Announcing the Affluent Hierarchy Series...
When dealing with an ailment, it is said that knowing is half the battle. When it comes to money matters, many people usually misunderstand their true level of wealth, which typically leads to overspending in various areas and ultimately to financial distress. This series will address the various levels of wealth that are widely accepted within the luxury market as well as which prudent purchases are clearly within their reach. Please understand that this is not a cut and dry process, and we will tread carefully and to the best of our abilities. This series is intended as a roadmap for the affluent, to be used as a tool to truly assess one's financial stability.
The first thing to know about being affluent is of course HOW affluent. The typical benchmark is investable assets, meaning the amount of money you have invested or available. In other words, should you stop making money tomorrow, your investable assets are whatever you can depend on from that point forward. Categories are as follow:
*Mass affluents: Investable assets between $200k and $1 million US (Upscale individuals with substantial earnings but little assets)
*High Net Worth Individuals (HNWI): Investable assets between $1 million and $10 million US.
*Very High Net Worth Individuals (VHNWI): Investable assets between $10 million and $30 million US
*Ultra Hign Net Worth Individuals (UHNWI): Investable assets over $30 million (with the rich getting richer, that segment also includes the super rich with assets over $100 million, Billionaires and Multi-Billionaires)
We will use those levels as the basis of the discussion for our series.
No comments:
Post a Comment