News

The rich are changing their investment habits

  • Категория: News

Well-to-do people used to compete in showing off their luxury belongings. Thorstein Veblen called it “conspicuous consumption”. However, nowadays a new status symbol is investing in education.

Wealthy individuals are changing their spending habits and lifestyles. You would hardly see a celebrity wearing a massive diamond jewelry set or a flashy outfit with a brand name written all over it. Instead, education and health are becoming of greater importance for them. The trend is changing towards financial discretion and modesty. Rich people drive unsightly cars and buy mansions in remote locations in order to get rid of paparazzi and Google Street View shots.

Elizabeth Currid-Halkett has suggested a new term for the trend — inconspicuous consumption. She highlights in a research that over the past decade the wealthy Americans have been spending less on the material goods designed to “signify” status. Compulsory gym membership and a healthy lifestyle are in trend as never before. Meanwhile, the expenditures on education have increased by 860%. Cultural heritage is positioned as a new status symbol and a prerequisite for successful social connections and further prosperity.

One cannot but admit, that the expenditures for education, study, health, or retirement can be skyrocketing and exceed the price for a renowned watch or a sports car in several times. Be as it may, the shift in investment habits has an influence on the middle class. Masses are likely to embrace new values of their idols and follow as well a new path of development, which is more spiritual and less material.

Source: businessinsider.com.au

News


# economy #Africa #AI #Amsterdam #Antigua and Barbuda #artificial intelligence #bitcoin #business #business immigration #Canada #car #Caribbean #citizenship #consumption #cryptocurrency #Davos #divorce #Dominica #Dubai #economic immigration #economy #EU #finance #financial tips #France #Golden Visa #hourly work #Hungary #immigration #industry #investment #job #job market #Malaysia #money #news #offshores #permanent residence permit #production #property #rating #ratings #real estate #real estate agency #retirement #Russia #sales #Slovenia #St Kitts and Nevis #startup #stock exchange #tax #taxes #technology #UAE #UK #USA #VAT #work permit #World Economic Forum
If you want, we will call you
tomorrow for sure at:
Contact Us
Яндекс.Метрика