A quick search of “spending habits of the rich” will yield the usual pieces of advice, like the wealthy stick to their financial and , spend money to make money, generate passive income, learn from their mistakes, ride out market fluctuations better by protecting themselves from market volatility, and avoid frivolous purchases. The richest households are significant savers, keeping the majority of their gross income and investing money rather than spending it on status symbols that depreciate in value. When it comes to buying vehicles, they spend money in the right way.
They don’t “drive rich.” More than a decade ago, sought to find out if rich people preferred different, or more expensive, cars than the average American. Using data provided by Experian Automotive, Muller predictably found the top four choices for people who earned more than $250,000 were luxury models: the Mercedes-Benz E-Class, the Lexus RX 350 and the BMW 5 Series and 3 Series.
What was unanticipated were the rest of the top 10: “Three Hondas, a Toyota, an Acura and a Volkswagen.” A full 61% of high-earning households surveyed stated they don’t own luxury brand cars. It seems that the majority of wealthy people neither overspend on expensive short-term satisfiers, like or , nor cheap out on used .
The wealthy tend to snap up higher trim models from “regular” brands and less expensive models by luxury brands. . Earning passive income doesn't need to be difficult.
Famously driven by Jeff .