The first time I heard of the term “Stealth Wealth” I was reading a book called The Millionaire Next Door by Thomas J. Stanley, Ph.D. The first thing that came to mind was, “What is stealth wealth?”
The more I found out about it, the more it seemed like an interesting concept that made sense.
What Is Stealth Wealth?
One definition of Stealth Wealth is:
Stealth Wealth:
Individuals who would be considered wealthy from the looks of their bank accounts and assets, but choose to remain understated and quiet about their wealth. It’s the ability to live the proverbial “high life”, but the choice to do so in a way that is indiscernible by the public. It’s commonly found in old-money families and communities.
Basically, it’s being able to afford a mansion, expensive cars, and a lot of the rich things in life, but you don’t buy any of that type of thing or flaunt the fact that you can afford it.
Why Go The Stealth Wealth Route
There are a number of reasons why some people choose not to tell others how much money they have. There’s a certain humility to it along with potential safety concerns if the word gets out.
Sometimes it’s just better that other people don’t know how much you’re worth. As it is, there are so many stories that speak of people getting robbed or even worse for money (sometimes small amounts).
That being said, if others are doing bad things to people for small amounts of money, it could be even worse with a fortune.
On another note, it seems that certain people don’t take kindly to people who have a lot of money. One term in question is “filthy rich.”
The term “filthy rich” basically implies that the person came to be rich by “dirty” or illegal means. Obviously, that’s not always the case.
Other Miscellaneous Notes
The Millionaire Next Door, as referred to above, has been called the bible for stealth wealth. It gives a ton of facts that were drawn from the research of Thomas J. Stanley, Ph.D. and William D. Danko regarding millionaires and their lifestyles.
The subjects in the book are generally people who are middle class outwardly but have investments that make them quite rich.
Also, another set of interesting concepts that are presented in the book are Prodigious Accumulators of Wealth (PAW) and Under Accumulators of Wealth (UAW).
Take a look at these PAW and UAW terms as well. These concepts are in the book and are explained in much more detail. This book is definitely worth a read!
