r/Rich

Its name is rarely spoken in public, but the family office of Abu Dhabi's ruler is a global force with a huge appetite for deals.

In my opinion, the biggest problem on this sub are all the people who aren't rich, but literally saturate all of the topics with their uninformed opinions on all things about "being rich".

It really takes away from this sub because you don't know who knows what they're talking about, and who doesn't.

Subs like FATFire have a verification option.

You can show docs offline and earn a Verified flare that appears next to your username when you post or comment. I'd love one that also shows an amount here, like:

UserName1760 - Verified $17m NW

Does this sub offer verification or would the Mods consider adding it?

What are you guys doing to create wealth for your new born child?

I want to take more risk with my wealth and I also want to enjoy and spend it.

My child is 4 weeks old, I've maxed out his tax free investments for the financial year and bought him 0.1 bitcoin. I plan on doing this every year if not more. By the time he is 18 I think this will make him a millionaire.

Obviously, I will pass my assets to him when I pass on, but should my risk not work out or I spend too much I want to ensure that he is wealthy. Appreciate your advice.

Has anyone gone through this?

Both of us have primary and secondary wills. We are confident on our executors. Anything else we should consider. Our art/watches etc is part of the estate but think I need to reconsider.

I’m thinking about hiring a private chef who will be there 6 days a week. I want testimonies from people who have one. Do you regret it or was it worth it

What are examples of baby gifts you have given or received?

I imagine there’s a level of loneliness because nobody else has a mansion. Things are enjoyed best with people. If you’ve nobody to share the house with, it must get real lonely? I feel like I’d crave living on an estate again with normal people.

My husband was just invited on an amazing trip and I need to come up with an amazing thank you gift. He’s flying up to Colorado on a friend’s private jet, playing golf and fly fishing, and then flying home. Accomodations are all covered/included in this friend’s personal vacation home.

Any ideas?! Thank you in advance!

Have you dealt with people whose jealousy turned into them acting like your money, comfort, freedom, or opportunities should somehow have been theirs?

As if you having more means you took something from them, and any boundary you set is selfish.

I’ve got an almost 2.5 year old son and another son due early August. Right now we have a nanny from 8-2 on weekdays and 12-10 on Sundays. We are looking to hire another nanny once my next son is born. What works for you?

The number of billionaires has jumped almost 13.1% to a record 3,302 in the past year, driven by substantial growth in the US and Asia.

I met with a friend over the weekend who is on the board of his country club. This club has something like 60 hotel rooms that go back 80 years to when the hotel space was built. The rooms are small and there are plumbing issues and similar from various remodels. They're looking at taking half of a floor and converting the spaces into very small workspaces where members can take calls or pretty much work all day from the club, taking breaks to have lunch, etc.

I think this is a tremendous idea. I recommended this to my city club this morning and it turns out they were planning on this since the end of covid.

The main question is whether they will be overwhelmed by demand.

I am working from my club all week this week myself, but from the club library.

I just wanted to toss this out there in case your clubs have spare space, etc.

Does anyone here use a home concierge service? If so, was it worth it?

My wife and I (30s) recently bought our first home. I’m the first person in my family to own a home and I’m pretty exhausted with how much money I’ve put into this thing. But the time is what’s really getting me.

We both travel quite a bit for work and trying to manage everything feels impossible. The previous owners had routine law maintenance, cleaners, laundry service, etc.

I’ve gotten several emails from companies offering what seems like concierge or property management services. Some look like scams but a few seem legit and I’m on the fence.

To clarify, they would manage all vendors for the house, run personal appointments if needed, and keep up with warranties/service on roof, gutters, appliance etc

We’d have a single point of contact there who we would manage all of this through - e.g. they would tell us about upcoming services coming up for the next month or several months and handle any interactions with maintenance and vendors

(Posting again from another sub because i got hostile comments and maybe i will get more positive ones here)

Context,

Was born in the american continent (Not the USA), to a family of european heritage, all the sides of my family were colossal landowners in the states of my country for the last 200 years, and some had political careers. So i was born in the purple, with my family holding this generational wealth in farms.

Some of it was sold, and most of my family is settled for at least 3 generations more of multiple family members, if not more.

Would put myself in the 5% to 1% richest in the world, even higher depending of country/region.
(Won’t mention net worth number, but there is no doubt about where i am currently).

Sadly with the passing of my father when i was a kid, what would be his inheritance came to me in it’s totality, and since my teenage years, my wealth has been administered by my family safely. The more i grew the more they allowed me to access it, they had the interest of creating a trust, but opted for giving me the choice of choosing what to do, while the money is somewhere safe in europe in a very safe “investment” with a good revenue.

At the moment my family allowed me to receive close to 10.000 euros a month (because i asked nicely), not enough to lose any of my wealth. I could probably live with this my whole life if not for maybe emergencies or global crisis, of which no one can predict when it will happen or if it will.

So my problem isn’t really the wealth, but my life, i always could do anything i wanted and differently from all the people i met since my teenage years, i never had to worry about needs, nor do i want to.

Another detail, is that, as part of a elitist family, where my family were already on top of my society their relationships always had the goal of finding the best partners, more successful, strong, intelligent, beautiful, rich partners and in an older sense to create a better generation, me. I grew in a city of minority white/europeans and in a 100 people, maybe 5 would be blonde like myself, anyway, to most people in my life i was probably the complete opposite of everything they believed as to treat me as a byproduct of capitalism.

Still i got friends and have no social problems beyond having a difficult time finding a partner (who does not?).

My problem is that i can’t relate to people, my experiences since childhood and now in adulthood are so extremely different, that it created a perspective that is mostly unreachable for others.
I can understand people, but outside of a few friends also from wealthy families no one really understands my life.

The more i live the more distant it gets, but i also feel more hateful in the sense that i got tired of all family disputes and all the “class” and “spoiled” problems people keep throwing at me. I get that people have bills to pay, i have bills to pay, i just don’t concern myself with anything, and i’m not as dumb to not know the “price of milk” in the market.
I even tried to help family members and friends to just suffer their despise. In the end i moved out of my continent to a quite developed country because at the same time that i don’t want to be alone i feel that being alone is less painful.

My main concern now is just improve myself in studying and achieving personal goals. In the future i intend to be more participative of society, but for now i’m just too young to offer anything helpful.

I just wanted to rant a bit, and i don’t know if i’m missing something important, and i wanted to ask for others people of wealthy experiences, what they choose to do with their wealth and with their lives.

I will probably let my diversified wealth grow 5% or any % for the next couple of decades to a next generation instead of buying houses or anything expensive that i don’t need considering my family got it all and renting is more practical and cheap.

Some extra information is that i just walk, use a taxi or use a metro if i need to go somewhere. Most of my expenses are spent on studies and food, not to forget games.

Another question, am i the only person here that feels depressed that i can buy anything i want or do anything i want that crosses my mind? Probably not.

Hey everyone,

I’ve been watching the market lately and seeing so many people hit massive, life-altering wealth out of nowhere, whether it's from massive stock surges (like Nvidia, Micron, or SanDisk), a company suddenly going IPO, or a business acquisition out of the blue.

Honestly, it’s hard not to look at that and compare it to my own journey. I feel like I'm doing all the right things, working hard, and making smart choices, but I'm still waiting for that "breakout" moment, and if I'm being fully transparent, I feel a bit desperate for it to happen to me.

I have a few questions for those of you who actually crossed that finish line and experienced a sudden, exponential spike in wealth:

1. Did you ever actually think you would reach this level? Was it part of a calculated vision, or did it genuinely catch you completely off guard?

2. Did you ever have that negative feeling that a windfall like this would never happen to you? If you felt that desperation beforehand, how did you cope with it?

3)How exactly did your life change after the event? How were the initial days after getting rich? What did you do?

I’d love to hear your raw, honest perspectives. It’s easy to see the numbers, but I’m really curious about the mindset shift before and after the windfall. Thanks!