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What are some subtle red or yellow flags when it comes to a man's personal finances? I’m looking less for obvious signs (e.g., he's broke, he's cheap) and more for signs that a layperson wouldn't necessarily notice.
I am not a finance/accounting expert and would love to hear your thoughts, especially if you are a finance/accounting expert.
I’m a finance person, and I represent business owner clients, who are mostly men. I’m in the Midwest, so I can only speak about people here. So, I don’t know any Wall Street finance bros.
The men I know who have money, are very low key. They live quiet lives, don’t drive fancy cars, and never brag about money. They work hard, take reasonable vacations and support their families. They usually do their own home maintenance. They have zero or very little debt, and are worth $$ millions. They have simple tastes (not jetting off to Vegas or Cabo every year). Their businesses aren’t flashy or sexy (think steel beams, gear shops, manufacturers). I guess “quiet” is how I’d describe them, understated. They are the daily, reliable, show up and get it done, men.
I do have one client with a ton of money, but he’s also a little bit psycho. He’s loud, talks about his money, gets married every few years (seriously!) and is generally unreliable and intense. He owns several houses and is a classic dude bro who runs a dude bro company. His company has been sued for sexual harassment, and he himself is a felon who did time for fraud. He spends every penny he makes and will likely be bankrupt in a few years…that’s just his personality. Then he’ll make all the money back again (he’s very smart), but the roller coaster is insane.
Poor men usually have addictions (even if it’s just caffeine or smoking), are unreliable, sick a lot (I don’t know why?), have flammable tempers, and are slaves to personal pleasure. This combo means they bleed money and can’t keep good jobs.
Consistent hard work over time is what creates wealth. Steadiness. It’s almost boring, like watching paint dry.
Caveat: Some men inherit their wealth, or score lucrative jobs because of family. They can be extremely unstable, adulterers, addicts and full of drama. Be careful with these.
TLDR: wealthy men (and future wealthy men) are understated and have control over their lives. They are drama free, with no addictions or bad habits, and they work steadily. They do not brag, but you’ll feel their stability and good sense.