Lifestyle Liquidation is a term I first saw Robert Frank use this morning in his Wall St Journal article. He gives lots of specifics on the auctions and firesales of homes, vehicles, and collections. Yes, some of this is wealth related, or the loss of wealth related as half of all millionaires have lost 30% of more of their fortunes in this economy. It’s also becoming gauche to flaunt your wealth. Some just feel it’s time for a minimalist lifestyle rather than excessive buying and collecting. It takes time and money to care for everything that you buy! It’s time to simplify – whether it’s a cabin in the mountains or a condo in Costa Rica or taking off for a world cruise in your 40 ft sailboat.
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