How to Act Like a Wealthy Person

Transcript of Podcast Episode 273

Hello this is Bill Rainaldi, with another edition of Security Mutual’s SML Planning Minute. In today’s episode, how to act like a wealthy person.

There’s a saying: The way to become what you want to be is to act like you’re already there. In other words, fake it until you make it. With that in mind, a recent article suggests some ideas on how you might be able to feel like you’re a wealthy person, even if you’re not.

A note of caution here. These ideas are not going to make you wealthy. But they may give you some insight on how the other half lives.

The article, by Bryce Sanders for Think Advisor Magazine[1], took a tongue-in-cheek approach to acting like a big shot. Some of these ideas may cost you money. Others are simply suggestions on etiquette that wealthy people tend to observe more than the rest of us. Among them:

• Dress well. Sanders reminds us that you are always projecting an image, even if you’re just picking up the groceries.
• Hold the elevator door. And not just the elevator door. Hold other doors as well. It’s a subtle reminder of your courtesy, and it elicits a “thank you” more often than you may expect.
• Treat service staff as equals. Sadly, some people seem to think that they can elevate their social status by talking down to others. The opposite is true.
• When you’re at a restaurant, wait until the host orders. Should you get an appetizer?  Allow the host to set the pace. You want to pay attention to the prices, especially when someone else is paying.
• Wait until everyone else has been served before starting your meal. Unless your host suggests otherwise.

In conversation, allow the other person to speak. As the author says, “In polite society you wait until the other person has made a point.” And wait an extra second or two to be sure.

• Be sure to introduce your guests when someone starts talking to you. It also helps to include a few details about each of them.
• Make conversation with the people on each side of you at the table. But don’t turn your back to someone so you can talk to someone else.
• Offer to help paying the bill. If your host declines, you can still offer to pay the tip. However, this may be impractical if you’re a guest at a private club, where the entire amount usually goes onto the host’s account. If this is the case, you can offer to treat them to the next meal.
• When you’re invited to a charity event, send a check. If you’re invited but can’t make it, you can (and in many cases, you should) support the event by making a contribution before the event takes place.
• Don’t be the last one to leave the party. If your host is cleaning up, it’s time to go. Or help them out if that’s appropriate.

And we’ll add one of our own. When you meet someone new, make an effort to learn and remember their name. This is trickier than it seems. Often when someone says, “I’ve forgotten your name,” what they really mean is that they never learned it in the first place.

The point here is that these are some of the ways wealthy people tend to act. Maybe you’re one of them, maybe not. Either way, a subtle, unspoken message can go a long way with them.  Very often people judge you by the way you treat them, or by the way they see you treating others.

[1] Sanders, Bryce. “12 Ways to Act Wealthy.” Thinkadvisor.com. https://www.thinkadvisor.com/2023/12/18/12-ways-to-act-wealthy/?printer-friendly (accessed Feb. 20, 2024)

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