Interestingly; that goes to whether someone is a hedonist or not. Dumping money into personal pleasures would defeat the point of the wealth for many. The idea of bettering themselves is expressed through boosting social status rather than hedonistic pleasure. If you gave the average man on the street more money they'd buy yachts and whatnot because they know that people have yachts generally have a higher social status than people who do not. They don't have a strong concept of wealth independent of status.