Investors define what it means to live a "rich'' lifestyle.
Lifestyles of the Rich and Famous was a TV series that ran for 10 years from the mid-1980s to the mid-1990s and regularly showed people living a life of champagne wishes and caviar dreams.
As it turns out, many people are not so sure a rich person’s lifestyle is all about personal pleasure.
In a Millionaire Corner survey of more than 1,100 investors, 38 percent said that a rich person’s lifestyle is “complicated”, with the complications stemming from the problems having money creates. Such an attitude was more prevalent among women, with 43 percent of female investors saying the rich lifestyle is complicated (only 34 percent of men felt that way). Forty-one percent of unmarried investors felt the rich lifestyle led to complications.
There was also disparity between political affiliations. Only 31 percent of Republicans felt a rich lifestyle was complicated, while 42 percent of Democrats saw complications coming from living as a rich person.
While “complicated’’ got the most responses, there were other popular choices, including the more prevalent belief that a rich lifestyle is “carefree”. Thirty-two percent of investors selected “carefree’’ to describe a rich lifestyle, noting that for a rich person “money is not an issue and life is good.”
As opposed to the way the “complicated” topic went, it was male investors who saw a rich lifestyle as “carefree”. Thirty-seven percent of males chose “carefree’’ while only 26 percent of females did so. Forty-two percent of Business Owners said the rich lifestyle was a carefree one.
Fifteen percent of investors took the Spider-Man approach to a rich lifestyle, saying it is “duty-bound”. As the survey suggested, “with great wealth comes great responsibility.” Women (18 percent) felt this tug more than men (14 percent), Interestingly, not a single investor under the age of 40 saw the duty-bound status of a rich person’s lifestyle, while 17 percent of investors over the age of 50 chose “duty-bound’’ to describe the rich person’s lifestyle.
Finally, 14 percent of investors chose the word “intense’’ to describe a rich person’s lifestyle. The survey presented that to mean “Rich people work hard for the most part, and occasionally they play hard”. Such a point of view was more widely held by Corporate Executives (26 percent) and investors under the age of 40 (24 percent).
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.