Money is a powerful tool that delivers comfort and convenience, but to some, it’s a ticket to the most exclusive luxuries in the world. Most people focus on practical things like a house or a car, but the ultra wealthy take that even further, buying things that are neither necessary, nor really practical, but are more about status and excess.
Though these purchases may seem wild to most, they are a reminder of just how far apart the comfortably financially situated are from the obscenely wealthy. Considering all the ways money can go when you don’t have to worry about a budget or savings, these examples will give you a glimpse into the life of extreme wealth.
Private Islands
For those with endless wealth, a private island is the most exclusive symbol you can think about owning. These secluded parcels of land are in the millions and if you are ready to spend millions then you have the luxury of being private from everything and everyone. For so many people, investing in property is seen as a way to secure their future but these islands are more about showing off wealth than creating a sound financial footing.
Pet Cloning
The death of a beloved pet can be heartbreaking, but for some wealthy pet owners, they’ve chosen to have the animals cloned — at a steep price. A cloning for a pet could cost up to $50,000 – or take less money depending on the province – and is an emotional luxury for those who can afford to recreate their furry friend.
Themed Yachts
Having a yacht is already a status symbol, but some people go overboard and make their yachts too outlandish. Some cost tens of millions of dollars, whether it’s a yacht built like a pirate ship or based on the set from a movie. It’s a great example of how people with a lot of money at their disposal may choose to spend money on frivolous stuff instead of useful stuff or saving.
Luxury Coffins
Some people, even in death, go for the extreme luxury. It could cost tens of thousands of dollars for gold plating or diamond encrusting coffins. They want to make sure that when dead they will not just rest in luxury, but in unparalleled opulence. It’s important to save and invest for longevity and the future, but this level of luxury shopping is less an act of planning for the future and more excess consumerism.
Super-Sized Homes
Some, when a typical mansion isn’t enough, choose homes that extend to the thousands of square feet and boast all the possible luxuries. These are homes that are often built on large plots of land, that cost millions to build and maintain. Real estate can be a great investment but these homes are well out of most people’s reach, more about excess than investing for the future.
Personal Shopping Assistants
If you are truly wealthy, then there are shopping experiences that goes beyond shopping and one of it is a dedicated personal shopper. These people help with everything from clothing to furniture so clients can always be at the top and have the latest. People who have personal shopping assistants have sought convenience over conventional financial strategies.
Private Concerts
Think of having a world famous artist perform just for you and a handful of your friends. Concerts to the private can go for millions of dollars and have access few can dream about. Most people concentrate on saving and improving their finances, but these events are all about luxury and status, and none about financial planning or growth.
Gold-Plated Cars
Some people feel that owning a luxury car isn’t quite enough. That’s why they take the extra step, investing in gold plated vehicles which can be several times what the car originally cost. To most, this may seem excessive, but it shows just how the ultra wealthy can spend without the worry of budgeting or even worrying about their financial stability.
Designer Wedding Dresses
Weddings are expensive, and for some, the dress is the most important part. On the big day, designer wedding dresses make a bold statement — and they can cost hundreds of thousands of dollars. Most people plan their wedding within their finance and budget, but the wealthy go for extravagant choices just to appear different.
Custom-Made Golf Courses
The ultimate indulgence for the avid golfer might be a custom made golf course. A course that they can tailor to their specifications to the tune of millions. This purchase represents a change towards more indulgent, and personal, rather than more practical, lifestyle investments.
Personalized Perfumes
Those who want a fragrance that is their own from top to bottom can create a personalized perfume. Prices can start cost as much as $100,000 and it’s a luxury most people can’t afford. Instead of saving or creating wealth, this is more about exclusivity and personal identity.
Disclaimer: This list is solely the author’s opinion based on research and publicly available information.
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