Conspicuous consumption is the spending of money on and the acquiring of luxury goods and services to publicly display economic power—of the income or of the accumulated wealth of the buyer. To the conspicuous consumer, such a public display of discretionary economic power is a means of either attaining or maintaining a given social status.
Citigroup Inc. or Citi is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002. Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries.
Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. When planning personal finances, the individual would consider the suitability to his or her needs of a range of banking products or investment private equity, and insurance products or participation and monitoring of and- or employer-sponsored retirement plans, social security benefits, and income tax management.
A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency. It can also be a person who owns one million units of currency in a bank account or savings account. Depending on the currency, a certain level of prestige is associated with being a millionaire, which makes that amount of wealth a goal for some and almost unattainable for others. In countries that use the short scale number naming system, a billionaire is someone who has at least a thousand times a million dollars, euros or the currency of the given country.
A wealth tax is a levy on the total value of personal assets, including: bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts. Typically liabilities are deducted, hence it is sometimes called a net wealth tax.
Wealth management is an investment-advisory discipline which incorporates financial planning, investment portfolio management and a number of aggregated financial services offered by a complex mix of asset managers, custodial banks, retail banks, financial planners and others. There is no equivalent of a stock exchange to consolidate the allocation of investments and promulgate fund pricing and as such it is considered a fragmented and decentralised industry. High-net-worth individuals (HNWIs), small-business owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate retail banking, estate planning, legal resources, tax professionals and investment management. Wealth managers can have backgrounds as independent Chartered Financial Consultants, Certified Financial Planners or Chartered Financial Analysts, Chartered Strategic Wealth Professionals, Chartered Financial Planners, or any credentialed professional money managers who work to enhance the income, growth and tax-favored treatment of long-term investors.
The Millionaire Next Door: The Surprising Secrets of America's Wealthy (ISBN 0-671-01520-6) is a 1996 book by Thomas J. Stanley and William D. Danko.
The American upper class is a social group within the United States consisting of people who have the highest social rank, primarily due to the use of their wealth to achieve social status. These criteria differ from those of the traditional "upper class" in Britain and Europe which favor landed gentry and aristocracy.
Stifel Financial Corp. is an American multinational independent investment bank and financial services company created under its present name in July 1983 and listed on the New York Stock Exchange on November 24, 1986. Its predecessor company was founded in 1890 as the Altheimer and Rawlings Investment Company and is headquartered in downtown St. Louis, Missouri.
Poverty in Switzerland refers to people who are living in relative poverty in Switzerland.
Wealth inequality in the United States is the unequal distribution of assets among residents of the United States. Wealth includes the values of homes, automobiles, personal valuables, businesses, savings, and investments. The net worth of U.S. households and non-profit organizations was $94.7 trillion in the first quarter of 2017, a record level both in nominal terms and purchasing power parity. If divided equally among 124 million U.S. households, this would be $760,000 per family; however, the bottom 50% of families, representing 62 million American households, average $11,000 net worth. From an international perspective, the difference in US median and mean wealth per adult is over 600%.
Plutonomy is the science of production and distribution of wealth.
Ultra high-net-worth individuals (UHNWI) are defined as having a net worth of at least US$30 million in constant 2018 dollars. It is the wealth segment above very-high-net-worth individuals and high-net-worth-individuals. Although they constitute only 0.003% of the world’s population, they hold 13% of the world's total wealth. By 2017 there were 226,450 individuals designated as UHNWI representing an increase of 3.5% with their combined total wealth increasing to $27 trillion.
This glossary of economics is a list of definitions of terms and concepts used in economics, its sub-disciplines, and related fields.
Citibank International Personal Bank (IPB) Singapore is a business unit of Citibank Singapore that specializes in offshore investment and wealth management products and services to high-net-worth individuals residing outside of Singapore. It has 5 booking centers around the world in London, Jersey, Singapore, Hong Kong and the United States. As of 2018, IPB global had a base of about 260,000 clients and managed assets of more than US$60 billion.
