Gain insight into the psychology of wealth
How do Europeans feel about their wealth? We asked 595 high net worth individuals to delve into the psychology of wealth in 2024. Our report reveals fascinating differences between generations and polarised opinions on important issues.
What will you learn from this report?
The psychology of wealth is expected to change in the wake of the "great wealth transfer," which is likely to lead to more multi-generational millionaires and shifts in mindsets.
Read the report to learn more:
How millionaires assess the prospects for their wealth
Whether wealthy individuals are planning for the future
What three things do people value most about their wealth?
National nuances in culture, trust and caution
Download your report
Multigenerational millionaires value the meaning of life.
Investing puts your capital at risk. Lending is subject to status.
Research
Research was conducted by Ipsos UK on behalf of Brown Shipley’s parent company Quintet and BlackRock between 19th August and 27th September 2024. An online self-completion survey conducted in four countries, with a total of 595 adults aged 30 plus completing the survey: 165 in the UK, 147 in Germany, 169 in the Netherlands and 114 in Belgium. Quota sampling was applied, and respondents were required to have at least £1 million (UK) / €1 million (DE, NL, BE) in liquid/investable assets. Data has not been weighted and is not nationally representative of any market to the known adult population on any demographics.
More details can be found here
- The subject of the survey is the behaviours, perceptions and intentions related to asset management. Specifically, the research focused on uncovering: (i) wealth background and attitudes towards wealth, including goals for the future (ii) plans for passing on wealth to the next generation and expectations for the next generation (iii) retirement plans of those who are not yet retired.
- The survey was an online self-completion survey conducted in four countries, with a total of 595 adults aged 30 and over participating in the survey: 165 in the United Kingdom, 147 in Germany, 169 in the Netherlands and 114 in Belgium. A quota sample was drawn and respondents who chose to participate in the survey had to have liquid/investable assets of at least £1 million (UK) or €1 million (DE, NL, BE) and are referred to in this report as 'high net worth persons' (HNW). The data has not been weighted and is not nationally representative of the known adult population in terms of all demographics.
- In this report, the figures are presented at an aggregated level for all markets. These figures are a direct average across all countries studied, with no weighting by country. Differences between countries and groups of interest are based on two-page significance tests with a confidence level of 95%.
Definition:
- Adults referred to as coming from ‘generational wealth’ are defined as those who selected ‘I come from a family, going back at least one generation, that has been successful in creating, preserving and/or growing wealth’ when asked which answer option best describes
their wealth background. Adults who are referred to as ‘first-generation wealthy’ have been defined as those who selected: ‘I am the first-generation in my family to have created wealth’ in the same question
- Adults who wish to bequeath their assets to their children/heirs are defined as those who enter one of the following codes in response to the question "NG1. When you think about your future plans, what do you plan to do with your assets, if anything? NET of "Give to children and/or relatives before I die" + "Leave as an inheritance" + "Make sure my children are financially well off without spoiling them" + "Improve the reputation of our family name".