WSJ: Wealthy women don't feel extravagant - Spear's Magazine

WSJ: Wealthy women don’t feel extravagant

Last year, I was speaking at a gathering of wealthy male investors. The organizers posted the results of a survey showing that only a small percentage of wealthy men believed their wives spent too much.

From the Wealth Report:

Last year, I was speaking at a gathering of wealthy male investors. The organizers posted the results of a survey showing that only a small percentage of wealthy men believed their wives spent too much.

“What?” shouted one participant. “Those guys have to be lying.”

A recent survey by Wilmington Trust, Campden Research and Relative Solutions proves the point. The companies polled 40 women (I know, that is more like a show of hands than “survey”), each with a net worth of $25 million or more.

About half the respondents inherited their money, a quarter got it from their husbands and the other quarter earned it themselves. That is roughly in line with other surveys of wealthy women and the source of their money. One interesting note: among the self-made women, 90% got their money from owning a business, rather than earning a salary.

As for spending, almost all the women (90%) described their spending habits as “below their means.” The report on the survey said that is “possibly because they do not view their extreme wealth as defining their success.

To read the full story, visit blogs.wsj.com



 

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