How the Rich Spend Their Time Off

How the Rich Spend Their Time Off

Although money itself doesn’t rest, the wealthy who earn it often does. Bill Gates, Jeff Bezos, and other successful people often sleep between 7 and 8 hours every night.

Moreover, when these wealthy individuals find themselves with tons of extra time, they often indulge in the kinds of lavish diversions that only they can afford.

Let’s take a peek at the lifestyle of the rich and see what most of them do in their spare time.

1. Collectibles

It doesn’t matter how much anything costs; wealthy collectors will spend money on it if they think it’s worth it. Many affluent people view these trendy collections as a smart financial move and a pleasurable way to put their money to work.

For example, many rich people are drawn to vintage Diecast Aircraft, cars, trucks, and vans. However, some would go as grand as rare antique cars and exotic animals.

Due to the high costs related to buying and storing such collections, certain collectibles are priced out of reach for all but the most affluent people. However, the wealthy rarely acquire collectibles for the sake of financial gains. Overall, for the rich, investing in collectibles is more about pleasure than money.

2. Reading

MAINTAIN FOCUS WHILE STUDYING

Over 85% of self-made billionaires read two or more books every month, according to studies cited by Thomas Crowley. While there is a place and time for recreational reading, the books that millionaires read are those that help them become better versions of themselves.

By reading the success stories of others, you can accelerate your progress. This provides the groundwork for you to begin conceptualizing potential routes of earning money. Reading also provides the opportunity to put these concepts into practice and develop the ability to make sound choices.

The wealthy believe that if you read the appropriate books often enough, they will spark the creative processes in your mind that will lead to new and innovative ways to boost your income. Your chances of becoming wealthy are substantially higher if, like most financially successful individuals, you make it a habit to read several books on personal development and financial management.

3. Golf

Golf is widely regarded as one of the most expensive sports. Before you even arrive at the course and pay your green fees, you must purchase clubs, shoes, golf balls, carts, and bags.

While most of us would instead take a weekend road trip with friends, rich people golf as a fun pastime and a means of establishing connections with other well-off people and preserving a specific social position.

In addition, business people use golf as an excellent opportunity to discuss their partnership over an enjoyable activity, whether with a client or with other business people. Lastly, golf is a sport that doesn’t require being in great shape, so even old, wealthy people can play it for fun.

4. Polo

Polo

Polo is a ball game played by two teams mounted on horses. It’s also touted as the sport of kings.” 

It earned its label as “the sport of kings” because only royalty and courtiers were allowed to participate when it was first introduced in ancient Iran. The British spread its use across the globe over the years. The expense of training and purchasing the necessary equipment to play the game makes it unaffordable for most people, with the obvious exception of those already wealthy.

To play well throughout a competition, polo players typically have a stable of four to six horses. Moreover, to be a good rider, you must commit to spending a few thousand dollars on lessons before considering competing.

5. Horse Racing

Equestrian sports include various activities, such as vaulting, show jumping, and dressage. Because owning a horse and providing proper care for one is so expensive, most sports are reserved for wealthy individuals.

Spending money on racehorses is a great way to flaunt your wealth in the eyes of your neighbors. The owners of the greatest horses may talk a good game about their passion for the animals, but the reality is that they rarely even get to see their horse outside of the races it participates in. 

Professional stables are responsible for the care and training of the horses. These animals are similar to work horses in that they devote their entire day, every day, to preparing for races.

Furthermore, some people maintain horses as pets as a status symbol; these animals necessitate a dedicated facility and personnel, as their wealthy owners will not be bothered with the day-to-day care of the horses.

Conclusion

We may believe that everything rich people do is oriented toward wealth-building tactics, such as investing as much as possible and generating several income streams. But, though they work hard, they also value time spent on leisure pursuits and passions for relaxation and recreation. Unfortunately, these kinds of pastimes are out of reach for ordinary people.

Author

  • Jason Cochran is the author of Here Lies America (Well Hall Books) and Editor-in-Chief of Frommers.com. He has twice been awarded the top honors in the Lowell Thomas Awards for his travel guide books and has been a regular writer for Entertainment Weekly, Travel + Leisure, USA Today and many others. A graduate of the Medill School of Journalism at Northwestern University and of Graduate Musical Theatre Writing at New York University’s Tisch School of the Arts, he also devised questions for the first prime-time season of Who Wants to Be a Millionaire (ABC).

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