D Rusak
Jedi Council Member
excerpt from
The Jet Set's Shopping List Unmasked
How do the very wealthy spend their money? You may not want to know.
By Thomas Kostigen
MarketWatch
Private jet owners have an average annual income of $9.2 million and a net worth of $89.3 million. They are 57 years old. And 70 percent of them are men.
Hannah Shaw Grove and Russ Alan Prince, two researchers, surveyed the group to find out who they are, what makes them tick, and perhaps most interestingly, what they spend their money on.
The average jet setter spends nearly $30,000 per year on alcohol (wines & spirits). Grove and Prince note that this amount is about two-thirds of the median household income in the U.S. And that's the smallest category of spending they surveyed.
The next smallest was "experiential travel," which includes guided tours, such as photographic safaris, or hikes to Machu Picchu, or eco-tours to the Brazilian rainforest, or kayaking in Baja California during the gray whale migration. For these experiences, jet setters spend an average of $98,000 per year.
Travel
But these journeys are small potatoes when compared to how much these wealthy individuals spend on hotels and resorts ($157,000 a year), or events at hotels and resorts ($224,000 a year). Spa treatments even fetch more jet-set dollars than wilderness tours. The average jet setter spends $107,000 a year at spas around the world.
Not that many of these "global citizens," as they like to be called, would know: Just 34 percent of jet owners open their own mail and only 19 percent pay their own bills, Grove and Prince found. This results in a sort of detachment from the world and creates "the low level of awareness that most jet owners have about their finances," they say.
Indeed, it would take a curious psychological composition to comprehend spending $147,000 a year on watches, as the jet set do. Or $117,000 on clothes. Or a whopping $248,000 a year on jewelry. Psychopathy, anyone?
http://biz.yahoo.com/special/luxury083106_article1.html
The Jet Set's Shopping List Unmasked
How do the very wealthy spend their money? You may not want to know.
By Thomas Kostigen
MarketWatch
Private jet owners have an average annual income of $9.2 million and a net worth of $89.3 million. They are 57 years old. And 70 percent of them are men.
Hannah Shaw Grove and Russ Alan Prince, two researchers, surveyed the group to find out who they are, what makes them tick, and perhaps most interestingly, what they spend their money on.
The average jet setter spends nearly $30,000 per year on alcohol (wines & spirits). Grove and Prince note that this amount is about two-thirds of the median household income in the U.S. And that's the smallest category of spending they surveyed.
The next smallest was "experiential travel," which includes guided tours, such as photographic safaris, or hikes to Machu Picchu, or eco-tours to the Brazilian rainforest, or kayaking in Baja California during the gray whale migration. For these experiences, jet setters spend an average of $98,000 per year.
Travel
But these journeys are small potatoes when compared to how much these wealthy individuals spend on hotels and resorts ($157,000 a year), or events at hotels and resorts ($224,000 a year). Spa treatments even fetch more jet-set dollars than wilderness tours. The average jet setter spends $107,000 a year at spas around the world.
Not that many of these "global citizens," as they like to be called, would know: Just 34 percent of jet owners open their own mail and only 19 percent pay their own bills, Grove and Prince found. This results in a sort of detachment from the world and creates "the low level of awareness that most jet owners have about their finances," they say.
Indeed, it would take a curious psychological composition to comprehend spending $147,000 a year on watches, as the jet set do. Or $117,000 on clothes. Or a whopping $248,000 a year on jewelry. Psychopathy, anyone?
http://biz.yahoo.com/special/luxury083106_article1.html
