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Featured Advisor



Kim Butler
President

Partners for Prosperity, Inc.

City:Mt. Enterprise

State: TX



BIOGRAPHY:
I have 20+ years of handling alternative investments in cash, growth and income for clients nationwide.  I strive to help my clients with all things financial in every way possible over the phone and the web.  I own an alpaca farm which I enjoy working during my downtime.  I also enjoy gardening, writing and reading books.  I also train other advisors on Prosperity Economics.

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November 17, 2014 Millionaire Fact of the Day


 

 

 

November 17, 2014 Millionaire Fact of the Day

 

 

Did you know that most households with more than $25 Million spend less on extravagant items than you might think?


Most wealthy households don't live the lifestyle of the Kardashians, while it's fun to watch, it is not always realistic.  In fact, only one-third of households with $25 Million Plus of assets spend more than $10,000 dollars per year on clothes.  The other two-thirds spend less than 10,000 dollars.  Only one-third spend more than $10,000 annually on jewelry and only 19 percent more than $50,000 on an automobile.  So where do they spend their money?  On vacations.  Sixty percent spent more than $10,000 per year on vacations and almost half pay more than $10,000 per year on charitable contributions.  In fact, 12 percent make charitable contributions exceeding $100,000 dollars annually.  At this time of elections, it is interesting to note, 15 percent make political contributions of over $10,000.  I don't know about you, but with the recent cost of airfares it is probably not hard to exceed the $10,000 dollar limit for vacations.  So while your expenditures may be lower, some of their spending isn't as excessive as it's believed to be and in many cases they are contributions to good causes.