{
  "id": 11721808,
  "title": "They are just like us",
  "url": "https://urgent.news/2026/10/03/they-are-just-like-us",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-03T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/10/04/2560708/they-are-just-us"
  },
  "original_language": "en",
  "account": "For years, Elizabeth George wondered why the wealthy appeared to lead radically different lives. As a private banker for two decades, she helped manage accounts for clients with at least a million dollars to open an account, and families with millions in assets. To her surprise, George discovered that the rich were not vastly superior when it came to handling money; they often had the same financial habits, financial products, and investment choices as anyone else. Wealthy people suffered financial anxieties, just like everyone else; they fretted over running out of money, spoiling their children, and making costly mistakes. Social pressure to appear successful, or to keep up with the \"Joneses,\" often took a toll on the wealthy, just as it does on those of us with less disposable income. Contrary to popular belief, money didn't eliminate money troubles but instead magnified them. George also noticed that the wealthy were not immune to the same human traits that define the rest of us. Anxious people grew more anxious when they had more money, while generous individuals tended to give even more, and big spenders kept seeking thrilling experiences that never fully satisfied them. Family disputes over inheritance were just as common among the wealthy as they are in other socioeconomic groups. One of the most striking findings was the extent to which money could reveal or reinforce hidden aspects of people's personalities. George shared stories of couples who built their wealth while living modestly and quietly, as well as families who only found out about significant wealth later in life, which profoundly impacted their decisions and aspirations. For instance, a daughter only learned about her father's $25 million trust when she turned 35, and she chose a modest university and career path as a result. George's research revealed that secrecy around wealth rarely provided long-term solutions and could sometimes create more stress when the truth finally emerged. Furthermore, George observed that true generosity among the wealthy was often driven by genuine values and a sense of responsibility to give back, rather than simply being a formality. Some of her wealthiest clients generously supported causes, institutions, and families that were meaningful to them, even when that generosity involved long-term financial sacrifices. However, George also highlighted the existence of people who appeared wealthy on the surface but actually lacked substantial financial security. Some affluent individuals maintained a lavish lifestyle with little savings, while others engaged in high-profile social circles without having real control over their finances. Many businesses were considered \"house-poor,\" with significant wealth tied up in one luxury property. The key takeaway was that appearances could often be misleading, and the true measure of wealth went beyond the balance in one's bank account. Ultimately, George's findings emphasized that the wealthy, like everyone else, sought the same fundamental things in life: a loving family, security, and meaningful connections with others. Money could influence how one achieved these goals but rarely created them on its own. True character, discipline, and peace of mind were the products of consistent, thoughtful daily choices, regardless of the wealth at one's disposal. In essence, the real measure of wealth lay in how someone chose to use their resources and their alignment with their values and sense of responsibility.",
  "summary": "I’ve often wondered why the rich live so lavishly.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}