How the Wealthy Raise Their Children

Research firm Prince and Associates found the following differences between the super-rich (those with net worth over $10MM) and the rich (those with net worth between $1MM and $10MM) in how they raise their children:

• Less than 1/2 of the super-rich cite educational achievement as a major goal for their children, compared with 78% of the rich
• Only 29% of the super-rich say they expect their children to get married, compared with 70% of the rich

Source: Forbes.com May 15, 2008 (full link available by clicking title of blog post)

Spending: Rich vs. the Super-Rich

Only 10% of those with assets greater than $10MM said they have pulled back on personal spending. However, spending among people with assets between $1MM and $10MM is down 71%.

Source: Forbes.com, May 15, 2008

Spending Habits of the Business Elite

The business elite, defined as execs with 250+ employees and salaries of $400K+, exhibit the following characteristics:

• 43% take $3000+ per person vacations
• 1 in 4 own vacation homes
• 1 in 4 own jewelry in excess of $4000

Source: Brandweek, May 17 2008. Click headline for full story.