Untrue. Every wealthy person I know is investing their money not spending it. In fact most of these people are the cheapest people I've ever met.

The truth is, those without wealth but have money, waste it on trying to show off. That's why big "lux" brand companies target that demographic. The actual wealthy people I know don't buy Canada goose jackets or show off. Personally I think it's stupid to show off. I had an acquaintance buy a Canada goose jacket and laughed at my Eddie Bauer jacket (I have the expensive $400 parka, it's not like it's cheap, lol). I said, don't worry if we get robbed and they take your jacket I'll just say that I'm the poor friend with no money. Ha ha ha. Talk about advertising to thieves!. The truth is our wealth is far greater than theirs. They just don't know it because we drive a modest car and live a modest lifestyle while our $400 000 is all invested, mortgage paid, 2014 car paid off, and no debt. They drive a Tesla (loan- bad debt), wear name brand, and have around $50 000 invested, I also know their credit cards are often hitting the max. Their mortgage has become so high they are talking about having to sell because they can't afford the mortgage rate...lol. they brag so much and I have just smiled. I doubt disclosing how much we have is actually a good idea ...she's kinda toxic and I'm stuck with her. Lol.

The truth is people who are actually wealthy are investing their money and not spending it.