Acronyms you never knew about

HNWI- high net worth individuals. Defined as those with assets in excess of 1million, not including primary residence.

Ultra HNWI – Ultra high net worth individuals. 30million +

CLWEI – the Cost of Living Extremely Well Index

Well, this being Christmas time, I thought I would spare a thought for those whom the media routinely ignores in favour of refugees, the poverty stricken, victims of natural or man made disasters, the war. I am of course, speaking about the HNWI. The High Net Worth Individuals.
According to the World Weath Report (well worth a read) by Capgemini, US HNWI growth slowed, and despite “Strong real GDP growth and robust corporate
profits were offset by a string of interest rate hikes by the Federal Reserve and the post-hurricane devastation in the Gulf Coast
states. HNWIs felt the sting. ”

Mon Dieu, and here I was mislead that the real story was homeless African Americans, but no, the rich also suffered. But all is not doom and gloom for our poor millionaires. On page 9 of the WWR, Capgemini reports that the costs of Living Extremely Well is becoming more affordable, as measured by the difference in growth of cost of the stuff that ordinary people buy and that of the extraordinarily well off. So a silver lining in the diamond studded cloud of our HNWI.

Keeping the christmas spirit alive.

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