Stealth Wealth: How To Do It, Benefits, & Why You Should Do It

Stealth wealth is the practice of keeping your true wealth hidden from others — even friends and family members.

And though the name might bring to mind mystery, espionage, and images of the Monopoly man dressed as a ninja, the practice is anything but that.

Stealth wealth is:

  • The rich techie who wears hoodies instead of suits and forgoes a Ford Mustang for a Ford Fiesta.

  • The millionaire CEO who’d rather drink a cheap beer with her friends while watching a football game than Dom Perignon at a polo match.

  • The college student who commiserates with his buddy’s complaints about student loans — while secretly owning a trust fund himself.

  • The individual who practices keeping their assets private to safeguard against identity theft, avoid awkward social situations, and maintain financial privacy within personal relationships.

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New to IWT?
  • Watch Ramit Sethi host Netflix’s “How to Get Rich” 
  • Get the NYT-Bestselling book (over 1 million sold) 
  • Check out the podcast (200K plays per episode)

And join over 800,000 readers getting our Insiders newsletter, where we share exclusive content that's not on the blog:

Table of Contents

So if you want to know exactly why someone practices stealth wealth, you’re going to have to ask directly.

That’s hard, though, because by definition those who practice stealth wealth aren’t in the business of telling anyone about it.

We’re in the business of finding Top Performers and finding out what makes them tick. That’s why we found a Top Performer who practices stealth wealth and got their insights on exactly why they do it (on the condition of anonymity, of course).

Why This Millionaire Doctor Practices Stealth Wealth

I’d like to introduce you to Dr. Erikson (not his real name).

Dr. Erikson is a millionaire — and he made his money through a combination of smart investing as well as a lucrative career as a medical professional.

He’s wealthy…but instead of driving a flashy sports car, he drives a minivan.

A look into his financial situation by the numbers gives us an even more detailed look into how stealthy his wealth is:

Stealth Wealth by-the-numbers

Age: 41

# of kids: 2 boys. Ages 7 and 9

# of cars: 2. 2006 Chevy HHR, 2008 Chrysler Town & Country

# of homes: 2. 4-bedroom house, 2-bedroom lakefront cabin

Net worth: $3 million since early 2017

On the outside, it seems like he lives a typical Midwestern lifestyle: Wife and two kids (both of whom attend public school), four-bedroom house as well as two cars that are both about a decade old…despite the fact that his net worth has recently topped $3 million.

“We embrace stealth wealth by driving average cars, living in a respectable and safe middle-class neighborhood, and doing normal things that normal people do,” Dr. Erikson says. “My wife is in a book club, I’m in a curling league, and our kids attend a great public school. We have neighborhood campfires, watch football, and drink quality craft and homebrewed beer.”

Why does he do this — especially when considering he has enough money to live a high-end lifestyle without having to worry about paying bills or providing for his family?

The Social Benefits of Stealth Wealth

As the bard once said:

Be honest with yourself. How often have you thought something to the effect of:

  • He/She is rich so they must be snobby.

  • You have to be cutthroat in order to be wealthy.

  • That person has a trust fund so they must be spoiled.

…without even realizing it? That’s because there are invisible scripts — the assumptions that are so deeply embedded in our society that we don’t even realize they guide our attitudes and behaviors — surrounding wealth.

“There’s an expectation that most people spend up to their income level,” Dr. Erikson says. “When I pull up in my ‘06 Chevy, people who know that I’m a doctor probably think something’s not quite right. Personally, I don’t care much what I drive, but apparently, I’m supposed to.”

This contrasts sharply with the average person, who may not have the same level of control over their spending or the same understanding of their values, often succumbing to societal pressures and impulse buys. People practicing stealth wealth, like Dr. Erikson, navigate these societal expectations differently, prioritizing personal values over societal assumptions about wealth and spending.

And even if you got wealthy unexpectedly (like lottery winners or people who inherited money), you’re still faced with the same societal pressures.

“Can you imagine what it’s like for a lottery winner?” Dr. Erikson asks. “You’d feel bad not picking up the tab and helping and supporting family and friends, but when and where does it stop? How do you know who your real friends are? The money would be nice, but you’d be in a very trying place socially.”

People in a place of wealth have the opportunity to leverage these scripts, though. By being aware of them they can mask their finances accordingly through stealth wealth as Dr. Erikson does.

“The more powerful social benefit of stealth wealth for me is approachability,” he says. “I live in a rural area. If I drove a Maserati and lived in a 6,000-square-foot estate, people might see me differently, and not favorably. I think most of the people I hang around respect the fact that I don’t flaunt my wealth — if they even realize I have any.

For Dr. Erikson, he doesn’t really care if you do want to flash your wealth — though he doesn’t think that necessarily means you’re any better off for it.

“I do my best not to be judgemental,” he says. “Still, it’s hard not to wonder if someone with a similar career who spends four times what I do is four times happier.”

The world wants you to be vanilla...

…but you don’t have to take the same path as everyone else. How would it look if you designed a Rich Life on your own terms? Take our quiz and find out:

Why Practice Stealth Wealth?

It’s not like our doctor lives a miserly life, tucking his money away under his mattress and picking up every penny he finds.

He says:

A few things:

  1. He has the flexibility to spend time with his family.

  2. They frequently travel and enrich their lives with new experiences.

  3. He’s doing exactly what he wants because he’s not tied down to anything.

What does this tell you?


Because he’s a Top Performer and he worked hard to get his finances in order, he’s now living the life he wants to.

He doesn’t have fancy cars, huge homes, and caviar with every meal because that’s not what a Rich Life means to him.

Understanding the importance of saving and investing more money rather than flaunting wealth, and recognizing the pitfalls of spending money to maintain a certain image, are key aspects of a stealth wealth lifestyle. This approach not only avoids the trap of lifestyle creep that comes with mindless spending when earning more money but also emphasizes the value of accumulating more money in the bank and using it more intentionally. It’s a conscious choice to find joy in what one already has, resisting the temptation to spend unnecessarily to fit in with others.

If that’s what it means to you, great! We have systems to get you there. But for this millionaire, all he needs is his time to spend with his family and financial stability.


How Do I Get Started with Stealth Wealth?

If you want to flaunt your wealth, flaunt the hell out of it. But if you want to start living a little bit more modestly for any reason (like you’re pursuing financial independence or want to avoid societal pressures), Dr. Erikson has a few good suggestions for you:

“It’s best not to live a flashy lifestyle in the first place. If you haven’t started displaying the trappings of your wealth, great! Keep doing what you’re doing, and upgrade slowly and prudently.

If you’re living the high life and want to hop off that rollercoaster, you may need a fresh start. When you change jobs, especially when you move to a new location, it’s pretty easy to reinvent yourself.

Decide why you want to live a more stealth wealth lifestyle — define some financial goals — and start living like your neighborhood accountant, school teacher, middle manager, or stealthy physician. Drive a Chevy or a Honda. Buy or rent in a place that’s nice but not ostentatious. Belly up for a burger and a beer.

The stealth part is easy. The wealth part takes more work.”

And the best part of stealth wealth? You’re not committing yourself to a damn thing.

If you see a nice pair of shoes you really want, you can buy them. Maybe those first-class airline tickets to Paris are calling your name. What if you want to buy an honest-to-god helicopter and have enough money? Go for it!

“It’s always OK to take the stealth from your wealth,” Dr. Erikson says. “You don’t need my permission or anyone else’s — it’s your life.”

He continues, “You may find that major upgrades that showcase your wealth can introduce you to different social circles. The result could be quite positive, particularly if exposure to an upper-crust clientele would be good for your career or business in some way.”

What Do You Think About Stealth Wealth?

When stealth wealth is practiced correctly, it can lead to many amazing things in your life. You’ll be able to enjoy your time with friends and family and focus on what really matters: living in the moment.

Dr. Erikson’s case isn’t entirely unique. In fact, you might know a few people practicing stealth wealth in your own lives and just don’t even know it.

Or perhaps, you do stealth wealth yourself. In either case, leave a comment below.

What do you think of stealth wealth? Is it a little bit too deceptive for your liking? Would you feel betrayed if you found out someone in your life was secretly rich?

If you do practice it, why? Do you ever find yourself wanting to go back to a flashier, wealth-forward lifestyle?

I’d love to hear your answers.


What is stealth wealth?

Stealth wealth is choosing to keep your wealth under wraps, blending in without the flashy indicators of affluence. It’s about living comfortably but not ostentatiously, prioritizing privacy and financial peace over public displays of wealth.


What is the difference between stealth wealth and quiet luxury?

Stealth wealth focuses on hiding your wealth, emphasizing normalcy and approachability. Quiet luxury, on the other hand, involves indulging in high-quality, often expensive experiences or items discreetly, appreciating their intrinsic value rather than their social status symbol.


What is a silent millionaire?

A silent millionaire is someone who has amassed significant wealth but chooses not to showcase it. They live modestly, invest wisely, and enjoy their riches privately, valuing substance and security over showing off. Sounds pretty cool, huh?


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Host of Netflix's "How to Get Rich", NYT Bestselling Author & host of the hit I Will Teach You To Be Rich Podcast. For over 20 years, Ramit has been sharing proven strategies to help people like you take control of their money and live a Rich Life.