Even actual wealthy people exaggerate their wealth. That’s why Trump covers everything in gaudy gold paint. He has to appear to be richer than Croesus.
Yet affluent millennials — with $250,000 to more than $1 million in investable assets — are going to great lengths to appear wealthy.
Wells Fargo found 29% of affluent millennials admit they sometimes buy items they cannot afford to impress others.
There’s not many of them, and this isn’t the majority of them…
But yeah, this has always happened.
Young wealthy people want to seem like they’re insanely wealthy.
One reason why Instagram is gross
As for an addition to the topic I leave this link to a study which gives some insight to consuming behavior:
Signaling Status with Luxury Goods: The Role of Brand Prominence
Greedy people think it’s a virtue worth flaunting?? I’m shocked I tell you. What a profound breakthrough in to the human psyche…
Oh, our owners rebranded greed decades ago. It’s no longer considered the character deficit and personal failing that it is.
We call it “rational self-interest” now. Doesn’t that sound nice?
Certainly not Orwellian at all…
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