Thursday, July 28, 2011

The Cost of Wealth

U.S. Trust came out this week with a survey of America's top-earning households, asking specifically about their attitudes toward their wealth. They talked to 450 people with at least $3 million in investable assets, and the results were surprising, instructive and even a little sad.

For instance, nearly half of the respondents indicated that there had been negative consequences to the accumulation of their wealth. Among those who said their wealth had come at a personal cost, the most common regrets were:

* Do not take enough time off (66 percent agreed with this)
* Too busy to spend time with family (49 percent)
* Define self-worth by wealth (31 percent)
* Mishandle personal relationships (26 percent)
* Physical health suffers (26 percent)
* Miss important milestones of family/friends (25 percent)

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