Rich Americans: Money Is Better than Love

Rich Americans: Money Is Better than Love

It may sound a bit cold, but it’s pretty old-fashioned wisdom.

A recent survey of affluent Americans showed than when choosing a mate, money trumps knee-quaking love. Bank of America Corporation’s Merrill Edge surveyed 1,000 wealthy respondents and found that 63% of them prefer a career-focused individual over a ‘soul mate’ as a life partner.

More precisely, 56% of respondents said that prospects for financial security were more vital than romantic love in forming a union. Merrill Edge’s chief made things perfectly clear: “How do you keep the love of your life if you can’t pay for a vacation?” It may not sound romantic, but is certainly resembles the straight dope. Hand-holding will only get you so far in life.

While survey participants said that a prospective spouse’s financial wellbeing is important and demands close scrutiny, they tend to keep information about their own finances close to the vest. Hiding the very information they perceive as vital to forming a successful domestic union is perhaps curious, but obviously a deeply ingrained characteristic among wealthy individuals.

The survey uncovered a few other interesting facts. Wealthy people on average are ready to save or invest $18,000 per year, more than they’re prepared to spend on a mortgage, education for their children or travel. At the same time, they tend to set no clear goals, like building a family or business, for their investment activity. Finally, a strong majority clearly trust digital channels for financial advisory services: around 75% say that within five years, they expect to receive most of their investment advice online.

For more information, please read:
Affluent Americans Rank Money Higher Than Love When Coupling Up | Wealth Management

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