Rich People Share 13 Life Tips That Are Totally Out of Touch

Life Tips That Are Totally Out of Touch
Wealth Gang / Joyce Diva/istockphoto / Mariia Skvortsova/istockphoto

Most of us are eager to hear useful tips that can make our life easier or our checking accounts bigger. But when those tips come from the ultra wealthy, the pieces of advice can be wildly out of touch. Whether it’s “just buy a duplex” or “have rich parents,” some life advice from the rich and famous simply doesn’t resonate with everyday people. We poked through a Reddit thread about rich people tips to find questionable advice that’ll have you scratching your head and rolling your eyes.

1. Buy a Lexus

White Lexus CT200h 2011
Lexus CT200h 2011 by Kirakiraouji (CC BY-SA)
Lexus CT200h 2011 by Kirakiraouji (CC BY-SA)

“Lexus is the consumer reports most reliable vehicle year after year.” u/Creeperslover

Oh, well in that case, brb while I go out and buy a Lexus.

2. Have Rich Parents

Happy family on bench
Jacob Wackerhausen/istockphoto
Jacob Wackerhausen/istockphoto

“Be born to rich parents.” u/Check_This_1

“You beat me to it. This is the way most rich people become rich.” u/Automatic-Arm-532

Hold on, let me rewrite history and choose different parents.

3. Invest While You Are Young

Latin woman checking some graphics from digital investment
FG Trade / iStockPhoto

“Don’t put it off. Keep investing in up and down markets. Increase your investments annually. Never touch it until you are ready to retire.” u/Same_Cut1196

Ok, but here’s the thing about investing: You have to have money to invest. And when we’re young, extra investing money is something that’s a bit harder to come by.

4. Start Your Own Business

Finance, tax and couple talking about insurance, savings and information on a laptop with paper. Man and woman on the sofa of their house for ecommerce, banking and investing with technology
Delmaine Donson/istockphoto
Delmaine Donson/istockphoto

“This is really important. The tax benefits of being a business owner vs W2 worker bee are incredible.” u/redyouch

Excuse me while I dip into all my surplus funds to start my own business. No biggie!

5. Buy Items That Last

Woman Walking With Shopping Bags on City Street
FreshSplash/istockphoto
FreshSplash/istockphoto

“Buy really good items that last. Somehow my parents never enforced that with me, but I started buying good things in 2006 and it made a difference.” u/Think_Leadership_91

Ah, must be nice to actually have the money to buy said really good items.

6. Stop Giving Handouts

Man giving money to woman indoors, above view. Currency exchange
Liudmila Chernetska/istockphoto
Liudmila Chernetska/istockphoto

“I was being ‘too nice’ and got taken advantage of (several times) by ungrateful people. My intent was to help but I ended up feeling like an idiot when these people that I ‘helped’ came back and started complaining because would not continue to help them.” u/InternationalPay8288

7. Hire a Professional Trainer for Everything

Woman instructing man
Jacob Wackerhausen/istockphoto
Jacob Wackerhausen/istockphoto

“If you want to exceed in something, hire a professional trainer to help you get there. Normal people send their kids to school and if the kids need help the parents would give them a slither of their time to help them. It’s only when they’re at risk of failing that they may get them tutoring.

Rich people give their kids tutoring from the get go so these kids are already ahead of the class and school is just so easy they look towards wanting to accomplish more.” u/Ok_Fisherman8727

8. Buy a Duplex, Triplex, or Quad

Beautiful Canadian style furnished and nicely staged apartment in brand new apartment building
Anatoli Igolkin/istockphoto
Anatoli Igolkin/istockphoto

“Don’t buy a house. Buy a duplex, triplex, or quad. The income will pay for itself.” u/BoxTopPriza

Ok, but … duplexes cost money, too.

9. Debit Is Good

Two people stressed over debt
PeopleImages/istockphoto
PeopleImages/istockphoto

“Debt is good if you’re using it the right way to make a lot more money and reinvesting it to grow a failing company/business that was acquired. Also the tax benefits you get from holding debt.” u/Totes_Goatz

10. Do Not Be Satisfied With Comfort

Woman on vacation looking out over the blue sea
Maridav/istockphoto
Maridav/istockphoto

“At some point you’re going to get to the point where you’re like hey im comfortable, i can finally afford the life i want, and if you stop there you’re never going to be truly successful.” u/Healthy_Razzmatazz38

Or, as another Redditor put it, “So, be greedy?”

11. Have Skilled People on Your Team

Happy confident lawyer giving consultation to a couple
fizkes/istockphoto
fizkes/istockphoto

“You don’t need to know everything. You just need to have lots of skilled people, of various occupations ‘on your team’!! A good accountant. A good Jeweler. A good investment Banker. A good Chemist. A good engineer. A good pilot. A good Ships Captain. A good lawyer. ” u/USPostalGirl

Ah yes, my own private jeweler.

12. Spend Thousands on Education

Person in College or Graduate School
Joyce Diva/istockphoto
Joyce Diva/istockphoto

“Invest in education as much as possible. Literally don’t be afraid to spend tens of thousands (or hundreds of thousands) on education. Undergrad, masters degrees, and more masters degrees. Education is what makes people rich to begin with.” u/iamtonimorrison

While we agree that education is a worthwhile investment, spending “tens of thousands” on education isn’t exactly doable for many people.

13. Buy Three of Everything

Three leather backpacks for girls and women salmon, mint, yellow
Mariia Skvortsova/istockphoto
Mariia Skvortsova/istockphoto

“If you’re saving up for something, save until you can buy three of them so you know you can actually afford it.” u/gap3035

Buying three of something seems like a waste if you only need one, no?

Author
Erin Kuschner

Erin has spent the past decade as a writer and editor for both digital and print publications. Prior to joining Wealth Gang, she was a reporter and editor at Boston.com, Time Out Austin, and Time Out Los Angeles, and has written for the Los Angeles Times, the Boston Globe, Eater, and other publications.