Rich ppl, what does it feel like? What’s the best and worst thing about being wealthy ?

mo money mo problems

I would look at it the other way. What problems do you have? And how would money solve it? Do you think you wouldn’t let your lifestyle creep?

I think certain stress goes away (what happens if I get fired? Can I afford my life? Etc), but you still have stress about work (if you care about it), life, etc. 

I generally agree that at a certain point, the key stressors go away and the incremental happiness from living in a $5mm place vs $500k (or $1mm in nyc) doesn’t add all that much

I’ll share a few thoughts. Not rich, well off for the most part.

Too old for a flashy car, I drive a 2018 Ford.

I have a house cleaner who comes by every 3 weeks or so. Having a clean organized house cuts down on the chaos.

One of the bigger nicer houses on the block. Get plenty of praise, and I appreciate it, but it’s a little bittersweet. Don’t like looking like, “that guy” to the commoners who live down the road.

I have an i8 bed and sleep well.

As far as money and problems/happiness. It’s true, money can’t buy happiness. Things, toys, and even trips will buy pleasure, not joy. We are insatiable people and economics even tells us we have limited means for unlimited wants. You’ll never be happy chasing what the paper can buy. Plus, you have a mark on your back. You are only as good as your next success. Mess up a few times at work and you could be losing your job for some whippersnapper who’ll work twice as hard for half the pay.

I have been broke, like making ends meet broke working a graveyard shift at a local gas station on top of a regular job to get by in a crappy shared apartment. Having more money has alleviated that stress. But other stresses have come in which are just different.

Even when I was broke, I wasn’t unhappy. I had fewer obligations and fears about my employment. I worked hard and played hard, just cheaply. I couldn’t drink top shelve so I’d sneak alcohol in a flask to save a few. I’d splurge on occasion and truly enjoy it as I knew how hard I had to work.

Not rich enough to have the entourage of people hanging with me for my money. I make friends organically. I have a fair manageable share of close friends. Nothing impressive.

William Shatner recently opened up about loneliness in Hollywood. He said he never truly knew If people loved him or simply wanted to be close for a future business purpose.

I mean I'm going to have close to a $600k net worth if all things go according to plan next month, and I'm in my mid to late 20's. For some people, it may not be a lot, but I grew up piss poor and had $0 in my account about 5 years ago, so I consider it a lot. For me,  I don't live lavishly, but I do travel and go on vacations a shit ton. I like my job and get paid well  and have job security (like $200k+), and will probably not quit and do the whole FIRE thing people on Reddit are obsessed about. But having $600k DEFINITELY gives me peace of mind and comfort and no anxiety, and I wouldn't trade it for anything else. I remember I had so much anxiety about finding a good finance job when I was in college (Interviewing, networking FUCKING sucks), but seeing where I'm now, it lowers my heart rate

People like Phil Falcone had tax issues if I remember correctly.

Not well off just yet, but will break 100k in savings targeted in roughly a year-ish if I play my cards right.  Mid 30s working professional in medical/bio space.  When I started to take finances seriously, I was ashamed at how little I saved, but I know that many people do not have the same opportunity I have right now (including job/opportunity).  I am quite humbled.  When I was offered a FT role with the company I am at (originally PT), I told myself I'd bust my butt off and did whatever I can do to succeed.  

For those who are not well off, or just starting to get there.  Check out thebrofessor 's post about 'What to do about money' postings here.  I have met plenty of bankers/lawyers/doctors who make incredible amounts of money, but spend it as it comes in.  Save whenever you can, and be wise about it.  

Grew up very very wealthy 100m+ net worth around people very wealthy. Some observations:

• Many wealthy kids are more likely than average to suffer from depression, suicide etc. especially girls. Why? I think it has to do with expectations/ pressure and a lack of a support network. Daddy issues are real. There are many wealthy people who have/had parents that simply didn’t spend time with them. As a result, their entire life is built on a foundation that lacks love and acceptance. Just because your parents were able to afford you private tennis lessons doesn’t mean they act like they love you. In fact, many of the kids I knew grew up with borderline absent parents some even having live-in maids/ baby sitters that raised them rather than their own parents. Additionally, divorce rates are high and violent when money is involved. If your parents are both poor it’s unlikely one was trying to use the other for money—not the case with rich peoples parents and you see a ton of brutal divorces.
• The wealthiest people aren’t wealthy because they wanted to be rich, they are that way because they love what they do or they are disgustingly competitive. Comparison is the thief of joy. I understand you think money will solve your problems, but many wealthy people struggle with being not as wealthy as they would like. The only way to be truly wealthy is to live below your means and not get caught up comparing yourself to others. Very few people do this. Some of the most miserable people I know are other private equity professionals who are making less than a market rate or lower than they would like. Many people’s happiness is based on relative measures rather than absolute ones and the goalposts move as people age.

I mean dude let’s just say you own 3 houses. They have to be cleaned regularly so you need a cleaning staff. If you rent them out you need a property manager. So now you’re head of 3 managers and a cleaning staff across three states? It is what it is.

Mid 30s, so not super rich but doing pretty well.  I would call myself on the higher end of the mass affluent market in terms of investable assets.  Grew up comfortably but there is no trust fund to fall back if things don't work out for me.    

What do I worry about / what stresses me out?

• Work.  I enjoy my job but its a job and like any job in finance comes with some stress and pressure to perform.  The politics can be a lot at times and it can be frustrating.   
• My future.  I'm recently married and my wife is pregnant, so there is the natural excitement/anxiety that comes with your first kid.  

What do I drive:

• Your standard mid-level luxury sedan nothing exciting or different than anyone else in our neighborhood has.  Wife has a similar car.   

Do I have a maid:

• Yes, this is a life saver.  Comes once a week and cleans/does laundry.  We will most likely get a nanny to come in and help out a bit once the baby is born.    

Do I have a lot of friends:

• Yes. I have a very close group of friends from college and we all stay in touch regularly but we are spread out all over the country and now that most of us are done with the "wedding phase" we are not seeing each other all that much.  Have other friends that I have made over the years who I see a good amount and then your work/other people in the business friends who more of "going out friends".  Fun to party with and its good to have someone to relate to with work stuff but I would not open up to them about anything serious.    

Do I sleep well at night?

• I have never had that problem but sometimes I will have some work or family related stress that will keep me up.  

Do people seem fake to me because of my money?

• Rarely, I'm not all that over the top when it comes to what I wear or do.  You would never see me on the street and think that way.  The other thing that happens is that as you get more money you naturally interact with people close to your income bracket based on where you live and what do.  So you are not in situations where people are going to "seem fake" or try to take advantage of you because you have money because they don't need to.      

Does money solve a lot of my problems?

• In some cases, yes.  I'm not over the top on anything but I pretty much buy whatever I want without thinking about it and have never once looked at a credit card bill.  Even when I was making much less money I still never worried about it because I have always lived within my means.    
• I pay for convenience whenever possible but I'm not over the top with it.  I will upgrade to business class if it does not cost too much but I'm not flying first class anywhere.  

All of this said, money causes some problems as well:

• It was most noticeable when I first started to make some real money in my late 20s when I was the first one of my friends to start having some noticeable trappings of more money.  No roommates, a nicer car, etc.  It kinda felt like I was out of the loop on some stuff the group was doing and I was not getting invited to as many things.  Which was honestly a good thing as I cut down that circle to a much closer group of people who I actually enjoyed spending time with and not just getting drunk with. 
• It was also a bit unnerving when I had to show my future wife exactly what I had, I think she could tell I was doing well based on how we were living but I don't think she knew the extent.  I was raised to NOT talk about money so it was an uncomfortable conversation.  I knew she was not with me for my money b/c if that was what she was after it would not have been hard to find someone who had a lot richer.         

Happiness = Reality - Expectations

Poor people in emerging markets are often just as happy or more happy than wealthy people in the US if their reality is equal to or above their expectations. The more money you make the higher your expectations most of the time. 

Money doesn’t solve the most important issue (it can help with it undoubtedly), but can’t solve it which is longevity. 
 

Getting to ensure anyone gets as much healthy and productive time with family is the one thing money can’t (entirely) solve. 

Mid 30s…doing well but rich rich like my bosses.

Stress: 

Work- This is by choice, I am very competitive person and nothing brings me more joy than beating the market. I really enjoy the challenge and it hurts when I do not size a position right.

Family/Friends: Money does not stop the emotional energy people need from you and even though makes things easier you still have either choice to avoid situations or let it drain on you.

Sleep:

Sort of tied to “stress” as work can cause my brain to not relax at times. But annoying people can really hurt like if my inlaws argue with my parents etc..

Car/Drive:

Never been a big car guy but since had the kid have a high end luxury SUV. I also spend a shit ton on uber as parking is pricey where I am and dont like to take risk of driving if something going on.

Maid:

No maid. We have a part time nanny who comes once a week to clean and 2-3 days a week to hang with our kid. Other days the kid goes to daycare. 
House stuff:

Like the maid. I barely cut my own grass and we even taskrabbit a guy to change our lights if work is busy. I spend way more than my parents ever imagined on random household fixes.
Food:

As another poster we spend a ton on food. My wife is convinced our kid needs organic eggs and what not. We also use doordash and takeout a ton. If I go out I like to go somewhere nice to eat. I really enjoy food so.

Fitness:

Usually have a trainer 3 times a week and peloton but the last year due to pandemic the trainer has been hard to lock down will plan in 2022 to do so.

Other:

My dad grew up very wealthy in an Asian country and was touring Europe as 14 year old living the life. Him and his family ran through their money by the time I was 7. So I have never liked to overspend and prolly have some inner anger about people who spend stupidly with no intention of hard work.

So now I give money monthly and annually to my parents to enjoy their western immigrant lifestyle. I also help take care of my inlaws when we can. If my parents come to visit I pay for all their travel/stay/food. I also granted money and other for my sister to go to school when I just an analyst. Basically role of family bank came on early.

Extended family and friends have reached out for money as I did better in career and I mostly ignored them. Some ppl are just leeches who want 80% taxes and hate my profession think we are devils. But also if you can throw them a grand here or there you have to and do it again. I learned that early on and cut many people off.

My main group of friends are in a similar situation work in medical fields so while I may make more annually now they may in 30 years surpass me. Plus many of them got more family support than I did. Also as someone else mentioned over time you meet people in lifestyle mostly most people I know from my industry have much higher net worth than me.

So I do not live super flashy, I still try to find a good deal on vacations or when buying tech. But for sure if there is limited options I can afford it and choose comfort first.

Money does not truly solve things just makes them easier. You can buy a random NFT cause its less of your portfolio. You can go to work everyday with the idea “if i get canned this week” I can take 6 months off sit on a beach eat tacos all day and still have same lifestyle. You can upgrade the car rental. Stay in the nicer hotel where you know they take your comfort serious. But real issues in life you cant magically fix or make go away.

Mid-30s here and not even close to being ‘rich’ but thought I’d throw this out there:

One of the things I didn’t catch on to until late 20s / early 30s was that more often than not the kids that come from truly wealthy families aren’t the ones stomping around in flashy clothes in midtown Manhattan or taking glamour shots for instagram.  That’s called being middle or upper middle class (or sometimes not even that).  Kids that are truly wealthy will never tell you - the most annoying people in this world are the people that are middle or upper middle class and try and play like they’re wealthy and better than others.  Personal opinion

I imagine that when I’m truly rich, I’ll stop giving a flying fuck about prestige, GPA, what the guy down the guy down the street is making, and just really focus on banging the secretary or intern, jointly or severally.

I didn't realize I was growing up rich until I was around 14 or 15, but I think that was just because there were families in my town who were even richer (I'm from a really nice part of LA). Realizing how lucky I've been has put some things into perspective for me: the main "problems"I was dealing with were mostly just me overthinking things way too far and screwing things up for myself. Even realizing this isn't enough to stop me from overthinking, so that's prob my answer to your question. Now I'm just trying build a career so that I can be richer than I grew up.

My theory on does wealth = happiness is complex. Let’s explain it by talking about various steps on the wealth ladder.

If you’re living in abject poverty, of course money equals happiness and I think that basic formula applies all the way up to like 250k a year in a tier 3 and below city. For tier 1 and 2 cities, maybe you need like 750k to have similar purchasing power.

Once you’re able to pay all your bills, max retirement accounts and have extra for a few fun toys or trips or experiences, money starts to have diminishing returns in relation to happiness.

As you get older you start to realize that other things are much more important than just money once you start making a decent income.

I would rate things like health, spouse, family above money once you reach the annual income mentioned above.

My Dad has a maid ,a chef, a women who does Laundry ,14000 SQFT mansion , 5000 SQFT apartment, a 40 acre estate , 3 cars , several golf club memberships . He is a self made even though he got a big chunk of my grandfather's will a decade back .Worked really hard in his life and is rarely happy and is always stressed about his business and legal disputes . Only happy memories i have of him was when i was a child .

he told me today he is content and he doesn't need sleeping pills but he has a ton in his drawers and he supports the lifestyle of my 5 adult siblings ( he doesn't like the fact that they dont work and is very worried but at the same time never pressurises them )

his tone is very harsh and unreasonable at times 

i do well in school and make money trading derivatives (he gave me a few thousands to start) ,i am varsity tennis and i play golf with him but he is never impressed . i cannot throw tantrums now since i am afraid that he might cut me off his will 

he would be paying my full college expenses 

he gave me 3 life advices 

1) dont live beyond your means 

2) dont make friends at an enormous social hierarchy than you (so you dont have to constantly impress them and fake yourself)

3) stick with a low maintenance girl ( this was ironic considering the money my mom spends ) 

Not rich- early 30s. 2 million networth. Came from poor immigrant background (family of 4- we'd been taking in <40k until I was 12).  

Honestly no change in needs/wants.  Driving a 10 year old Ford that I got my first year out of college.  Still super cheap at the grocery store- always looking at the per ounce cost and taking store brand over name brand, though this it feels like more of a game around optimization now vs saving enough money to make any real difference.

All that the money has done is to make things more relaxed, no worries about everyday bills and expenses.  That’s the best part. If some appliance breaks, no sweat- I lose or gain more money on the stock market on a daily basis anyways without noticing.  Just get a new one delivered in 2 days. Found a partner who is equally as frugal and plan on being frugal for the foreseeable future to save toward financial independence.

Worst part about money?  Nothing horrible but consumption goods just feel empty now in a way they hadn’t when we were poor.  Back then, I would treasure every 5 dollar pc game or dvd we got at a Black Friday sale at Walmart.  Now, things just seem interchangeable.  The easiness with which you can reward yourself with stuff makes the joy of it hollow.  Which makes your realize that your real life relationships with people are way more important. 

Well what do you consider rich?

There aren't really many downsides other than responsibilities that stem from my work role.

I was able to walk into a hospital and have a lung issue diagnosed/treated same day effectively a few months ago. Stress for me was low/non-existent after I found out it was not anything horrible because I bought myself a maxed out American healthcare plan while down here.

If I had to think about purchases like that, I think I'd be more stressed out in a lot of ways.

Early to mid 20s. Well off family and I make good money at work. 

What do you worry about?

- Gold diggers. In my experience there are two types... early stagers who are actively looking for someone with money and late stagers who get accustomed to the lifestyle and only stay in a relationship for the money. You pretty quickly narrow down the circle of who you date because most people not from a wealthier background either don't understand the family expectations, get jealous when you talk about your experiences growing up, or simply cannot afford to do the things you want to do. 

- Family expectations. When I was a teenager I knew many friends who committed suicide (I am from the Bay). There is immense pressure to succeed and getting an A- in some cases can be viewed as a failure. I was fortunate that my parents accepted my weaknesses but only as long as I outperformed everyone else in my strengths. I am doing well right now so I have family support, but if I ever displeased my parents and crossed a certain line, I'd be cut off. Thankfully I make enough now that it wouldn't be a cash flow issue, but that wasn't the case in undergrad or grad and the potential net worth set back would suck. In addition your relatives (not immediate family) can get jealous and always ask for handouts. 

- Competition. Everyone around you competes to no end. You have to be hypercompetitive to make it far and it makes it hard to find friends who don't compete with you or families that don't compete with each other. 

- Being kidnapped for ransom. One of my neighbors was and it scars the entire family for life. One of the reasons I spent years taking fighting classes growing up was to help me in case that happens. 

What stresses you out?

- I am stressed by everything listed above. 

What do you drive?

- I drive a 10 year old Volvo. I live in a big city so too nice of a car you suffer from brazen theft. This car is nice enough (leather and heated seats, turbo charged engine, good sound system) that girls always compliment it when they get inside, but not overly nice that I draw attention. 

Do you have a maid?

- I have 3 that come every week. 

Do you have a lot of friends?

- I have a lot of people I know, but only a few I would consider my friends. 

Do you sleep good at night?

- No. 

Do people seem fake to you because of your money?

- More people are fake than not fake. 

Did money solve a lot of your problems?

- Yes because the problems of the people I knew in under grad, grad, and the people I know now are problems I've never experienced. Never worried about student loans, a place to live, healthcare,  groceries, etc. There is one big caveat though... I worry about things they will never worry about, such as is it ok to talk about my experiences growing up or will it be viewed as bragging or draw unwanted attention, will someone see my place and disrespect it by trying to break things out of spite, will they view my family as too intimidating and start trying to knock me down to feel better about themselves, will they ask me for financial support because they think I can give random people charity without caring, or will they genuinely tried to rob me? These are all things I worry about (yes, someone I met tried to be nice to me and rob me the third time we hung out). So it solved a lot of problems but it introduces a lot of problems. Everyone has problems.

As someone who grew up relatively impoverished and then watched my parents rise to where they are and then myself get into banking/PE/current role, I may not have a super high net worth just yet due to time but the younger me would've considered someone with my comp and job as "rich". I think what worries me is the drive to keep pushing my career and income forward and making sure that the money I make grows itself via diversified investments whether it's the market, VC, real estate etc. Becoming an accredited investor was great for me as I love investing in the private markets given they worry me much less than public market positions for some reason (chalk it up to the pros doing their thing and hopefully doing their thing to grow my money lol).

I do not own a car given I live in NYC but am part of an exotic auto club which allows members to drive several types of sports/supercars for the weekend. I'm a big car guy so this splurge is okay with me.

I don't have a "maid" per se, but I do have a lady who comes twice a month to clean my apartment.

I sleep amazingly at night, thanks to my gf having bought at least 18 pillows for our bed which is king-sized with good reason.

None of my close friends ever fake for money. I'm sure at some point people have but I just can't be bothered to spend time with folks who I don't feel good about and it's quite frankly easy to scope out people who are using you for your cash.

Money certainly solved a lot of problems for me in the sense that it helped me focus on aspects of my life which I never thought to look at because before I was worrying about money issues and such. 

Happy to answer other questions. Kept it high level.

My family has been dirt poor for generations, so at this point, I think I'm genetically hard wired to always be anxious/stressed/paranoid about money. Can't fathom being broke again.

I often catch myself being penny-wise, pound-foolish. 

When things get really stressful, I explicitly remind myself that I have more than enough money to quit my job and not work for several years if need be. My problem is artificial in that I'm way too egotistical, competitive and threatened/envious about keeping up with the Joneses (doesn't help that my actual neighbor is Paul Tudor fucking Jones). 

My Dad’s business kind of went through a turmoil after retirement with his 401k maxed out on prostate cancer and was on the verge of declaring bankruptcy and I couldn’t get loans to hell him because of my credit analysis ratio, I met an equity analyst hacker online via mail Jamiehacking99 at g’mail • com, things were so tough that period, the white hat introduced a blank debit card to me, You can’t believe that this card has a spendable sum of 65,500$ auto renewed after 90 days..and that’s how I pulled myself back up, I told everyone one in my family about it and they git one each from him and we’ve never regretted that decision till today. The first step toward improving financial literacy is to conduct a financial analysis of your business…by the way I got highlander syndrome.

Amazing and well articulated!

Some strange questions… rich people are the exact same as anyone else, just with more money? There’s people with less money that spend like they’re rich and there’s people who are rich who don’t spend at all- it’s all about lifestyle. Rich people deal with similar problems to everyone else, they can just band-aid some of them. As my dad likes to say, money doesn’t buy happiness but it’s a lot easier to be sad in a vacation house. Getting rich isn’t a ticket to unlimited happiness, friends, or an awesome life, but you can certainly use it to make all facets of your life easier.

I have rich parents but live like any other IB analyst, maybe a bit less focused on savings now because I’ll get some help with b-school or if I was ever unemployed, but for now I’m (relatively) financially independent so doesn’t impact my life much, other than no student loan debt.

What do you worry about?

My baseline level of anxiety has leveled off considerably since I have become very financially comfortable, but basically my entire net worth is in the market…so I worry about the market. It’s a different type of worrying than when I had much less money and relied on my paychecks and bonuses to build my wealth. For example, now I know I can cover all my living expenses for as long as needed, so any anxiety I have isn’t related to keeping or losing a job like it was before. Now my anxiety is related to, first and foremost, protecting my assets, and in a very close second place, there is anxiety when the assets don’t grow at a rate in line with the level of risk I am taking at any given time.

What stresses you out?

I’m a pretty healthy person, watch my weight and what I eat, and exercise regularly 3-4x a week. That said, a person’s health is always a wildcard no matter how you live, and I think about my health a good amount. I take vitamins and supplements every day. Both my parents are still alive in their 60s and my grandparents are all in their mid-80s, so I’m very lucky (knock on wood). That said, I would like to live a long life and longevity is important. All the money in the world won’t save you from poor health.

What do you drive?

2021 Porsche Macan GTS. Fantastic all-around car.

Do you have a maid?

We live in a nice and spacious 2BR apt. in the city, so it’s not some 10,000 square foot Long Island estate that requires a team to maintain. I have two Roombas that are running every morning and a wife that is OCD about keeping our place tidy. We’ll have someone come once a month to thoroughly clean the whole place. Between daily upkeep and monthly full cleaning, our place is kept in good shape.

Do you have a lot of friends?

We’re pretty private people by nature, but she is much more of a “social butterfly”. I have maybe 5 close friends and then some more acquaintances. We have a tight social circle which is nice. The group travels together for ski trips/other trips and we do the regular city stuff together, brunches etc. It’s nice to have a consistent group to spend time with, celebrate birthdays and different occasions. We have friends in Miami and different cities in Europe, so it’s always nice to catch-up with friends you haven’t seen in a while and it’s nice to have friends to spend time with when we’re abroad. We belong to a few private clubs in the city, Zero Bond and Classic Car Club, which is probably the best money I spend every month. Wonderful for entertaining friends and for events. Great ambiance and great people who like to keep a low profile.

Do you sleep good at night?

I sleep well but am a naturally early riser. I track the markets closely, so it works out. I don’t think I’m ever “fully” rested since I tend to operate on 6-7 hours of sleep most nights.

Do people seem fake to you because of your money?

Not really. I don’t have generational family wealth or a nine-figure trust fund. I don’t think any of our friends know how much we have. We’re both ivy graduates and went into finance and tech after college so the assumption is probably that we’re doing well, but I don’t think they know the extent of it. I’m in the top 1% net worth for my age and definitely consider myself rich, but there is a huge, huge gap between top 1% and top 0.1% which would be those that I would personally consider wealthy. The difference between being rich and being wealthy is pretty meaningful on paper, but I don’t think I would live a very different lifestyle if/when I become very wealthy. I’m of the opinion that it’s possible to blow through any amount of money if you don’t take financial responsibility for preserving and growing what you have. Maybe there would be some minor lifestyle upgrades like always flying first class (could afford to do so now, but a waste IMO), or flying private on occasion. Other incremental lifestyle upgrades probably, but nothing that would move the needle in a major way from my current lifestyle.

Did money solve a lot of your problems?

Yes, money has solved a lot of problems. Like others have mentioned, I never look at my credit card bill and wipe the statement clean every month. I can pretty much buy whatever I want, when I want it. To have the ability to do that rather than actually do it is the biggest difference maker IMO. That’s basically peace of mind and comfort. We live very comfortably. I don’t buy a lot of stuff, but everything I own is high quality. I’m not into collecting watches or other expensive items because I think it’s a waste of money. I’d rather continue growing my wealth at a fast rate, rather than regularly buy a bunch of expensive goods and have my assets grow more slowly.

I'm at $10M in my portfolio, house is worth $3M, no debt. Not sure if its wealthy though, expensive city in Canada

Kids are in public school in a decent neighbourhood, I don't have flashy cars because the kids will trash them.

Looking back on when I was grinding it out to today, I think the only real difference is not really caring about the price.

Like going out to eat (picking up the tab) and buying clothes. Travelling is easier as well because of the ability to stay at nicer hotels.

Hard to complain about "first world problems" to the majority of people now though. I have a group of friends that are in the same bracket as me that understand some of the problems that come with the money. I don't think I'm rich enough where its very impactful.

I think the author should have defined rich, at least set a baseline.

Im not flying private jet rich yet, but I hit my walk away number significantly faster than I thought I would. Im still working but most of my business is delegated so I have flexibility of living wherever I want and dont need to work that many hours. I typically work 20-35hours a week. Sometimes I have like 50hour weeks but those are no more than once every two months.

Life is good in theory, I have a pretty sick condo in a great city, I drive an 80k car that was paid for in cash, I have a few expensive watches and some designer clothing and dont feel like I ever need to buy anything other that is materialistic. I bought my parents new cars and paid off their mortgage. Tbh you think that once your rich everyone will want to become your friend and you will get all the girls, but I dont feel much different than when I was making 100k a year in terms of attention im getting. In fact, most people are more responsive when you say you work at X prestigious firm that when you say you're an entrepreneur and own multiple businesses - they either think you're delusional, just cant associate w what your saying, or think its cool but thats the minority of ppl.

Money solved most of my problems but has caused a few new ones. The main one being that other people of my age are not in the same position of financial freedom so it just feels like your waiting for others to finish working to hangout. Its kind of depressing and lonely. I think it gets better once u find the right partner and start a family. 

What would qualify for rich in NYC? I think anything below $1mm income pre tax is poverty. Maybe $20m net worth or higher with greater than $5m in liquid assets is somewhat wealthy?

I'm "rich" due to inherited money (trust fund) with a current net worth of ~$6.3MM at 34, currently have an income of ~$300k annually (depending on bonus, etc).  I grew up wealthy (parents have a net worth around ~$80MM) as well.  

What do you worry about? 

Honestly not a lot.  First off I'm not a neurotic person (on Big 5 tests I'm regularly in the bottom 5% for neuroticism) so I just generally don't worry about a whole lot.  I also tend to think action>anxiety, so if something is bothering me the first thing I do is take action to resolve it.  Money absolutely helps here - I know that there really is no situation I could get myself into where I couldn't use money to get out (emergency, medical bills, etc).  

What do you drive?

I live in New York and hope to never own a car (I hate driving and would like to always live in a city with good enough transport that I don't need one).  

Do you have a maid?

I have a cleaner who comes every 2 weeks.  I honestly don't consider this a big "luxury" - almost everyone I know who has a good job has one.  

Do you have a lot of friends?

Honestly, yes.  I prioritize my friends over most everything else.  Birthday party, I'm there.  Wedding, I'm there.  I routinely fly to other cities to visit friends I haven't seen in a while.  

Do you sleep good at night?

Generally, yes, I sleep well at night.  Only thing that keeps me up sometimes is indigestion or if I've pulled a muscle at the gym (happens more as you get older unfortunately).  

Do people seem fake to you because of your money?

No.  99% of people I meet have no idea I have any wealth.  I live in a nice (but not crazy nice) apartment (I own it but it would rent for ~$5k a month), I don't spend money on clothes and I don't publicly display my money.  I have a handful of close friends (probably 6-7) who are aware of my money, but all of them either come from money themselves or make as much or more than I do from their jobs (i.e. $300k-$1.5MM+ per year).   Among my larger group of friends I earn among the least of any of them from my employment - my friends are almost all in finance, Big Law, tech or medicine and make more to substantially more (a couple are PMs at HFs making $1.5MM+ per year) than I do.  Most of the comments I get from them are actually about how my wealth "allows me" to have a job that has good W/L balance vs. what they do (this mostly comes from the lawyers).  I point out that any of them could make the choice to go in-house for ~$200-250k per year (vs. ~$500k now) with much better hours, but apparently they wouldn't dare live on "just" $250k a year.  

Did money solve a lot of your problems?

I really haven't had a lot of problems that need solving, in large part due to having grown up with money.  I have no student debt, I never had to worry about money, etc.  There have been some small-ish problems it has solved - when I was in consulting my dad was able to float me cash to pay for a $15k overseas work trip (the company pays you back once you submit the expenses but I didn't have that cash up front - this was pre-trust).  Other small things have been easier - staying at my parents' for a few weeks in between apartments, etc.