wealth

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Wealth

The state of having strong financial resources. There is no strict definition of how much one needs to have in order to be "wealthy," but, in general, it refers to one with significantly more assets than liabilities. However, socially, a person with too much debt may be considered to be wealthy because others are not aware of his/her true financial state. Excess wealth (and wealthy persons) drives economic growth. Some believe this ought to be encouraged, as it eventually makes the remainder of society wealthier. Others, however, believe growth is strongest when the needs of multiple classes, and not just the wealthy, are balanced. A few others believe most wealth ought to be confiscated and redistributed, but this is a minority opinion.

wealth

the total stock of ASSETS owned by the population of a country. Wealth represents past income flows which have been used to buy such assets as houses, land, stocks and shares etc. One commonly used measure of wealth in the UK is that of ‘marketable wealth’, consisting of those assets which are readily saleable. Wealth in the UK, like income, (see DISTRIBUTION OF INCOME), is unevenly distributed (see Fig. 89). See WEALTH TAX.
Wealthclick for a larger image
Fig. 197 Wealth. The distribution of marketable wealth in the UK, 2002. The total includes land and dwellings (net of mortgage debt), stocks and shares, bank and building society deposits and other financial assets but excludes life assurance and pensions. Source: Social Trends, 2004.

wealth

the stock of net ASSETS owned by individuals or households. In aggregate terms, one widely used measure of the nation's total stock of wealth is that of ‘marketable wealth’, that is, physical and financial assets that are in the main relatively liquid. In 2002, marketable wealth in the UK totalled around £3,400 billion (this excludes life assurance and pension entitlements, which account for some one-third of all wealth assets but which are not readily liquid). Marketable wealth is not equally distributed in the UK, as Fig. 197 shows. In 2002, the richest 5% of the population owned 43% of marketable wealth.
References in periodicals archive ?
Dugow's ability to tap the affluent market gave him the advantage over traditional healthcare advertising agencies.
However, Feuer and Chick disputed the characterization of the issue as one pitting an affluent Valley against the rest of the city.
If universal entitlements are now failing the elderly poor-and they certainly are-in the future such programs will become even less effective in reducing poverty among the elderly, unless we find the moral and political courage to aim benefits, in one way or another, away from the affluent and to the needy.
3% respectively, the total liquid assets held by affluent individuals in Western Europe are showing a slight decline, at -0.
In 2012, the US had the largest mass affluent population of 75.
The report found that more than one-third of affluent investors now consider using an independent adviser, such as a registered investment adviser or a certified financial planner, Cochran said.
Even after adjusting for other factors such as age of the patients studied and where the tumor occurred on their bodies, ``the more affluent the group, the better the survival,'' the study concluded.
Telephone interviews of 801 affluent Americans between the ages of 25 and 75, conducted in August and September 2011 by Harris Interactive on behalf of Wells Fargo Retirement, found:
Additionally, affluent Canadian investors have been more proactive in reaching out for advice in these hard economic times: over 30% have contacted their financial advisor for advice, versus only about 20% of affluent U.
However, the group found that only 14 percent of the country's low-income high school students have access to computers at home, compared with 82 percent in affluent homes.
This study is the third in a series of recent studies by Synergistics examining the mass affluent market.
Even in light of changing spending habits, Golden says the recent problems in the housing market only serve to indicate that affluent homeowners are a more desirable target than ever.