending when it really matters, but not bothering when it doesn’t. It’s about wearing the fur on the inside of your coat and never opting for the flash and dash of a Versace number. The new rich don’t want to show off so much as enjoy their carefully amassed fortunes.”
Stealth wealth also explains choices about cars, clothing, jewelry, and other items. You cannot just buy because you can afford it. No, it’s unethical. You have to know that unnecessary consumerism is depleting the natural resources. Leave some for future generations too. Be responsible.
Hope you like this simple explanation of being minimalistic and use your wealth to enjoy life and not complicate it.
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