Want to Live Like Super-Rich Americans? Here Are 3 Ways to Do It on a Middle Class Salary

For many, being wealthy feels like a pipe dream. After all, the median household income in the U.S. is just $74,580, according to Census Bureau estimates. And only 2% of Americans identify as “upper class,” according to a 2022 Gallup poll.

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But we don’t have to be super rich to enjoy a more comfortable lifestyle — without breaking the bank. Here are three ways to feel rich.

1. Get out of debt

Sure, this doesn’t sound like much fun — after all, the debt-free status of the super-rich doesn’t often make the front pages of tabloids. But many want to join the ranks of the super-rich because we crave their freedom. After all, it’s hard to feel free when a large portion of your income goes to paying off debt.

But paying off your debt will give you more financial freedom and bring you closer to building wealth that can lead you to a more prosperous life. To get out of debt, take stock of your current situation, consolidate your debts at a lower interest rate (if possible), and find a strategy for paying them off that works for you. For example, with the debt avalanche method of paying off debt, you pay off the highest-interest debt first to crush the interest charges. With the debt snowball method, you pay off the smallest balance first to gain momentum.

2. Buy second hand as often as possible

Many luxury items depreciate quickly, so you can find certain items at a significant discount if you buy them secondhand. Want a nice suit, designer dress, or designer bag? Try local thrift stores or luxury consignment stores. If you remember thrift stores as dusty, musty spaces filled with stained clothing, try them again: Many cities now have trendy, high-end secondhand boutiques.

Read more: Wealthy, young Americans are ignoring the stormy stock market — these are the alternative assets they’re relying on instead

If you’re dreaming of owning a luxury car, you can save a lot of money by buying an older model. According to research from car search engine iSeeCars, the average five-year depreciation of a Maserati Quattroporte was 64.5%, or just over $90,000. Even if you buy a luxury car that will hold its value, like a Porsche 911 (coupe), which depreciates just 9.3% over five years, you can still save about $18,000 off the MSRP.

If you value smaller luxury items, such as art, jewelry or furniture, there are plenty of apps that specialize in secondhand shopping.

3. Travel for less

Travel often comes to mind when you dream of an ultra-rich lifestyle. Yet, you can still travel comfortably without breaking the bank or staying in a dorm-style hostel. For example, the best travel rewards credit cards offer discounts on airfare, car rentals, and hotels. Some are tied to specific airlines or hotel chains, while offering benefits from partners who offer other services. Shop around to find the best travel rewards card for you.

Also, try to plan your trip during the off-season. Europe in the fall is still pleasant, but prices are generally lower and you don’t have to worry about the crowds of high season. Off-seasons vary around the world, so choose your destination and research the cheapest time to go. If you like cruises, look for shorter trips or last-minute deals to save money.

To feel like you own a home abroad, consider house sitting (there are online communities and services to arrange this). For the private yacht experience, consider cruising on a small ship. At your destination, you can take free (tips only) walking tours and save on museum and art gallery fees by booking free nights.

It takes some effort, but with a little detective work you can look and act like the super rich for a fraction of the cost.

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This article provides information only and should not be taken as advice. It is provided without warranty of any kind.