Stealth Wealth & Pain Doctors: More Common Than We Think?

[drusso]

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I ran into a real Baller the other day who has lived a life of stealth wealth. This guy, a fellow pain doctor, basically looked like a homeless hippy but has two ASC's, beaucoup real estate, imaging centers, etc. Drives a Subaru. Lives in a 2 bedroom apartment. Has had a girlfriend for 15 years, never married. Never owned a home or a new car. It made me wonder how common this is...

Stealth wealth: Why this millionaire hides his riches

Stealth wealth allows people to mask their riches. So we talked to a millionaire who practices it to ask him one question: Why?

www.iwillteachyoutoberich.com

.

"We embrace stealth wealth by driving average cars, living in a respectable and safe middle-class neighborhood, and doing normal things that normal people do,” Dr. Erikson says. “My wife is in a book club, I’m in a curling league, and our kids attend a great public school. We have neighborhood campfires, watch football, and drink quality craft and homebrewed beer.”

 

[Ronin1]

The secret to monetary wealth: no kids

 

[deleted131481]

Humble house and humble car will cut expenses tremendously.

 

[willabeast]

I ran into a real Baller the other day who has lived a life of stealth wealth. This guy, a fellow pain doctor, basically looked like a homeless hippy but has two ASC's, beaucoup real estate, imaging centers, etc. Drives a Subaru. Lives in a 2 bedroom apartment. Has had a girlfriend for 15 years, never married. Never owned a home or a new car. It made me wonder how common this is...

Stealth wealth: Why this millionaire hides his riches

Stealth wealth allows people to mask their riches. So we talked to a millionaire who practices it to ask him one question: Why?

www.iwillteachyoutoberich.com

.

"We embrace stealth wealth by driving average cars, living in a respectable and safe middle-class neighborhood, and doing normal things that normal people do,” Dr. Erikson says. “My wife is in a book club, I’m in a curling league, and our kids attend a great public school. We have neighborhood campfires, watch football, and drink quality craft and homebrewed beer.”

it is not what you own, it is what your net worth is. this fellow could be deep in debt. or not. i knew a GP 30 years ago who rented out about 50 homes he "owned".. he got into an indefensible malpractice suit and had no malpractice insurance. probably still working.

 

[SommeRiver]

Had to fix one of my AC units last week for a clean $2800. Of course, they tried to get us to add another $2200 in extra BS.

 

[DOctorJay]

I ran into a real Baller the other day who has lived a life of stealth wealth. This guy, a fellow pain doctor, basically looked like a homeless hippy but has two ASC's, beaucoup real estate, imaging centers, etc. Drives a Subaru. Lives in a 2 bedroom apartment. Has had a girlfriend for 15 years, never married. Never owned a home or a new car. It made me wonder how common this is...

Stealth wealth: Why this millionaire hides his riches

Stealth wealth allows people to mask their riches. So we talked to a millionaire who practices it to ask him one question: Why?

www.iwillteachyoutoberich.com

.

"We embrace stealth wealth by driving average cars, living in a respectable and safe middle-class neighborhood, and doing normal things that normal people do,” Dr. Erikson says. “My wife is in a book club, I’m in a curling league, and our kids attend a great public school. We have neighborhood campfires, watch football, and drink quality craft and homebrewed beer.”

That’s the Physician on Fire

 

[georgiamd]

The secret to monetary wealth: no kids

and no divorce

 

[pmrmd]

The secret to monetary wealth: no kids

and no divorce

The secret is don’t get married in the first place unless it’s an ex-Mrs. Bezos type.

 

[willabeast]

The secret is don’t get married in the first place unless it’s an ex-Mrs. Bezos type.

maybe a pre-nup?

 

[SSdoc33]

The secret is don’t get married in the first place unless it’s an ex-Mrs. Bezos type.

this point is indisputable

 

[Doctodd]

marry someone with more money than you so the attorneys cant ask for you to pay their client's bills IN ADVANCE in the name of a fair trial

 

[lobelsteve]

If you cannot find happiness at $200,000 per year.....you will never find it. Accumulating wealth can be great for your children but if they’re not raised properly they will blow it.

 

[hyperalgesia]

If you cannot find happiness at $200,000 per year.....you will never find it. Accumulating wealth can be great for your children but if they’re not raised properly they will blow it.

Bingo

 

[hyperalgesia]

maybe a pre-nup?

My understanding is that, to protect your existing wealth, you have to "quarantine" it in a separate account and never touch it.

As soon as you access it during your marriage, the entire account is considered a joint account.

 

[Doctodd]

prenups are not ironclad, but better than nothing....you could add a postnup to it.

 

[Laryngospasm]

Develop a gambling problem. Hide money in other account. Problem solved. You’re welcome.

 

[gaseous_clay]

The secret to monetary wealth: no kids

Let’s also add not getting married, especially if he doesn’t lives in a non common law state.

 

[hyperalgesia]

Develop a gambling problem. Hide money in other account. Problem solved. You’re welcome.

When asked by a judge to disclose all your assets? I'd prefer to avoid the criminal route if possible lol

 

[SommeRiver]

Marriage prolongs life and adds meaning to one's existence. Don't marry an idiot and I suggest a prolonged courtship (5 yrs for me). Don't live together before marriage. After tax money of about 7-8k per month is around right about the point where it no longer adds to QoL.

 

[SSdoc33]

Marriage prolongs life and adds meaning to one's existence. Don't marry an idiot and I suggest a prolonged courtship (5 yrs for me). Don't live together before marriage. After tax money of about 7-8k per month is around right about the point where it no longer adds to QoL.

funny post.

i have never heard of putting a price on how much "love" is worth. i love my wife at $7,999/month, but once she tips over 8K, thats IT!!! its over!!

also, 5 year courtship but why not live together before marriage? seems like you should know how it'll work out before you commit your nest egg

 

[SommeRiver]

funny post.

i have never heard of putting a price on how much "love" is worth. i love my wife at $7,999/month, but once she tips over 8K, thats IT!!! its over!!

also, 5 year courtship but why not live together before marriage? seems like you should know how it'll work out before you commit your nest egg

That 7-8k number is from an article I read that made a compelling argument that once someone makes around 80ish per year after taxes, higher amounts of income don't really move the needle in terms of QoL. If you bring home 81,492 after tax dollars, you live in a nice neighborhood, take vacations, eat out, drive a nice car, and have retirement accounts.

That is a separate thing from marriage.

Living together before marriage burns the wick.

 

[Doctodd]

Marriage prolongs life and adds meaning to one's existence. Don't marry an idiot and I suggest a prolonged courtship (5 yrs for me). Don't live together before marriage. After tax money of about 7-8k per month is around right about the point where it no longer adds to QoL.

i did all those things except live with her before marriage. After marriage and living together, the screaming started(by her).

 

[SommeRiver]

i did all those things except live with her before marriage. After marriage and living together, the screaming started(by her).

Ha! Me and my wife argue all the time, and so do 100% of other couples.

That prolonged courtship let's you get to know each other, you get to watch each other go through adversity and deal with it, can they keep it together...You've argued a few times. Had a fight or two...

The act of moving in after a wedding is a huge psychological thing, or it was for me and my wife. I got an amazing D, so that helps.

I have watched my brother divorce twice. Thankfully he doesn't have kids.

 

[Doctodd]

Ha! Me and my wife argue all the time, and so do 100% of other couples.

That prolonged courtship let's you get to know each other, you get to watch each other go through adversity and deal with it, can they keep it together...You've argued a few times. Had a fight or two...

The act of moving in after a wedding is a huge psychological thing, or it was for me and my wife. I got an amazing D, so that helps.

I have watched my brother divorce twice. Thankfully he doesn't have kids.

not sure what that means, but good for you if you do. lol.....na.... my ex was/is a predator. And a 10/10 on the hotness/crazy scale. Im affectionately known as daddy #2 of 3. She just bought a home thanks to another sucker doctor.

 

[SommeRiver]

I hate to hear that. Me and my wife started dating when I was in the military, before college, and far before med school. That probably matters.

 

[Laryngospasm]

not sure what that means, but good for you if you do. lol.....na.... my ex was/is a predator. And a 10/10 on the hotness/crazy scale. Im affectionately known as daddy #2 of 3. She just bought a home thanks to another sucker doctor.

I feel your pain.

 

[hyperalgesia]

I feel like marriage is for young idealists. You find your "soulmate", believe in magic, and then you change together.

It all looks good to me except where it interfaces with the binding legal document.

 

[SSdoc33]

I feel like marriage is for young idealists. You find your "soulmate", believe in magic, and then you change together.

It all looks good to me except where it interfaces with the binding legal document.

the orange represents your world view.

the blue is the rest of the world

 

[hyperalgesia]

View attachment 315472

the orange represents your world view.

the blue is the rest of the world

Those of us in the orange slice, take that as a compliment 🙂

 

[SommeRiver]

Marriage isn't for everyone...

 

[hyperalgesia]

Marriage isn't for everyone...

It might just be my choice in ladies...

 

[SommeRiver]

Completely absurd

 

[Ducttape]

yeah. watch something much more realistic.

like this:

 

[clubdeac]

So do you marry a solid, faithful woman you enjoy being around but aren't super attracted to hold out and see if you can have it all? I'm starting to wonder if you really can?

 

[jsaul]

Depends on what YOU look like and could depend on how.much money you got if you want to hold.out for.the 10/10 woman that doctodd always claims to have in his fantasy

 

[hyperalgesia]

 

[thecentral09]

I feel like chronic pain patients have a lot in common with the crazy part of this index

 

[10KHertz]

If you cannot find happiness at $200,000 per year.....you will never find it. Accumulating wealth can be great for your children but if they’re not raised properly they will blow it.

That would have to be 200k post taxation: Fed, state, local, special wealth tax(philly/Chicago/nyc), real estate, auto, Medicare, retail, etc.

then maybe some happiness...

 

[lobelsteve]

I was being generous.

Psychologists say they’ve found the exact amount of money you need to be happy

This study analyzed data from over 1.7 million people in 164 countries.

www.marketwatch.com

 

[SommeRiver]

I was being generous.

Psychologists say they’ve found the exact amount of money you need to be happy

This study analyzed data from over 1.7 million people in 164 countries.

www.marketwatch.com

That's basically where I got my 7-8k per month post taxes number.

 

[SSdoc33]

That's basically where I got my 7-8k per month post taxes number.

first of all, Jackie Mason looks awful.

second of all, i dont think the article mentioned 7k/month/wife. that was your own extrapolation

 

[SommeRiver]

first of all, Jackie Mason looks awful.

second of all, i dont think the article mentioned 7k/month/wife. that was your own extrapolation

What are you talking about?

If you make 8k after taxes per month you're living on 96k per year...After taxes, and obviously within the realm of what that study supported.

The wife thing I have no clue what you're talking about and I think you're generally a douchebag, especially over the last several months...

 

[SSdoc33]

What are you talking about?

If you make 8k after taxes per month you're living on 96k per year...After taxes, and obviously within the realm of what that study supported.

The wife thing I have no clue what you're talking about and I think you're generally a douchebag, especially over the last several months...

SommeRiver
2+ Year Member
JoinedApr 20, 2018Messages1,367Reaction score925
Aug 9, 2020

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• #19

Marriage prolongs life and adds meaning to one's existence. Don't marry an idiot and I suggest a prolonged courtship (5 yrs for me). Don't live together before marriage. After tax money of about 7-8k per month is around right about the point where it no longer adds to QoL.



When talking about marriage, you referred to "it" no longer adds to QoL. I had assumed "it" meant marriage isn't worth it after $7-8k/month. which is why i said that it was a "funny" post later in that thread. i now realize you were just talking about income in general.

i wasnt actually being a douchebag in that case.

if i wanted to be a douchebag, i would point out that georgia has the highest covid-19 positivity rate in the country right now.

 

[SommeRiver]

Scary virus that COVID-19.

We should shut down the state and live in fear...

 

[gaseous_clay]

SommeRiver
2+ Year Member
JoinedApr 20, 2018Messages1,367Reaction score925
Aug 9, 2020

• Add bookmark
• #19

Marriage prolongs life and adds meaning to one's existence. Don't marry an idiot and I suggest a prolonged courtship (5 yrs for me). Don't live together before marriage. After tax money of about 7-8k per month is around right about the point where it no longer adds to QoL.



When talking about marriage, you referred to "it" no longer adds to QoL. I had assumed "it" meant marriage isn't worth it after $7-8k/month. which is why i said that it was a "funny" post later in that thread. i now realize you were just talking about income in general.

i wasnt actually being a douchebag in that case.

if i wanted to be a douchebag, i would point out that georgia has the highest covid-19 positivity rate in the country right now.

 

[drusso]

SommeRiver
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JoinedApr 20, 2018Messages1,367Reaction score925
Aug 9, 2020

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• #19

if i wanted to be a douchebag, i would point out that georgia has the highest covid-19 positivity rate in the country right now.

You kinda have been more douchey than usual lately...just say'in...

 

[hyperalgesia]

That's basically where I got my 7-8k per month post taxes number.

The article says the "ideal income for [single] individuals is [an average of, in 164 countries] $95,000 a year for life satisfaction".

In most countries, that is a F-ton of money and obviously in different parts of the US, it also has variable meaning.

If you averaged it all out by cost of living in 164 countries, that might be something like $300k/year for life in Macon, GA as a single person.

So yeah, that's all I would need...

 

[SommeRiver]

"People say money doesn't buy happiness. Except, according to a new study from Princeton University's Woodrow Wilson School, it sort of does — up to about $75,000 a year. The lower a person's annual income falls below that benchmark, the unhappier he or she feels. But no matter how much more than $75,000 people make, they don't report any greater degree of happiness."



"It simply suggests, according to the researchers, that a group of people making $200,000 a year is likely no happier than a group of people making $95,000. The well-documented “hedonic treadmill” phenomenon also suggests that people adjust relatively quickly to their newly flush bank accounts, with happiness leveling back off over time."


"All told, the ideal income for life evaluation ranged from $35,000 in Latin America to $125,000 in Australia and New Zealand. In North America, the optimal amount for life evaluation was estimated at $105,000, and the range for emotional well-being was slated at $65,000 to $95,000."

 

[emd123]

I ran into a real Baller the other day who has lived a life of stealth wealth. This guy, a fellow pain doctor, basically looked like a homeless hippy but has two ASC's, beaucoup real estate, imaging centers, etc. Drives a Subaru. Lives in a 2 bedroom apartment. Has had a girlfriend for 15 years, never married. Never owned a home or a new car. It made me wonder how common this is...

Stealth wealth: Why this millionaire hides his riches

Stealth wealth allows people to mask their riches. So we talked to a millionaire who practices it to ask him one question: Why?

www.iwillteachyoutoberich.com

.

"We embrace stealth wealth by driving average cars, living in a respectable and safe middle-class neighborhood, and doing normal things that normal people do,” Dr. Erikson says. “My wife is in a book club, I’m in a curling league, and our kids attend a great public school. We have neighborhood campfires, watch football, and drink quality craft and homebrewed beer.”

My general impression is that there is some stealth wealth out there, but it's not common. Much more common is stealth poverty, where you have people living like they're rich flashing wealth but are up to their eyeballs in debt and mortgages with little or no net worth.

 

[SSdoc33]

You kinda have been more douchey than usual lately...just say'in...

if biden wins, i will return to my normal douchiness level. if orange man cheats his way to victory, prepare for previously unknown level of douche