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  • Tom Boyd


October 22, 2013/ Boyd & Nicholas I guess I’m glad that I’m not wealthy (in part.) The rich really are different from the rest of us, scientists have found — they are more apt to commit unethical acts because they are more motivated by greed. People driving expensive cars were more likely than other motorists to cut off drivers and pedestrians at a four-way-stop intersection in the San Francisco Bay Area, UC Berkeley researchers observed. Those findings led to a series of experiments that revealed that people of higher socioeconomic status were also more likely to cheat to win a prize, take candy from children and say they would pocket extra change handed to them in error rather than give it back. I have never paid more than $26,000 for a car. I admit to having drooled over Andy’s Corvette and Jude’s Lexus SC 430 convertible. I don’t think Andy and Jude were rude but perhaps we all would be were we driving a $450,000 Lamborghini. I admit to taking chocolate from babies, grandchildren and anyone silly enough to place chocolate within my reach. A Fidelity Investments study found that 46% of people who had an average of $3.5 million in assets and annual household income of $306,000 did not feel rich. Those who did not feel rich said they would need an average of $5 million to begin feeling wealthy. I am more interested, concerned and hopeful (yes) about the Fidelity study about health care in retirement. In its annual look at medical expenses for retirees, Fidelity Investments said a couple, both 65, retiring in 2013 would probably need $220,000 to cover health-care expenses if the husband lives to 82 and the wife to 85, the average life expectancies. I look forward to continuing to be wealthy in other than money; health, family, friends and work.

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