What is it like to be discreetly wealthy?

I believe that with our countries abundance of people/ families enjoying a net worth of $1M plus to be in the millions that most millionaires are not advertising their wealth.

Most of my clients in the $1 to $3M net worth area still live a very middle class lifestyle.

When you've attained your wealth slowly (it took me 9 years to hit $1M and 4 years to hit my second and almost as long for the subsequent ones) you stick with what works.

Which usually means saving a large portion of your income to invest it in real estate, equities, and building your small business as the top 3.

I have 3 residences Vegas & South Beach condos and a home in Michigan in the Detroit Burbs. None of my residences are worth more than $750k, and many people in condos in Vegas/ South Beach are 2nd and 3rd residences and neighbors don't know if its your first or 5th nor care. I have a few vehicles but I purchased my Escalade 2 years old and have had it for 2 more and my other vehicles are Dodge pickups, a Jeep and a Chrysler 300, 2 on leases and 2 are 3 and 4 years old. No new Ferrari but I will buy one 4+ years old once I hit another long term financial goal close to completion that's taken 5 years and the reward of the car is only 25% of profits.

I fly first class on upgrades or only on long flights due to height, wear a few nice suits but none for $5k, most clothing is a mix of Nordstrom at high end down to Kohls which is fine.

I don't go on long vacations usually 3 days, or incorporate a vacation around my business trip seeing clients if in a cool city.

I like nice restaurants but on occasions only do I go to somewhere like Piccaso's at the Bellagio. You'll find me at Outback or Carabas most often or other decent chains like Ruth's Chris. I'm not racking up big bills cause I don't drink and neither does my wife.

We don't spend money on jewelry except for a Rolex I wear that was a gift from a wealthy client and my wife's ring we don't wear it otherwise.

I don't own a boat or a plane which will drain you of wealth faster than watching the gas gauge on an offshore boat.

I enjoy financial freedom, meaning I have the time and money to do what I want to do everyday. I absolutely love my investments in real estate, equities and small businesses so much that they're hobbies not work to me or I'd of retired and found new ones. People wonder how some of my clients reach high net worth levels so quickly such as $10M in 10 years etc and why they continue to work 50 hours per week? That is an easy answer. They are, as I am, passionate about what we do for a living and the money is just a way to keep score. When your doing what you love your passion shows, your more energetic, more creative, more motivated. You need that focus, drive, confidence and positive attitude and it shows. Its why people become so successful in their business ventures and investments. If your doing a job you don't really care for you'll never reach the top.

If you run your own business but dread going into work everyday then I'd suggest selling it and starting one you enjoy. Life is short. We have a small window to get things right and then build from there so don't waste it and wonder in 5 years what if?

I notice those that try to look rich are people that came into wealth quickly by lawsuit, inheritance or lottery from middle class, or they were born into it and never taught the value of money by their parents, but this is rarer. No one can usually guess the richest people in the room anymore. They drive the same cars, eat at the same places, wear the same clothes etc. Yes, many have one thing they'll spend some money on, but doesn't everyone? Incomes and the ability to incur high consumer debt levels allows those in the middle class to live well above their means while those who want to become wealthy will learn to live below their means. That's the simplest way to define the difference.

It's not what you make, nor what you spend so much as what you save every month that matters. Then don't save to purchase depreciating assets, save to invest in real estate, equities, and your own business.