Money Can't Buy Happiness, But The Wealthy Wield Immense Power
Adrian C. Spitters FCSI?, CFP?, CEA? President, Author, Private Wealth Advisor
I Execute Tax-Efficient Investment Portfolio Solutions So That Your Business, Family, And Estate Assets Are De-Risked And Protected Against Financial Risk, Economic Threats, Inflation And Higher Taxes.
To ensure you continue to receive ALL my posts, Click on the NOTIFICATION BELL below my profile picture.
Source Article: Money Is Power, And The Global Balance Of Power Is Rapidly Shifting In Favor Of The Ultra-Wealthy Elite
The Growing Wealth Gap in Canada
If you have enough money, you can buy just about anything. And when you are in a position where you can afford nearly everything, you wield an enormous amount of raw power. Today, Canada is completely dominated by those at the very top of the economic pyramid. The richest one percent of the one percent in Canada are pretty much able to do whatever they want, while the rest of Canadians are powerless to stop them. Unfortunately, the gap between the ultra-wealthy elite and the rest of Canadians continues to increase.
Last year, the total wealth of Canadian millionaires reached $1.2 trillion. According to Investors Economics Inc., the number of "high net worth individuals" with liquid assets of at least $1 million in Canada rose by 7.3% to 1.2 million, and their total wealth increased by 10.2% from the previous year.
Meanwhile, over 3 million Canadians have fallen into poverty since the start of the pandemic, according to Statistics Canada data. While the richest Canadians have seen their wealth soar, millions have seen their economic situation worsen dramatically.
The Widening CEO-Worker Pay Gap in Canada
The colossal gap between CEO pay and worker pay at Canadian companies also grew larger last year. In 2022, the median compensation for CEOs at TSX-listed companies was $8.7 million, which is 243 times higher than the median income for Canadian workers that year.
It would be beneficial if the rich in Canada became richer while all other Canadians became wealthier. However, poverty and inequality are rising across the nation.
The Homelessness Crisis in Canada
In 2020, numerous homeless camps were scattered across Canadian cities. Since then, while some camps have been closed, a significant number remain in many urban areas nationwide. Conditions in some of these camps have deteriorated to such an extent that companies have refused to perform maintenance or construction work nearby due to safety concerns for their employees.
The Domination of the Financial Elite
Canadian politicians care far more about the economic health of the elite than anyone else because the elite fund their political campaigns. The government has made an all-out effort to prop up Canadian financial markets because that is where the elite have much of their wealth concentrated. The wealthiest 10% of Canadians own 57% of the nation's wealth, while the bottom 50% hold just 1%.
Trouble Brewing for Canadian Financial Markets?
Unfortunately for the Canadian elite, trouble may be brewing for the nation's financial markets. The Toronto Stock Exchange has underperformed global markets, and investors have been pulling billions from Canadian equity funds. Canada's big banks report that their clients have been net sellers of Canadian stocks.
While the elite in Canada may be doing well for now, they will not be able to escape the period of tremendous global chaos that seems to be on the horizon. Money can buy almost anything, but it cannot purchase a free pass from the day of reckoning that is rapidly approaching for the Canadian economy.
A Partnership for Holistic Wealth Management
To address the elevated challenges Canadian families face, increased financial institution risk, and provide a more secure option for managing my clients' wealth, I have partnered with one of Canada's leading independent private wealth management firms that serves high-net-worth clients nationwide. This firm offers professional investment management and comprehensive wealth planning advice from a fiducially focused, client-first perspective, providing affluent Canadians access to sophisticated strategies and solutions usually reserved for the ultra-affluent.
Driven by a "capital preservation first" philosophy, the firm generates consistent, tax-efficient returns uncorrelated to public markets. By leveraging this partnership and my relationships with other key industry professionals and firms, my clients gain exclusive access to alternative investments such as private equity, private real estate, precious metals, commodities, government-sanctioned flow-through tax structures, and tax-efficient corporate insurance solutions offered through mutual life companies – all designed to fortify and de-risk a client's family, business and estate assets against financial risk, economic threats, inflation and higher taxes.
The Custodial Model: An Additional Layer of Protection
In light of the revelations made in David Rogers Webb's book" The Great Taking," to further safeguard wealth, the firm employs a custodial model, where client assets are held securely by an independent third-party custodian rather than commingled with the firm's assets. This crucial segregation of assets provides an additional layer of protection, reducing the risk of seizure or misappropriation in a financial crisis or institutional insolvency. The custodial model offers investors a safeguarded solution to help secure their wealth separately from the management firm.
Watch The Great Taking Documentary
Exploring the U.S. for Wealth Security
Amid economic uncertainty and high taxes in Canada, many affluent Canadians are considering relocating their wealth to the United States. The U.S. offers a more favourable tax environment and stronger asset protection laws. Peter J. Merrick, a renowned cross-border specialist, assists Canadians in navigating international wealth management complexities, facilitating seamless asset transfers to diversify holdings and safeguard their hard-earned assets from potential risks.
For Full Details, CLICK HERE
Complimentary Portfolio Evaluation
As a valued reader, I am offering a complimentary portfolio evaluation to discuss how owning Gold fits into your portfolio allocation. This consultation will provide insights into how you can potentially enhance your portfolio's resilience and diversification in the face of economic uncertainty.
Email me at [email protected] or use my Calendly Link to book your complimentary portfolio evaluation.
Alternatively, you can contact New World Precious Metals to discuss purchasing options for physical Gold.
In these turbulent times, it's crucial to ensure that your portfolio is well-positioned to withstand potential economic challenges and market fluctuations. By considering the incorporation of Gold, you may be able to fortify your investments and better navigate the complexities of the current financial landscape.?
To continue receiving my posts, please follow Adrian C. Spitters FCSI?, CFP?, CEA?, then click on the NOTIFICATION BELL below my profile picture to ensure you do not miss any of my posts, and finally sign up for my LinkedIn Newsletter, Lasting Financial Security?.
Please also check out and join my new group, The Counter Narrative?.
Do you find value in the articles I write? Please subscribe to my weekly newsletter, which summarises my best stories of the week: SUBSCRIBE.
Additional Resources:
For more in-depth insights on de-risking your wealth, SUBSCRIBE to my college's LinkedIn Newsletter: The King of Main Street
#WealthManagement #FinancialPlanning #InvestmentStrategies #AlternativeInvestments #EconomicUncertainty #PortfolioProtection #Gold
Graphic Designer @ Freelancer | Brochure, Logo, Graphic Design
5 个月Love this