• Also almost no one thinks they're rich.

    I remember listening to someone discussing a paper they'd done interviewing wealthy New Yorkers. Lots of these people, or their spouses were on >$1m pa. But they often shopped in sales, needed that income to maintain their lifestyle, didn't feel that they could spend limitlessly, lived in a city with a high cost of living, etc. and so didn't regard themselves as rich.

    In more anecdata, I used to sit opposite a sales person who dealt with HNWIs and as a scare sales tactic he'd break down their income and expenditure and what they needed to retire. So many were literally just covering their costs. This isn't about playing a small violin, but just pointing out how most people's brains work.

  • Also almost no one thinks they're rich.

    This in spades. Most 1%ers I know feel that they "struggle" to get by.

  • Most 1%ers I know feel that they "struggle" to get by

    Keep tripping over all those Rolex and champagne bottles they leave lying around

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