Downgrading Your Lifestyle
So you made a lot of money on Wall Street during the boom years, and you still have a lot of money despite the economic crisis. Good for you. But you may not want to be too conspicuous about your good fortune. Lots of your friends, colleagues, and neighbors haven't been so lucky. And you don't want everyone to hate you, do you? (If they don't hate you already, that is.) Fortunately, Bloomberg News comes to the rescue with some advice on how to tone down your outrageous lifestyle to fit with these somber times. It's all about "stealth wealth," you see: You still get to be filthy rich, it's just that you don't advertise it any more!
Clearly, living in a big mansion is not a good idea. (A Colonial is a better choice.) And keep your orange Lamborghini tucked away in the garage. Rely on "your navy blue BMW instead," says Milton Pedraza, the CEO of the Luxury Institute. Partial to multicolored shirts with French cuffs and bejeweled cuff links? Think more "sedate." And avoid clothing with luxury logos, if possible. (If you don't have any logo-less clothing in your closet, stick to items that are "logo-subdued," says Pedraza.) Finally, if you're a man and you have been mulling gender reassignment surgery, go for it. According to Pedraza, since it's mostly men who screwed up the economy, the entire gender has "lost a lot of credibility." Pedraza's conclusion: Men are "out" and women are "in."
Avoid Lamborghinis, Loud Logos Amid Financial Blues [Bloomberg]