RICH

LOADED

LUXURY

WEALTH

When you hear these words, generally one other comes to mind as well…

MONEY.

In some circles it’s called CASH, CHEDDAR, DEAD PRESIDENTS, COINS and the list goes on. There is definitely no shortage of phrases that are linked to the almighty dollar.

If you’re anything like me, you have wondered on occasion just what life would be like with access to billions of dollars. A new house, a new car, extravagant vacations… The list, at least mine does, goes on forever. While I am certain that I would bask in some luxuries, provide for my family and loved ones and make charitable donations, I don’t believe I’d be reckless with my spending.

Take a look at lottery winners, for example: According to a 2010 study by researchers at Vanderbilt University, the University of Kentucky and the University of Pittsburgh, the more money you win in the lottery, the more likely you are to end up bankrupt. The authors of the study divided past lottery winners into two separate groups: Those who had won cash prizes between $50,000 and $150,000, and those who had won $10,000 or less. What they found is that those who had won the more sizable sums were more likely to have filed for bankruptcy five years later. Similar research from the National Endowment for Financial Education estimates that 70 percent of people who had unexpectedly come into large sums of money ended up broke within seven years.

Unfortunately, for every reckless spender, there is some ridiculously priced product. Of course, we all need a gold backpack, valued at $1,650.00, right? Wait, let’s not forget the Louis Vuitton Skateboard, valued at a measly $8,250. Do you think I’m making this up? If so, think again. Just for you, a list of 24 of The Most Ridiculously Expensive Everyday Items.

If you’re into being pampered, love spa appointments, etc., how much would you be willing to spend on the world’s most luxurious beauty products? Take a look at a $14 Million Mascara and 11 Other Crazy, Extravagant Beauty Products.

Exactly who doesn’t enjoy an appetizing  meal? Personally, I prefer a good homemade one. However let’s say for argument’s sake, money was no object, and we had an insatiable desire for  a bottle of red wine. Well, there’s a bottle waiting for us with a price tag of only $18,850. Yes, you read (no pun intended) correctly. Since we’ve decided that money is no object for the moment, let’s hit the town and see what’s being served at The 10 Most Expensive Restaurants in The World.

Wait, why stop there?

• The most expensive car ever auctioned  to date was a 1962 Ferrari 250 GTO, which sold for $34.65 million this past summer.
• Earlier this year a new residential sales record was set when hedge fund tycoon Barry Rosenstein shelled out $147 million for an East Hampton spread. But that price — the highest ever paid for a home in the United States –is chump change compared to what some owners around the globe are currently seeking for their trophy properties.
• Costing $83,200 a night, the Royal Penthouse Suite at the Hotel President Wilson in Geneva, Switzerland is the most expensive hotel room in the world. The 12-bedroom suite has hosted a distinguished guest list, including Bill Gates and Michael Douglas. Apparently, some famous musicians have found inspiration in the panoramic views of Lake Geneva and the Swiss Alps.
• The Eclipse, the most expensive yacht is worth $1 billion.The Russian oligarch Roman Abramovich purchased the 536-foot-long yacht in 2010 when it still held the title for world’s largest yacht. The Eclipse has two helipads, a disco, cinema, hair salon, and restaurant, plus it’s rumored to have a laser defense system against paparazzi trying to photograph high-profile guests.
• If you simply like toys, EXPENSIVE ones, you must check out The Kings Toys!

Clearly, it’s all about supply and demand. You desire it; someone will deliver it to you on a silver platter. Money talks, albeit the root of evil, some people say. Recently a man having a business dinner with colleagues at The Borgata Hotel in Atlantic City, learned the hard way how money and expensive things can bring on the worst case of agita. Apparently he asked the waitress if she could recommend a decent bottle of wine because he was inexperienced in this area of fine dining. The waitress pointed to a bottle on the menu. He claims he didn’t have his glasses on and asked her how much and she said, ‘Thirty-seven fifty.” “Well, that thirty- seven fifty, turned out to be $3,750. Although he disputed the charge when the bill was presented, the restaurant’s manager was only willing to reduce the charge to $2,200. Ouch! Was he bamboozled, or was he negligent for not getting confirmation of the true cost? You decide. I guarantee you next time, he’ll know just a tad bit more about wine, or ensure that his glasses are being worn. Another case of more money, more problems.

Actor Will Smith captures for me society’s obsession with wealth and what some people will do to pretend that they possess it: “Too many people spend money that they haven’t earned, to buy things that they don’t need, to impress people they don’t like.”

I’m not obsessed with wealth, but I’m not opposed to living comfortably either. Let a few billion come my way, and I’ll show you just how little I care about what others have to say. Impressing others would be the least of my concerns at that moment.  “What other people think of me is none of my business”- another of my favorite quotes.

If you are fortunate enough to come upon a large sum of money, that is certainly NOT the time to have your first encounter with  money management skills.

DID YOU KNOW?

The proportion of workers ages 25 and over who have saved for retirement has fallen from 78 percent to 66 percent over the past 12 years, according to The Employee Benefit Research Institute, a nonpartisan think tank.

The number of retiree households with debt has increased sharply: In 1989 one in five families with a head of household age 65 to 74 had mortgage debt; by 2010 that number had reached 40.5 percent, according to an AARP study.

Five years into the financial recovery, Prudential’s 2014-2015 Research Study, “Financial Experience & Behaviors Among Women,” reveals that while women are taking control of household finances, they are no more prepared to meet long-term financial goals than they were a decade ago.

Suze Orman has laid out a financial plan for all ages –The Best Financial Moves for Your 20s, 30s, 40s, 50s, 60s and Beyond.

Based on this data, it appears as though many of us, self included would benefit from some improvements in the area of personal finances.

Truthfully, a house on the beach, a great retirement plan, good medical insurance, a monthly spa allowance and a car that gets me from here to there is all I’d really need in my later years. At least that’s the extent of my list in 2014.   I promise you this though; should  a windfall come my way in the future, there’d be no Carbon Fiber Toilet Seat – $249, no $100 tubes of toothpaste and no Crocodile Skin Umbrella – $50,000.

However, that Undersea Restaurant in Maldives…. Located 5 meters (about 16.5 feet) below the surface and has 180-degree views of the vibrant coral gardens….

You must agree, now THAT’S worthy of a splurge! Right? You do agree, do you not? C’mon, what’s $320 per person for dinner?

Pardon me while I put a straight- jacket on my alter ego, the dreamer, who sometimes goes rogue. She’s responsible for that previous comment, and she would definitely not be left alone with the Black Card. Ever!

On that note, I recommend that when it comes to finances that you heed the following – Yesterday is a cancelled check, tomorrow is a promissory note and today is the only cash you have – so spend it wisely.

I must say that while gathering data for this post, I repeatedly came across some guy named George Brown. Tons of articles about how he has made so much money, largely from the comfort of his home. I did some research and several websites claim he’s the real deal. Here he is pictured with filthy rich Sir Richard Branson. You know, the billionaire CEO of the Virgin Group who has a net worth of $5 billion. Well, we’re all adults here, so feel free to take a look and decide for yourself!

Click Here!

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In any event, thanks for joining in on these “What would you do?” moments, as we explored the 50 Most Expensive Things In The World.

If nothing more, hopefully it triggered some thoughts about where you are in your life financially. Are you content with your current state, or are you sitting on a wealth of unattended possibilities?

Without a doubt, money can’t buy happiness and sadly, there are far too many people in the world who assume that it can. However, most of us do wander off into the “what if” zone, more often than we may be willing to admit- and that’s OK.  It’s called being human.

Seriously though, if a few million came your way today, what would be the first thing that you would do, after getting a new phone number, hiring a financial advisor and going into the newly-rich protection program?

I’m looking forward to hearing back from you!