Stop acting rich

What Hacker News says

1. duelingjelloJan 2020
   Thomas J. Stanley, a wealth researcher, wrote some books on the subject:

   Stop Acting Rich

   The Millionaire Next Door

   There is a class of people, typically 16-25 who live at home, with minimal expenses and much disposable income he called “Gold Collar Workers.” They often buy luxury cars (usually used or salvage title) they cannot afford to repair and generally act fiscally like stockbrokers (high MPC).

   OTOH, there’s another thread to this story. People who feel guilty that their material and/or monetary accumulation deprives others. It maybe a sort of victimology where people need to feel like victims to be valued in the victim hierarchy or that they have delusions of grandeur to feel self-important, like homeless people who say the FBI has a file on them.

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2. spkingMay 2018
   One of the best books I ever read was "Stop Acting Rich" by Thomas Stanley. It was the follow up book to Millionaire Next Door.

   The main argument is that almost anyone can become a "simple" millionaire through frugality and--most importantly--avoiding trying to emulate the consumption patterns of the "glittering rich" (e.g. decamillionaires and those described in the article).

   Combine living below your means with an in-demand skill, a healthy stoic outlook (learn to love what you already have), and you'll have a great shot at financial independence.

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3. akulbeDec 2014
   The Personal MBA - Josh Kaufman The First 20 Hours - Josh Kaufman So Good They Can't Ignore You - Cal Newport The 4-Hour Workweek - Tim Ferriss The 4-Hour Body - Tim Ferriss Stop Acting Rich - Thomas J. Stanley James Altucher - Choose Yourself
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4. mgkimsalJan 2011
   I'm reminded of the "millionaire next door" and "stop acting rich" (thomas stanley and the other guy!). $600/month lease payments on one car is not unheard of but truly rich people don't do that sort of thing. It seems the this article is using "aspirationals" as their ideal family, then bemoaning the fact they don't have enough spare cash.

   A $10k used car could cart them around just fine for a couple years - the equivalent of $400/month - 3 years would be $277/month.

   If the 'high status' jobs require a 'high status' car, let the employer pay for it.

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5. anonsivalley652Feb 2020
   There are two aspects: balance sheet and status.

   Felix Dennis, an actual billionaire, called it the "point at the sky" theory of wealth creation. It's really a form of cargo culting.

   On the other aspect, there are a number of what Thomas J. Stanley call "gold collar" workers: young, singles who often live at home but make relatively good money and so tend to buy things they cannot afford like used Lexuses, BMWs, Mercedes, etc. He even wrote a book about it "Stop Acting Rich."

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6. mgkimsalOct 2010
   I'd never even heard of Grey Goose (shows how in touch with 'hip' society I must be) but the "Stop Acting Rich" book by Stanley seemed to obsess over it. I had the audio book and it felt like he'd gone on for two hours about how dumb it was to buy Grey Goose if you couldn't afford it, and that 'real millionaires' don't buy it. I guess I'm not surprised to learn it is a very recent invention, seemingly created specifically to target the late internet-boom 'new rich' generation's desire to signal wealth.
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