What do rich people spend their money on? For some reason, an individual I know attracts many rich people in the world to his life. He doesn't do anything marvelous nor extraordinary. He's not famous or celebrity type. His friendship with these billionaires and the rich people gave him the opportunity of spending time with many successful bright-minded people that are extremely high net worth. He's spent time with eight different billionaires. He's dated one of the daughters of a billionaire years ago and has gotten a peek into the luxurious lifestyle. My old boss's boss is the richest person living in Vietnam. I learned about their struggles and their goals. I learned how they live their lives and struggles were before they were rich. In this article, I will be explaining the levels of wealth and lifestyle.
There are different levels of wealth. The article will be more focused on the levels of wealth, the mindset of an entrepreneur, and rich people in America. This is my first-hand knowledge:
Wealth Level 1 "Creating Streamlines of Income"- $50,000 to $100,000
At this level, you're most likely starting with ideas and slowly building an empire. With $50,000 in your bank, you're already in the top 15.38% richest people in the world. You're most likely investing your money into stocks/cryptocurrencies or considering a start-up. You want to create streamlines of income while brainstorming every night in your apartment or your parents' house. You're living a decent life but are still trying to survive. You're probably still working at your 9-5 job with the boss you hate and thinking extremely hard on your plans and future. Your desire and motivation sometimes can be depression and sadness. You fight and battle this battle to achieve your goals.
You have a list of side projects hoping for it to succeed so you can become your own boss one day. You tell yourself every day that you will retire at an early age. You fail and fail consecutively but never quit. You probably hit the bar or reward yourself with something nice to enjoy once in a while. You tell yourself that money buys everything while others tell you it doesn't. You set goals after goals. You meet with other entrepreneurs and learning new ways and using their knowledge to push yourself into the next level of wealth. With such a unique mindset, you realize that aiming to be one of the rich people will be one of the loneliest journeys in the world.
Wealth Level 2 - $100,001 to $1,000,000
Congratulations! You made it past $100,000. Whether it's your cryptocurrency skyrocketing or your start-up became a success, you have finally made it to level 2. At this range of wealth, you achieve a feeling of near financial freedom. You have more time for yourself so you brainstorm more projects. More money equals more experience. You have more time to focus on your work and hobbies. You can live your life with less stress and burden when you used to live from paycheck to paycheck. You have decent savings. You can travel and learn. Remember the time when you wanted to work full time on your blog, photography, dance, or music? You have the time to work on it now. You have more time, but you are still careful with your money because you're aiming to achieve level 3.
At this point, you are likely getting to know businessmen and many entrepreneurs. Your networking is starting to expand. Your start-up and business decision can be risky because you can lose money or gain money. You continue to execute plans after plans because you crave success. You continue to fail at your projects but you learned how to avoid your mistakes.
Wealth Level 3 - $1,000,001 to $10,000,000
Here you are still learning more ways to increase your net worth. You are considered to be one of the rich people but to you, you're not. You're likely driving a nice car. You have the power to start several franchises. You own a nice house. You can manipulate market capitalization in stocks and cryptocurrencies. You have a little more power now. Other entrepreneurs and successful individuals are starting to become more aware of your success now. Your life is luxurious but you are still careful about how much you are spending because you want to achieve wealth level 4. You can start a new company and hire your own employees. You can open an office and have salespeople cold-call for your business. Life is great at this point but you want to become richer. Your business decisions can either make you money or lose your money.
Wealth Level 4 - $10,000,001 to $30,000,000
At this level, the majority of your needs are met. Your life is comfortable. You're almost stress-free (not including business stress because they exist at all levels). You're living the dream. Your life is at a 4-star/5-star level. Occasionally, you can book a suite anywhere you want for around $2,000. You can sometimes travel the world flying first class. You have a great looking house, you can afford any healthcare you desire, and you're not likely to deal with any emergency financial situation. You are not "wealthy" in a way that your net-worth doesn't matter. You will still have to be reasonable and careful with your business decisions. The banking world and reserves still don't classify you as 'extremely high net worth.'
Wealth Level 5 - $30,000,001 to $100,000,000
At this point, your network of successful people is completely different than when you had your first million dollars. You play with the bigger people; the big boys. You can fly privately. You can partially own a jet from companies like "Net Jets" or whichever it is that you're content with. You're traveling the world while constantly staying at 5-star hotels. You own multiple homes. Your vacation can be whatever you desire. You can travel to the richest city and celebrate Christmas for a week. You can go to Monaco for the Grand Prix. You can travel to Canne for the film festival where rent per night in these places can go for about $5,000 minimum per night.
Because of the success of your company, you have interests in other companies. You think about buying out companies or selling the ones you're not content with. You socialize with political figures and leaders. You are a highly well-respected individual in almost any community. In Beverly Hills, you are just a casual minor player. You might not even get a reservation at the city's hottest restaurant unless you throw around your weight. You have any selection of cars to choose from in the market for your next vehicle purchase. You have private personal assistants that are beginning to have 'people' that others have to speak to to get to you. You can travel anywhere in different styles. You can purchase pretty much anything that ordinary people think of it as 'rich people stuff.'
Wealth Level 6 "The Wealth Beyond Wallstreet" - $100,000,001 to $1,000,000,000
It sure is a wide range, but life doesn't change much when you go from being worth $100 million to $900 million. At this point in your life, you're likely to have your own private jet. You probably have multiple residences with your own selected staff and even nice cars at each of them. If you have ownership or control over a well-known business that most of the public has heard of, you can socialize with celebrities or politicians. You might not get an invitation to all the parties, but you can basically go almost anywhere with your connections to powerful 'people' and staff. Your surroundings now are full of 'yes men.'
Your ability to purchase valuable possessions becomes an art. One of your vacations could be a five-bedroom house in an expensive city, but that's not truly impressive. Do you possess a mini private island? Your billionaire friend owns a nicer one. You just had breakfast with several political figures? Cool. But your billionaire friend just ate breakfast with the president. Do you have a Lamborghini? Your billionaire friend thinks their handling sucks and has a one-and-only-car in the world. You will meet many people, but it will be tough for you to emotionally connect. Friends and family who love you for who you are have become rare at this level of wealth. They exist but it's difficult to know which person truly cares.
Wealth Level 7 - more than $1,000,000,000
I'm not going to add a $10,000,000,000+ level because they live a head-of-state life. But when you're at 1,000,000,000 dollars or more, your life completely changes. You can purchase anything for your desire in broad terms. You can buy influence. Influence for your brand, for a political party, or for anything you would want to bring attention and awareness to. You can buy time. You will never have to wait for anything and that includes traveling, You don't wait for your plane because your plane waits for you. You will get to experience almost anything. If you dream of it, then you can have it. You want to shoot basketballs with famous athletes, then feel free. Your money can impact the world or changes a person's life. You can cure a disease with the fundings you've provided. You will become well-respected by almost every person.
Your Perspective Of Money
Your perspective of money is different at this level. One of the richest people in the world makes $400 million per year. If you compare it to a person that makes $40,000 a year, then that's 10,000 times more. A new Lamborgini for the successful businessman from his perspective to an ordinary working person is $23.50 when the ordinary person views it at $235,000. First-class ticket internationally? The $10,000 ticket becomes $1 to the rich man's view. A $10,000,000 piece of rare art becomes $1,000. There is nothing you can't buy except love and time.
You made it here. You are considered one of the rich people on this planet. What do you do next?
The perspective in the view of money has been unique in my eyes since I was a kid. From learning about rich people's experience, it's almost impossible to have a regular emotional relationship at this level in wealth.
My next article will be explaining in-depth what billionaires buy. This will be an in-depth article about their access, influence, time, experiences, impact, and respect. Subscribe to my blog to get notified of my next article. I hope that this article helped you see money in a way that most people cannot. You can also contact us if you have any questions. Comment your view on money and opinions below.
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