More than half of wealthy millennials plan to move countries to live or work, highlighting a new global world in which mobility is the norm. Almost half of HNWIs under 35 have changed their country of residence in the past ten years, while 64% are making this life change in the next decade.

This proportion drops significantly for baby boomers, where only 27% have relocated and 29% have future plans to do so. Despite having fewer years behind them, more millennials than both their Gen X and baby boomer counterparts have lived abroad.

 

 

 

When HNWs were asked about their motivations to work, the top priority was to ensure financial security for their family.

Female HNWIs were more orientated to this goal as 36% marked this as the most important reason to work, compared to only 27% of males.

This preference for financial stability could be interpreted more generally, as less women plan to relocate in the next ten years (45%) compared to men (58%). HNWs also place significant value on following a passion, as it is in the top three motivators for both genders.

 

 

 

NPG’s Meaning of Life survey demonstrates surprising regional extremes when it comes to saving and spending. Individuals in Scandinavia name savings as their first priority when distributing annual income, with leisure being that to which they apportion the least money. HNWs in France, on the other hand, rank lowest for allotting income to savings, while devoting more of their hard-earned cash to leisure and compulsory expenses.