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5 common myths about affluent people and their money
June 28, 2019

From Fast Company:

At the moment, it might be easy to draw conclusions about rich people based on the billionaire in the White House. But in reality, most affluent Americans are much less inclined to wear their wealth – or talk about it – than Donald Trump. The people more likely to flaunt their wealth are actually the ones with less money in the bank. "The most extravagant homes I've been in have belonged to people who, four out of five times, had to move out because they couldn't afford it," says wealth advisor Natalie Schmook.

Here are some of the myths we believe about how rich people spend:

  1. THEY DON'T WORRY ABOUT MONEY

How do affluent people who aren't born into money strike it rich in the first place? By worrying about it. "I see people with $10 million, and they can tell you exactly how much they're saving each month," Manisha Thakor, the VP of financial education at wealth management firm Brighton Jones, told me recently.

Continue reading at Fast Company...

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