Stop Acting Rich: . . . And Start Living Like a Real Millionaire

Chapter 3. Do the Shoes Make the Man?

	Know first who you are; then adorn yourself accordingly.
	--Euripides

Imagine for a moment that you are a valet, parking cars at an exclusive country club. It is lunchtime, and you have never been so busy. Today there is a luncheon meeting of women in business. As you run back to your station after parking that lovely BMW 5 Series, you notice a stunning woman flash past in a top-of-the-line Jag convertible. You put on a burst of speed and beat out the other attendants to open the door for the lovely Ms. Anna After.

As Anna emerges, you cannot help but notice the fine quality of clothing and accessories she is wearing. You know a lot about the pricey stuff from your days in the stockroom of an exclusive women's clothing store. You estimate that the Chanel suit Anna is wearing cost $3,000. It is her favorite label. She owns more Chanel than any other brand. Then there are her watch and handbag, a Louis Vuitton, the real thing. The watch is a Cartier. What you don't know is that she received this $10,000 timepiece as a gift from her husband in recognition of the couple's business becoming a major success. From the tip of Manolo Blahnik shoes to her perfectly coiffed hair, there is no question but that Anna glitters.

Of course Anna shines. Her hair is perfect. It should be, since her most recent haircut cost $230. Note that only about 1 percent of the millionaire women surveyed spent this much (see Table 3.1). This figure is more than 5 times what ...