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Wealth and Affluence

Wealth Gap: Young Vs. Old

by Luke Landes
First Base

The wealth gap is growing, and if the Occupy Wall Street and its satellite protests are any indication, those not within the top one percent of income earners are not happy with their circumstances or the policies that help foster the wealth of those at the top. It’s been called class warfare, but there are […]

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Steve Jobs: The Billionaire Next Door

by Luke Landes
Steve Jobs

Steve Jobs may not have been as wealthy as his arch-nemesis Bill Gates, but after his successes with Apple and Pixar, he was one of the world’s richest men. Forbes recently listed Jobs as 39th on the Forbes 400, a list of the richest people in America, with a net worth of $7 billion. The […]

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When People Get Rich Quickly: Lessons from Michael Vick’s Bankruptcy

by Luke Landes

A typical professional athlete may be a prime example of the situation in which an individual might find himself suddenly wealthy. The idea that a person could consider himself middle class or lower one day and wealthy the next is a recipe for financial disaster. It’s easy to look at athletes because their trials and […]

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Get Rich By Thinking About Being Rich

by Luke Landes

In her new book, Delusions of Gender: How Our Minds, Society, and Neurosexism Create Difference, the author, Cordelia Fine cites studies that show how our lives are affected directly by the labels we give ourselves. I’m not interested in the strictly gender-related aspects of this discussion, at least not for Consumerism Commentary, but I am […]

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Last Year: Return of the Millionaires

by Luke Landes

According to the latest World Wealth Report, a study designed by Merrill Lynch Wealth Management, last year was a good year for high net-worth individuals (HNWIs), people with more than $1 million in investable assets. After a few years of lagging due to the global recession, the number of millionaires worldwide has climbed past the […]

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How Much Money Do You Need to Feel Wealthy?

by Luke Landes

Last week, I wrote about a study that evaluates the most important issues for wealthy people, and a new study released recently, sponsored by Fidelity, also takes a look at the attitudes of the super-rich. If I were to have $1 million in investible assets — the value of what I have available to invest […]

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The Worries and Concerns of the Super Rich

by Luke Landes

A Boston College study recently looked at the community of the “super rich,” defined in this case as households with a net worth above $25 million. The purpose was to determine whether wealth, or more specifically, absolute financial security, resulted in fulfillment. There have been numerous studies on wealth and happiness, and often, the results […]

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When Did I Become a Millionaire?

by Luke Landes

At some point within the past couple of years, I became a millionaire. There was no party, no celebration. In fact, it was clearly a non-event, considering I have no idea when it might have happened. If you’ve been tracking my financial progress monthly with me, you may be a little confused. After all, my […]

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How To Lose $10 Million Fast

by Luke Landes

On Thanksgiving, the New York Times published a story about a man who had a check for $14 million ten years ago — $10 million after taxes — and who now has little to his name (Nick Martin). It’s not the sort of uplifting, family-focused feature article you usually see around the holidays, but people […]

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The Madoff Name Premium

by Luke Landes

On Saturday, an auction in New York featured items once owned by Bernard Madoff. The auction raised over $900,000, beating expectations. Once combined with proceeds from another auction later this week, it’s likely that this money will go to investors who were burned by Madoff’s Ponzi scheme. Here are some of the items that received […]

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