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I was speaking with a client recently who sounds like a fairly sharp person and, I imagine, is reasonably affluent. He lives in a decent neighborhood in a nice suburb. How much debt he has is open to speculation. Nonetheless, we were talking about all kinds of random stuff and suddenly started discussing the following- what can someone do to disguise their wealth? Interesting topic and I imagine this can go in a lot of directions.

For instance, if you never mow your lawn, you might look like your broke. On the other hand, you might upset your neighbors quite a bit. So that may be going too far.

Driving a modest used car that wasn't expensive even when new might be ok. But if it makes a lot of loud sounds like it desperately needs repairs, that might also offend the neighbors. Even if it doesn't offend them, you will be driving something that might not be that safe.

So what does everyone think? There are plenty of obvious things like not wearing fancy clothing and jewelry. One other out of the box thing I thought of is someone who brags about their coin collection (like it's worth millions) and then shows up at a coin club or show with a bunch of coins worth less than $10 each. What else can people come up with?

When it comes to disguising one's own situation most folks are their own worst enemy. Be private. Live humbly. Don't be ostentatious. Don't talk about private stuff (and almost everything is private stuff) . Benjamin Franklin's motto - "Mind your Business". Most folks never cross my threshold, unless we REALLY know them. Don't want them to know what we have. You can be friendly with tea or lemonade on the front porch or back deck. Keep valuables out of sight in case they need to use the bathroom.

Walk the walk and talk the talk. I never talk about my pm's, with anyone. I keep my cars clean but in a shtf situation wouldn't for a while. When people compliment me on them, I tell them it's a 2005 but I take good care of it. Bought it used for cheap cuz I can't (I really mean - won't) afford new. Am proud that I buy stuff at garage sales and thrift shops in nice suburbs (books, tools, clothes when applicable, etc). Only use library for non-sensitive items. Avoid debt and payments like the plague. I've taken out car loans before, and then I pay it off in a few months so even the car dealer/salesman don't know I have a few dollars. Poor talk to get the best deals. Nobody cuts their prices for rich guys! I drive my cars till they are no longer economically feasible to drive. Never tell anyone that everything's paid off (oops, just did). Don't have name or address on pm receipts. Use a P.O. box for "private" mail. Pay cash for "sensitive" supplies which you pick up and deliver yourself. Use out of state or out of area contractors who understand silence is golden and dead is forever.

Several of my neighbors in town drive new leased Beemers or Rice burners and flip them every 3 years. Their kids drive nicer cars than ours. I just smile and compliment them on their cars. All the while, I know they're living month to month, and they don't know what I have...

hobo finds wrote:http://nypost.com/2015/02/04/frugal-ex-janitor-leaves-millions-to-local-library-hospital/

Now that's what I'm talking about! Great example!

The car is the easiest. If you do that alone, I would say that 90% of people would assume you are less affluent than you are.

As the op mentioned though: don't scrimp on safety! Also reliability is a premium also. But there are plenty of safe and reliable vehicles that are half the price of the BMW/Mercades/whetever version.

barrytrot wrote:The car is the easiest. If you do that alone, I would say that 90% of people would assume you are less affluent than you are.

As the op mentioned though: don't scrimp on safety! Also reliability is a premium also. But there are plenty of safe and reliable vehicles that are half the price of the BMW/Mercades/whetever version.

True. My 2005 is a Chevy Suburban half ton. Quite nice, but very durable, built like a lightweight tank, tows like a champ (pulls 10,000 lbs), and so far quite dependable. We won't talk about the other vehicles or SHTF machines...

This will probably come off wrong, and I don't mean to derail the thread, but isn't anybody proud of what they have worked so hard for beside me?

I/We enjoy some nicer things in life because we've earned them. I say don't be ashamed/scared of what you have, just don't be stupid. Hell, you can't take any with you....

We don't flash what we have, and we NEVER talk down to those who are less fortunate.

Deal

NotABigDeal wrote:This will probably come off wrong, and I don't mean to derail the thread, but isn't anybody proud of what they have worked so hard for beside me?

I/We enjoy some nicer things in life because we've earned them. I say don't be ashamed/scared of what you have, just don't be stupid. Hell, you can't take any with you....

We don't flash what we have, and we NEVER talk down to those who are less fortunate.

Deal

I agree with Deal. I'm very proud of what we've attained thru hard work and saving. I'm not ashamed or scared, just prudently private. I, like Deal am not being stupid by going around letting anybody know what I have, unless they're "select" family members (yes, I have some dirt bag relatives too) or very close friends. We help our neighbors, especially those who are less fortunate. We always try to remember, we could just as easily be in their place. That said, we view everyone as community, and a potential ally or a potential threat. Only dire conditions will let you know their true nature...

Live well below your means. Appearance is everything. I used to drive a '92 Tercell 'till it got to just under 1/4 million miles (03/14). I don't have to tell you what it looked like. Now it's an '05 Camry family car. My winter jacket is a 10+ year old L.L. Bean. I should post a picture of, it's so thread bare and tore up. My wife uses Wahl electric clipper on my and my son's hair and it looks like it. All our clothing comes from thrift stores so nothing is new. Repeat, NOTHING looks new, except the $9 coffee maker I got for Christmas. Anyone looks at us (including our well-to-do next door neighbors) and they see a clean, self-respecting, lower middle class family with little to nothing to spare.

Those who know I send my kids to private school are doubly convinced of the same. This includes our financial counselor who can't figure out how we do this with cash flow. I tell him compact fluorescent bulbs, thermostat set to save, and wise shopping. I want this SOB busting his arse off to get me good investments for retirement. So far he's doing well.

That said, all that's been posted above by Shazbot, Deal, Barry, and Hobo is straight up good stuff.

Thanks John for the kind words...

To sum it up, the best way to disguise wealth is to keep it, rather than spend it.

+1 on brian0918's post.

That is the absolute key.

Especially the part about "spending what you don't even actually have" i.e. living on credit card.

barrytrot wrote:+1 on brian0918's post.

That is the absolute key.

Especially the part about "spending what you don't even actually have" i.e. living on credit card.

I agree. Live within your means, keep what you earn, and if you do spend money, spend it wisely, on tangibles, capital goods and wealth or equity building assets.

Buy /real/ quality clothing. My Carhartt pants are 3 years old, and look it, but are still serviceable. My jacket is 5 years old. Go right on down the list, I buy for durability, not looks or fashion.

brian0918 wrote:To sum it up, the best way to disguise wealth is to keep it, rather than spend it.

Well said, Sir!

A guy I know is worth about half a billion dollars. He drives a twenty year old truck, lives in a modest house, and dresses like a working man. He has no need to impress others.

I try to do the same.

Wealth at what level?
Under $10,000. Create a mini warehouse at home. After creating security for storage.
100,000. Real estate, active farm land or timberland.
millions- I would have full working estate with multiple residence and equipment.

you can always put it into silver or gold then bury it. you disguise it from yourself a bit this way as well.

I don't wear suits, I wear jeans most of the time. I never buy new cars, always loaded but never luxury brands and when I buy a car I liberally mention it was used and I got a good deal. I never put a title on my business cards. I also buy modest homes and try to control the quantity of stuff I own (now if I could get my girls to control the quantity of toys I'd be set)

Treetop wrote:you can always put it into silver or gold then bury it. you disguise it from yourself a bit this way as well.

This helps to keep assets off the books as well. People are much more likely to sue (or governments more likely to seize) if you have discoverable assets.

A jar of coins buried in the chicken coop doesn't have a paper trail with monthly statements.

How about brown bag your lunch?

When I see someone driving an expensive car or living in a huge house I just automatically assume they're broke. I think you have to look at the smaller things.

Do they get haircuts every 4 weeks? Are their dogs and cats going to spas? Kids have the latest smartphones? Those things speak of disposable income.

The whole car thing is sorta funny. In 1990, I changed careers and got into insurance. I needed to dump my pickup truck for something more suitable, and found a '79 Jaguar XL in cocoa brown that was sexy and conservative at the same time. It had a million miles on it, a thousand quirks...including an accelerator pedal that would get stuck open whenever you flipped on the defroster..., well hidden rust spots due to the body paint, and I paid 4 grand for it.

I'd pull into a client's driveway and they would say, "Whoa...you must be doing very well! You know, we have an unattached daughter still living at home...", jokingly.

There was my $4000 car parked next to their $20,000 Nissan. Perception becomes the Reality.

hair cuts? I must be doing well I get my hair cut every week...

Good God...I shave once a week. Haircuts every 6 months or so.

Though I have been known to hack at it myself with an old pair of scissors.

But...yeah you must be doing ok if you can afford $1000 year for haircuts. Unless you have a wife or girlfriend in the biz...

no.... 10 bucks a week... plus 2 or 3 bucks a week tip... I should write it off on my taxes... it is a job requirement where the heck are you going for 20 dollar hair cuts?