Most wealthy people do not live lavish lifestyles. There are a couple of exceptions such a large houses and private jets, but that has less to do with wanting a HUGE house than it is that their house is a real estate investment that they live in and in markets like NY and LA the real estate there is appreciating so quickly that a $4M house can be worth $8 million in no time and $20M houses can grow to $30M. The larger the house the larger the amount of money they make with the same percentage increase.
As far as the jet goes, that is about saving time over flying commercial. You have to drive to the airport, usually 1 hour away, you have to get there 2 hours early. You have to wait to board, wait your turn for take off, have a 3 hour flight, make your way through a large airport, find a taxi or car, drive to where ever you are going. End to end round trip time is 15 hours of wasted time. If you fly private, you only have to drive to the private airport near your house, 30 minutes, max, preflight on the way, take off and make your 3 hour flight, fly home and drive back to your house and spend 7 hours overall. That is a savings of 8 hours.
Also, there are billionaires like Warren Buffet that still live modestly - he’s lived in the same home since the 1950s.
Read other answers by Gordon Miller on Quora:
- What's the point in life without being rich?
- As an entrepreneur, can I become a billionaire if I don't go public?
- Is Steve Wozniak a billionaire? Why or why not?
from Quora http://ift.tt/2mw4Rsn
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