When High Net Worth Gets Downsized

Sell half a drawerful of Patek Philippes.

Ditch the Gulfstream for a Learjet.

Ask Mom to sell her old bling to raise tuition money for Junior's private kindergarten.

Skip the hair salon and (yuck!) go brunette.

Those are some results of turmoil in New York's lucrative financial industry, according to The New York Times. In other words, It’s Not So Easy Being Less Rich.