Sure, it’s fun to drive the Porsche, and, in my wife’s case carry the LV, but, IMO, those things really mean very little in and of themselves.
For example, we shop and dine around the DM, CV, RSF area often. Talk about the epitome of status conscious–BUT, something we’ve noticed over the many years we’ve lived in the area, is how most of the people we see out and about seem to perpetually remain in the 30-45 age range–it’s like a revolving door.
We’ve rarely seen a large population of the 50+ crowd–even when we were in our 30’s–20+ years ago. Since it’s a pretty great area in which to live, we find it odd.
I realize many of them probably have to relocate for jobs, but, it also tells me many of them don’t “last” because they can’t sustain the lifestyle.
IMHO, “perceived” or “real” “status” is meaningless, unless you have the net worth to sustain it over your lifetime.