Global Financial Crisis Ending
It seems like the global financial crisis is coming to an end finally. The count of millionaires is increasing once more. According to the World Wealth Report, levels last year increased by 8.3 percent to 10.9m and America seems to home to a lot of these, ranking one percent of the population. According to the study by Merrill Lynch Global Wealth Management, female millionaires have gone up from 24 percent to 27 percent in the last three years. It was a good idea the way investors behaved, by “moving away from cash holdings and deposits into riskier equities.” According to head of US Wealth management for Merrill Lynch Global Wealth Management, John Thiel, this really “paid off.” As well, confidence in the market has really “picked up” during this time frame.
Good Times Ahead
The study interviewed 23 brokerages around the world. They “predicted that interest in equities would continue to rise while reliance on real estate to build wealth would fall.” In terms of placement, more than half of the world’s millionaires are living in America, Japan and Germany. There have of course been events such as the Japanese earthquake which have had an impact on people’s wealth and the worldwide financial crisis but in a sense this has helped the growth of this one specific (very wealthy) group. Indeed, for those who are really rich – the ultra-high-net-worth individuals (those netting more than $30m), their growth escalation was more than 10.2 percent.