Is wealth what you have today or what you’ll have next year?
Evidence suggests the former, particularly when interest rates are low. More than what you own in cash, property (heading for a bubble) or gold, (in a dip) what you love often gives the best value.
‘Passion assets’ ranging from classic cars to fine wine are providing a steady return for many investors.
In the past five years, cars, coins and jewels have returned 161 percent, 92 percent and 65 percent respectively, eclipsing Britain’s FTSE-100 stock indexup 15 per cent since the start of 2011.
And, according to the wine industry´s leading benchmark Liv-ex, fine wine is up 11.45 percent this year compared with 10.23 percent for the FTSE 100. Check this cracking infographic out
Passion is also in fashion for High Net Worth Individuals in emerging markets. Last year, many of the world’s top 200 art collectors came from China and Brazil. From Chinese artefacts to post Brexit British real-estate, Asian investors are snapping up what they can physically own.
By contrast, August interest rates in the UK were at a record low of 0.25% and Australia’s central bank cut its cash rate to 1.5%. Winter is coming too.
But all is not lost. This week we upgraded our Personal Financial Management white-label software to enable customers to see what they own in assets alongside what they have in cash and what they owe in liabilities. This new feature completes the automatic account aggregation capability already available in the solution, allowing users to automatically retrieve their financial account balance and transactions.
And here's what the media's had to say....
Most banks have online pension planners. Input your assets, liabilities and age (in my case 25) into a budgeting tool and learn...
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