The drawbacks of displaying financial success

[Chad]

Guys just wanted to get out of what they had at an obvious loss. I couldn't believe the great deals they were pitching. We're talking $100k to $50k boats (twin engine power cruisers that would make serious sailors wretch) offered up for $20k. I'll never buy one but if you're looking for a power yacht just pull up to people docking and say nice boat.

You know the old saying about owning a boat, "The best days of owning a boat are the day you buy it and the day you sell it."

[Sclass]

Chad, I've heard it a million times but there was something about seeing it up close and personal in the marina that blew me away.

[unno2002]

From somewhere in the past, I recall an aspect of a book or movie about “mafia”, something along the lives of the old guy telling the young to avoid a Cadillac, just get a Chevy and upgrade it as desired on the inside…

Re the “status symbol” for early retired, I opine that merely being retired early is the symbol…

[vexed87]

A few of my best buddies know I am pursuing FI, but they have no idea how much I am worth at this point, I'd like to keep it that way as I like to maintain a false persona that I'm perpetually broke and eagerly awaiting pay day. It can help curtail social expenditure. Also, not having a car is a great excuse as "I simply can't get there" (even though I'm perfectly fit enough to ride a bike wherever I need to go and make it in reasonable time!)

I can say there's no money to go on expensive trips, or eat out or go to the movies when they ask, up to now I have had excuses like a wedding/honeymoon to save for, and now it will be a house. I love spending time with these guys, luckily they do lots of frugal compatible nights in, but like to flit away the cash on take out food, meals out (always at terrible restaurants, why?!) or the movies etc.

That said, I am attending a 4 day music festival with some of these guys next weekend, which could be expensive, especially if you eat and drink from the stalls in the arena. It will be interesting to see how prepared they are to do their own cooking, drink water instead of £7 beers in the arena etc. I bet they will drop a wad, while I hope to keep my expenses purely to the entry fee and the crate of beer/food I'm lugging in to the camp site.

[El Duderino]

From somewhere in the past, I recall an aspect of a book or movie about “mafia”, something along the lives of the old guy telling the young to avoid a Cadillac, just get a Chevy and upgrade it as desired on the inside…

Or they could go full gangster and get a Chameleon XLE.

[Did]

Somehow, in this small Irish village we find ourselves in, there is a rumour that we are "millionaires". This rumour even reached our only friends in the town 13 km away, when their window guy asked if they had heard that there were Aussies in my village, "and he doesn't even work".

Such a rumour is a dangerous thing in rural Ireland. Ireland can be a very violent place!

ps - The rumour isn't true. I guess that is an ERE efficiency win if they think we have an ok salary......

[sharansingh]

That's sure they face this type of problem. So no need to show off whether you have so much money or not. Just be simple and gentle it will be cool.

[FBeyer]

...
ps - The rumour isn't true. I guess that is an ERE efficiency win if they think we have an ok salary......

ERE efficiency wins don't account for much if 'tards break into your house to steal all your 'millionaire gold' or you get robbed.
Can you drop a counter rumour somewhere so people don't get the idea that you're rich in the steal-my-stuff sense?

[Did]

...
ps - The rumour isn't true. I guess that is an ERE efficiency win if they think we have an ok salary......

ERE efficiency wins don't account for much if 'tards break into your house to steal all your 'millionaire gold' or you get robbed.
Can you drop a counter rumour somewhere so people don't get the idea that you're rich in the steal-my-stuff sense?

Ah we tried pointing out that we own the smallest cottage in the village (really, it's an old stone cottage), and drive the cheapest car, but honestly they have nothing else to do out here except talk about hurling and foreign millionaires...

[BRUTE]

move

[TopHatFox]

On "let's do this fancy dinner, vacation, trip, x together" I will only go if there is an expected potential income increase or if it's paid for by someone or something else. I am okay telling people that I value going for a walk in the park, watching a movie on my tiny-but-quality projector, or going backpacking w/ my 9 pounds of gear + food/water than going on the expensive trip.

If they insist, I may or may not mention that I value saving and investing and personal freedom more than that type of immediate spending; but that I also (likely) enjoy their company and would like to spend time in other ways. A minimalist (optimized) life style also leads to people to not even question whether I'm wealthy or not. I am happy to dish out personal finance knowledge or let out the secret red pill of FIRE if the appropriate person inquires, of course.

As for family, I have bluntly told my immediate family what my assets are and how they are allocated in a hope to inspire them; it's been working to some degree. I also bluntly told them that this is mine, and although I am under-no-circumstances willing to dish my $ out freely, I am absolutely willing to dish out educational personal finance tirades. I think a financially strong family unit prevents a lot of distress down the line (bailing out broke aging parents, anyone? or a needy sibling?)

[Sclass]

From somewhere in the past, I recall an aspect of a book or movie about “mafia”, something along the lives of the old guy telling the young to avoid a Cadillac, just get a Chevy and upgrade it as desired on the inside…

Or they could go full gangster and get a Chameleon XLE.

The interior shot of the car is a 1980s Mercedes S-Class. My $2000 "disguise".

Thanks for posting Duderino.

[Dragline]

Or they could go full gangster and get a Chameleon XLE.

The interior shot of the car is a 1980s Mercedes S-Class. My $2000 "disguise".

Thanks for posting Duderino.

That was funny. I miss Phil Hartman.