LPT: If you wish to save money, do anything you can to keep your finances a VERY private matter from friends and family.

You know, I see advice like this on reddit all the time, including on /r/personalfinance, saying that if you make a lot of money, you have to hide it from friends and family. This is based on two things that I find to be totally alien to me:

  1. That your friends and family are money-grubbing, have no prospects of ever making money themselves, and are so jealous / envious / greedy they won't be able to help themselves if they find out you have money.
  2. You are somewhere where you don't know anyone who has any sort of money.

Where are these places that are full of people in (1) and have no one in (2)? It is so fucking foreign to me I cannot even begin to imagine it.

Then again, I'm a corporate lawyer in NYC. My private school growing up is now 32k a year - and though most of my friends are themselves not "wealthy," but middle class or upper-middle class, we grew up around the ultra ultra wealthy (in my graduating HS class of just over a hundred, there were members from 4 billionaire families and dozens of millionaires) - and you know what? The kids, who, like me, where scholarship kids or just grew up in families that were doing well enough to send their kids to private school but not wealthy were not envious lunatics. And my family is huge - and they range from people with working-class jobs to professors to bankers - and money is just not a source of friction between any of them.

I just do not understand this advice at all. Personally, I feel sorry for people that have to hide money from their families - that means their families are, sorry to say, just fucking classless. Crabs in a bucket? Is that an actual fucking thing? Am I that goddamned sheltered?

/r/LifeProTips Thread