November 19, 2014 Fact of the Day: How much do wealthy investors spend on household staff?
Do you know how much wealthy individuals spend each year on household staff?
Maybe not as much as you might think. About 22 percent of the ultra-wealthy…those with more than $25 million…spend “$0” on household staff…choosing to clean their homes and mow their lawns on their own. Forty eight percent spend less than $10,000 annually. Sixteen percent spend $10-25,000 and 16 percent spend between $25 to $100,000. Only 12 percent spend more than $100,000 on household staff annually.