Earlier this week we aired a report on the “Stealthy Wealthy” – people who have a lot of money, but don’t necessarily want you to know about it. Reporter Sean Cole’s piece raised some good points: like the fact that a lot of these folks didn’t know they were inheriting large sums of money.
In my adventures with the stealthy wealthy, I noticed a few commonalities among the folks I interviewed. For instance, none of them seemed to know the money was coming to them until it did, and all of them were thrown by it, to one degree or another. Probably the most unsettled among them was Burke Stansbury. He’s a political activist living in Seattle with his wife and son. He remembers the day his dad handed him a four-page printout of his investments, and trust fund, etc.
“I laughed,” Burke told me, “More than anything it struck me as totally ridiculous that I would have that kind of money. The absurdity of why I, of all people, should have a million dollars coming to me, it struck me. Like I had never done anything to deserve that money.”
The story got us thinking: Do the non-rich feel comfortable telling people how much money they have?
On Twitter, the majority of respondents said they prefer not to share their net-worth out of embarrasment. Some said they work hard to earn what they do, and they’re happy to share the amount. Others said that sharing income is awkward, whether you’re rich or poor.
Here are some of the most interesting responses we received:
@MPWealthPoverty yes, because everyone else in my field makes twice as much!
— Brian Virgil (@SafariBear1107) January 24, 2014
@MPWealthPoverty @MarketplaceAPM Yes. I would be embarrassed for my much more educated friends to know how little we have.
— Apron Boobsface (@1eyedstolenmare) January 24, 2014
@MPWealthPoverty Yes – some people make less than me, some make more. I feel bad when its the former, and awkward when its the latter.
— Laura Lundahl (@LauraLundahl) January 24, 2014
@MPWealthPoverty @MarketplaceAPM No because I don’t tell others! It’s no ones business but mine what I have. People share way too much info
— Jennifer Rand (@therowdyrands) January 24, 2014
@MPWealthPoverty we don’t talk salary because prevailing emotions are either guilt, envy, or pride – all negative
— Benjamin Benavidez (@benbenjr80) January 24, 2014
@MPWealthPoverty @MarketplaceAPM Yes, because certain people might then ask to borrow said money.
— Justine Fred (@PaisleyFred) January 24, 2014
@benbenjr80 @MPWealthPoverty And because workers knowing how their salaries compare gives them more power in negotiating w management
— Robin Amer (@rsamer) January 24, 2014
@MPWealthPoverty Generally people don’t ask, most make assumptions. If it really matters to someone to the point the need to ask (1/2)
— Ingrid R Shepard (@IngridRShepard) January 24, 2014
@MPWealthPoverty most times they get uncomfortable when they get the answer. (2/2)
— Ingrid R Shepard (@IngridRShepard) January 24, 2014
@MPWealthPoverty Sometimes. If I know its similar $ to the person asking or I know them very well I done mind. Otherwise it can get awkward.
— Erik Newcome (@ErikNewcome) January 24, 2014
@MPWealthPoverty I don’t like the conversation that comes after. I am not where I wanted to be at my age and people always ask or assume why
— Randi Borys (@RandiB1) January 24, 2014
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
