Personal Finance

Hiding Your Wealth – Why It’s Important In Today’s Society

hiding your wealth

In today’s society hiding your wealth is very important to not only your physical safety but for your emotional and financial safety too. In today’s article I discuss why you should hide your wealth and provide examples of how to do so. Let’s go!

Hiding Your Wealth – Why It’s Important Today

The Coronavirus Pandemic caused businesses to shutter and millions of Americans to be out of work. Food bank lines are miles long. Unemployed workers wait for hours to talk to a person so they get their unemployment benefits. Renters, like the ones in this article, haven’t paid their rent in months. Finally, nearly 9% of all U.S. mortgages are in forbearance, meaning the home owners haven’t made a mortgage payment in months.

I tell you this so you realize how many Americans are in desperate times right now. And desperate people can, and sometimes will, do desperate things.

So if you haven’t been affected by the pandemic much, or maybe you’ve made more money now than ever before, hiding your wealth should be at the top of your priorities for the rest of 2020. Here’s three reasons why:

  • Keep yourself and your family safe
  • Protect your emotions
  • Safeguard your finances

Keep Yourself And Your Family Safe

Hiding your wealth keeps you and your family safe because you appear like the others in society. Thus, you don’t make yourself a target.

So don’t wear the high-end clothes when you go out shopping. Yes, that means keeping the Prada, the Gucci, and other name brands in the closet. Wear non-brand name clothing to fit in with the majority of society. Of course you can continue to dress fancy if your job requires it.

If you drive a mid-range or even a high-end car, you can continue to do so as many Americans drive nice cars. So you don’t have to keep the car in the garage. Actually, you can see nice cars in the food bank lines I discussed earlier.

For my jewelry lovers I suggest keeping your necklaces, rings, watches, and more in the jewelry box at home for the time-being.

Protect Your Emotions

There is a very vocal part of the population that wants to “eat the rich.” These individuals do not like rich people for various reasons. Thus, if you pay attention to this populace you may feel bad about your wealth. You could think that you don’t deserve your wealth, or that you are a bad person because you have not only money but a job, food, transportation, and shelter.

Hence, hiding your wealth allows you to protect your emotions because strangers can’t point you out to make you feel bad about having more. You must remember that there will always been the rich and the poor. To help the poor you should give to your local charities. Speaking of which….

Safeguard Your Finances

Hiding your finances allows you to safeguard your finances because you don’t advertise how much you have. You will have family members or friends or even strangers come to you seeking financial assistance. While I’m fine giving out money, only give out what you are comfortable giving away.

I say that because you may not get this money back at all, or it may take the person a long time to repay it.

If you don’t feel comfortable giving out money, then you can always help the person in need in other ways. You can pay a bill, buy them groceries, or help him or her get public assistance. You can also help him or her find a job if he or she is unemployed.

At the end of the day you have to make sure you are prepared to survive these tough times. You can’t set yourself on fire to keep others warm.

BeatTheBush Discusses Hiding His Wealth

Good Advice From Wall Street Playboys

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