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15 Ridiculous Things Rich People Have to Explain to Poor People

25 June 2021

Do You Want to Know More about the Rich Lifestyle? Check Out 15 Things Poor People Don’t Know about the Rich Life.

Having money doesn’t buy you instant knowledge of how to live like the rich and famous people, because the rich keep their trade secrets close to their chest. We’re going to uncover private clubs to private banks, how to wear a designer suit or where all those books come from to fill home libraries. 

And if you think the parking at your local mall is expensive, try park a super yacht for a season. Here is a list of 15 Ridiculous things rich people have to explain to poor people.

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Explaining this topic in an article is not easy. Switch out to the much better video version of this article:

With that said, let’s bounce back to the article.

1

No Amount of Money Can Buy You Some Luxury Brands Today

When it comes to top luxury brands of shoes, bags, or watches, expect a waiting list of 20 years. Much loved Louis Vuitton items have the longest waiting list in the world. In other words, if your partners birthday is next year, you’ve waited too long to get them Louis Vuitton.

A Web Performance Today report stated, “More than 57% of customers abandon their online transaction after 3 seconds of waiting time.” Imagine waiting 20 years?  That’s how long the wait is currently for Daytona or GMT-Master II watch styles. If you have a “see now buy now” shopping mentality, then you will be disappointed. It is truly the watch that money can’t buy.

2

Don’t Buy the Car If You Can’t Afford the Gas

The gas is the cheap part of owning a luxury car. Having a cool million to drop on a custom luxury car like a Lambo or a Maserati isn’t the end of the expenses. 

It might earn you some street cred but like with any luxury purchase, it isn’t an asset that earns you bank, but rather costs you money. In fact, cars, yachts, and jets will have you haemorrhaging funds for maintenance costs. If you don’t have double the price tag in the bank account and ways of topping up your funds, then you might be sleeping in the backseat of your car just to keep it.

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3

The Labels on Suits Aren’t for Show

Nothing says new money like keeping the brand tag on the sleeves of high-end suits or not removing the tailors stitching. Designer suits have a tag on the sleeve just to make it easier for shoppers to know what brand it is without having to mess with the display. This wasn’t meant to be a brand statement for the streets.

Instagram is full of wannabe businessmen suiting up and putting their sleeve label front and centre in their picture. But this is actually a total style faux pas according to The Fitting Room on Edward who offer an excellent guide on how to prepare your new suit for public use.

While you’re at it remove the white tailor thread on the shoulders, the X of thread on the vent of the coat tail, and the stitches holding the breast pocket closed. Now you’re ready to shine like a wealthy suit wearer.

4

Budget Air Tickets Aren’t Always Cheap

You might score yourself a $100 ticket across the world to attend a business meeting, but you will soon realise the buck doesn’t stop there. There is method to the madness of paying upgrade prices for air travel. Firstly, budget tickets are often from obscure airports, Uber’s aren’t available or will cost a lot and the trip takes ages.  You will arrive at your meeting frazzled.

Budget tickets also leave at inconvenient times, so you’ll be waking up at 2am to get a flight or waiting in the airport until 3am for your transfer.

Cheap tickets don’t include luggage cost or meals. Don’t forget to factor in the cost of a day waiting in an airport waiting for a transfer.

The bottom line is that when you consider all these costs, it can add hundreds to what you assumed was a budget trip. Some pricier tickets come with all inclusive deals including hotel pick up, lounge access at the airport and a lie-flat bed, so you can save on hotel and arrive refreshed. It’s worth it.

5

The Biggest Cost of Buying a Private Jet Is Owning a Private Jet

Private jets don’t fly themselves, and hiring a pilot isn’t where you want to go bargain hunting. Once you have flown your Boeing off the shop room floor, that’s when the real costs begin. In fact, we made an entire video about it because there are so many unforeseen expenses:

6

Stop Buying Travel Insurancer

You could spring for the most expensive bottle service, but it won’t matter how distilled your vodka, or gin is if you add a cheap mixer to it. And no matter how aged your whiskey is, if you pollute it with a block of tap water ice, then you can kiss the connoisseur status goodbye. Glace Luxury Ice provides a premium ice that will compliment rather than contaminate your “on the rocks” experience.

If you’re spending $1,000 a bottle on fine liquor, to add some Schweppes mix with it, is sacrilege and rich people know how to get the value out of their spend.

7

Stop Buying Travel Insurance

You now that old saying that when you have money people want to give you free stuff? Well, the same goes for a lot of banking benefits, but more on luxury banking later. For now, we’ll zero in on travel insurance.

When poor people travel, they are often strong armed into buying travel insurance, and we agree, insurance cover is key to maintaining wealth. But the truth is, you don’t need to buy a separate policy. If you buy your air ticket with a credit card, you get usually get free insurance.  

Call your credit card provider and ask. Many household’s insurance policies have a travel extension that costs very little or is even free. And if you have a private medical plan some accident and emergency care might be covered worldwide, if you let them know you’re travelling.

One thing that anyone experienced with insurance knows, you can’t double insure or both policies are invalid. So be sure you check you aren’t already covered, or you might be throwing your money away.

8

Spending to Be Healthy Is Cheaper

You might think that health is expensive, but rich people know that health is priceless.

It is far cheaper to spend to remain healthy, than spending to fix your health problems later. Sticking to a good low GI diet can prevent you developing diabetes for example, whereas the high costs of diabetes medication are lifelong. You might think that investing time and money in fitness is last on your priorities, but your career depends on you being healthy and energetic, so being anything less could be costing you earnings. 

Fixing your health can be very expensive. Make better health choices by checking out 15 Health Mistakes You Don’t Know You’re Making. 

9

Steam Silk

Here’s a fast fact, when you can finally afford silk or other luxury fabrics be sure to launder them correctly. Silk, for example, should rather be steamed than ironed. Not all fabrics are born equal, so be sure to read the label when you bring your new bundle of joy home.

10

Forget Platinum Banking, the Centurion Card Is What the Rich Use

You’re not impressing rich people when you flash your platinum bank cards around. Rich people are offered the honour of the Centurion card. This exclusive invite only card is offered to the wealthiest individuals, it is estimated there are only 100,000 Centurion customers globally.

Forget swiping plastic, this thing is made of titanium and goes by the street name: Amex Black.

11

You Can Usually Get a Better Hotel Room

If you’re booking through a big booking website, you aren’t seeing the best hotel rooms on offer. It’s better to book directly with the hotel. The next tip that rich people use, is tipping upfront. Tipping upfront says: I trust you, and you’re investing upfront in a good stay. The front desk team hold literally the keys to the hotel rooms, so always be kind. They have the power to place you near the ice machine or in the room with bad wi-fi, if they don’t like you.

12

Sparkling Wine Is Not Champagne

Just because it bubbles doesn’t mean it gets the title of champagne. Only bubbly bottled in the French province of Champagne can take that title. A specific age-old method is employed, and specific grapes are pressed for the process.

Then don’t be fooled that your local 2-for-1 sushi joint is serving up caviar on your salmon roses. Caviar only refers to unfertilized eggs, or roe harvested from wild sturgeon. The stuff on your sushi is salmon roe at best. Due to overharvesting, wild Sturgeons, fish farming has increased to serve the growing demand while protecting the endangered species, which means the price of real sturgeon caviar has come down.

13

Leather Care Is Essential

We love this quote from Sam Gill of Duke and Dexter: “Leather shoes are like a brand-new car. Treat them well and they will return the favour.” In other words, leather shoes need some TLC to maintain their lustre.

As Aluxers will know, good quality leather shoes are worth every cent, and they will be with you for life if you look after them with a bit of polish and dry storage.

14

A Super Yacht Costs about $4 Million a Year to Run

We promised to discuss the costs of a yacht, so here we go.  As soon as you acquire a yacht you need to dock it somewhere, these costs vary wildly. Expect to pay from $500 to $3,300 per day for anywhere noteworthy. 

Fuel varies depending on how much you move around, but the real big-ticket costs are crew salaries and maintenance of your yacht. This is something a lot of poor people who come into money don’t realise and are quickly bankrupt by these luxuries.

If you want to go into more detail. Check out our video:

15

You Can Buy Books by the Foot

This might sound completely bizarre, but online stores are set up for interior decorators to fill client’s library shelves by the yard. Forget these being the best loved family reads, or the titles that inspired an illustrious career. They might not even have had their spines cracked yet.  Now you don’t need to be intimidated next time you are invited into someone’s private library for scotch, you might be the most well-read person in the room.

Why not start with a little light listening on audible, your first book is free with our code: alux.com/freebook

Question:

What was the most surprising thing you found out as you got richer?