Stealth Wealth: How The Rich Hide In Plain Sight - Bitter to Richer (2024)

Stealth wealth is a hot topic. Some people love the idea, and follow it religiously, whereas many others are confused. Some can’t understand why anyone would want to hide their wealth. After all, isn’t the whole point to show it off? The average person may not fully understand what stealth wealth even is. Well, I’m here to break it down for you – what it is, the potential benefits, and how you can actually pull it off. Without further ado, let’s dive right into stealth wealth!

What Is Stealth Wealth?

Stealth wealth is basically just building up your finances, but not drawing attention to it or making many people aware of it. This involves people thinking you have less than you do. That will happen with stealth wealth because of things like living beneath your means, not sharing details about every purchase you make, and not advertising all the assets you have to your friends and family. Stealth wealth isn’t lying, although you could technically do that. Stealth wealth is just about not drawing attention to it, shoving it in someone’s face, or confirming your financial status.

Why Should Anyone Care About Stealth Wealth?

There are a multitude of benefits that come from not having everyone know the details of your finances. We’ll get into those benefits in a moment. For now, just know that the main takeaway is that nobody will know your business. They may be curious, or have questions, but the nosiness and judgment that comes with knowing how well you’re doing won’t be present.

It’s Okay To Be Proud Of Your Financial Skills And Habits

Before going over the benefits, I do want to mention that it’s perfectly normal and understandable to be proud of your accomplishments. Whether you’ve worked hard to get a job where you make a lot of money, have lived an incredibly frugal lifestyle, or have made amazing investment decisions, it’s okay to be proud of that and want to share it with someone. However, in my opinion, that is best shared with your spouse – not anybody else. There are issues that come with sharing too much information with others.

The Benefits

Not everyone will adopt a stealth wealth lifestyle, but it may be worth considering. Whatever way you’re leaning now, let’s dive right into all of the benefits you’ll be able to enjoy with stealth wealth, and see your stance afterwards.

People Don’t Ask For As Much

A huge boon, at least for me, is that people ask me for fewer favors. It seems that the better I’m doing financially, the more people think I have the luxury of being able to help them. Don’t get me wrong, I try to help others as much as I can. However, just because I’m financially stable, people assume I suddenly have enough to donate large sums, get them out of their financial woes, and even fund their fancy dinners (if you dine out with coworkers or friends, please don’t assume they’ll pay just because they make more money).

Beyond that, a lot of people may even think you have more time to spare because your finances are in check. I don’t know about you, but I sure have enough on my plate!

You, By Definition, Save More

When you’re not falling into the trap of showing off your money, you will automatically save more. You won’t be buying an overly fancy car, and you won’t end up buying more house than you need. Additionally, there is no need for jewelry and clothes that only serve to be status symbols. I never understood that, but if the average person dropped that expense then they’d be able to save a reasonable amount of money.

It’s Easier To Know You Have Real Friends

When people don’t think, or at least don’t know, that you’re well off financially, then they don’t have as many unfair expectations for you. It becomes much easier to just have friends who are friends, who expect nothing more from the relationship than your friendship. I’m sure everyone, at some point in their life, has met someone who uses friendship as a way to leverage favors from other people. I think that’s classless and unbecoming, and something to avoid.

Fewer People Will Try To Rip You Off

It goes without saying, but if people don’t know you’re wealthy then they won’t try to rip you off as often. There will always be those looking to make a quick buck, but if they know you have money then it makes you a target. If you have a lot of money, and advertise it, many will simply look at that as an opportunity to overcharge or exploit you.

You Won’t Seem Cheap

This is a weird one, but if you don’t have a lot of money then people are less likely to view you as a cheapskate. Instead, they’ll just think you’re trying to be responsible and frugal. Meanwhile, if they know you have money but aren’t willing to spend money on some item or for eating out, then they’ll give backwards glances and say you’re just cheap. Of course, someone else’s opinion shouldn’t affect you, but it’s nice not having all the flack.

The Key Aspects To Pull It Off

Now, in theory stealth wealth isn’t hard to pull off. However, it does require a bit of discipline and commitment in order to make it work properly.

Don’t Reveal Your Income – Or Hint At It

This is the biggest issue a lot of people have, particularly people who like to brag or show off a bit. If you don’t want the headache from everyone knowing you’re well off, the first thing to do is simply avoid telling them. Don’t tell them how much you make from your day job, your side hustle, or any businesses you may have. Also, don’t brag about how well your investments are doing.

Just go about your day-to-day life, without dropping all of that information. Try not to even hint at it. You may think you’re being sly, but people will pick up on it. Even if you’re not a proponent of stealth wealth, there is no point in constantly dropping hints about your affluence.

Drop The Social Media Dragging

Stop showing off on social media. This seems to plague all platforms, especially image-based ones like Instagram. It’s fine if you want to share highlights of your life or good moments. After all, sharing and communication are a part of these platforms. However, don’t go overboard and try not to be hyperbolic about how well off you are on social media. That’s a recipe for disaster.

Be Humble About Your Attire

As I mentioned earlier, stop dressing up with brands just for their logo so that you can show off. Dress the way you want to. Pick items that are comfortable, make you look good, and actually make sense given the price. A lot of these high-dollar brands don’t actually produce high quality merchandise. In other words, some of that expensive stuff you may be buying – you’re just paying for the logo.

Buy Only The Amount Of House You Need

Perhaps this goes without saying, but don’t buy more house than you need. Buy a house, within your budget, that satisfies your needs. In fact, it’s perfectly fine to buy a little bit extra so you have some breathing room. I’m not saying don’t buy in a nice neighborhood or a house that is comfortable for you and your family. However, there is probably no need to buy a 10 bedroom house if only four people live there. Sometimes less is more – much more. After all, you’ll need to do a lot of extra cleaning for that – or pay someone else to.

Don’t Hand Out Your Address

It’s best if people don’t know your address unless they need to. More often than not, they’ll immediately look it up online and make judgments about your wealth based on it. If you buy just what you need, that can mitigate some of this.

Relax On The Car Payments

This is in the same vein as going easy on your house. Buy a good, reliable car, but don’t go overboard and get a sports car you don’t really need. I can understand it if cars are your thing, but for most people the initial joy will wear off after a few weeks. At that point, you’ll be left with a nasty payment and an advertisem*nt on wheels telling people that you’re well off.

Stay Humble & Praise Others

Don’t get co*cky. Rather, praise others for their accomplishments – even if theirs are minor. You should celebrate wins, and don’t point out that you have more money or have done better. Be happy for other people, and don’t try to minimize what they’ve done.

Conclusion

If you’re a fan of stealth wealth, let us know any tips you have for doing it in the comments. Alternatively, let us know if you don’t like stealth wealth and why – it’s certainly not for everyone. For more content like this, and a free budgeting template and financial goals worksheet, be sure to sign up for the Bitter to Richer newsletter!