I drive a 13-year-old car, wear a $300 fitness watch, and most of my “fine dining” takes place at the kitchen counter with my wife and kids.
But that doesn’t mean I don’t enjoy the finer things in life on occasion, those luxury items and experiences that serve as a reward for a lot of hard work, sacrifice, and patience.
Such is the case for many high net worth individuals, who find the balance between spending on luxury indulgences and still understanding the value of a dollar.
A lifestyle of luxury may be just a dream for most, but high net worth individuals can routinely indulge in exotic travel, fine dining, and the world’s nicest automobiles.
Of course, the most important aspect of wealth is that it affords people peace of mind, a treasure trove of options, and the freedom to use their time however they wish.
So, even if we don’t get the opportunity to check all of these things off of our Bucket List, it sure is fun to daydream!
In this blog post, we take a break from the markets and economy while we delve into the world of luxury living, exploring some of the most sought-after experiences, possessions, and services that high net worth individuals most commonly covet.
Exotic Travel
High net worth individuals often have a penchant for exploring the world's most exclusive destinations. From private islands and luxury resorts to private jet travel and yacht adventures, they seek unique and extravagant travel experiences that cater to their refined tastes and desire for exclusivity.
The top 10 luxury travel destinations for the wealthy and famous:
- Rio De Janeiro, Brazil
- The Maldives
- Goldeneye Resort, Jamaica
- Ibiza, Spain
- Saint Tropez, France
- Paradise Beach, Mykonos Island, Greece
- Palmizana, Hvar, Croatia
- The Hamptons, USA
- Telluride, USA
- Lake Como, Italy
Source: https://www.therichest.com/travel/15-amazing-travel-vacation-destinations-from-the-rich-and-the-famous/
Fine Dining and Culinary Experiences
For the affluent, dining is not just about sustenance but also enjoying the exquisite flavors, presentation, and ambience prepared by the best chefs in the world. Epicureans routinely indulge in world-class dining at Michelin-starred restaurants, with private chefs, and at exclusive culinary events, relishing the art of gastronomy.
The top 10 Michelin Star restaurants in the world:
- Central, Lima, Peru
- Azurmendi, Larrabetzu, Spain
- Atelier Crenn, San Francisco, United States
- Le Bernardin, New York, United States
- Mirazur, Menton, France
- The Fat Duck, Bray, United Kingdom
- Den, Tokyo, Japan
- Noma, Copenhagen, Denmark
- Attica, Melbourne, Australia
- Robuchon Au Dome, Macau, China
Source: https://luxe.digital/lifestyle/dining/best-michelin-star-restaurants/
Fashion, Art, and Luxury Goods
Wealthy individuals often appreciate the latest and greatest in fashion, art, and luxury goods. From high-end fashion brands and timeless timepieces to rare artwork and collectibles, they seek the crème de la crème of quality, craftsmanship, and exclusivity, enhancing their lifestyle while also making a bold statement.
The top 10 luxury watches in the world:
- Rolex Submariner
- Omega Speedmaster
- Audemars Piguet Royal Oak
- Jaeger-LeCoultre Reverso
- Rolex Datejust
- Tag Heuer Monaco
- Glashutte Original Senator Navigator
- Breitling Navitimer
- Cartier Santos
- IWC Portuguese
Source: https://www.ablogtowatch.com/top-10-living-legend-watches-to-own/
The top 10 luxury brands in the world:
- Gucci
- Dior
- Chanel
- Louis Vuitton
- Hermès
- Rolex
- Tiffany
- Prada
- Versace
- Ralph Lauren
Source: https://luxe.digital/business/digital-luxury-ranking/most-popular-luxury-brands/
Luxury Automobiles
For those who enjoy the finer things in life, it’s not enough to arrive – but to arrive in style. And for car connoisseurs, there’s no greater joy than operating a luxury automobile, whether you’re driving up the Pacific Coast Highway, cruising to the golf course, or just buzzing around town.
The top 10 luxury automobiles in the world:
- Rolls-Royce Phantom
- Rolls-Royce Ghost
- Bentley Flying Spur
- BMW i7
- Mercedes-Maybach S-Class
- Rolls-Royce Cullinan
- Bentley Bentayga
- Range Rover
- BMW iX
- Mercedes-Benz EQS
Source: https://www.autocar.co.uk/car-news/best-cars/top-10-best-super-luxury-cars
High net worth individuals relish the finer things in life, including fine dining, luxury travel, and the culmination of craftsmanship, from their timepiece to what’s sitting in their driveway.
And while the items on this list certainly signal success, remember that a luxury lifestyle is subjective and means different things to different people.
Furthermore, those who have amassed significant wealth, built businesses, and managed their investments prudently pick and choose which extravagances they value most.
Our high net worth clients would be the first to say that it's essential to prioritize mindful spending, responsible consumption, and sustainable practices - even in the presence of luxury.
And by exhibiting balance and healthy discipline, high net worth individuals can enjoy financial freedom, while also savoring some of the finer things in life.
Happy planning,
Brian