There are many ways people can come into money, be it a lottery winning, a successful business venture or inheritance, there are various methods to attaining great wealth. A lot of thanks can be from the dotcom boom and the money that poured into Silicon Valley allowed for many people to join the ranks, earning millions and entering the class of the newly rich otherwise known as the nouveau riche.
Coming into a large amount of money is when people tend to splurge, celebrating the worries they no longer have. This is not that rich people do not worry about money, they simply put much more emphasis on having fun while spending it. One thing is for sure the greater the amount the more toys will be bought.
Those who have been wealthy for all of their lives, also know as old money may spend differently, they aren’t used to having monetary worries. Most will spend in a relaxed manor for they already live in a large home, drive fancy cars and eat expensive foods. Their entourage is most often of the same wealth class. After all, they’ve had money since the day they were born. But for the nouveau riche whose memories of the hardship days are still fresh in their minds, spending on items to catch up with the old rich is understandable, if not unavoidable. Most people already have prepared what their first purchase would be as a multi-millionaire. Here is a list of the top 10 things that the nouveau riche spend money quickly on after making it. Let’s see if you agree.
10. Second House
It is not enough to buy a mansion or an estate in an exclusive and gated subdivision with guards and security, expect the nouveau riche to buy a second house as well. Why not have a place of your own in a location that you intent to visit quite often. If they live in the west, maybe they would buy a house on the opposite coast. If he/she lives up north, maybe they’ll purchase a second one in the warmer climate of the south. A vacation house fronting the beach or lake would do, as well as a log cabin in the Aspens or in New England. Or maybe, a ranch in Montana sounds more interesting. A vacation home is not only for the owner to enjoy but it offers the ability to share with family and friends.
9. Private Jet
Now that money comes easy, nouveau riche tent to be less patient when it comes to travel arrangements. Screaming children, flight delays, passing through immigration, most can understand why flying first class may not always solve he problem. Why go through all the hassle if their is means to buy a very own jet that could taking you anywhere any time you feel like traveling? Those new to great wealth get to travel when they are good and ready, and they won’t be slaves to an airline’s scheduled flights. This can allow for custom vacations that friends and family can join in on.
A yacht is a symbol of luxury and wealth, so expect the nouveau riche to buy one. They get to travel by water in style. It also means membership in exclusive yacht clubs where they can hobnob with other equally rich members of society. Anchoring off the shores of Cannes or Monte Carlo, where they could stay and while the time away as the Cannes Film Festival or the Monte Carlo Formula One Grand Prix is being held. They get to watch from a unique vantage point, and they get to be watched by people ogling at the rich and famous.
7. Luxury Accessories
Louis Vuitton, Gucci, Rolex, Patek Philippe, Prada, Salvatore Ferragamo, Versace, Dolce and Gabbana, Hermes, Giorgio Armani…all expensive products of these famous brands are suddenly affordable, so expect the nouveau riche to stock up on these luxury accessories. The items to purchase would seem almost endless, from belts, bags, shoes, trunks, timepieces, leather items and other items, the nouveau riche will find a use for all of them, but preferably with the brand’s name strategically engraved in a conspicuous part of the accessory. Imagine being able to decorate your home/homes in luxury brands, laying down on your Versace sheets at the end of a long tiring day of shopping.
They say that diamonds are a girl’s best friend, but these are also the objects of desire of the nouveau riche. Expect them to buy matching jewelries, from the necklace and earrings to the bracelet and rings, and maybe even a platinum anklet or two, all of which are studded with expensive diamonds with the most expensive cut possible. Stepping out of the house for an evening will be like attending a red carpet event, jewelry strung from as many places possible. The men and women alike will enjoy buying new bling to sport for all occasions.
5. Toys and Gadgets
Every year, or sometimes even more frequent than that, new toys and gadgets are introduced into the market. Apple and Samsung have flooded consumers with not only desktop computers and notebooks, but also tablets, music players and smart phones. Now is it common to see such items adorned in jewelry, items that can only be purchased by the wealthy. Then, there are the game consoles from Sony, Nintendo and Microsoft. There are also handheld game consoles from these same companies. All these can easily be purchased by the nouveau riche, meaning the latest in technology would always be at the tip of their fingers. Maybe, they can even get the spruced up versions created by the likes of Stuart Hughes.
4. Designer Clothes
Money allows you the luxury of adding clothes to your wardrobe collection. As a matter of fact, it allows you the luxury of changing your entire wardrobe. Never to wear the same outfit twice. Fashion houses regularly introduce new trends in shows in Paris and Milan. If a new cut or new color becomes the latest in-thing in the market, expect the nouveau riche to be among the first in line in adopting the latest trends. Or maybe, a new suit from Brioni or Savile Row for the man in the family is in order for a classic and stylish look that subtly announces that he/ she has indeed made it.
3. Exotic Vacation
Those vacation ads that once made you cry are now the pamphlets you give your travel agent for ideas. Finally, all the photographs of those amazing vacation spots can be viewed in person because these are some of the first things that a nouveau riche would definitely do. Whether it is in the classic cities of Paris or London, the exotic spots of Machu Picchu or African Serengeti, or maybe the isolated beaches in the Philippines or the Caribbean, a vacation to celebrate their newly found wealth is in order. This is not to say they will spend their vacation in one place, why not travel the world? The possibilities are endless and this is their first time to vacation this way, let it be known, no expense will be spared.
The old house with the crazy neighbours in the suburbs will not do anymore for the newly rich. They definitely will take a liking for those 20,000-square-foot houses that sit on a nine-acre property. You know the home that takes you ten minutes just to get up the driveway. It should have 10 bedrooms and 10 bathrooms, separate quarters for the help staff and guests, centralized air-conditioning and heating, indoor and outdoor pools, tennis court, gourmet kitchen with state-of-the-art stainless steel appliances in counter tops made of granite, flooring made of Italian marble, windows that run from the floor to the ceiling, library, gym, and fireplaces. You get the idea, the nouveau riche are now living large in an elite neighbourhood with lawns so large you don’t ever see your neighbour, unless you invite them over to see your new luxury sports car!
1. Sports Car
Say goodbye to the ’92 because you are gifting yourself the nicest wheels in town. A car upgrade is a must for the nouveau riche, and it can’t be just a simple car, why would it?Not even modified luxury German cars, like the Mercedes Benz AMG or Brabus, or BMW M, or Audi Quattro, would do. What they really want is a super sports car that loudly announces wealth. Many choices are available in this category, from the likes of Lamborghini, Ferrari, Maserati, Porsche and Bugatti. If deciding on a colour is an issue then they might even get two or three! Gas consumption is not an issue, and the faster it goes from zero to 60 miles per hour, the better. A high end car is not only a dream purchase for men, women alike would enjoy running errands in a multi-million dollar car.
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