#55 - Scorning New Money
Scorning New Money
Price: Rich Grandparents
To most, someone with stacks of Ben Franklins is wealthy and money is money but for rich people there is ‘old money’ and there is ‘new money’. Old money smells like rich mahogany, leather bound books and has always had money while new money went to public school, didn’t have a nanny and clawed their way out of a tortuous middle class upbringing. As far as real rich people are concerned, the nouveaux riche are classless underlings and second class citizens. In fact, old money would rather spend time with their chauffeurs and gardeners than invite a pastel-wearing, Lamborghini driving, loud-mouthed, hedge fund millionaire into their home when the only thing they have in common is their bank balance.
If you intend to befriend the wealthy you must become adept at recognizing the telltale signs of generational wealth vs. the self-made man. Old money is proper, cultured and knows things like when to wear seersucker. Both groups own luxury vehicles but new money opts for aftermarket ‘spinner’ rims and bright colors. Old money would rather wear white after Labor Day than be seen in a yellow Ferrari. Essentially, old money is conservative while new money flaunts their wealth with public displays of opulence.
It is imperative that you choose sides; with whom will you ingratiate yourself? Do you opt for smoking cigars surrounded by hooker-hot blondes on the city’s most popular patios or for lounging in a private library with snifters of Brandy discussing the Fed’s monetary policy? What about ringside seats at UFC in Vegas or is the loge for Bizet’s Carmen more your style? Just as all US citizens are either Republican or anti-American, rich people are new money or old but never both; neither is wrong but they don’t agree on anything. I take that back, both are repulsed by poor people and believe white pants are stylish for men.
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Look in all honesty, unless your a member of the European aristocracy and can trace your family back to the doomsday book its most likely your boorish nouveau riche. Don’t forget that even the oldest new world families are looked down upon. Indeed you cannot consider yourself old money until your family is so inbred that things like haemophilia become common, look at the royal family for example.
I thought all Americans were new money……
It’s not new money, but “nouveau-riche”.
Malsch you are completely right. My mother used to always point out how tacky some people were. Old money, we I think in some ways are closer to blue collar workers than new money. We value hard work, and have very traditional tastes. When we moved we took our furniture with us, and almost of all of it was inherited. Our friends and relatives fit the bill, with the apartments in the city.
Also Alicia, allot of my relative who are more financially well of than I (although now having spent a year at state I realized I’ve underestimated my own standing, everything is relative), I don’t think real old money has that many drug problems. Borderline alcoholism, yes, but not the sort of life threatening ones, at least not that much more than the average American. The worst thing about new money, is the are all about money. Very little interesting conversation.
so the grandchildren of todays new money can hang out with the grandchildren of the granchildren of todays old money. Assuming these grandchildren of the old money still have money left. new money is what generates this economy. its ironic. its called fresh blood!!! sure they dont know how to spend it, especially if its kind of undeserved. But the most grotesque seen is old money’s children squandering their parents money on drugs,fashion, etc… instead of reinvesting it for their future. i.e. casey johnson or any other half wit. In these situations, i see a case for zero inheritance or only allowing for loans. Who wants to see a perfectly normal person drive themselves to toxic oblivion.
I hate new money. They are so annoying.
I hate new money although for me there is a personal philosophical problem in it. As I have mentioned in my comments here before my family used to be wealthy, blue blooded wealthy, not so any more. So if I became wealthy would I be new money, I have the heritage but would be self made. Interesting question isn’t it. Would I be new money (I cringe as I write that, I also cringed at the mention of spinners) old and what you present as impossible and mixture of both (a lighter cringe comes across me writing that).
You can tell who is old money on first sight, we or they carry themselves differently from the middle and the nouveau riche. I consider new money to be middle class or lower, just with added funds. Infact old money is a way of life, a way of being, and if you have to try to be it (Martha Steward and her poorly done, stilted fake was of speaking) you are not.
LOVE!!! thank you for all of this – especially this -> Just as all US citizens are either Republican or anti-American.
New rich friends, here I come!
ya know, I’ve seen this in real life. This is no lie. Old money you can’t immediately discern. It takes time and getting to know someone. They can come off as a normal middle class person. Often very personable, and level-headed. Home usually gives them away, older neighborhood in city, stately, but is very tastefully decorated, usually classic or modern, but always tasteful and high end.
New money is always recognizable from the get-go. Attitude, huge expensive house in the suburbs, with sparse out-of-place furnishings and nothing on the walls (oh and all walls still painted contractor white). Porsche or BMW in the driveway, Mickey-D’s for dinner.