Money gives people the ability to insulate themselves from the outside world. They can buy quieter cars, houses in gated communities, and private schools for their children. They can also afford to take vacations to quiet places. This is why rich people are so quiet - they can afford to avoid noise.
Many wealthy people do show off, but most who don't are self-made ultra-rich. They do not follow social obligations so that they don't have to spend money carelessly to keep status and friends. They understand that old frugal habits are hard to shake. Ultra-wealthy do not feel the need to prove their wealthy to anyone.
Wealthy people often lead a low-key lifestyle. They don't need to flaunt their wealth because they have enough money to last them several lifetimes. Instead, they focus on enjoying life and spending time with family and friends. Wealthy people often have a different perspective on money than the average person.
Fear of losing their wealth
As it turns out, when we dig a little deeper, the affluent don't just fear losing some (or a little bit) of their wealth…they fear losing most or ALL of their wealth!
Their findings indicated that, on average, those with higher incomes spent more time alone and less time interacting with others. Those with greater incomes also spent less time with their families and more time with friends when they did socialize.
Sudden Wealth Syndrome (SDS) refers to a psychological condition or an identity crisis in individuals who have become suddenly wealthy. Sudden Wealth Syndrome is characterized by isolation from former friends, guilt over their change in circumstances, and extreme fear of losing their money.
Daisy Grewel of Scientific American writes, “Wealth and abundance give us a sense of freedom and independence from others. The less we have to rely on others, the less we may care about their feelings.
Also, financially successful people like CEOs and high-powered attorneys may experience high rates of depression because they work long hours and sleep less. They may also feel the need to meet high expectations. “Being extremely wealthy can also cause feelings of disconnection,” Marcum says.
Recently, a statement was introduced into the vocabulary of English-Language – 'The rich also cry'. The statement demonstrates, to a large extent, that even the rich people have their own period of time when life may prove very difficult and even meaningless to them.
Rich Mindsets Believe in Saving, Investing, And Multiplying. Poor mindsets splurge on materialistic things. Poor people end up saving nothing to invest. Rich mindsets save, save, save.
Poor budget choices and failure to follow simple basic financial principles can send even the richest people with a high net worth into debt.
The bottom line: Money can’t make you happy if your increased wealth brings increased expectations. In other words, if you want more as you earn more, you’ll never be content; there will always be something else you crave, so you’ll need to work even harder to get the money to buy it.
Introverts are creative thinkers
There is a link between introversion and creativity. If you look at some of the world's preeminent inventors, writers, and entrepreneurs, most of them are introverts. That's because introverts enjoy expressing themselves creatively through their work.
The research between salary and happiness suggests similar insights. Even those on the Forbes 100 wealthiest were only slightly happier than the average Americans, according to a study by Ed Diener of the University of Illinois.
Researchers have pooled data on the relationship between money and emotions from more than 1.6 million people across 162 countries and found that wealthier people feel more positive “self-regard emotions” such as confidence, pride and determination.
Indeed, some wealthy individuals are even said to suffer from “affluenza,” a social condition among those who are excessively focused on material possessions and consumerism, to the point where their personal values and behaviors are negatively impacted.
Key points. Millionaires tend to be happy, but not extremely happy. At very high levels ($10M+), multimillionaires tend to be slightly happier than millionaires. Self-made millionaires are happier than those who inherited their millions.
Rich people tend to be a source of envy and distrust, so much so that we may even take pleasure in their struggles, according to Scientific American. University of Pennsylvania research demonstrated that most people tend to link perceived profits with perceived social harm.
Mentally rich is the ability to build a sense of belonging, in which you realize your own abilities and can cope with the normal stresses of life.
Narcissistic personality disorder (NPD) is associated with an assortment of characteristics that undermine interpersonal functioning. A lack of empathy is often cited as the primary distinguishing feature of NPD.
It was found that highly intelligent people are more likely to behave in ways that contribute to the welfare of others due to higher levels of empathy and developed moral identity.
Using this measure another global study, this time measuring over 40,000 people in 67 countries, found that those who perceived themselves to be lower on the ladder scale gave more in a hypothetical donation task. So lower subjective wealth predicted greater generosity.