Individuals who may be insecure about their place on the financial ladder are, typically, those who are newest to wealth. They are flashy and make it a point to tout.
The idea of the being “stealthily wealthy” arose as a response to this phenomenon. The best way to reserve and keep cash is to do so by having a mature view of what having wealth means and maintaining a nuanced view of risk. This practice is suggested instead of fearing of possible mistakes and agonising over risk. You can stealthily protect your wealth if you follow the tips below:
1.) Never Drive a Nice Car to Work
Upon running into co-workers, they will think you are poor or frugal if you drive the safest and most economical car. Announce your love for trains and buses, and use them over private transportation means. The last thing that you want is for your boss to see you rolling up to the office in a Porsche. If this happens, his or her immediate response may be to cut your possible bonus awards since you are, obviously, doing so well already. As another example, prospective employers will also judge you if you show up to an employee salary negotiation session in a Bentley.
2.) Protect Your Home Address
With the advent of the internet, people are able to snoop and see the amount you paid for your property. With these sites, they are also able to clearly see whether you are making huge equity in your investment or under water. As a suggested practice, give cross streets and a brief description of your place instead of an exact address. Protect your house’s privacy as it is your sacred place of abode.
3.) Always Say It’s Fake
No matter the item, Swiss watches or Italian shoes, if asked about the item, always respond by telling the person the item is a replica. Since you’re already an established individual, hold back the urge to brag about things that you own. Knock-offs are great nowadays, which will help your story of purchasing the item from a flea market or overseas outlet. After all, the items you purchase and acquire are done so for your own pleasure. By pretending that you don’t know the cost, brand and origin of the item, you can simply say that you like how it looks and leave it at that.
4.) Use a Visa Prepaid Card
Unwanted attention can be garnered from the simple swipe of a high-limit credit card. It can also be potentially dangerous and unsafe for you during purchases to show that you possess such a card. With the use of a Visa prepaid card, these problems may be mitigated and they prove to be an effective alternative method of payment as they function similarly to traditional debit and credit cards. A prepaid card can be used to make purchases online, in-store, and even withdraw money from ATM machines worldwide. With a Visa prepaid card, you can give your finances and identity enhanced security, because just like conventional debit and credit cards, these prepaid cards are armed with a chip security system and PIN. Also, a prepaid card application does not require a credit check since the card is not linked to a credit facility. In the event that the card is stolen or lost, potential damage is limited since you are only allowed to spend the amount loaded. Visit www.t24blackcard.com to learn more about prepaid cards today.
5.) Spread Your Assets
Unless it is really your choice, do not strive to become the largest shareholder in a private equity deal or to be one of the largest land owners in the area. Diversify your investable assets across a broad range of products so others can’t tell how much you are worth. Spreading out your assets adds the security that your holdings aren’t wiped out in the event of a downturn in one specific area.
People will realize that you are richer than you make yourself out to look, sooner or later. At this time, they will also see that you have been unassuming and humble during all the times that others shared about their achievements and net worth. Keeping to the idea of “stealth wealth,” aided by the use of effective financial tools, such as Visa prepaid card, and diversifying your portfolio ensures that that people cannot judge you by your net worth.
To learn more about Visa prepaid cards and how it can protect your finance, please visit www.t24blackcard.com.
Katie is a finance specialist with one of the biggest firms in London. From savings to investments, there’s nothing she can’t advise on and she’s here to help spread the word and help you on your way to financial freedom.