It's not always easy being in the 1%.
Rachel Sherman's book "Uneasy Street" highlights the lives of America's top earners and the anxieties they face, including guilt and comparing themselves to their wealthy friends.
The New York Times also highlighted the anxiety of rich people in a recent article, saying "wealth frequently comes with a bundle of expectations."
Here are some surprising insights into the anxiety of being rich.
SEE ALSO: After 10 years as a financial planner, my richest clients always ask me the same surprising question
Rich people claim they're part of the "middle class" and lead "simple lives."
"These people sometimes characterized themselves explicitly as 'in the middle' when referring to those above them," Sherman writes.
"Here 'middle-income' signals a spending style, not a dollar amount."
One woman with a household income of $3 million told Sherman her family is "just normal."
"I live modestly, I mean, I don’t have jewels. . . . There’s no flash. We’re just normal. I mean, in my world, it’s not flashy. To somebody that lives in a trailer park, I don’t know. But we live a fairly simple life," she said.
Source: Uneasy Street: The Anxieties of Affluence
The 1% doesn't believe they're wealthy unless they have a full-time driver and private plane.
Sherman profiles Helen, a stay-at-home mom with household income of $2 million and assets of $8 million who says she doesn't feel rich compared to others.
"They have private planes. They have drivers. They have all these things. . . . You know, money makes everything easier. It makes it easier for you to do much more, actually. And, you know, we don’t have that luxury in that way," she said.
Source: Uneasy Street: The Anxieties of Affluence
Rich people hide housekeepers, chefs, and nannies out of guilt and embarrassment.
Sherman interviewed a stay-at-home mom who described how she hid her hired help, a common practice for the 1%.
“The chef definitely feels like something I don’t talk about a lot, because it’s almost embarrassing," she said. "With the moms at school, I find it embarrassing."
Source: Uneasy Street: The Anxieties of Affluence
See the rest of the story at Business Insider
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