After seeing the Lake Charles thread, I thought I’d run the OT through the varying degrees of wealth that exist. Also keep in mind that there are significant differences in lifestyle choices based on whether the person/estate is in wealth accumulation mode or wealth preservation mode. I am assuming for the purposes below that we are somewhere in between the two and want to leave an inheritance behind. As you climb in wealth, there is a ton of nuance that goes into lifestyle/spending decisions.

$250,000 - Probably have anywhere from $150k-250k annual salary; we can afford a decent house, we may have a bit of commute, can splurge on occasion and probably don't have too much to worry about as long as you don't get laid off.

$500,000 - Probably have a $250-500k salary, we upgraded the house so we don't have much a commute, kids in private school, can afford brand new luxury cars (Benz, BMW, Volvo, etc.), vacations, maybe a boat or other toy. Getting laid off could be an issue dependent on transferability off skillset.

$1,000,000 - $7,500,000 - The differences as we go up in this category are subtle, but they exist. We’re getting into more exclusive neighborhoods, private schools, luxury cars, luxury vacations, entertainment, designer clothes, first class flights, nice boat and maybe even a small used single prop plane (Cessna 4-seater or something similar). We’re joining country clubs, exclusive social clubs, and are entering the socialite scene.

$7,500,000-$50,000,000 - Pretty much the same at the 1-7.5mm category, but the vacations are nicer and perhaps some exotic locales, perhaps we now own a vacation home, more exclusive country clubs, and now you can definitely afford a couple of splurges (lambo, ferrari, mclaren supercar), you can spend within reason and live a luxurious life. Flying first class, vacationing when you want, etc. We could be flying private on occasion, but it’s still a bit of stretch. The higher up we go in this category, the more of this we sre be able to do. At the upper end here, you can get a suite or some floor seats. We do need to be careful not to overextend and blow ourselves up.

$50,000,000-$150,000,000 - Now we're getting really getting into upper echelons of the wealth. Money is not an object, and we can spend freely. We’re able to fly private when we want, on the lower end you need to keep it in check somewhat but at the upper end we don't worry too much. Floor seats, luxury suites, and high-end entertainment options are within our reach. We can buy an expensive vacation home, fractional ownership of a twin-turbo prop (King Air, Pilatus, Piper) and maybe fractional interest in a small used jet at the very upper end. Maybe a small yacht is more you speed; you can do it. You probably need to choose between a jet and a yacht and a vacation home depending on how high-end of each you want.

$150,000,000-$250,000,000 - Similar to above, but we're upgrading the jets, the boats, and vacation homes. We can charter a business class jet whenever we want. We need to decide what we want to do here: do we want to own a business class jet, a mid-size ranch, a stupidly expensive yacht, or a yard full of a quarter million-dollar cars. Our only concern is making sure that we have liquidity to fund our desired lifestyle so we need to make sure that we don't have too much tied up in illiquid investments and we do want to watch our spending on depreciable assets that could suck us dry. We need to do some estate planning and consider the next generations.

$250,000,000-$1,000,000,000 - Now we are considering our legacy. We have a private foundation, we have a family office to manage our affairs, and we can spend with impunity. We're traveling exclusively private, and we probably own a jet. We can pick our poison here, do we want a $50-100mm asset (ranch, yacht, minority stake in a sports team) or two. As we approach the billion-dollar mark, we can probably do multiple $50-100mm assets. It depends on how we want to manage those as well; ranches, boats, planes, etc. are expensive to staff and maintain.

$1,000,000,000+ - Congratulations, money is no object, just don't be too stupid and we can do what you want. We may need a few billion to buy a sports team, but otherwise, we can buy what you want. We can borrow money with ease, so liquidity isn’t a huge issue for us.

One thing to keep in mind is that boats, ranches, vacation homes, and airplanes can run 5-10% of the cost to maintain or even more. So, a $20,000,000 plane can cost $2,000,000 to maintain not considering upgrades and such.