Wealth

Wealth is the abundance of valuable resources or valuable material possessions. This includes the core meaning as held in the originating old English word weal, which is from an Indo-European word stem. An individual, community, region or country that possesses an abundance of such possessions or resources to the benefit of the common good is known as wealthy.

The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics yet the meaning of wealth is context-dependent. At the most general level, economists may define wealth as "anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various individuals and in different contexts. Defining wealth can be a normative process with various ethical implications, since often wealth maximization is seen as a goal or is thought to be a normative principle of its own.

James Rickards

James G. Rickards is an American lawyer. He is a regular commentator on finance, and is the author of The New York Times bestseller Currency Wars: The Making of the Next Global Crisis, published in 2011, and The Death of Money: The Coming Collapse of the International Monetary System, published in 2014.

Biography

Rickards graduated from Lower Cape May Regional High School in Cape May, New Jersey, in 1969. He graduated from The Johns Hopkins University in 1973 with a B.A. degree with honors and in 1974, from the Paul H. Nitze School of Advanced International Studies in Washington, D.C. with an M.A. in international economics. He received his Juris Doctor from the University of Pennsylvania Law School and an LL.M in taxation from New York University School of Law.

As general counsel for the hedge fund Long-Term Capital Management (LTCM), he was the principal negotiator in the 1998 bailout of LTCM by the Federal Reserve Bank of New York.

Rickards worked on Wall Street for 35 years. Rickards was the senior managing director for market intelligence at Omnis, Inc., a consulting firm. On March 24, 2009, Rickards presented his view at a symposium at Johns Hopkins, that the U.S. dollar was facing imminent hyperinflation and was vulnerable to attack from foreign governments through the accumulation of gold and the establishment of a new global currency.

Wealth management

Wealth management as an investment-advisory discipline incorporates financial planning, investment portfolio management and a number of aggregated financial services. High-net-worth individuals (HNWIs), small-business owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate retail banking, estate planning, legal resources, tax professionals and investment management. Wealth managers can have backgrounds as independent Chartered Financial Consultants, Certified Financial Planners or Chartered Financial Analysts (in the USA), Chartered Strategic Wealth Professionals (in Canada),Chartered Financial Planners (in the UK), or any credentialed (such as MBA) professional money managers who work to enhance the income, growth and tax-favored treatment of long-term investors.

Private wealth management

Private wealth management is delivered to high-net-worth investors. Generally this includes advice on the use of various estate planning vehicles, business-succession or stock-option planning, and the occasional use of hedging derivatives for large blocks of stock.

Jim Rohn

Emanuel James "Jim" Rohn (September 17, 1930 – December 5, 2009) was an American entrepreneur, author and motivational speaker. His rags to riches story played a large part in his work, which influenced others in the personal development industry.

Early life

Emanuel James "Jim" Rohn was born in Yakima, Washington, to Emanuel and Clara Rohn. The Rohns owned and worked a farm in Caldwell, Idaho, where Jim grew up as an only child.

Career

Rohn started his professional life by working as a stock clerk for department store Sears. Around this time, a friend invited him to a lecture given by entrepreneur John Earl Shoaff. In 1955, Rohn joined Shoaff's direct selling business AbundaVita as a distributor.

In 1957, Rohn resigned his distributorship with AbundaVita and joined Nutri-Bio, another direct selling company. It was at this point that the company's founders, including Shoaff, started to mentor him. After this mentorship, Rohn built one of the largest organizations in the company. In 1960 when Nutri-Bio expanded into Canada, Shoaff and the other founders selected Rohn as a vice president for the organization.

Law of attraction

The law of attraction may refer to: