Went out for dinner yesterday at Bar-Roque Grill on Tanjong Pagar Road with my wife’s family to celebrate birthdays and Father’s Day. Good fine and wine makes for a nice celebration. My wife and I should also be going out by ourselves for a Japanese lunch tomorrow on our day off. Always important to have couple time no matter how busy we get.
Random topic that just popped into my head. Have you heard of the concept of stealth wealth? The idea that the wealthier you become, the more hidden in society you get. I first read about it on Financial Samurai – The Rise Of Stealth Wealth: Ways To Stay Invisible From Society If You Have Money. It talks about how to practise stealth wealth and its benefits. Fascinating read!
Not that it is easy to do in real life. My wife’s family is a good example of this. You can consider them upper middle class in the Singapore society. They live in a freehold terrace house in the East Coast that is fully paid off and renovated with the works several years ago and own 2 nice cars that are also fully paid off. Their monthly spending on dining, shopping, travel and entertainment is equivalent to ours despite not having any more loans to deal with. However, this may change now that my mother-in-law just retired.
Although my parents-in-law don’t say it, the perception that they have more than enough money to spend on what they want is important to them. I reckon the circle of people they meet and interact with contributes to this as well. After all, you are going to attract people who think and behave in a similar manner as you over time.
When I first met my wife, you could tell the same tendency in her. But the biggest benefit of meeting your partner young is that there is time for you to change for the better for each other’s sake. Studying, working and living overseas in Australia where the society is more laidback about wealth also helped to ingrain in us a more grounded approach to money.
I wouldn’t say stealth wealth is easy to practise in Singapore. Even we have taken advantage and made use of my parents-in-law’s financial status. It takes conscious effort and constant reminder that we are fortunate to be in such a position. Humility is an attribute we consistently try to forge in ourselves. But we have heard people that we are not close to talk about us in a negative light. There are critics everywhere no matter what you do.
Which brings me to my next point about the power of anonymity. I enjoy writing about our personal and financial pursuits in the public space because I can debate the internal and external challenges, difficulties and doubts without hindrance. Of course, this is only possible without the fear of getting judged based on the sole condition that we remain anonymous.
I have no interest in revealing my identity, bringing more traffic to my blog or passing my knowledge on to more people in the public space. Readers can takeaway the parts that are relevant and discard the rest that are not. With this polarising approach, monetising the blog becomes almost impossible. Which is fine with me for now. Maybe one day, I might do something personal finance related that actually generates income. But it wouldn’t have anything to do with Finance Smiths. This is my personal space that I hope to maintain for a long time. Well, as long as people don’t figure out who we are.