WHAT DOES IT MEAN TO BE A GOOD ANCESTOR?
As we continue to attempt to redefine the very meaning of affluence this question poses an alternative aspiration to that very desire to seek financial attributes in isolation. The pandemic has been a time of great flourishment for many wealthy consumers. As one of the most rapid wealth booms in recent history, the top 1% of the US population gained over $6.5 trillion in corporate equities and mutual funds (source: Federal Reserve).
But wealth transfer is about more than money. It is about how people’s legacy is passed onto the next generation. This is particularly vital for today’s affluents. To preserve resources for their own descendants and begin to offset the guilt associated with pertaining wealth, high net-worth consumers are opting for more conscious methods of sustaining their funds – this includes impact investing, value-based investing, sustainable solutions, and philanthropy.
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