31 Redditors Name The Insane Things That Rich People Buy, But The Poor Are Clueless About

Rich people live a different lifestyle than the rest of us. But what exactly sets them apart?

First of all, they're always on the go. While the rest of us are content to stay in one place, rich people are always on the move.

They jet set around the world for business and pleasure, and they're always up for a new adventure. With tons of money to spend, rich people tend to accumulate more stuff than the rest of us.

They have bigger houses, nicer cars, and more expensive clothes. And they're not afraid to show it off.

Also, rich people are usually workaholics. They're always hustling and grinding, even when they're on vacation.

They just can't help but be productive all the time. Elon Musk, for example, claims he works 120 hours a week.

A lot of rich people are givers, not takers. Despite their wealth, rich people are usually very generous.

They donate to charities, give back to their communities, and help out family and friends. And another thing that sets them apart is that they're lifelong learners.

They're constantly reading, taking classes, and attending seminars. They want to know everything they can about the world.

Time

Time.For example, I own a boat, I work my a*s off on it repairing, cleaning, storage, etc. If I were rich I would just pay to have all of that taken care of so that I just make a call and the boat was ready to go anytime I wanted it.The rich spend their money on toys, but they also spend money buying the time to use those toys and to live their lives.SuperstitiousPigeon5

Convenience

My in-laws were well off.Way before the internet, I had an unexpected emergency when my brother was in a bad car accident in another state. I had been out shopping with my sister-in-law when my mother-in-law called the store and told us to come home right away, but she didn't say why.It took me 20 minutes to make what was normally a 40 minute drive. I'm pretty sure I scared my sister-in-law to death with my driving.When we got home, my in-laws gave me the news. They also had airline tickets waiting for me so I could be on a plane right away. How? They had a travel agent they'd used for years. In the half hour between the time they got the call from my family to the time I walked through their front door, they had called the travel agent who had booked the ticket and had it hand-delivered to my in-laws home.So what do rich people buy that poor people have no idea about? Incredible convenience, that's what.awhq, Carlos Martinez

A way to prevent poor people from getting near them

Isolation from poor people. Rich people spend a lot of money to make sure that poor people can't get anywhere near them.Bizarre_Protuberance, David StanleyFollow

The Psychology of Wealth and Materialism

Research indicates that wealth can profoundly influence an individual's psychology and self-perception. As Dr. Daniel Goleman, an emotional intelligence expert, states, "Our financial status can shape our values and priorities, often leading to a disconnect from what truly enriches our lives, such as relationships and community." This shift in focus can create a gap in understanding the essence of fulfillment. Materialism, often seen as a psychological construct, may stem from deeper insecurities or a quest for validation. According to Gretchen Rubin, a happiness researcher, "When people equate material possessions with success, they may find themselves trapped in a cycle of dissatisfaction, where genuine happiness remains just out of reach."

Understanding Wealth and Consumer Behavior

The disparity in purchasing behavior between wealthy individuals and those of lower socioeconomic status often reflects underlying psychological frameworks. Wealthy individuals may engage in conspicuous consumption, a term coined by sociologist Thorstein Veblen, which refers to buying goods to publicly display wealth rather than to cover basic needs.

This behavior can be fueled by a desire for social status and validation, as supported by research in social psychology. Studies show that individuals often derive their self-worth from social comparisons, leading them to purchase luxury items to enhance their social standing.

A chef who exclusively makes tea

My wife’s, cousin’s husband is a chef for a famous Bollywood star. The catch- he is only there to make chai. Apparently his chai tastes exactly the same as his employer’s beloved (now deceased) grandmother used to make. The man makes more than I do per year making chai 2-3 times/day.kk1485, Helena JacobaFollow

In general, access to everything.

Access.Need to call a governor? He's on speed dial and will phone the senators too. Need to talk to the CEO of Coca Cola... he's waiting for you and immediately assigns someone to fix your problem. Do you want to yatch around the horn of Africa? The closest naval fleet will tell you the safest route and provide "support" so pirates don't mess with you.I own a company and by nature interact with a lot of billionaires and CEO's. I'm by no means rich but hang in the circle enough that I've e-mailed CEO's of fortune 500's and they've hooked me up with huge "free" things as a small perk or thank you. I've been PAID to fly places just to have a 1 hour meeting and then get a free VIP week long vacation with the mayor or consulate showing me around.It's trippy and I've never really felt at home, but I've been eternally grateful for these travel opportunities.metarinka, Sybren Bruneel

Family offices

OilSpillsAreGood:

You don't really "buy" this, but, family offices. You need to have an incredibly high NW to even think about these services.

climb-it-ographer's response:

Yeah a proper dedicated FO is really in the $500+ million net-worth territory.They're really like an 'easy mode' for so many of life's annoyances. Having trusted lawyers, financial advisors, personal assistants, and other staff on-hand for everything just takes so much of the hassle out of day-to-day life.Feel like buying a new Range Rover? Well, you sure as hell don't need to mess around with that process yourself-- just ask your FO to handle it and have it dropped off at the house. Want to buy some property you saw while on vacation? Just have them work out the details and give you the final paperwork to sign. Getting sued because of some shit you said on Twitter? Your lawyers are working around the clock with no other clients just for you. And on and on-- a team of dedicated assistants is a hell of a luxury.OilSpillsAreGood, bfi Business Furniture Inc.

Interestingly, social comparison theory explains how individuals evaluate themselves based on their perceptions of others. This can be particularly pronounced in wealthier individuals who may feel compelled to showcase their material possessions to maintain social status. Studies indicate that this kind of comparison can exacerbate feelings of inadequacy among those who cannot afford similar luxuries.

It's crucial to understand that fostering a sense of self-worth that is independent of material possessions can lead to greater life satisfaction. Encouraging individuals to focus on intrinsic values—such as personal growth, relationships, and community engagement—can cultivate a more fulfilling life.

Interestingly, a study published in the Journal of Consumer Research found that consumers from affluent backgrounds often prioritize exclusivity and rarity in their purchases, viewing these attributes as markers of status. This phenomenon can create a divide in understanding between socioeconomic classes, as those with fewer financial resources might not grasp the value assigned to luxury goods by wealthier individuals.

Understanding these motivations can create opportunities for more empathetic discussions about consumption patterns and the values associated with wealth.

Support vessels for a yacht

Support ships for your mega-yacht.The biggest yachts don't travel alone, they generally have small cargo ships that do everything from house additional staff, to transport your cars so you always have them when you make port, to holding all of your toys (helicopters, submarines, day-boats, etc.). They'll often travel a day or two ahead of the yacht to a destination so that your staff can unload your things (cars, clothing, etc.) at the next villa you're summering in.climb-it-ographer, gérard

In case one of their family members get kidnapped...

Kidnap insurancei-need-blinker-fluid, RichardBH

They can buy happiness.

Happiness.People say you can't buy happiness, but that's not true. Not only do rich people have more time since people with less money have to work a lot more, they can also buy stuff that can make then happy for years that is someone from a poor family tired to buy it they definitely ruin the family's income, making them even more poor.I'm not saying buying stuff like multiple phones or expensive clothing i mean stuff like pets, plane tickets etc,, poor people have to really work for those. Me and my bf live really far away, I live in Czech Republic and have lives in Australia. If someone bought us plane tickets to we can be with eachother, I'd be so unbelievably happy. Unfortunately they are really expensive and neither of us have that kind of money atm, tho we are hoping to get it soon enough. Neither of us is that poor, it's just a lot of money to spend on something.Mykie_EatDaAsianFood, Rawpixel Ltd

The Impact of Social Media on Perceptions of Wealth

In today's digital age, social media plays a significant role in shaping perceptions of wealth and success. Research indicates that platforms like Instagram and Facebook often portray an unrealistic standard of living, leading to comparison and envy among users. A study published in the Journal of Social and Clinical Psychology found that individuals who spend more time on social media are more likely to report feelings of inadequacy and lower self-esteem.

Addressing this issue requires media literacy education that helps users critically evaluate the content they consume. By promoting an understanding that social media often represents curated highlights rather than reality, individuals can develop a healthier perception of success that is less influenced by external comparisons.

The Psychology of Scarcity and Abundance

Research in behavioral economics highlights the effects of scarcity on consumer behavior. When individuals feel a lack of resources, they may develop a scarcity mindset, which can lead to fear-based decision-making and an aversion to risk.

This contrasts with those in abundance, who may be more willing to invest in luxury items, often viewing these purchases as an opportunity rather than a risk. Understanding these psychological differences can foster more compassionate conversations about consumer choices and lifestyles.

Access to free stuff

Honestly insanely rich people often get so much for free because they're rich. Money begets money as well as access. It's crazy how much free stuff and access you get just because you're rich.darthTharsys, Naomi King

Retainer pilots

An acquaintance of mine is one of six pilots "on retainer" for a wealthy familyBeastOfEden420, Alex Ford

In-house mechanics for all their cars

On staff mechanics. People see the Floyd Mayweathers and Tom Cruises of the world buying tons of cars and motorcycles, but when you have a fleet like that, you basically need on staff mechanics who at the very least keep your cars clean, but also handle all maintenance.earic23, Ben

Behavioral economics offers insights into how wealth influences decision-making processes. Studies show that individuals with higher financial resources may take more risks, feeling less constrained by financial limitations. This phenomenon can lead to a disconnect from the realities faced by those in lower socioeconomic positions, resulting in a lack of empathy and understanding.

Fostering empathy through community engagement and volunteerism can bridge this gap. Encouraging wealthier individuals to participate in activities that promote social awareness can help cultivate a deeper understanding of diverse experiences, leading to more compassionate interactions.

Furthermore, social identity theory posits that individuals derive part of their identity from their social groups, including economic status. This can lead to feelings of superiority or inferiority based on material possessions, further complicating interpersonal dynamics across different socioeconomic classes.

To bridge these gaps, promoting experiences over material goods can help shift focus from status to shared enjoyment, fostering connections that transcend economic differences.

Create impossible opportunities

Funny, I know this guy who is the son of a man who sold his company to a large tech company for hundreds of millions.The son went to art school. Works for an associate of his father Lives in Manhattan. Dad pays for everything.He started a movie company recently. Dad $. Wrote a screenplay. Is filming a movie today. He's the producer and director.He invited me to drive a few hours to be an extra in a few scenes.I had to refuse because I need to work to pay for some unexpected bills.That's what money can do. Either give you options or make opportunities out of reach.enigmaroboto, Glen Bledsoe

Insurance on their money-making properties

Weird but important different types of insurance on their "money-makers"Like Taylor Swift has her legs insured for like $50 million. Her legs are part of her brand, her look. If some terrible accident happened that removed her legs or damaged them, she has insurance to cover that loss of income.daithisfw, franchise opportunities

Private doctors

Private doctor's. My nephew married into a very high net worth family, They employ a general practitioner/hospitalist with privileges at several top level hospitals. He caters, in house, to any and all medical needs they may have.GboyFlex, Yuya Tamai

Cultivating Gratitude and Contentment

Practicing gratitude has been shown to enhance overall well-being and life satisfaction. Research indicates that individuals who regularly express gratitude report higher levels of happiness and lower levels of depression. Encouraging wealthy individuals to engage in gratitude practices can shift their focus from what they lack to appreciating what they have.

Simple exercises, such as keeping a gratitude journal or expressing thanks to those around them, can help cultivate a deeper sense of fulfillment. This practice not only benefits the individual but also creates a positive ripple effect within their community.

Empathy and Understanding Across Class Divides

To foster understanding between different socioeconomic classes, it’s crucial to cultivate empathy. Research in emotional intelligence indicates that being able to recognize and understand others' feelings is a key factor in bridging divides.

Encouraging open dialogues about financial experiences can help demystify the motivations behind spending behaviors, allowing individuals from different backgrounds to connect on a deeper level.

Residential homes turned into commercial real estate

Its not just buying stuff but also keeping stuff they once bought. Many rich people just keep all the homes they ever owned as investment instead of selling when they move. Thats also a prime example of housing turning into commercial realestate in many cases._siggi_freud_, mschellhase

Clothing and apparel that are more expensive than Prada and Gucci

I work for the super-rich/elite of California. Tycoons and politicians and old money types. They don't wear the "poor" name brands like Gucci or Prada. They buy these random brands you've never heard of where a white t-shirt is 3k. Money talks, wealth whispers.EDIT: for those asking, some examples off top of my head would be Khatie, Miu Miu, Alaïa, Loro Piana, moncler, etc. Those aren’t the most expensive, just the most common. Someone linked a Quora below with other good examples! The clothes are all pretty normal and unassuming, which is the point. It’s meant to be an iykyk kinda thingneuro-sigh-ence, putri macan

Exclusive vacation clubs

There are membership-based vacation clubs. Similar to high-end country clubs, but for travel.You may pay a one-time initiation fee that can be upwards of $100k - $250k to get 5-10 years of *access* to purchase incredibly exclusive vacation/resort/rental property experiences.I work in the travel industry and I know of multiple companies like this.El_mochilero, dronepicr

Moreover, exploring the concept of 'enoughness' can radically change how individuals view wealth. Encouraging discussions around what constitutes 'enough' can help redefine personal success beyond material possessions. Studies in positive psychology suggest that individuals who focus on experiences rather than things often report greater satisfaction and happiness.

Promoting experiences over possessions—such as travel, learning, and relationships—can lead to more enriching lives and reduce the emphasis on material wealth.

Additionally, educational initiatives that promote financial literacy can empower individuals from all economic backgrounds. Understanding budgeting, saving, and investing can help demystify wealth and reduce feelings of resentment or confusion regarding spending habits.

Workshops and community programs that focus on these skills can create more equitable opportunities for financial education and empowerment.

Working people

In my ex-socialist country, rich people buy (off) officers, teachers, doctors and judges.572473605, Thomas Altfather Good

Pet clones

Cloning pets, one of our investors spent ~$100K cloning his dog.Jiltedjohn, Fullajtar Attila

Corporations are willing to hire the kids of the rich

Opportunity.You can throw a hundred business ideas at the wall and only one sticks, if you are rich enough, when you finally do something right, everyone calls you a genius, like you didn’t buy your way through 99 failures first.Most people only get one shot.Also, corporations will literally bend over backwards to employ rich peoples useless kids. The bank I used to work at once had a guy like that and after six months has to let him go, but “couldn’t wait to work with him in the future” because his family was loaded,They couldn’t be honest and tell him what a useless f**k he was, they wanted him to come back when he finished university instead.WhyCantWeDoBetter, Amtec Photos

The Impact of Social Media on Consumer Behavior

Social media plays a significant role in shaping consumer behavior today. Platforms often showcase aspirational lifestyles, which can create pressure to conform to those standards. Research indicates that exposure to idealized portrayals of wealth can lead to feelings of inadequacy and increased consumption among those who desire to attain similar statuses.

This cycle can perpetuate spending beyond one’s means, as individuals seek to project a certain image to their peers, often leading to financial strain.

Paintings

Obscure paintings, like ones you've never heard of. There have been cases of art changing hands without ever being seen but the buyer or leaving the vault where it was stored. There are a lot of investment vehicles that are largely unused for their intended purposes and are purchased just because their perceived value is expected to increase (e.g. a lot of luxury apartments in major cities). People rightfully trash talk NFT's but those are basically just a parody of what a lot of rich people are already buying.SpaceCowboy58, Gilda

Travel bookings at insane amounts

I work in the film industry and one time I booked a trip for someone to fly from London to California for a weekend and it cost more than my yearly salary.Edit: This was 2010, and it was $35,000 for first class airfare, private car, & hotel, because they realized Friday morning that based on his contract that he needed to be present while the film was being finished that weekend, and his contract specified he accommodations needed to be first class/5-star hotel, etc.Edit2: I accidently had an extra "0" it was $35k, which is $10k more than what the studio was paying executive assistants at the time...-CoreyJ-, Bernal Saborio

Luxury hospital floors

I don’t thing many people know that their are luxury hospital floors for rich people:woodguyatl, born1945

In promoting healthier spending habits, it’s vital to foster critical consumption skills. Encouraging individuals to reflect on their motivations behind purchases can lead to more mindful decision-making. Research shows that individuals who practice mindfulness in their consumption tend to report higher life satisfaction and lower financial anxiety.

Incorporating mindfulness techniques into financial planning can assist individuals in making choices aligned with their values rather than external pressures.

Rich people can stay anonymous

anonymitySgtFartyPants, Jørn Eriksson

Books by the foot

Books by the foot to fill decorative librariesGothsalts, Juhan Sonin

Islands, buildings, and high-frequency trading

That people don’t actually know about? There are a few towns and islands that are only for rich people. It’s just a place you’d never know to go or have access too unless you too are rich. But also things like specific buildings for high frequency trading. Some trading firms move to where they have faster access to the internet and as such can complete trades faster peeling off those tenths of a cent in a transaction that in term can make millions. I think the exchanges actually figured out a way to stop it but for a period of time it was something only rich people could buydumberthenhelooks, joiseyshowaa

Adding laws to a state

In California, a rich person can spend a few million dollars and get a measure placed on the state ballot. If it passes, it becomes law.Calijhon, Blogtrepreneur

Convenient streaming service

There a streaming service that's pretty much netflix for rich people, allowing you to stream current cinematic movies for about 3000 bucks a pop.VloekenenVentileren, Kenneth Lu

Researchers

They don’t invest on their own, they hire company to do research and advise on best steps to make their money grow.Antique-World-8315, Ivan Radic

50 additional years of life

Pretty soon. A very long life. Thanks Bezos.ShambolicPaul, Seattle City Council

Rich people blow their money on cars, wine, and houses while the rest of us, ordinary people, buy practical things like groceries and toiletries. It’s interesting to think about how our spending habits might change if we suddenly came into a lot of money – would we become more extravagant with our purchases?

Psychological Analysis

This article highlights how consumption patterns can often reflect deeper psychological needs related to identity and belonging. Understanding these dynamics allows for more compassionate discussions about spending habits and can help individuals from different backgrounds relate to one another more effectively.

Analysis generated by AI

Analysis & Alternative Approaches

In summary, understanding the psychological underpinnings of consumer behavior across different socioeconomic classes can foster greater empathy and understanding. Research indicates that promoting financial literacy and mindfulness can help individuals navigate the complexities of consumption more effectively. By engaging in open discussions about money and values, we can bridge divides and create more inclusive communities.

Analysis & Alternative Approaches

Exploring the psychology of wealth provides valuable insights into the motivations and behaviors of individuals who prioritize material possessions. By shifting focus from external validation to internal fulfillment, individuals can cultivate a more meaningful and satisfying life. As emphasized in the research, fostering gratitude and empathy can significantly enhance well-being and community connections.