24/7 Insights

• This Redditor is worried about hiding his millions from his neighbors. 
• The reality is that many of his neighbors probably won’t care. 
• Someone else he knows might be in a similar situation.
• Also see: How one man went from “way behind” on retirement to ahead of schedule.

While not many of us will ever be in a situation where we are hiding significant wealth, this Redditor is doing exactly that. Posting in the subreddit r/fatFIRE, this post brings up a concern over how to hide the fact that he is hiding millions from his friends and neighbors. After living a mostly unassuming life as a child, he inherited money and now lives as an “under-the-radar” millionaire. 

Moreover, this person isn’t interested in showing off his wealth. This means there is no apparent interest in fancy things like luxury cars, a bigger house, a boat, or even fancy vacations. Instead, they want to live an unassuming life with normal friends. However, it does bring discomfort whenever the conversation turns to retirement or when he walked away from a career without a safety net. 

I’d love to be in this situation where I have to hide significant wealth. This post should resonate with more people than anticipated, as many are likely empathizing about not trying to be dishonest but maintaining a sense of normalcy in his life. 

The Scenario

While a dollar amount is never mentioned, it is likely in the mid-to-high seven figures. The dollar amount may be higher, but I’m making my best guess as it’s never discussed. Our story starts with the idea that this Redditor did not grow up with many luxuries. There’s an emphasis on his family not living a fancy lifestyle. 

Instead, he mentions living in an “unassuming house” and his dad driving a used Subaru, which is the opposite of anything trying to show off their success. He also emphasizes that he didn’t even know his family had wealth until he was 18. Thankfully, his parents instilled in him a good financial sense, and he talks about still living a “normal” life. 

However, where things get interesting, his post is about talking with anyone who might be in a similar situation. He hopes other Redditors can help him navigate conversations and friendships with neighbors who have no idea he is “hiding” millions of dollars in the bank account. 

The Recommendation

If we’re being honest, I can safely say I am not in a similar situation where I am hiding millions of dollars from my friends and neighbors. However, I’d love to imagine myself in this situation so I can at least provide some thoughts. As a casual reminder, I am neither a financial advisor nor a therapist, so any recommendations are based solely on what I think I would do if this were me. 

So, if this were me, I wouldn’t do much of anything different. Neither your neighbors nor your friends need to have any personal info on your bank accounts. It’s not their business, just as their financial situation isn’t any business of yours. It’s even possible some of these neighbors will be in a similar situation as they have their parents passing away. 

Remember, the greatest transfer of wealth in history is about to pass from generation to generation, so this Redditor shouldn’t feel any guilt. Nobody is asking him for money, and he’s not using the money for anything extravagant that might give people the wrong idea, so why try and mess with what seems to be an easy scenario right now? 

The Takeaway

We’ve all heard and seen the scenarios about how people react differently to inherited wealth. Some go crazy and burn through all of the money in no time, while others look to set up generational wealth. If I were this Redditor, I’d emphasize not doing anything different other than continuing to use the money and live a life he’s happy with. 

While there’s no mention of a spouse or family, it wouldn’t matter. It might make the difference between sending the kids to a good school or a great private school, but outside of that, if this Redditor wants nothing in life other than advice, keep on living.

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