Rich Feel 'Guilty' Spending Now: Poll

By Harry Kimball,  Newser Staff
Posted Apr 30, 2009 3:18 PM CDT
Rich Feel 'Guilty' Spending Now: Poll
A man poses with shoes at the Millionaire Fair in Munich last year.   (AP Photo)

Even the still-rich are unhappy in this economic climate, though their dolor is more likely to come from shame than anything else, USA Today reports. 54% of people who have $100,000 to spend after such mundane things like mortgage payments and taxes “feel guilty purchasing luxury goods” nowadays, according to a survey. But it’s not just because of the disapproving glares of the masses.

In fact, 53% of the well-off actually fear they will run out of money. The group makes up only 10% of households, but is responsible for more than half of retail sales. In advice that still assumes a certain remove from the average Joe, an adman suggested luxury retailers market products with words the affluent “can use at a dinner party to justify their purchase.” Like, say, “vintage.” (Read more wealthy stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.