Rich Feel 'Guilty' Spending Now: Poll

By Harry Kimball,  Newser Staff
Posted Apr 30, 2009 3:18 PM CDT
Rich Feel 'Guilty' Spending Now: Poll
A man poses with shoes at the Millionaire Fair in Munich last year.   (AP Photo)

Even the still-rich are unhappy in this economic climate, though their dolor is more likely to come from shame than anything else, USA Today reports. 54% of people who have $100,000 to spend after such mundane things like mortgage payments and taxes “feel guilty purchasing luxury goods” nowadays, according to a survey. But it’s not just because of the disapproving glares of the masses.

In fact, 53% of the well-off actually fear they will run out of money. The group makes up only 10% of households, but is responsible for more than half of retail sales. In advice that still assumes a certain remove from the average Joe, an adman suggested luxury retailers market products with words the affluent “can use at a dinner party to justify their purchase.” Like, say, “vintage.” (More wealthy stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.