caption The wealthy are showing off their riches less. source Alan Crowhurst/Getty Images Long synonymous with dripping diamonds, flashy Lamborghinis, and shiny Rolexes, rich people are being more discreet about their money. Showing off wealth is no longer the way to signify wealth. Investing in things like education and health helps the rich propel social mobility and gain access to what the middle class cannot. Owning a Louis Vuitton handbag, multi-million dollar Bugatti, or shiny Rolex has always been a marker of elite status. But such flashiness is becoming less ubiquitous among the ultra-high-net-worth crowd. They’re spending more than ever before on security and privacy, trading in hilltop houses for homes in hidden neighborhoods invisible on Google street view. And in an era where mass consumption means both the upper-class and middle-class can own the same luxury brand, the rich are forgoing material goods to invest in immaterial means as a way … [Read more...] about Forget shiny Rolexes and Louis Vuitton handbags — rich people are investing more in education and health, and it shows that discreet wealth is the new status symbol
How rich people think
One of the most coveted types of real estate property in Singapore is the landed property. Peppered throughout Singapore among the towering HDB's and Condos, landed properties can both inspire and act as a stark reminder of Singapore's wealth gap. So how much do you actually have to earn to be able to afford a landed property? Below, we take a look at the costs are associated with owning a landed property and how much you need to earn to afford one. How Much Do Landed Properties Cost? Depending on the type of landed property you want to get, you can expect to pay between a few hundred thousand dollars up to S$100 million. When breaking down the landed properties into their categories, we found that a fully detached bungalow sold for an average of S$13,100,000, semi-detached properties sold for an average of S$4,123,200 and terrace houses sold for an average of S$2,858,000 in the first 6 months of 2018. The most expensive properties are Good Class Bungalows (GCBs) which typically … [Read more...] about How rich do you have to be to own landed property in Singapore?
caption Money isn’t everything — even to the wealthy. Author not pictured. source Dan Kitwood/Getty Images Money isn’t the only thing millionaires focus on to get and stay rich. Author Steve Siebold has interviewed more than 1,200 of the world’s wealthiest people over the last 34 years and wrote two books revealing how they achieved success. Siebold says there are 10 things rich people put their energy into that help them find their success – including learning, courage, and results. When most people talk about acquiring wealth, money is usually the main focus of the conversation. How can I save more money? How can I spend less money? How can I better manage the money I have? While all of these things are certainly important points for consideration, the truth is that becoming rich has a lot less to do with money than most people realize. I’ve interviewed … [Read more...] about I’ve interviewed millionaires all over the world, and building wealth has a lot less to do with money than you think
source Lauren Greenfield Rich people and wealth inequality are major themes in photographer and filmmaker Lauren Greenfield’s work. Last year she released the book “Generation Wealth” that pulls together the past 25 years of her work, and includes interviews and insights from both herself and her subjects. In April, Greenfield debuted her documentary film by the same name at Sundance Film Festival, with a wider release planned for July 2018. Award-winning documentary photographer and filmmaker Lauren Greenfield has been photographing and interviewing rich people since the early 1990s. After attending college at Harvard, Greenfield returned to her home in Los Angeles and began documenting youth culture. At that time, she didn’t realize that she was photographing the beginning of “a period of rampant materialism and wealth obsession,” as economist … [Read more...] about A photographer spent 25 years documenting rich people — meet some of her most memorable subjects
Wall Street bonus season, where bankers really make their money, is nearly upon us. People familiar with the big banks’ bonus schedules have provided an outline of when each bank is expected to announce bonuses. While most of us experience a mix of excitement and apprehension in the weeks approaching Christmas, for bankers the feeling comes a month later. 2017 is officially in the books, and Wall Street is headed toward its favorite time of the year: bonus season. Yes, bankers typically make healthy, six-figure base salaries, but the annual bonus is where the best on Wall Street really get rich. Not everyone is sharing the same level of enthusiasm and seasonal spirit, however. Some parts of Wall Street are looking at much fatter paydays than others. Traders had a rough year in 2017, while investment bankers are looking at a rebound in compensation after a strong performance this past year. The announcements are expected to … [Read more...] about It’s bonus season on Wall Street — here’s when each of the big banks is announcing how much people will get paid