Those with more money have more of it to lose, so the repercussions of bad investment decisions amplify.
But they typically have access to far better financial help: the best private banks now share with ultra-high net-worth clients the kind of elite in-house wealth advice that was once divulged only to prized global institutions.
So, if something worries the rich enough to keep them awake at night, it should make you sweat too.
Few in the West have spent much time thinking about inflation since the early 1980s – the last time it was in double digits in the United States.
Inflation isn’t fun, but it can be fixed, while there are no known cures to the chronic break-up of a family unit
Is it back? The rich think so. Speaking to Euromoney, the head of one of the world’s largest multi-family offices said it was “becoming the big issue of the day” for his customers, most of whom are, at the bare minimum, dollar multi-millionaires.
An adviser to the super-wealthy recently polled several hundred of his clients, who have an average net worth of $1.4 billion.