8 Subtle Ways to Spot a “Quiet Millionaire”

So the idea of being undercover rich is kind of trending right now. You'll hear quiet luxury or stealth wealth or old money aesthetic. Like all of that is just like what the internet is loving these days because it's this idea of people that are like really financially secure and wealthy don't feel the need to flash, you know, all their lifestyle with labels and all this stuff for the world to see. So I saw an article on this topic recently and I thought some of their points to actually match the Ramsey Baby Steps. So today I'm gonna share and react to this list plus a few insights of my own as we talk about this kind of concept, if you will, of being wealthy but not always flashing it. Now, before we get started, make sure to subscribe and share this episode with a friend. All right, the first sign that someone is a quiet millionaire is that they're not living paycheck to paycheck. So again, you may not see it. It may not be out in the open, but for sure, when you become wealthy, you're not dependent upon that next paycheck to get by. So the margin is great and you can get there by living below your means, right? Having a budget and actually learning to get out of that cycle. But you can definitely tell someone is like doing well if they're not needing that next paycheck to get by. Number two is that they're not anxious about upcoming expenses. And I think what that means, which makes sense, is that they have an emergency fund, they have cash available, and if upcoming things are coming, expenses maybe they know or don't know, they have the ability to cover them. So again, when you are paycheck to paycheck and don't have savings, it's like any little thing that comes up could feel like this crisis, right? It takes you completely out of orbit. But these stealth millionaires, if you will, they're not worried about all that stuff because they probably have plans, they have put money set aside, which is great. So again, having an emergency fund for upcoming expenses for the unexpected is key, but then also planning for upcoming expenses ahead of time being proactive. So whether that is big expenses like replacing a car or a vacation, something big that you're planning ahead and that's where the budget comes in for you to be proactive, which is wonderful. All right, the third way you can tell is that they invest their money wisely. And this was really great. When you talk to a lot of people who are wealthy over time, very few of them just kind of like randomly made one decision and it just made millions, right? It is this consistent lifestyle of saying, hey, how do I best use my money to make money? Because that's really one of the secrets, secrets I say, is when your money's making money, like that is a great part. That's where investing does come in. And so they're investing their money wisely. They're not flipping about it. They're probably actually very wise and slow to make decisions on what they're investing in. And when you get to this point of having no debt and a fully funded emergency fund, this is when you can start doing this and you can invest 15% of your income into retirement. And we have found through our own surveys that majority of millionaires really gain that millionaire status by paying off their house, but also in traditional investments like their 401k at work. So consistently investing will allow you to actually build a lot of wealth. And speaking of wise investments, investing into your online protection is crucial. And this is why I love Delete Me. One third of the U.S. population's background info is now public. So for 115 million of us, data breaches mean that our info is just out there for anyone to find. And this is stuff like our names and addresses and phone numbers and more. So that is why I love and use Delete Me because they find and remove your information from hundreds of data broker websites that buy, sell, and trade your personal data. So take control of your online privacy with Delete Me. Individual Delete Me plans start as low as $9 a month. So sign up today at joindeleteme.com slash Rachel for 20% off, or just click the link in the description. All right, number four is that they value experiences over material things. So the fact that this was on a list made me, I just loved it, honestly. It made me so happy. Because we do talk about the idea that stuff is okay, right? So we are not against stuff. So material possessions, that does not equal evil things, right? So getting a great purse or car, like whatever the thing is that you want, you save up and you pay for it, that is great. But you have to understand that why you are doing it, your motivation behind buying those things is what's really key. And the hard thing is, is that we are a culture that is obsessed about the material possessions. And so it's like, you almost kind of put your hope in this thing that's gonna long-term make you happy, or you believe like, it's gonna make me feel a certain way or be a certain thing. And what you realize is, when you actually start buying those things, again, they're not bad, but your motivation of doing it ends up being really negative, right? The result of all those things is not what you expected. And so you have to really buy those things with an open hand to say, yeah, if I have it, great, if not, no big deal. You're not putting so much stock into material things. So I do wanna say that, that it's okay to have nice stuff, just don't let your nice stuff have you. And it can have you when you go into debt for it. And when your identity, your hope, your happiness, your joy is wrapped up in a thing, because studies have shown time and time again that that does not bring long-term happiness. Stuff doesn't. Now experiences, on the other hand, actually do bring a level of joy. When you experience things with people you love, there is something about the richness of life and the joy of life that is very real and that's been proven. So I love that that's on the list, experience over material things. Number five is that they're generous. And we see this a lot. And again, this may be quiet, it may not be out in the open, but there are a lot of people who have earned and worked for and created a lot of wealth. And what they do with it is absolutely incredible. And so there is something about living with that open hand that is key. And we see that happens. Not every wealthy person does this, right? I'm not saying that. But I do think those that live with a level of peace in their life where money is not an idol, there is something about that open-handedness. And so where you are in your personal finance journey, regardless if you are living paycheck to paycheck, or maybe you are on the wealthy end of it, be giving, let that be a rhythm in your life because that will continue to magnify who you are as you start to build wealth. All right, number six is that they're not driven by status symbols. So we talked about earlier how like, yeah, the stuff is not bad, but this is key for wealthy people when they actually realize, okay, I am not gonna be driven and my motivation is not so I can go and look impressive. Because there is something about this idea that like the more stuff people have or the more labels, the more they're trying to impress you. And I feel like you can kind of get a feeling of people like that. There is a level that you're like, okay, but you're an okay person. Like who you are, genuinely, just who you are is enough. Like you're good. And so even that quote, which I love, confidence is quiet, insecurity is loud. And there are some loud people that again, I think people experience that you're like, you're okay, you're okay. But there's something about not needing to continue to impress, which is a really beautiful quality. And what we have found again with wealthy people is that they aren't driven by status. And I think cars is one of these places that a lot of people think like, oh my gosh, if I just get this car, people are gonna see me a certain way and they wanna be viewed in that light. So according to the National Study of Millionaires, the two most common brands of cars that millionaires drive, you ready for this? Honda and Toyota. Yep, great cars. Not the most flashiest or most impressive, but they're good because again, millionaires, they're not worried about it. They are not worried about it. Okay, number seven is that they value quality over quantity. And this is, I definitely am, I could get better at this because I do like quantity. I like options in my stuff. But they do appreciate quality items. They actually see something and will have the patience to wait and buy the actual thing that's gonna last a long time versus something that's cheap just to kind of scratch that itch. Now, if you are living below your means and you're investing in things that will last, be doing that because that's gonna help you not be a victim of constant consumerism. If you continue just to run and run and run and consume, consume, consume, it is hard to build wealth when you do that because you're spending a lot of money versus saying, hey, I'm gonna be looking at the quality over the quantity and that's helpful. But again, I'm saying this to myself too, people, trust me. And number eight is that they have a long-term financial plan. For a lot of people that build wealth, it doesn't just happen. They don't just wake up and they're like, oh, look at all this money that I have. No, they have a plan. They look and they say, okay, in the future, in the next five, 10, 15, 20 years, what am I doing with my money? I'm actually going to be proactive and choose what my money's gonna do versus just living in the moment. So there's something about this planning that can feel boring, it can feel kind of constraint or like, oh, I have to stay in this plan and it's not as exciting and fun. But over time, it's amazing understanding the amount of peace that comes with actually being proactive in this area of your life because for so many people, they don't. They just have a feeling and an emotion and they act on it and they move on. And so much money is wasted during those moments. So making sure you have your priorities in order, you know what you're doing. And honestly, there are so many plans out there, but one of my favorites is the Baby Steps. And if you've not gone through Financial Peace University, this is a great course to go through. It's nine lessons, but it talks through the seven steps of how to get in control of your money, how to get out of debt, how to build wealth and do everything that we're talking about. Because again, it's this idea that you're working a system, you're working a plan, you're not just going off of this emotion in the moment. And so if you wanna check out FPU, I will leave a link down below. But it is a great course to dive into to get a lot of tips and this method of building wealth. Now, if you want specific tips for how to budget to build wealth, make sure to catch my episode, Four Ways You're Ruining Your Budget Without Realizing It. You can click here or if you're listening on podcast, I will leave a link below. All right, you guys, remember to take control of your money and create a life you love.