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Rich Cut Back on Payments to Mistresses #312245
11/25/08 09:43 AM
11/25/08 09:43 AM
Joined: Oct 1999
Posts: 81,924
oregon, spr
Marty Offline OP

Marty  Offline OP
You know times are tough when the rich start cutting costs on their mistresses.

According to a new survey by Prince & Assoc., more than 80% of
multimillionaires who had extra-marital lovers planned to cut back on
their gifts and allowances. Still, only 12% of the multimillionaire
cheaters said they plan to give up on their lovers altogether for
financial reasons.

"Rich people are getting hit, and they're all expressing the need to
curtail unnecessary spending," said Russ Alan Prince, president of
Prince & Assoc., a wealth-research firm based in Connecticut. "Lovers
are part of the same calculation."

Of course, any study of millionaires and their mistresses should be
taken with a large grain of salt. The survey–a subset of a larger
wealth study–polled 191 individuals with a minimum net worth of $20
million who said they had lovers of at least a year or more (this to
screen out the one-night stands, etc.). About two thirds of the
respondents were men and one third women. All were married and all had
personal control over their finances, meaning the women and men
surveyed were the primary wealth holders in their homes.

The most surprising stats in the study relate to gender and what might
be termed "length of service." Fully 82% of men in the study said they
planned to lower the allowances to their mistresses, while more than
three quarters planned to provide fewer gifts, less expensive gifts
and fewer perks, like jet rides, resort vacations and top restaurant

Women were far more generous to their paramours in the face of
financial crises. Less than 20% planned to lower allowances, gifts and
perks, while more than half planned to raise them.

Susan Shapiro Barash, who teaches gender studies at Marymount
Manhattan College and wrote "Little White Lies, Deep Dark Secrets,"
about why women lie, said women value their lovers more than men in a
time of economic trouble. "For the women, lovers matter more than ever
now because the rest of life is so dreary," she said. "For the men,
they're just cutting across the board."

Ms. Barash added that women may value their lovers more today because
their husbands are so miserable. "If your husband lost his job on Wall
Street and he's miserable, you need the escape," she says.

The duration of the relationship also seems to play a role in the
economics of high-end cavorting. The study found that more than two
thirds of the millionaires who had been with their lovers for three or
more years planned to cut back. That compares with less than half for
those with a tenure of one to three years.

"What we found in talking to the respondents is that the magic of the
relationship with their lover fades after a while, so they're more
willing to let them go," Mr. Prince says.

The survey doesn't mean to suggest that all, most or even a large
minority of rich men and women have affairs. It simply is a snapshot
of a certain sample at a certain time. Yet it suggests that in a time
of financial crisis, it is better to be a kept man than a compensated

UPDATE: Since so many readers asked about the survey's methodology, I
called Russ Prince to get the specifics. The mistress questions were
added to the end of a much larger survey on wealth and wealth
management polling a control group of 518 people. Of the 518 people
surveyed as part of the broader study, 191 opted to answer the
mistress question. The 518 respondents were all private jet owners —
since this was done in conjunction with a private-jet-related business
— and all the respondents were paid for their time.

Re: Rich Cut Back on Payments to Mistresses [Re: Marty] #312279
11/25/08 11:34 AM
11/25/08 11:34 AM
Joined: Nov 2001
Posts: 431
Sandshaker Offline
Sandshaker  Offline
AWWWWWWWW.....poor babies. LOL, geeezzzz!

Re: Rich Cut Back on Payments to Mistresses [Re: Sandshaker] #312309
11/25/08 01:56 PM
11/25/08 01:56 PM
Joined: Jun 2006
Posts: 2,200
divingcowgirl Offline
divingcowgirl  Offline
Well darn, there goes my Christmas bonus... laugh JK....
ROFLMAO at this story though.......

Take the road less traveled
Re: Rich Cut Back on Payments to Mistresses [Re: divingcowgirl] #312329
11/25/08 03:15 PM
11/25/08 03:15 PM
Joined: Aug 2007
Posts: 3,157
pugwash Offline

pugwash  Offline
I have reworked my budget and will just be buying myself velvet gloves this year wink

It's rarely rocket science, it's usually just math: then again if you can't do the math.......
Re: Rich Cut Back on Payments to Mistresses [Re: pugwash] #312333
11/25/08 03:18 PM
11/25/08 03:18 PM
Joined: Dec 2006
Posts: 13,575
San Pedro Belize
elbert Offline
elbert  Offline
You can even save more on rubber gloves their multipurpose.

White Sands Dive Shop
Re: Rich Cut Back on Payments to Mistresses [Re: elbert] #312337
11/25/08 03:36 PM
11/25/08 03:36 PM
Joined: Aug 2007
Posts: 3,157
pugwash Offline

pugwash  Offline
When a gal tells me she likes the feel of latex against her skin I get kind of excited, but you Elbert....not so much smile

It's rarely rocket science, it's usually just math: then again if you can't do the math.......
Re: Rich Cut Back on Payments to Mistresses [Re: pugwash] #312342
11/25/08 03:56 PM
11/25/08 03:56 PM
Joined: Nov 2004
Posts: 1,748
shuffles Offline
shuffles  Offline
"— and all the respondents were paid for their time."

Sounds like they should have paid the mistresses instead!

Change your Latitude
Re: Rich Cut Back on Payments to Mistresses [Re: shuffles] #312367
11/25/08 06:51 PM
11/25/08 06:51 PM
Joined: Oct 2007
Posts: 225
North Dakota
Shopgirl Offline
Shopgirl  Offline
In the spirit of the season I have decided to still give bonuses! wink

And just for the record, no one paid me for 'my' time. laugh

"All people smile in the same language"
Re: Rich Cut Back on Payments to Mistresses [Re: Shopgirl] #312370
11/25/08 07:04 PM
11/25/08 07:04 PM
Joined: Feb 2003
Posts: 4,001
New Jersey/sanpedro
captjeff Offline
captjeff  Offline

Living The Dream Every Day!
Re: Rich Cut Back on Payments to Mistresses [Re: captjeff] #312373
11/25/08 07:12 PM
11/25/08 07:12 PM
Joined: Sep 2002
Posts: 10,850
Beautiful San Marcos, Texas
Ernie B Offline
Ernie B  Offline
Yeah, right

Last edited by Ernie B; 11/25/08 07:13 PM.

Gun Control is Hitting Your Target.

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