Excellent thread - especially for all of us who have read The Millionaire Next Door and employed various strategies over the years to shoot for LBYM. We still are tweaking things and looking for ways to improve. The idea of "stealth wealth" makes sense to both of us. When it comes to choice of house, and vehicles we drive - we have done well at keeping things low and under the radar.
Our greatest success to date has been sending our children to college, having them graduate debt free, and teaching them about LBYM. They now understand why we drive 11 year old cars (Hondas), always fly coach, bought one of the least expensive houses in our neighborhood, cook our own meals, sock away a portion of our income every month. Compared to a lot of others who graduated their children from college with a lot of debt to begin their careers - we feel the toil on our part, and investing the past 22 years for that was worth it.
We've moved into the next phase with the children, teaching them all about saving and investing, and taking the best advantage of their benefits package(s) at their places of employment. They have been surrounded by plenty of keeping up with the Joneses kids trappings
their entire lives, and we have fought tooth and nail to teach them well to avoid that. Pretty sure our kids were the only kids driving the old family minivan to high school every day for 4 years at their particular school. It saved money, and did the job. Now they understand why we did that, but at the time the backlash from them was a daily struggle.
It certainly kept us in LBYM mode, and now that the nest is empty - our lifestyle will remain the same as we shift the focus 100% to continue the path of socking money away for us.
Although this thread has pointed out stealth wealth and revolved around 7 figure wealth, we are surprised nobody has mentioned some of the more famous Billionaires and some of their frugality.
http://www.investopedia.com/financial-e ... aires.aspx
In particular, Warren Buffett wins the frugality award for a man who has accumulated serious wealth. He bought his home in 1958 for $31,5000 which he still lives in 59 years later. He only earns $100K salary and lives within his salary to this day - even though he has Billions. Good article here on his take on the trappings of keeping up with the Joneses, and his focus on his own ongoing expenses.
http://www.investopedia.com/articles/fi ... frugal.asp