This is an article I’ve tried to write dozens of times. Each time, I scrap it. What I write ultimately sounds pretentious or preachy. But today, I’m trying one last time.
Over the weekend, a crypto influencer named Pierrick Jamaux got shot to death by robbers who wanted his $200,000 Richard Mille watch. Jamaux is just the latest in a long line of crypto influencers who’ve gotten robbed.
In November, 2021, two crypto traders got robbed of their expensive watches in Miami. In August, 2021, a Brazilian-based crypto trader / lifestyle guru was shot to death while driving his Porsche through the city of Sao Pedro. And while not specifically crypto related, rapper Pop Smoke was shot to death in 2020 over a Rolex watch that his killers later resold for $2,000.
I don’t want to sound like a moral scold or insult anyone who died, but a lot of people (young men in particular) are putting themselves and their friends / family in extreme danger by constantly needing to show-off.
Social media is filled with users who hit the six-figure or million-dollar benchmark and instantly develop a braggadocios and abrasive personality. And many of these people unwittingly paint a massive target on their backs.
Here are a few tips for staying safe once you reach a high net worth.
Keep A Low Profile
I used to live in an expensive neighborhood and my next door neighbor owned a Bentley Continental. That car never left the area we lived in, and the neighbor had a modest second vehicle (either a Toyota or Nissan, I forget) for driving downtown.
While there’s nothing wrong with having nice things, showing off to everyone is a great way to attract the wrong attention.
Likewise, if you’re buying someone else a present, don’t get them something that’s easily identified as expensive. Last Christmas, I bought my Mom a cashmere Burberry scarf and I made sure to not get the iconic khaki color scheme. My Mom knows what the scarf is, random people at the gas station or supermarket don’t need to.