Buying nice clothes is smart-- says study

[lovethetrade]

It's smart for some because for some it's progressive and symbolic of success.

There's plenty of non-materialistic people that got wealthy through business achievements or inheritance that were never motivated primarily by money.

 

[marketsurfer]

Fundamentally incorrect, it's the difference between "new money" to be rich yet live rich and "old money" to be rich yet look poor having the biggest stick when some moron comes along to make trouble. The psychological problem is not understanding the difference.

You might want to read this given you're missing the core aspects of life http://www.zerohedge.com/news/2017-05-06/doug-casey-end-western-civilization

"Unfortunately, they ignore that, and completely ignore that the way a person or a society becomes wealthy is by producing more than they consume and saving the difference. That difference, savings, is how you create capital. Without capital you’re reduced to subsistence, scratching at the earth with a stick."

"Worse, it forces people to desperately put their money in all manner of idiotic speculations in an effort to stay ahead of inflation. They wind up chasing the bubbles the funny money creates."

Almost 12,000 posts and still can't get that right, public forums are funny.

Good article but


You are missing the point. No one said anything about spending more than they consume to appear wealthy. My point is wealthy people who don't spend and continue to hoard money for the sake of money are sad examples of humanity.

Spending by the wealthy is what drives the entire economic ecosystem in many places.

Im not talking about thr guy in the $25 million house who wears flip flops and a bathing suit 6 out of 7 days-- there are many old wealthy hippie types--

 

[marketsurfer]

It's not all nice, some need to get out of the house, some need comradarie, some need OPM to trade. I'm not a people person. I like to be alone. Trading allows me to dress less fashionably, so that's a plus. I get very bored keeping up with fashion. But I do like very high quality everything including clothes and it is getting so frustrating that the brands I have bought for decades for the quality are now made in Asia with inferior materials or workmanship. They don't have tailors that make the kind of clothes I like and I have checked out some of those $700 bluejeans and that's not the solution. Many would gladly pay double or triple just to buy the old brands the way they were.

There are very few true luxury brands left. Most have sold out to the masses.

 

[AbbotAle]

BIG shakeup happened in my life when my first marriage broke up. Cried for 9 months.
Big reality check within on my loser self.
Was a church goer back in thise days, gave that the boot and havent looked back since.
(The married pastor of the church and my wife fancied each other at the time - they are now married)

Congrats. It takes a real man to look himself in the mirror, see the faults and then FIX THEM.

It can take time, as it did with your 9 months but there is light at the end of the tunnel and a lot of help is out there. Read The Rational Man by Rollo is you haven't already.

 

[lawrence-lugar]

There's plenty of non-materialistic people that got wealthy through business achievements or inheritance that were never motivated primarily by money

People who come from nothing usually feel the need to showoff wealth once they obtain it -- I'm thinking primarily black, young rappers. and sports stars.
And Jordan Belfort (Wolf of Wall Street movie) too.

Their need to showoff and live extravagant is usually their downfall as well. That mentality and behavior progresses to other aspects of their life.
I believe there's a lesson in the bible about this topic; gluttony.

On the opposite end of that spectrum....I'm thinking about someone like Warren Buffett...that guy doesn't appear to be materialistic, at all
He does and behaves like how any normal, blue collar working stiff would be like in spite of his tens of billions of dollars.

People should all live like frugal Jews. Practice their religion and laws and ways. -- Heck, even convert...and your life will improve,

 

[java]

People who come from nothing usually feel the need to showoff wealth once they obtain it -- I'm thinking primarily black, young rappers. and sports stars.
And Jordan Belfort (Wolf of Wall Street movie) too.

Their need to showoff and live extravagant is usually their downfall as well. That mentality and behavior progresses to other aspects of their life.
I believe there's a lesson in the bible about this topic; gluttony.

On the opposite end of that spectrum....I'm thinking about someone like Warren Buffett...that guy doesn't appear to be materialistic, at all
He does and behaves like how any normal, blue collar working stiff would be like in spite of his tens of billions of dollars.

Yes, where they came from a gold chain is a sign of success, but it gets kind of stupid when everybody knows you just signed a 20 million contract and you are supposed to be running fast around the bases and you have a big gold chain around your neck.
In my grandparents culture you bought a new suit for the high holidays whether you could afford it or not and to dress anything less than appearing successful was considered bringing down the whole culture.
If you are just getting started successful looking clothes may make you feel like you belong to the successful culture. But if you've been there done that there is no need to impress or make any statement with your wardrobe. But the funny thing, the fact that you dress for functionality rather than social norms makes a statement.
If I was trying to look rich now I might wear a t shirt and jeans to imply I am so successful I don't even need to wear expensive designer clothing.
Proper clothing is a sign of respect when you are associating with others. A suit and a tie implies you are open for business. I worked for a company that demanded a conservative suit with a white shirt and tie and short hair and no beard or mustache. When I would stop in the health food store after work they treated me like I was one of "them" and were very suspicious of a man dressed like me in their store. If I was a health food representative back in those days I certainly would not wear a suit and tie on a sales call.

 

[sle]

On the opposite end of that spectrum....I'm thinking about someone like Warren Buffett...that guy doesn't appear to be materialistic, at all
He does and behaves like how any normal, blue collar working stiff would be like in spite of his tens of billions of dollars.

I think you are mistaken about the blue collar spending habits of Warren Buffet. For example, here are the suits he wears:
https://en.m.wikipedia.org/wiki/Trands

 

[marketsurfer]

Yes, where they came from a gold chain is a sign of success, but it gets kind of stupid when everybody knows you just signed a 20 million contract and you are supposed to be running fast around the bases and you have a big gold chain around your neck.
In my grandparents culture you bought a new suit for the high holidays whether you could afford it or not and to dress anything less than appearing successful was considered bringing down the whole culture.
If you are just getting started successful looking clothes may make you feel like you belong to the successful culture. But if you've been there done that there is no need to impress or make any statement with your wardrobe. But the funny thing, the fact that you dress for functionality rather than social norms makes a statement.
If I was trying to look rich now I might wear a t shirt and jeans to imply I am so successful I don't even need to wear expensive designer clothing.
Proper clothing is a sign of respect when you are associating with others. A suit and a tie implies you are open for business. I worked for a company that demanded a conservative suit with a white shirt and tie and short hair and no beard or mustache. When I would stop in the health food store after work they treated me like I was one of "them" and were very suspicious of a man dressed like me in their store. If I was a health food representative back in those days I certainly would not wear a suit and tie on a sales call.

There's definitely something to be said for dressing down or comfortably. Many true high end styles/brands don't look like much. My wife calls it the "wealthy homeless look". There's alot of this on Palm Beach , among the equesterian set, on Nantucket, and mainline of philadelphia. While miami and LA tend to be a little flashier.

The bigger the logo and flashier more colorful the clothes are often worn by and attractive to less wealthy people. While the truly wealty's clothes have very small logos and are not flashy at all but are extremely expensive.

Of course there are exceptions to every rule. If u are in the fashion biz for example

To say it bluntly, if you are not in or know the tribe, you will not recognize the look or items.

From clothes to watches -- they are all signaling devices to ones tribe or a statement of individuality.

 

[sle]

From clothes to watches -- they are all signaling devices to ones tribe or a statement of individuality.

Is it? In my mind, the point of wearing something nice is wearing something nice. Something nice is not necessarily equal to something expensive or something luxury. Something nice hopefully looks good, is quality made yet does not break the bank. There is no rule that nice can not be bought on sale at a 75% discount

PS. Brand recognition is a tricky business. I, for one, don't have a clue and would not be able to distinguish brand A from brand B (barely recognize different brands of cars).

 

[java]

Watch the migration, from Italy to Mexico Via Paris NYC finally Walmart. Down In Nogales on a Saturday you will see teenage girls walking across the bridge all wearing for day shopping what once was the latest new night club trend from the famous designer houses in Europe.