What this suffix does
-heeled forms compound adjectives that use the heel — the lowest, most worn part of a shoe — as a metaphor for social and financial standing. Well-heeled, down-at-heel, high-heeled, kitten-heeled, spike-heeled — each compound uses the condition or type of heel to signal something about the person wearing the shoe. "Well-heeled" is one of the most useful social class descriptors in English: it means wealthy and comfortably established, with the implication that someone who can afford good heels on their shoes is doing well financially. "Down-at-heel" means the opposite: shabby and reduced in circumstances.