8 Things Rich People Buy That Make Them Look Dumb

6. Servants

Thorsten Schmitt / Shutterstock.comThorsten Schmitt / Shutterstock.com

Nothing wrong with having some maid service if you can afford it. But live-ins?

Maybe if I was rich for long enough, I could get used to the idea of having people I don’t know all that well living with me. But I’ve had friends with live-in drivers, butlers, cooks and “personal assistants,” and to me it feels awkward having employees standing around.

I’ve always wondered: Do rich people have to get dressed if they want to raid the refrigerator in the middle of the night?

It’s a house, not an office building. If it’s so big you need a bunch of employees to run it, maybe it’s too much.

7. Clothes

HighKey / Shutterstock.comHighKey / Shutterstock.com

Clothes may make the man, but super-expensive clothes can make that man look like he’s trying too hard. As with jewelry, there’s a fine line between good taste and tasteless.

In my 10 years as a stock broker, I learned there was an almost inverse relationship between a person’s true wealth and his or her apparent wealth. In other words, the guy in the jeans driving the station wagon is the rich one — the guy in the fancy suit driving the Porsche is the one trying to sell him stuff.

8. Conspicuous consumption

Nejron Photo / Shutterstock.comNejron Photo / Shutterstock.com

Upstaging your friends with gratuitous material possessions or other forms of conspicuous consumption might do more than make you look rich: It might make you look shallow.

Ever see the bumper sticker, “He who dies with the most toys wins?” Dumber words were never spoken.

If you’ve got it, it’s no crime to flaunt it

If you’ve spent money on items in the list above, you probably found my critique inaccurate — even insulting. That’s not my intention.

Having wealth is good and spending money is fun. So what separates the shallow nincompoop from someone leading a life well-lived? It isn’t about the amount of money you spend or what you spend it on. It’s all about why you’re spending it.

If you don’t like yourself or live in fear that others don’t like you, no amount of money or possessions will change that. That’s what makes you look dumb: spending to boost your self-esteem.

On the other hand, if you like yourself and are spending to indulge a passion, or to make your life more interesting, good for you. You’re the type of spender I want to hang out with.

But I still don’t want to see how fast your Ferrari will go.

If you were rich, how would you spend your money? Sound off by commenting below or on our Facebook page.

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