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The Global Wealth and Lifestyle Report 2021 - YouTube
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cities are changing the cost of living
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continues to rise
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it's getting more and more expensive to
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live well
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our global wealth and lifestyle report
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highlights trends that
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impact you and your purchasing power
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most likely you live an international
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lifestyle so find out how lifestyles and
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regions
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are changing and what you can do to best
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manage and preserve your wealth
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since 2014 julius bear's asia lifestyle
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index
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has tracked the cost of living for
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wealthy individuals
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in the world's fastest growing region
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asia
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now for the second year running we've
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compiled
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a global edition which looks at high-end
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lifestyle trends
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across 25 major cities the collapse of
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global tourism
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in 2020 impacted this year's index
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in asia bangkok and singapore both
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slipped down the rankings
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while the dearth of travelers also hit
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many european cities
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asia pacific remains the priciest region
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to live
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given the region's swift recovery from
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the global health crisis
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its currency stability and price
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resilience for the index items
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the americas are now the most affordable
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region
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with two of the three least expensive
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cities in our index
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mexico city and vancouver due to a
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weakening of local currencies
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shanghai is now the world's most
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expensive city
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stealing the spotlight from hong kong
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meanwhile the best price
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place for luxury is johannesburg
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our index also provides insights into
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other important trends such as conscious
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consumption
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experiential luxury food fashion and
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travel
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how would you feel about throwing away
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your laptop
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in 2019 the average airline passenger
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left behind three pounds of waste from
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each flight
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that's roughly equivalent to your
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laptop's weight
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that statistic surprised and concerned
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you right
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this fits with what our report also
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revealed about the continuing growing
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importance of conscious consumption
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nowadays we care about the health of the
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world around us
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and our own well-being we all want to
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know where our food comes from
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how to move from fast fashion to slow
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fashion
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and what are more environmentally
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friendly transport options
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and we're willing to spend more much
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more
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so you should pay attention to the
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factors that affect your purchasing
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power
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and your wealth in real terms take the
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u.s
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for example if we look at the past 40
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years
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inflation was less than three percent
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annual on average for the normal
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consumer
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while for the wealthy it was almost five
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percent
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the compounding of these price increases
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shows you the erosion
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of purchasing power if you held
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all your money in cash over the last 40
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years
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your purchasing power would have been
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cut in half
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every 23 years on average for the
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wealthy
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this only took 13 years in other words
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the 100 that bought you your luxury
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basket
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in 1982 would only buy you a tenth of
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that today
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therefore prepare by having an active
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investment management strategy to fight
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against this real inflation
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make sure your asset allocation is in
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line with your risk profile
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cash should not be your default asset
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allocation
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stay invested when you understand what
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affects your purchasing power
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you can deploy the right wealth
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management strategies to maintain your
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current lifestyle
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what about for the future did you know
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that the most money is lost when you
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transfer
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it from one generation to the next find
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out how you can protect your wealth for
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generations to come
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nowadays families are international with
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business interests in multiple countries
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loved ones scattered worldwide and often
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with very complex family constellations
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there are three strategies to preserve
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your wealth over generations
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firstly structure your wealth well
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have an overview of all the assets cash
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portfolios with the banks
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incentive plans real estate
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participations in businesses as well as
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art
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and other collectibles and not only
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those owned by the principal of the
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family but also by the spouse
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be clear on who actually owns the assets
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and who can exercise powers over them
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and who and how fast somebody can take
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over in case of an emergency
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secondly align the family if the family
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stays together
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so we'll well encourage an open dialogue
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have the difficult discussions
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be open to different views and values
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especially those of the other
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generations
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depending on the individual needs
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develop a family governance framework
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with family charters and councils or
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even put the wealth education program in
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place
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thirdly have a clear succession strategy
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in place
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start early it's going to take time to
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have all the necessary discussions
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and to develop a long-term plan make
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sure the formal requirements are taken
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care of
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and the right people are appointed to
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implement
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your wishes and plans to get all these
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in place
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you might want to share views with other
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families and their experiences
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or discuss it with an advisor in these
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fields
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our global wealth and lifestyle report
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is a great resource to pinpoint the
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changes that will impact your wealth
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today
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pay attention to what's happening in
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your city or your region
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protect your wealth and your lifestyle
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visit our website and download the
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report
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you
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