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After all, do you really need a gold bidet?
But, according to financial experts, some of their more spendy buys may actually be wise.
Its not just about avoiding TSA lines (though lets be honest, thats a pretty sweet perk).
When youre worth millions or billions, your time is literally money.
Luxury Real Estate
Sure, a mega-mansion might seem like overkill when a cozy apartment would do.
But Hodgins said, Luxury real estate can appreciate in value, serving as a financial investment.
But its not all about the Benjamins.
Hodgins said, Personal chefs and trainers contribute to health and productivity.
The idea here is that your investing in your most important asset yourself.
He added, Youre not just covering yourself youre making sure your familys set if the worst happens.
High-End Clothing
Before you scoff at four-figure price tags on basic-looking shirts, listen up.
Its not about having a closet full of designer labels; its about building a wardrobe that lasts.
Think more neutral solids and classic cuts and fewer prints and trendy pieces that could look dated next year.
But Cirksena said educational courses (such asbusiness or entrepreneurship) are a smart buy for the wealthy.
High-end education opens doors to significant personal and professional growth, Hodgins said.
It could boost your income down the line and more importantly, it keeps you engaged and fulfilled.
Luxurious Mattresses
This one isnt necessarily the most obvious, but think about it.
The wealthy understand the value of a good mattress, Stearn said.
Its an investment in your health and well-being and it also feels darn good.
Croak said it beautifully: Donating to charity is another solid move for the wealthy.
If theres a cause close to your heart, why not support it?
Most of us want to make a difference and this is a direct way to do it.
Cirksena pointed out that its also excellent that charitable donations can be a tax deduction.
Its the ultimate win-win: you get to support causes you care about and potentially reduce your tax bill.
Croak shared a pro tip for would-be philanthropists: Just verify you choose a well-respected charity.
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