What would it be like to be ultra-wealthy? Would it mean homes in Hawaii and Paris? Do you envision sailing a luxury yacht across the Mediterranean? What about chartering a trip to space? While it\u2019s fun to imagine, this isn\u2019t the reality for most of us.<\/p>\n\n\n\n
You might have heard the term \u201cUltra High Net Worth\u201d (UHNW) before. It\u2019s a term for those who have north of $30 million in net worth. There are currently 142,990 UHNW individuals in North America1<\/sup> out of 369 million in total2<\/sup>. That\u2019s less than one-tenth of 1% (.03% to be exact).<\/p>\n\n\n\n There simply aren\u2019t that many people flying private, sitting front row at sporting events, or buying private islands\u2026contrary to what we see on TV or in social media. So why do we sometimes feel the desire for more, even though we\u2019re doing just fine financially? You\u2019ve probably heard that additional wealth does not equate to increased happiness. It\u2019s so true, but we can all use a reminder from time to time. The same holds true for habits that help us practice contentment. Here are a few to get you started: <\/p>\n\n\n\n As we navigate our financial journeys, it’s vital to remember that the true essence of wealth lies in well-being, not in the endless accumulation of money. The moments of connection, the pursuit of passions, and the acts of generosity are what truly enrich our lives. By finding contentment in what we have and who we are, we can escape the neverending pursuit of money and embrace a life filled with genuine happiness and fulfillment.<\/p>\n\n\n\n Sources:<\/p>\n\n\n\n 1<\/sup> Imberg, Maya, et al. “World Ultra Wealth Report 2023.” Altrata.Com<\/em>, 1 Sept. 2023, info.altrata.com\/world-ultra-wealth-report-2023-pdf. Accessed 1 Feb. 2024.<\/p>\n\n\n\n 2<\/sup> “Population of North America.” Theworldcounts.Com<\/em>, www.theworldcounts.com\/populations\/continents\/north-america. Accessed 1 Feb. 2024.<\/p>\n","protected":false},"excerpt":{"rendered":" What would it be like to be ultra-wealthy? Would it mean homes in Hawaii and Paris? Do you envision sailing a luxury yacht across the Mediterranean? What about chartering a trip to space? While it\u2019s fun to imagine, this isn\u2019t the reality for most of us. You might have heard the term \u201cUltra High Net […]<\/p>\n","protected":false},"author":3,"featured_media":4018,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"post_statement":"","post_description":"","post_cta":"","post_button":"Read More","post_button_url":"","footnotes":"","compliance_id":"","post_disclaimer":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n
The mindset of accumulating wealth is deeply ingrained in most of our psyches. It\u2019s important in the sense that we all have goals and want to retire comfortably, but it can be dangerous in its extremes. Let\u2019s take a moment to understand some of the psychology behind why this happens:
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