10 Modern-Day Signs Of Wealth That Will Most Likely Become Obsolete
How can you tell that someone’s wealthy? The first things that probably come to mind include how someone dresses, what accessories they have, what they drive, what they eat, and what home they have. However, being considered wealthy entirely depends on our circumstances: if we were stranded on a desert planet, being rich would mean having access to water.
Prompted by internet user u/Ready2go555, the members of the r/AskReddit community shared what modern-day signs of wealth they believe will become obsolete in the future, from gemstones and cars to beachfront properties. We’ve collected some of their most fascinating opinions. Scroll down, have a read, and see if you agree with them.
Pictolic reached out to personal finance expert Sam Dogen, who shared his thoughts on the different types of wealth, as well as what resources might unexpectedly grow in value in the far-flung future. Dogen is the founder of the popular 'Financial Samurai blog and the author of the bestseller 'How To Engineer Your Layoff.' Scroll down for our full interview with him.
10 PHOTOS
#1
Do you think anyone is gonna give a s**t about your $1,000 sweater in 20 years?
Just because you earn a lot doesn’t mean that you’re automatically stress-free. Financial stress can affect you no matter your salary.
CNN reported on the findings of a recent survey from the Federal Reserve Bank of Philadelphia, and the results were shocking. 30.8% of American consumers earning between $100,000 and $149,999 a year were worried about making ends meet in the next six months.
Meanwhile, 32.5% of Americans earning $150,000 or more are also worried about paying their bills. On the flip side, somewhat ironically, only 23% of respondents earning between $70,000 and $99,999 per year have the same worries.
#2
Trophy and big game hunting.
#3
Tesla automobiles. Christ, I saw a Cybertruck for the first time, up close and personal yesterday and that thing is even uglier than in photos. You can't convince me that anyone owning one of these isn't just virtue-signalling to Musk and his ilk. The cars have always been odd, but not as obnoxious.
I remember having a meeting with some prospective clients back when Tesla started getting a foothold. At the end of the meeting, we all shook hands, and someone said, "Man, we're ALL gonna be driving Teslas!" Which sounded positive at the time.
Well, their funding didn't come through. If it did, I'd be selling my Tesla for cheap.
Personal finance expert Dogen explained to Pictolic that there are four types of wealth: financial, time, social, and health. "We often focus too much on financial wealth, neglecting the other crucial forms of wealth. Despite huge medical and technological advancements over the past century improving our quality of life, we need to balance our pursuit of financial wealth with attention to our health, social connections, and freedom," the founder of 'Financial Samurai' told us in an email.
"Once we have enough money to cover our basic needs, we should be intentional about improving our health, nurturing our social life, and gaining more freedom. There’s no point in having money if we have nobody to share it with, and if we don’t have our health, no amount of money will make us happy," Dogen said.
"Eat right, work out, make friends, find love, save, and invest!"
#4
Gemstones, man-made gems are higher quality and carat count right now, in the future, you'll be able to line your driveway with diamonds instead of gravel for the same cost.
#5
Flocks of people gambling their retirement away at the casino. We have one close to home and it's always jam-packed. I tell my wife sure, there will always be rich people with money to burn, but once the baby boomer generation has passed and people no longer have good retirements, the casino crowd is going to shrink by a LOT.
#6
Pictolic asked Dogen about what resources he thinks might potentially grow in value in the future compared to the present. "Water and clean air, though free today, will likely become more valuable in the distant future. We often take both for granted," he shared his perspective.
"Additionally, the ideal house combines great views with flat, usable land, which is rare because houses with excellent views are typically on hills with less usable land. As a result, if you can find one of these rare houses today, buy it. It will only become more valuable and rare in the future," the expert urged.
"As the world becomes more digitized, data and the ability to analyze it will likely become incredibly valuable. Artificial intelligence technologies are already leveraging data to write code, answer questions, and cure diseases," he said. "Therefore, investing in artificial intelligence through a venture capital fund could be a smart move to gain exposure to this growth sector. These investors seek financial growth opportunities on our behalf, allowing us to benefit from their expertise."
For more great insights about personal finance, feel free to check out Dogen’s blog ‘Financial Samurai,’ as well as his bestseller ‘How To Engineer Your Layoff.’
#7
Beachfront property.
#8
Strong writing voice. Lawyers, doctors, and engineering managers tend to have a lot of technical writing training and skills. AI is currently killing that.
#9
Fancy watches, I know rich people that obsess over collecting them but I feel like the invention of smartphones has turned them into a pure status symbol.
Wealth—true wealth—is rather hard to define. Sure, you could say that having a Scrooge McDuck-style swimming pool full of gold coins means that someone’s rich. However, there is a caveat. If that person is spending more than they’re earning and quickly eating into their savings, can we call them well-off?
True wealth is freedom. It revolves around abundance, sustainable spending, long-term investments, being able to enjoy life to the fullest with the people we love, and being able to take care of our nearest and dearest. You do not have to earn mind-melting sums of money each year and have billions in the bank to feel rich if you have the flexibility to do what you want and feel purpose in your life.
#10
A lot of swanky homes in coastal Florida are [going to become unlivable with sea level rise.](https://earth.org/sea-level-rise-in-florida/).
Keywords: Modern signs | Signs of wealth | Wealthy people | Money | Rich people | Rich life