3 ‘True’ Luxuries of the Modern Ultra-Rich — Can You Replicate Them?
Written by
Dawn Allcot
Edited by
Zuri Anderson
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As the trend of “quiet luxury” grows and evolves, the middle class is realizing that they can replicate many of the marks of the ultra-wealthy — even on a budget. Today, anyone can buy “dupes” (duplicates) of high-end brands in sneakers, bags and more.
But, to quote “Think and Grow Rich” author Napoleon Hill, “Remember that your real wealth can be measured not by what you have, but by what you are.”
The ultra-wealthy have taken this philosophy to heart, according to an article on the El Pais website. True wealth is no longer measured by the Hermes in your closet, but by the luxury of bucking the trends.
“Even the super rich… are turning to post-luxury, post-opulence culture,” the page reads.
Quiet luxury may not be as easy to replicate as the latest Louis Vuitton, but it is possible in some cases.
Time
Time is, perhaps, the greatest luxury. Eugene Healey, content creator and brand strategist, spoke to El Pais about how the ultra-wealthy can work a few hours a week and spend the rest of the time being “present and enough as they are.”
This might mean creating experiences but, more frequently, according to Healey, it may entail simply wasting time.
For the working class, it seems there’s always something to be done: Work, housework, personal care. The path to leisure lies in passive income, as Minority Mindset host Jaspreet Singh often discusses on his YouTube channel. Singh recommends dividend-paying stocks as one way to generate money without working.
Staying Off Social Media
The average American spends more than two hours per day on social media, according to a recent report from DemandSage.com. While many people spend that time doomscrolling or catching up with family and friends, others justify the time on social media as a way to build professional connections, look for work, or stay on top of the latest styles and trends.
Yet, the ultra-wealthy can afford to lock down their social media profiles and be “chronically offline,” in the words of Healey published by El Pais. While many well-known celebrities, from Elon Musk to Taylor Swift, spend as much time online as the rest of us (or even more) a vast majority of quietly wealthy individuals can, and do, opt out of building an online presence.
It costs nothing, and can actually save money, to stay offline or limit your time on social media. You can use apps that block social media during certain hours of the day. You might even find yourself richer in experiences if you aren’t spending time comparing your life to other people in your Instagram feed.
Choosing Your Biological Family
The ultra-wealthy are investing in IVF (in vitro fertilization) and other technologies to screen embryos for specific genetic traits. Silicon Valley high-earners are paying thousands (up to $50,000 in some cases) to screen embryos to eliminate the odds of their children getting cancer, for instance, or even to breed babies with a high likelihood of becoming geniuses, the Wall Street Journal and the New York Post reported.
The New York Post reported companies may charge as little as $6,000 to genetically test embryos. This is, of course, on top of the initial IVF costs. With good health insurance and a flush savings account, the technology is accessible to those in the middle class. Many people spend more than this, annually, on a Disney World vacation.
However, the ethics behind genomic choices makes this less a question of “Can people afford to do this?” and more a question of: “Should people do this?”
That consideration could set the ultra-wealthy apart from the rest of us.
“It is a great science fiction plot: The rich people create a genetically super caste that takes over and the rest of us are proles,” Hank Greely, director of the Center for Law and the Biosciences at Stanford University, told the Wall Street Journal.
Middle Ground
Signing off social media permanently, working just four hours a week, and choosing your own biological children may be new markers of wealth, less easy to replicate than pricey fashion trends. But taking small steps to build wealth and free up your time may lead to positive lifestyle changes you won’t find in the latest Birkin bag.
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