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Money Really Can't Buy Happiness

by Rigel Celeste (RSS feed) —


It's an old adage that's floated around for years, but now we finally have scientific data to back it up: money really can't buy happiness. A study published in the June 30th issue of the journal Science says that income really doesn't have much impact at all on a person's daily happiness level. The study goes on to say that the more money people have the tenser they tend to be and the less time they spend on simple leisure activities.

So although most people (myself included) tend to think that having just a little more money would go a long ways towards reducing stress levels, it might not be as green as we think on the other side of that fence.

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Tags: content, contentment, happiness, happy, money, rich, wealth

A.& P. Heir Famous For Losing All His Money Dies At 97

by Deidre Woollard (RSS feed) —

Huntington Hartford, a man who inherited a fortune from the A. & P. grocery business and became famous for squandering most of it, died yesterday at his home in the Bahamas at the age of 97. His story is one of those particularly American stories of wealth, ambition, dreams and loss. He inherited an estimated $90 million and lost around $80 million of that.

He was a grandson of a a principal founder of the Great Atlantic & Pacific Tea Company and was raised with wealth as a boy. His desire was to be, as the NY Times puts it "an arbiter of culture and a master builder," a goal he worked on in a variety of ways. He opened the he Huntington Hartford Museum, also known as the Gallery of Modern Art in Manhattan in 1964 to showcase 19th and 20th century art and to buck the current trend then for Abstract Expressionism. The overblown palazzo-style of the building, which is shown at right, was considered slightly ridiculous and the art inside wasn't particularly distinctive. Hartford poured $7.4 million into the project before giving up and the museum's home is now undergoing a extensive redesign as the future home of the Museum of Arts and Design.

Another costly venture was his investment in Hog Island, in the Bahamas. In 1959 he bought most of the island, renamed it Paradise Island and started to build a lavish resort. Unfortunately he was unable to get a gambling license for the resort and his increasingly extravagant plans doomed it to failure, losing him an estimated $25 million to $30 million.

His life reads like a story of wrong turns. He graduated from Harvard and worked briefly for his uncles at the company headquarters but was often absent. He donated a yacht to the Coast Guard after the start of World War II and was given the command of a supply ship in the Pacific which he rang aground twice. In Los Angeles, he tried his hand at the movie business and converted an old movie house in a stage theater, the Huntington Hartford Theater. He later started an arts and entertainment magazine, Show which he lost more money on before it folded in 1973. He eventually declared bankruptcy even though he was still the beneficiary of a trust fund that brought him more than $500,000 a year.

His losses were so legendary that a book "Squandered Fortune: The Life and Times of Huntington Hartford" (Putnam, 1991) was written about his life. The author Lisa Rebecca Gubernick that lacked focus, his dreams were big but he was easily distracted.Hartford definitely had his fun, marrying four times and spending time in the company of movie stars. All in all, not such a bad life even if it was the reversal of the American dream. Writing in Esquire in 1968 he described himself as "Horatio Alger in reverse."

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Tags: huntington hartford, HuntingtonHartford, rich, wealthy

Ultra Rich Continue to Spend

by Rigel Celeste (RSS feed) —

Filed under: Celebrity Shopping


Economic slump or not, according to The New York Times the ultra-rich aren't slowing down on spending. This news follows right along with the current trend of contradicting reports we keep hearing, like the fact that luxury retailers are reporting steadily falling sales while private jet spending is holding steady or even going up but luxury car sales are down. So what is it, are the rich spending or aren't they? Or is it just that the ultra rich are still spending, but all those who are just "middle-of-the-road" rich are cutting back?

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Tags: economy, money, rich, shopping, spending, wealthy

How the Rich Spend Their Money

by Rigel Celeste (RSS feed) —

Filed under: Celebrity Shopping


Having a million dollars isn't what it used to be. In fact, having a million dollars in the bank in today's world only equates to being a "middle-class millionaire." To be truly rich you'll have to clear somewhere around $10 million in the bank, and to be considered "crazy wealthy" those stacks of dough will need to add up to more than $30 million. That is a lot of money.

So what to the rich and the crazy-wealthy of the world do with all that cash? Of course they all have their quirks, but some things are pretty consistent: lavish home improvements (think private massage rooms and relaxing zen gardens), one-of-a-kind jewels and jewelry, obnoxiously fast and expensive vehicles, fashion fashion fashion, lots of traveling to exotic locations, and of course all kinds of conveniences and amenities like concierge services and fine dining.

If you had unlimited funds what would you most look forward to spending it on?

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Tags: billionaire, billionaires, celebrities, celebrity, expire-images2009-4-8, middle-class millionaire, Middle-classMillionaire, millionaire, millionaires, money, rich, spending

How to Make a Million (Before You Turn 20!)

by Rigel Celeste (RSS feed) —

The American dream is a little different for everybody but it almost always has something to do with having lots of money and being financially stable. Of those who do have wealth some were born into rich families, some worked like dogs for years and years to build a successful empire, and then others hit it big seemingly by random chance.

This article highlights the successes of 5 people who were millionaires before the age of 20. Whether it was launching an online website for high school friends, selling greeting cards to friends and family, or cooking jams in the kitchen, these kids all did something seriously right.

Hm, needless to say I'm just a tad past my 20th birthday and I don't have any good business ideas. Guess I'll just have to stick to the lottery tickets!

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Tags: how to, HowTo, millionaire, millionaires, rich, wealth, wealthy

The Price of Education: What is the World's Most Expensive University?

by Rigel Celeste (RSS feed) —

Filed under: Services


The cost of a good education is notoriously expensive, and whether you're after the best possible edge in your career of choice or simply the prestige of having graduated from a big name school there's no doubt that the sky's the limit when it comes to how much you may end up paying. So how much do the richest of the rich pay? The most expensive 4 year university in the world appears to be George Washington University in Washington D.C. -- tuition per year runs just under $40,000 (which doesn't even include extras like room & board and books).

Gallery: The Top 5 Most Expensive Universities

#1 George Washington University, Washington D.C.#2 Kenyon College, Gambier OH#3 Bucknell University, Lewisberg PA#4 Vassar College, Poughkeepsie NY#5 Sarah Lawrence College, Bronxville NY

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Tags: college, colleges, education, most expensive, MostExpensive, rich, richest, tuition, universities, university

The Richest Counties in America

by Rigel Celeste (RSS feed) —


I admittedly know very little on the topic, but if I had to guess which was the richest county in America I would probably go with somewhere over in California, where all the celebrities, TV producers, and directors have their beach homes and mansions. According to Forbes, though, that guess would be way off. On their list of the richest counties in America the top 3 are all in the suburbs of Washington D.C., populated with wealthy government officials and government-related businessmen, and all but 1 of the top 10 are located in the eastern part of the country.

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Tags: counties, county, most expensive, MostExpensive, rich, richest

Wealthy Fatigue Syndrome?

by Laura Malesich (RSS feed) —

Cancer, heart disease, and obesity are common issues our population deals with but anyone heard of WFS? No, it's not text message shorthand but stands for Wealthy Fatigue Syndrome, a recent finding that apparently plagues the rich not only in America but Europe and beyond. Is this for real?

I am not sure if it is really clinically correct but it may just be the term to embrace a combination of narcissism, depression, loneliness, and paranoia. It is plausible that as the affluent gain more money, and their daily lives change, they slowly alienate friends, family and co-workers. Those of us who aren't uber-rich may think a night on the town, expensive drinks and dinner, and a taxi ride home is splurging but for the wealthy their private plane ride to a chalet in the Alps is just another day. Not being able to share their experiences with those they care for, they look for new friends that enjoy the same lifestyle they do. Loneliness and depression ensue and to fill that void the wealthy turn to the newest, hottest, most expensive vehicles, clothes and jewelry.

So enjoy your life with the perks and trials we all experience -- our mortgage, our car payments, budgets and bills. It could be worse -- you could have WFS!

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Tags: depression, isolation, loneliness, rich, wealthy, wealthy-fatigue-syndrome, WFS

10 Ways You're Wrong About the Rich

by Rigel Celeste (RSS feed) —


When you think of the wealthy, what do you think? As open-minded as you may be (and unless you're actually rich yourself) you've most likely got at least some preconceived notions. Whether it's something extreme, like believing all rich people are snots, or something subtle, like simply believing the wealthy have no real problems, chances are living the life of luxury is not exactly what you think it is. According to the Luxury Institute there are at least 10 common misconceptions facing the wealthy -- are you guilty of any (or all?) of them?

Gallery: 10 Common Myths About Wealth and Luxury

#1 #2 #3 #4 #5

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Tags: money, myth, myths, rich, stereotype, stereotypes, wealth, wealthy

The Fabulous Lives of "Googlaires"

by Rigel Celeste (RSS feed) —

There are different breeds of millionaire in the world, and one of the latest to develop is the "Googlaire." It refers to that exclusive group of people (estimated at around a few hundred) that have come into money and new lifestyles as a result of striking gold with Google stock options. And although some are obviously blowing their money frivolously and will soon have dwindled it down, there are many who are finding a nice balance between fun (buying dream homes and dream cars) and responsibility (investing the money for the future and starting businesses).

Good to know the Google founders, with their fleet of over-sized private jets and countless other amenities, aren't the only ones getting rich!

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Tags: googlaire, googlaires, google, googleaire, googleaires, luxury, money, rich, stock options, StockOptions, stocks, wealth, wealthy

Newsflash: It's Expensive Being Rich

by Rigel Celeste (RSS feed) —


I can't believe I'm about to say this: Oh, those poor rich people.

But it's kinda true, if you're in a generous and sympathetic mood and willing to look at the numbers. The more money you have the more money you need, it's as simple as that. The luxury market and the prices of luxury goods is rising at about 3 times that of the standard market and of standard goods. Part of the reason for this is the fact that although there's more and more money floating around in the world there is still a finite amount of goods to be purchased with that money, and for people with money to spend status symbols become almost exclusively defined by their price: the higher the better.

It's a LOT more complicated than that, but it really can all be summed up in the simple phrase "it's expensive being rich!"

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Tags: expensive, luxury, luxury market, LuxuryMarket, money, rich, spend, spending, taxes, wealthy

The Richest Horse Races in the World

by Rigel Celeste (RSS feed) —

Filed under: Events


Going to a big horse race is about more than just cheering on your favorite pick, it's also all about fashion, parties, and socializing with the uber-rich. Depending on where you're headed, carnivals are scheduled around the races, there are parties galore, and no shortage of supermodels or brand name and designer goods up for sale and raffle. Horse races are big money, but the biggest of the them all is The Dubai World Cup. With a prize of $6 million dollars you can imagine what decadent luxuries they have available to keep people in the lap of luxury before, during, and after the actual running of the race. Read up and get an idea of the goings in in Dubai, plus several of the other richest horse races in the world, and get ready to plan your next vacation!

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Tags: dubai, equine, horse, horses, most expensive, MostExpensive, race, races, racing, rich, richest

The 20 Most Expensive Celebrity Weddings

by Rigel Celeste (RSS feed) —

Filed under: Events, Celebrity Shopping


How much would you spend on a wedding if money were no object? For most celebrities it isn't, and the result is wedding costs skyrocketing into the hundreds of thousands and even millions of dollars. Forbes recently compiled a list of the 20 most expensive celebrity weddings, going back as far as 20 years. Whether paying for 50,000 exotic flowers or renting an entire island to escape the paparazzi, celebrities spare no expense when it comes to having exactly what they want. The top 5 spenders, in order, are:
Others on the list of 20 include David and Victoria Beckham, Brad Pitt and Jennifer Aniston, and of course Donald Trump and Melania Knauss.

Sadly, 40% of the couples on the list are now divorced (including obviously Brad and Jennifer above), so feel free to check out this list of the most expensive celebrity divorces -- a few made both lists!

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Tags: aniston, beckham, brad pitt, BradPitt, celebrities, celebrity, david beckham, DavidBeckham, expensive, famous, jennifer aniston, JenniferAniston, lavish, most expensive, MostExpensive, nuptuals, pitt, posh, rich, spice, victoria beckham, VictoriaBeckham, wealthy, wedding, weddings

The Top 10 Richest Models in the World

by Rigel Celeste (RSS feed) —

Filed under: Celebrity Shopping


So we all know models make a lot of money, but do you know just how much? And if you had to guess which one was making the most money right now who would you pick? I just love the lists Forbes comes up with, and here's another great one of the world's top earning models. Its list has a total of 15 of the wealthiest models, and I've included the top 10 here:
How many of them do you recognize? And wow, Gisele is way ahead of the competition!

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Tags: best, earn, earning, earnings, model, modeling, models, money, rich, richest, salaries, salary, top 10, top ten, Top10, TopTen, wealthiest, wealthy

What Is Stealth Wealth?

by Rigel Celeste (RSS feed) —

The days of the over-the-top and "in your face" styles of being rich (think Donald Trump) are numbered it seems, as the trends of wealth and luxury are leaning ever more toward quiet, discreet, and as invisible as possible. A team from Newsweek has done some research and exploration of this latest move toward ultra-exclusive living, with their findings published in the July 2-9 edition of Newsweek (available on newsstands now). Getting a glimpse at some of what goes on is truly a treat, as everything from building and real estate architecture to the names and addresses of exclusive bars and clubs are going so understated as to be nearly invisible. And worn and used by the superrich? Obscure brand names, often without labels and logos, that are only known by those who can afford to know and appreciate their quality.

As fun as it is to witness some of the ridiculous extravagance some celebrities are so open about, I think this trend is definitely a good one as far as taste and class go.

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Tags: celebrities, celebrity, famous, luxury, magazine, news, newsweek, rich, stealth, stealth wealth, StealthWealth, stealthy, trend, trends, understated, wealth, wealthy

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