Americans with great wealth are able to spend money on things others cannot afford, such as collectibles, or spend vastly more on everyday items, including clothing and home improvement.
A new whitepaper from Spectrem Group examines very wealthy investors' spending habits, looking in particular at items that for the most part are not necessities.
Spectrem collected data this year from 168 investors across the U.S. with a net worth of $25 million or more through mail and an online survey, completed by the person primarily responsible for making day-to-day financial decisions within the household.
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
