2. Several Vacation Homes
You don’t have to be super rich to buy a vacation home. In fact, vacation-home sales accounted for 16 percent of residential property transactions in 2015, according to the National Association of Realtors.
However, the very wealthy can afford to buy several vacation homes.
“This enables them to spend more quality time with their immediate family and their friends,” said Tom Corley, author of “Rich Habits: The Daily Success Habits of Wealthy Individuals.” They may have a home by the beach, lake and a ski resort so they can retreat to any of these places, he added.
These vacation homes are typically large compounds designed to provide the wealthy with privacy, said Sun. Because they usually are so busy, the rich want the time that they do get to spend with family and friends to be free of prying eyes and interruptions.
“You can’t just go to the Hilton and hope no one wants to take a picture of you,” said Sun, explaining why the rich don’t vacation like the rest of us.
If you can’t afford several vacation homes — or even one — you might be able to become part owner through a timeshare, said Corley. Owning a timeshare can give you the opportunity to stay at a particular property every year at a certain time.
And for more flexibility, you can rent someone else’s vacation home through websites such as VRBO.com and HomeAway.com.
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