Psst…want in on a secret?
Do you want to know what wealthy Americans are spending their money on?
Pretty much anything that makes them feel better and look younger, at least according to a new survey by Luxury Institute that was done in cooperation with skincare brand ReVive.
More than half of wealthy Americans say that the pursuit of better health and a more youthful appearance have prompted them to spend money on an anti-aging regimen. Women are more than twice as likely as men to have engaged in some form of anti-aging routine, the survey showed.
Men and women’s top age-related concerns are memory, eyesight and weight management. Women are substantially more likely than men to be bothered by wrinkles or skin elasticity. Females are also much more likely than men to spend money on their appearance such as coloring their hair, using over-the-counter anti-aging products, paying for skin resurfacing therapies or injectables and/or undergoing cosmetic surgical procedures such as liposuction or a facelift. By contrast, men show more concern about hair loss and are more willing to consider hair transplants.
While all respondents seem to embrace the fact that age is just a number, 58% of respondents identify a youthful appearance as important in achieving professional success, and 68% say that there is more pressure to appear youthful than there was in prior generations. Women are far more likely to feel this pressure than men.
Survey respondents had a median income of $233,000 per year and a median net worth of $1.3 million.