Tuesday, May 19, 2009

Millionaires No Longer Feel Wealthy

A new study by Fidelity Investments finds that millionaires don’t feel wealthy anymore, largely because of the global financial crisis.

Full-text blog post by Frank Rich is available via The Wall Street Journal, 5.6.09.

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  16. True — once you have enough, the number on the page stops mattering and the small day-to-day shifts (markets, headlines) start to. The trick I found is stepping away on bad days instead of staring at the portfolio. When stress really piles up, a quick session of drive mad online is my reset — nothing like a few rough roads to put the macro worries in perspective.

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  17. It's a well-known paradox that wealth is relative - even millionaires feel insecure about their finances. I would argue the same applies to businesses today: without clear benchmarks, it is hard to know how you are really performing. We use a platform that is Similar to Orbit Kick for comparing our metrics against industry standards. Thanks for the insightful post.

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  18. Great perspective on how wealth is relative. Lately my kids have been obsessed with a fun Summer Rider racing game they play after homework, and honestly that free entertainment feels richer than money. Thanks for the thought-provoking post!

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  19. Wealth really is relative - once the basics are covered, it's the day-to-day dips that shape how rich you feel. Same goes for the small stuff online: a blurry screenshot can make good content look cheap, and I clean those up with a low quality image maker before sharing. Thanks for the thought-provoking post!

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  20. Wealth really is relative - my! kids feel richest when they find a new free game online. Lately they're hooked on wacky steps and it costs nothing but keeps them busy for hours. Thanks for the thought-provoking post!

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  21. Great post! Feeling wealthy really is about perspective. Whenever I get stressed about numbers, I take a break and play a relaxing Arrows Puzzle game to clear my head. It's amazing how a simple puzzle game resets your mindset. Thanks for the thought-provoking article!

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  22. Great breakdown of the wealth perception gap here. I recently found a fun way to clear my head after reading heavy finance pieces like this - wave rider wave rider has become my go-to unwind ritual. Back to the article though, the point about how relative comparison shapes perceived wealth really resonates.

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  23. This insight into how even millionaires perceive their wealth is fascinating, especially in light of the 2008 financial crisis. It makes you wonder if anyone truly feels secure, or if it's like trying to escape the Granny of financial insecurity – always lurking. The blog post sounds like a must-read for anyone interested in economic psychology.

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